"american-style" Personal Credit System And Its Characteristics,

In a national modern economic life, personal credit system is essential. It is the basis of the entire market economy movement. The Unite States has a perfect personal credit system, and it is used as the basis to create a large-scale credit transactions. This paper introduces the historical evolution and its contents of"American-style"personal credit system and analyzes its characteristics, influencing factors and the role and the limitation of the personal credit system. Finally, this paper profits from its experience and puts forward several proposals to our country's personal credit system. The full text can be divided into four parts:The first part: the historical evolution and its influencing factors of"American-style"personal credit systemIn the introduction, it defines the concept of credit, system, personal credit system and the connotation of"American-style"personal credit system . On this basis, according the historical path of"American-style"personal credit system, this part discusses the entire process of its germ, foundation, development and finally mature."American-style"personal credit system is supported by a number of factors in the long evolutionary process, which make it was able to establish, develop, perfect. As an important component part of the American society system, personal credit system's estabilishment and effective operation is closely related with the rapid economic development of the US. American's contract theroy, credit and moral culture, the Christian civilization become the internal driving force of the establishment of"American-style"personal credit system. The perfect legal system society and the perfect property rights have provided the powerful political law safeguard for the establishment of personal credit system.The second part: personal credit bureau is a market-oriented operationThe entire market-oriented operational personal credit bureau is the lubricant by which the entire personal credit system can move. At present, the American personal credit trades are monopolized by three big personal credit bureaus, they are: Trans Union, Equifax, Experian. These companies have formed from the collection of personal credit information register, the development of products and services to the social-oriented large-scale production model of sale integration. The market-oriented is main operational model of the credit bureau, independence and neutrality is the foundation of the company, American consumers'strong sense of credit become the driving force in the development of credit bureau, the innovation of product and service is a major profit source of credit bureau,the huge database and advanced business software system is the guarantee of credit bureau's development.The third part: the perfect legal standard and supervising and managing mechanismIn America, it has 17 items laws which related with personal credit, its core is Fair Credit Repoting Act. These laws are produced and developed in the practice of personal credit transaction,it has various forms, and has a profound cultural foundation.The personal credit supervision is composed of relevant government departments and some of the professional associations. Their basic function to personal credit management mainly embody: it promotes the appearing of the personal credit's relevant laws, and the consummation of the corresponding regulation, supervise credit bureaus, and they can make reasonable and lawful use and dissemination of credit information. The American personal credit monitoring mechanism is pluralistic, decentralized, this feature has its own advantages, and also has its shortcoming.The fourth part: the functions and limitations of"American-style"personal credit systemPersonal credit system plays an important role in the whole development of American society, it promotes expanding domestic demand, stimulating market demand, saving transaction costs, ensuring the healthy and orderly operation of the market economy, promoting the citizen moral reconstruction and purifying social convention.All things have its dural character,"American-style"personal credit system is very perfect, but it faces many problems: expanding consumer credit increased credit risks,in the practical operation, personal credit system has some technical flaws, and the emergence of fabricated scandal has caused"American-style"personal credit system to receive the stern challenge.Conclusion: In this part, the paper points out some main problem of China's personal credit system: pepole's social credit awareness has not been formed, the relevant laws with personal credit loss, personal credit privacy can not be protected, personal credit information is difficult to collect, the credit bureau can not be developed. Finally, the paper makes some suggestions to the problems of our country's personal credit system.