What does SYNCB/Gapdc mean on your credit report?
SYNCB/Gapdc is an abbreviation for Synchrony Bank/Gap DC. If this code has appeared on your credit report, it typically indicates that you applied for a Gap credit card, which is issued by Synchrony Bank. These store cards allow customers to take advantage of various promotions and financing options offered by Gap, and as part of the credit application process, Synchrony Bank conducts a credit check.
This credit check results in a hard inquiry, which shows up on your credit report under the code SYNCB/Gapdc.
Why SYNCB/Gapdc Appears on Your Credit Report
SYNCB/Gapdc usually appears on your credit report as the result of a hard inquiry triggered by your application for a Gap store credit card. When you apply for this card, Synchrony Bank reviews your credit report to assess your financial health and determine if you qualify for the card.
Even if your application is denied, the hard inquiry remains on your report as evidence that you applied for new credit. Hard inquiries are a normal part of the credit approval process but can temporarily impact your credit score.
How SYNCB/Gapdc Hard Inquiries Affect Your Credit
Hard inquiries like SYNCB/Gapdc can cause a minor drop in your credit score—typically by a few points. While this decrease is usually temporary, it’s important to remember that multiple hard inquiries over a short period can have a cumulative effect on your credit score. Too many inquiries in quick succession may make lenders view you as a higher-risk borrower, which can reduce your chances of getting approved for additional credit.
It’s always a good idea to limit the number of new credit applications you submit, particularly if you plan to apply for larger loans like a mortgage or car loan in the near future.
How Long SYNCB/Gapdc Stays on Your Credit Report
Hard inquiries like SYNCB/Gapdc can stay on your credit report for up to two years. During this time, lenders who review your credit report will be able to see the inquiry, which may influence their decision when assessing your creditworthiness. While the impact on your credit score tends to lessen over time, the inquiry remains visible to lenders until it drops off your report.
If you’re monitoring your credit, keeping track of how long inquiries have been on your report can help you better manage your credit profile.
Can SYNCB/Gapdc Be removed from your credit report?
If the SYNCB/Gapdc inquiry on your report was unauthorized or recorded in error, you can take steps to dispute it and have it removed. Disputing the inquiry involves contacting the credit bureaus and providing evidence to show that the inquiry was incorrect.
The first option is to dispute the hard inquiry with the credit reporting agency, which entails writing a dispute letter that lays out the reasons why the inquiry is incorrect and urges its removal.
While disputing the inquiry yourself may be a viable solution, it can also be a cumbersome and time-consuming process that may not necessarily lead to the desired outcome. Another alternative is to engage the services of a credit repair company like Credit Saint.
They can help you dispute (and possibly remove) various items, including:
- late payments
- collections
- charge offs
- foreclosures
- repossessions
- bankruptcies
Act Now: Schedule a Free Credit Consultation
If you’re struggling with bad credit and want to learn more, consider a free credit consultation with Credit Saint. They have helped many people in similar situations and can provide tailored guidance for your specific needs. Visit their website and fill out the form to see what they can do for you, and start your journey toward a better credit score.
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