Wondering why is GECRB on your credit report? Several factors can affect your creditworthiness, such as: B. Your credit utilization and payment history.
One action that will lower your score is getting a new credit card.
General Electric Capital Retail Bank, abbreviated as GECRB, is the former name for Synchrony Bank and is likely on your report because you have applied for a Synchrony card in the past.
If you haven’t applied for any of these cards, you should be able to clear the hard request using the pointers below.
GECRB on my credit report
Synchrony Bank, formerly GECRB, is a major, highly respected national bank with nearly a century of experience.
It offers a range of products such as MMAs, IRAs, CDs, loans and credit cards.
The bank works with numerous retailers to offer customers great credit cards.
When you apply for one of these cards, you allow the bank to do a credit check.
Once you’ve applied for a card, your report may show both GECRB and SYNCB immediately because the bank has switched to their new name.
The bank’s most popular credit card partners include:
- Ashley furniture
- Gap / Old Navy
- Sam’s Club + Walmart
If you are overwhelmed with handling negative entries on your credit report,
We encourage you to seek help from a professional credit repair company.
Ask Lex Law for help
How does a hard GECRB request affect your credit report?
Often times, people fail to read the fine print and fail to realize that a quick retail credit card application can lower their score.
Every time you apply for a card, the lender will request access to at least one and sometimes all of your credit reports.
They use the information in your report to decide whether or not to grant you a card.
Hard inquiries also come up when applying for a loan or line of credit.
Soft requests, on the other hand, only check your score without damaging it.
They happen when you:
- Let a credit monitoring service keep you updated on your score
- Qualify for a loan offer
- Get checked for a job or rental property
The good news? Hard requests hurt your score less over time and only stay there for two years.
Since credit inquiries are required to get new credit, it’s okay to have one or two on your report. Just think about how many inquiries you get.
Multiple inquiries can be a red flag for potential lenders. So, be sure to check the approval requirements before applying for cards and credits.
How to remove SYNCB from your credit report
If you’ve never applied for a Synchrony Retail Card, you will need to dispute the request and have it deleted.
Here are some surefire strategies you can use to remove a tough query from your credit report.
To stop a fight
If you haven’t applied for a credit card with Synchrony, General Electric, or any of their retail partners, you need to file a dispute as soon as possible.
You can mail out a letter, call, or file a dispute online with the credit bureaus, which will display the hard request on their reports.
You should also request validation of the request from Synchrony. They should be able to provide you with details of the application that led to the loan application.
Under the Fair Credit Reporting Act, credit reporting agencies have a 30-day window to investigate these types of disputes.
If the entry is fraudulent, it will be removed quickly.
To receive future inquiries as soon as they are added to your report, be sure to sign up for credit monitoring.
A credit monitoring app will help you increase your score, report bugs, and keep you informed of your score and additions to your report on a regular basis.
Get help from a credit repair company
Contacting creditors, banks, and credit bureaus can take a lot of time and energy.
If you need help removing a request, consider hiring a credit repair company.
They are experts at removing inaccuracies from your report and making sure it is accurate.
These companies can also help you deal with a number of credit problems that can add even more damage to your credit, such as:
Whatever is hurting your score, they will help you make significant improvements.
A credit card application shouldn’t prevent you from accessing cheap rates on a loan, mortgage, or credit card.
While an entry may have little impact on your score, don’t ignore a query that you don’t recognize.
If the SYCNB or GECRB still doesn’t ring, you will need to dispute the request or use a credit repair company.
If you’re not sure where to start, one of the following companies can help: