This policy is about to expire! Multiple banks are issuing alerts!

“Reminder to plan repayments in advance to avoid missing policy benefits.”

As we approach the end of March, commercial banks such as Postal Savings Bank, Everbright Bank, Quanzhou Bank, and Inner Mongolia Bank have consecutively issued reminders that the one-time credit repair policy will expire on March 31, 2026.

On December 19, 2025, the People’s Bank of China issued a notification regarding the implementation of the one-time credit repair policy, stating that the central bank’s credit system will not display overdue information for eligible individuals, and March 31, 2026, is the last day of the policy’s application period.

Credit repair must meet four criteria

Specifically, this one-time credit repair policy has several conditions:

(1) Subject: Applicable to overdue credit information displayed in the central bank’s credit system for individuals;

(2) Time: Overdue information must have occurred between January 1, 2020, and December 31, 2025; overdue information generated in 2026 is not included;

(3) Amount: The single overdue amount must not exceed 10,000 yuan.

(4) Repayment deadline: Borrowers must fully repay overdue debts (including historical overdue amounts and current repayments) by March 31, 2026 (inclusive).

All of the above conditions must be met simultaneously, and none can be omitted. After completing the action, individuals do not need to apply or take action, as the central bank’s credit system will automatically identify and uniformly process eligible overdue information.

“It is recommended that borrowers proactively verify the principal, interest, and penalties of their debts with the bank to ensure full repayment.” A bank staff member reminded that some borrowers only repay the principal and interest without paying penalties, causing the overdue information to not be recognized by the system, resulting in unsuccessful credit record repair.

Staff members stated that after repayment, borrowers should proactively confirm with financial institutions whether the funds have been successfully deducted, to avoid failures due to delays from third-party platforms or account anomalies. They should also pay attention to the update progress, checking their credit reports through offline and online means, such as mobile banking apps, online banking credit center websites, etc.

Zhaolian’s chief economist and deputy director of the Shanghai Financial and Development Laboratory, Dong Ximiao, pointed out that the implementation of this policy will help break the dilemma of “once untrustworthy, forever limited.”

“The policy clearly conveys a signal: within a certain period, actively fulfilling obligations and correcting mistakes can repair credit. This will encourage individuals to actively repay debts and address historical credit issues, rather than giving up. Good credit is the foundation for citizens to enjoy financial services, and repairing credit means restoring an individual’s financial ‘pass,’ which helps improve their lives and achieve personal development.”

Dong Ximiao stated that the one-time credit repair policy encourages debtors to repay overdue debts, which can also effectively assist banks in recovering overdue loans and improving asset quality. “Financial institutions will re-include individuals with repaired credit into their service scope, helping to expand the customer base with growth potential and further promote inclusive finance development.”

Beware of “credit repair” scams

In addition to reminding borrowers to seize the policy deadline, many banks emphasize that the one-time credit repair policy is completely free and does not require application, and borrowers should be wary of fraud.

Central banks in various regions have stated that some unscrupulous intermediaries, under the guise of “debt restructuring,” entice consumers to “borrow new to repay old” or apply for high-interest bridge loans. Individuals with unresolved overdue debts should remain highly vigilant to avoid falling into debt traps.

It is reported that the personal credit report provided by the credit system is one of the reference factors for financial institutions’ credit business. Financial institutions typically make credit decisions based on a comprehensive assessment of clients’ asset status, risk levels, credit performance, and other factors. Therefore, do not easily believe the false claims of illegal intermediaries that “credit repair” can lead to loan approval, to avoid property loss and exposure of personal sensitive information.

It is worth noting that industry insiders have pointed out that the one-time credit repair policy only means that overdue records are “not displayed,” rather than permanently deleted. Borrowers should still maintain good borrowing habits and avoid missed repayments.

Dong Ximiao also emphasized that the one-time credit repair policy is not “credit washing.” The core goal of the policy is to educate and assist the group of borrowers who are not maliciously untrustworthy and actively repay their debts (due to reasons such as serious illness or negligence that led to overdue payments). “The policy does not shield or condone ‘deadbeats,’ so it is essential to set strict conditions for credit repair.”

Proofread by: Wang Wei