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What is Banana Republic SYNCB on My Credit Report?

Banana Republic SYNCB stands for Banana Republic Synchrony Bank.

When you apply for a Banana Republic credit card or get added as an authorized user on someone else’s account, it could lead to a hard inquiry.

This type of entry can lower your score, particularly if you have several hard credit checks on your report.

If you didn’t apply for a Banana Republic SYNCB card, there are steps you can take to get it removed from your credit report.

Banana Republic SYNCB On My Credit Report

Banana Republic offers shoppers a rewarding Visa card, with in-store cashback rewards and special offers.

The card can be used to earn rewards at Banana Republic’s partner brands, as well, including:

  • Gap
  • Athleta
  • Old Navy
  • Hill City

Banana Republic offers these cards through a partnership with Synchrony Bank, which issues credit cards for dozens of national retailers.

Whenever you apply for a Banana Republic card or someone authorizes you to use their credit, it can lead to a hard inquiry on your report.

How Do Hard Inquiries Work?

There are two types of credit inquiries: Hard Inquiries and Soft Inquiries.

Soft Inquiries

Soft inquiries occur when you view your score, shop for quotes, or are pre-approved for a loan or credit card.

A soft credit pull verifies your score without damaging it or leaving a lasting entry on your credit report.

Hard inquiries happen once you apply for a credit card or loan, and sometimes when you submit a rental application or submit to a background check for a job.

Hard Inquiries

A hard inquiry is more invasive. Lenders access your entire credit report from Experian, Equifax, TransUnion, or all three bureaus.

Your credit report gives lenders a better idea of your previous credit use to help them decide if you’re a reliable borrower.

This type of inquiry remains on your credit report for two years, and in most cases, it will drop your score by a few points.

The more credit inquiries you have, the more it can affect your score.

If you want to minimize the impact of hard inquiries, try to:

  1. Research the credit requirements for loans and cards before you start applying for them and avoid those you aren’t likely to get approved for.
  2. If you’re trying to comparison shop, you should limit applications for mortgages and other loans to a 14-day period.

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How to Get Banana Republic SYNCB off Your Credit Report

When you apply for a credit card, you can expect a hard credit check. However, inquiries can sometimes appear on your report by mistake.

If your identity has been used fraudulently or a reporting error has occurred, you can get a hard inquiry removed from your report.

Here are two ways to get the entry deleted.

Dispute the Entry with Synchrony and the Bureaus

Any time you find an inaccurate entry on your credit report, you need to follow up with the lender and inform the credit bureaus.

The Fair Credit Reporting Act grants you 30 days to dispute inaccurate entries on your report.

During that time, you should file a dispute with the credit bureaus and Synchrony Bank.

You can dispute a debt with the credit bureaus on the phone, online, or by mail.

One of the best ways to stay on top of new additions to your credit report and changes to your score is to enroll in a credit monitoring service.

An app like Credit Sesame or Credit Karma can alert you whenever there’s a change in your report, give you weekly score updates, and provide resources to help you improve your score.

Pay for Help from a Credit Repair Company

Depending on the extent of your credit problems, your best bet might be to work with a credit repair specialist.

Credit repair companies are pros at disputing inaccuracies and getting them deleted from consumers’ credit reports.

Even more, they can assist you with challenging credit problems like:

  • Bankruptcy
  • Charge-offs
  • Collection-stage debt
  • Foreclosure
  • Judgments
  • Poor payment history
  • Liens
  • Repossessions

No matter what’s responsible for the decrease in your credit score, they’ll help you get your score back on track.

Getting Banana Republic SYNCB off Your Credit Report

Applying for new credit can open up the door to improving your score in the long run, but it may slightly lower it in the process.

If you’re a new account holder after getting approved for a Banana Republic credit card, you should focus your energy on using your new account responsibly.

Keeping a low account balance and making timely payments will have a far more significant effect on your score than a hard credit pull.

On the other hand, if you’ve been hit with an inquiry from Banana Republic without having applied for a card, you should get in touch with SYNCB and the bureaus ASAP.

And if a hard inquiry from Banana Republic is the least of your credit issues, a top-tier credit repair company can help you weed through the complexities of improving your score.