If a Credit Applicant Has Opened Many New Accounts Recently

question 28

True/False

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

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Definitions:

Cultures

The sum total of ways of living built up by a group of human beings, transmitted from one generation to another.

Financially Independent

Being in a condition where one possesses enough personal wealth to sustain oneself without the need to engage in active labor for essential needs.

Socioeconomic Status

An assessment of a person's or family's financial and societal status compared to others, determined by their earnings, level of education, and employment.

College Students

Individuals enrolled in institutions of higher education, including universities and colleges, to pursue undergraduate or graduate degrees.