Economics · Banking and Finance
A credit score is often described as a 'snapshot.' Which of the following actions will have the most immediate negative impact on a borrower's credit score?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Paying the full balance of a credit card two days before the due date
- 2Increasing the credit limit on an existing credit card without increasing the spending
- 3Applying for four different personal loans from four different banks within the same week✓
- 4Closing an old credit card account that was rarely used but had a long history
Correct answer
Applying for four different personal loans from four different banks within the same week
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