Abstract: Credit risk is the most direct and common risk in the asset business of bank. In this paper, the VAR model which is the main technology measuring the financial risk and its weakness in the controlling-credit risk are analyzed. The decisions of bankrupt risk situation of enterprises and the probability of bankrupt are studied from the origin of credit ris——the deeper view of bankrupt. Furthermore, control model of credit which is based on the survival function is raised and the simulation examples are provided.