What Is TJXRewards/SYNCB on your credit report?
TJXRewards/SYNCB is a code you might find on your credit report that represents the collaboration between TJX Rewards and Synchrony Bank. This partnership offers two primary credit cards: the TJX Rewards Credit Card and the TJX Rewards Platinum Mastercard. These cards are designed for frequent shoppers at TJ Maxx, Marshalls, HomeGoods, and Sierra Trading Post, providing rewards and benefits for purchases made at these stores.
Why TJXRewards/SYNCB Appears on Your Credit Report
Seeing TJXRewards/SYNCB on your credit report usually means that you applied for one of the TJX Rewards credit cards issued by Synchrony Bank. When you submit a credit card application, Synchrony Bank conducts a credit check to evaluate your eligibility, which results in a hard inquiry being placed on your credit report.
The Impact of TJXRewards/SYNCB Hard Inquiries on Your Credit
A hard inquiry, like the one from TJXRewards/SYNCB, can slightly decrease your credit score. While a single hard inquiry might only cause a small drop in your score, accumulating several hard inquiries within a short period can lead to a more noticeable impact. Lenders may view multiple inquiries as a sign that you’re seeking credit frequently, which could make you appear riskier to them.
How Log TJXRewards/SYNCB Stays on Your Credit Report
Hard inquiries such as TJXRewards/SYNCB will stay on your credit report for up to two years. These inquiries are recorded by the three major credit reporting agencies—Equifax, Experian, and TransUnion—and remain visible to other lenders who might review your credit history.
Addressing Unauthorized TJXRewards/SYNCB Inquiries
If you find a TJXRewards/SYNCB inquiry on your credit report that you don’t recognize, it’s crucial to address it. Start by contacting Synchrony Bank to ask about the reason for the inquiry. If the inquiry was not authorized, you can dispute it with the credit bureaus to have it removed from your credit report.
Other Reasons TJXRewards/SYNCB May Be on Your Credit Report
Apart from the hard inquiry resulting from a credit card application, there are a few other reasons why TJXRewards/SYNCB might appear on your credit report:
- Account updates: Synchrony Bank might report your credit card account’s status and activity to credit bureaus, including your credit limit, balance, and payment history. Regular reporting of this information is standard practice for most credit card issuers.
- Account delinquency: If you fail to make timely payments on your TJX Rewards Credit Card or TJX Rewards Platinum Mastercard, Synchrony Bank may report the delinquency to the credit bureaus, which can negatively impact your credit score.
- Debt collections: In cases of severe delinquency or default, Synchrony Bank may refer your account to a collection agency. This action can also result in a negative mark on your credit report, as the collection agency may report their involvement to the credit bureaus.
- Account closure: If your TJX Rewards Credit Card or TJX Rewards Platinum Mastercard account is closed, either by you or Synchrony Bank, it may be reported to the credit bureaus. A closed account can impact your credit score, depending on factors such as the age of the account and your overall credit utilization.
Removing TJXRewards/SYNCB from Your Credit Report
If you believe the TJXRewards/SYNCB inquiry is incorrect or unauthorized, you might consider working with a credit repair company like Credit Saint. They specialize in disputing and potentially removing negative marks from credit reports, including hard inquiries, late payments, collections, charge-offs, and more.
Take Control of Your Credit Today
Maintaining a healthy credit score is essential for your financial well-being. If you need assistance in repairing your credit, working with a reputable credit repair company like Credit Saint can be a wise investment in your financial future.
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