A large number of credit inquiries means
A)you have a high BEACON score.
B)you are seeking credit from several institutions.
C)you have a good rating with many financial institutions.
D)you are very diligent on tracking your credit information.

Question

Quizplus · Accepted Answer

A large number of credit inquiries indicates that you are seeking credit from several institutions. This could be seen as a red flag to lenders, as it suggests that you may be overextending yourself financially or may have difficulty managing your debts. As a result, having a large number of inquiries on your credit report can lower your credit score and make it harder to obtain credit in the future.

A Large Number of Credit Inquiries Means