Which of the following actions is generally considered the most damaging to an individual'

A) Applying for multiple new credit cards within a short period

B) Making a single late payment on a utility bill

C) Closing an old, unused credit card account

D) Defaulting on a loan or declaring bankruptcy

Explanation

Defaulting on a loan or declaring bankruptcy represents a severe failure to meet financial obligations and has the most significant negative impact on a credit score. While other options can negatively affect a score, they are typically less severe.

Practice More General Knowledge Questions

Which of the following actions is generally considered the most damaging to an individual's credit score?

Explanation