Does cibil gets hit every time if we apply for credit cards within 7-14 days of time ?

[avikrish]

Does cibil gets hit multiple times if we apply multiple credit cards within 7-14 days of time

I heard multiple loan enquiries within certain days is equivalent to 1 credit enquiry, is it applicable to credit card as well ?

 

[Rkr]

Does cibil gets hit multiple times if we apply multiple credit cards within 7-14 days of time

I heard multiple loan enquiries within certain days is equivalent to 1 credit enquiry, is it applicable to credit card as well ?

Here duration doesnot matter.Every time you apply for credit cards,Some banks do soft enquires (On later stage they are doing hard enquiries) and Many doing Hard enquiries instantly for accessing your credit worthiness.

Every hard enquiry get endorsed in your Credit report .
So its clear that if you apply number of cards then you will get number of hard enquiries in your report and your cibil goes down accordingly.

 

[vinrey287]

Soft Enquiry will be mostly immediate. Hard Enquiry will take from days to months, so cibil score will not go down immediately if at all.
But some do hard enquiries immediately, so depends on the bank.. For me indusind, Hdfc reflected after 2-3 mths.. Sbi, amex were in the same month

 

[Survivor35]

Depends on Variant & Bank.While few banks do a hardpull to check your credit worthiness to issue credit cards/Loan,others do a Soft pull. So hardpull is what ideally reflects in your cibil.

 

[Rkr]

Soft Enquiry will be mostly immediate. Hard Enquiry will take from days to months, so cibil score will not go down immediately if at all.
But some do hard enquiries immediately, so depends on the bank.. For me indusind, Hdfc reflected after 2-3 mths.. Sbi, amex were in the same month

Every hard enquiry get endorsed in your credit report instantly but impact on score will come in day or may be within weeks or even it takes month and If you have CIBIL subscription then you can check the same after login then do refresh your score and you will find the same under enquiry section.(Cibil allow only one refresh in a day)

Soft enquiry data you will not found in your credit report and it will not impact your credit score.