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ojay11

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If I apply for CC and Loan w/ in 14 days does it hurt my credit? Rate shopping?
Hello team I just applied for a personal loan to (will be use for business strictly) but I want to apply for a personal CC does this qualify as rate shopping if I am doing it with in a short period of time? And does it hurt my credit? Or Is one a hard inquiry and the other a soft inquiry?

Thank you

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They would both be hard inquiries, which only carry slight damage. The rate shopping exemption that you are speaking of is only for auto, mortgage and student loans (for others reading this, multiple auto, mortgage or student loan hard inquiries are only counted as one for scoring when the inquiries are done within a certain window of time, usually a 2 week window to be safe, at least this is with FICO scoring models, not sure about the one here, nor do I care about Vantage scoring models). Anyway, I would say go for it, the damage of the hard inquiry and lowering your average age of accounts will go away with some time. In order to build good credit, short term damage must occur.

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