What is SYNCB/Lowes?
SYNCB/Lowes is a term you may notice on your credit report. This code signifies that you’ve applied for a Lowe’s credit card issued by Synchrony Bank. Whether you’re applying for a personal Lowe’s Advantage Card or a business-related Lowe’s Accounts Receivable Card, the application process usually results in a hard inquiry on your credit report.
Why SYNCB/Lowes Appears on Your Credit Report
SYNCB/Lowes indicates a connection between Synchrony Bank and Lowe’s, one of the largest home improvement retailers in the U.S. Synchrony Bank is responsible for issuing several credit cards in partnership with Lowe’s, offering benefits to both consumers and businesses.
When you apply for one of these cards, the application process will generally result in a hard inquiry, which appears as SYNCB/Lowes on your credit report.
The Impact of SYNCB/Lowes Hard Inquiries on Your Credit Score
When you apply for a new line of credit, such as a Lowe’s credit card, Synchrony Bank conducts a hard inquiry to assess your creditworthiness. Hard inquiries can lower your credit score by a few points, especially if you have multiple inquiries within a short period. Although the impact on your score is usually temporary, too many hard inquiries can make it more difficult to obtain new credit.
How Long SYNCB/Lowes Stays on Your Credit Report
A hard inquiry from SYNCB/Lowes will remain on your credit report for up to two years. These inquiries are documented by the major credit bureaus—Equifax, Experian, and TransUnion. While their effect on your score diminishes over time, the record of the inquiry will be visible to potential lenders during this period.
Dealing with Unauthorized SYNCB/Lowes Inquiries
If you spot a SYNCB/Lowes inquiry on your credit report that you don’t recognize, it’s important to investigate. Contact Synchrony Bank to verify the details of the inquiry. If the inquiry is unauthorized, you have the right to dispute it with the credit bureaus to have it removed from your report.
Removing SYNCB/Lowes from Your Credit Report
If you find that SYNCB/Lowes should not be on your credit report or if you’re dealing with other inaccuracies, you may want to consult with a credit repair service like Credit Saint. They specialize in disputing and removing negative items from credit reports, including hard inquiries, late payments, and more.
Regain Control of Your Credit Today
Improving your credit score starts with understanding the factors that contribute to it, such as hard and soft inquiries. If you’re struggling with bad credit, consider seeking a free credit consultation with a reputable credit repair company like Credit Saint.
Visit their website, fill out the form, and embark on your journey towards better credit today.
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