Applying for multiple credit cards on the same day is smarter than applying on separate days because the inquiries only count as one. True or false?

FICO's rate-shopping rule — which groups multiple inquiries into one for scoring purposes — applies specifically to mortgage, auto, and student loan applications made within a 14 to 45 day window depending on the FICO version used. Credit card applications do not receive this treatment. Each credit card application generates its own separate hard inquiry, and applying for five cards in one day results in five inquiries. Applying on the same day does not reduce the inquiry count for credit card products.