If a credit applicant has opened many new accounts recently, that is probably a sign that the applicant is very creditworthy.

Question

Quizplus · Accepted Answer

Opening many new accounts recently can actually lower a credit score and may indicate that the applicant is taking on too much debt or experiencing financial stress. Lenders may see this as a sign of higher risk and may be less likely to approve the applicant for credit.

If a Credit Applicant Has Opened Many New Accounts Recently