What is SYNCB/SMRTCN on your credit report?
SYNCB/SMRTCN is a credit report code representing Synchrony Bank/PayPal Smart Connection. If this code appears on your credit report, it likely means you applied for a PayPal Smart Connection account, which is issued by Synchrony Bank.
Why SYNCB/SMRTCN Appears on Your Credit Report
When you apply for a PayPal Smart Connection account, Synchrony Bank performs a hard inquiry on your credit report. This inquiry helps the bank assess your creditworthiness before approving or denying your application. Seeing SYNCB/SMRTCN on your report is a common outcome of this process.
The Impact of SYNCB/SMRTCN Hard Inquiries on Your Credit Score
Hard inquiries, such as those from SYNCB/SMRTCN, can cause a temporary dip in your credit score. While a single inquiry may only slightly lower your score, having multiple inquiries in a short period can have a more noticeable impact. Lenders may view frequent inquiries as a potential sign of financial stress, which could make securing new credit more difficult.
How Long SYNCB/SMRTCN Inquiries Stay on Your Credit Report
Hard inquiries from SYNCB/SMRTCN can remain on your credit report for up to two years. These inquiries are tracked by major credit reporting agencies, including Equifax, Experian, and TransUnion. While the effect of hard inquiries on your credit score decreases over time, they tend to stop affecting your score after about one year.
Addressing Unauthorized SYNCB/SMRTCN Inquiries
If you find an SYNCB/SMRTCN inquiry on your credit report that you don’t recognize or didn’t authorize, it’s important to address it quickly. Start by contacting Synchrony Bank to verify the inquiry. If it turns out to be unauthorized, you can file a dispute with the credit bureaus to have it removed. Unauthorized inquiries can negatively affect your credit score, so it’s crucial to resolve them promptly.
Removing SYNCB/SMRTCN from Your Credit Report
While removing SYNCB/SMRTCN from your credit report is possible, the process can be challenging. You can dispute the inquiry on your own with the credit bureaus, or seek assistance from a professional credit repair service. Companies like Credit Saint specialize in helping clients remove inaccurate inquiries and other negative marks, such as late payments, collections, charge-offs, foreclosures, repossessions, and bankruptcies.
Getting Professional Help for Credit Repair
If you’re dealing with bad credit and want to improve your credit score, a free consultation with a reputable credit repair company like Credit Saint could be a valuable first step. They have helped many individuals in similar situations by guiding them through the process of disputing negative items and rebuilding their credit.
If you need help addressing inquiries or other negative items on your report, consider reaching out to a professional credit repair service for expert guidance.
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