Wondering why GECRB is on your credit report? Several factors can influence your credit score, such as your credit utilization and payment history.
One action that lowers your score is getting a new credit card.
General Electric Capital Retail Bank, abbreviated as GECRB, is the former name for Synchrony Bank, and it’s probably on your report because you applied for a Synchrony card at some point in the past.
If you didn’t apply for one of these cards, you should be able to get the hard inquiry deleted with the advice below.
GECRB On My Credit Report
Synchrony Bank, formerly GECRB, is a sizable, highly regarded national bank with nearly a century of experience.
It offers a range of products, like MMAs, IRAs, CDs, loans, and credit cards.
The bank partners with numerous retailers to offer rewarding credit cards to shoppers.
When you apply for one of these cards, you allow the bank to run a hard credit check.
If you did apply for a card, you might see both GECRB and SYNCB on your report at once as a result of the bank transitioning to its new name.
Some of the bank’s more popular retail credit card partners include:
- Ashley Furniture
- Gap/Old Navy
- Sam’s Club + Walmart
If you are overwhelmed by dealing with negative entries on your credit report,
we suggest you ask a professional credit repair company for help.
How Does a GECRB Hard Inquiry Affect Your Credit Report?
People often don’t read the fine print, failing to realize that a quick retail credit card application can lower their score.
Anytime you apply for a card, the lender requests access to at least one, and sometimes all, of your credit reports.
They use the info in your report to decide whether or not they should grant you a card.
Hard inquiries also happen when you apply for a loan or line of credit.
Soft inquiries, on the other hand, merely check your score without damaging it.
They happen when you:
- Get updated on your score by a credit monitoring service
- Pre-qualify for a loan offer
- Get screened for a job or rental property
The good news? Hard inquiries damage your score less over time, and they only stay there for two years.
Since credit inquiries are required for getting new credit, it’s okay to have one or two on your report. Just be mindful of how many inquiries you accrue.
Several inquiries can be a red flag to potential lenders, so you should check into the approval requirements before applying for some cards and loans.
How to Remove SYNCB from Your Credit Report
If you never applied for a Synchrony retail card, you need to dispute the inquiry and get it deleted.
Here are a few surefire strategies to help you get a hard inquiry removed from your credit report.
File a Dispute
If you didn’t apply for a credit card with Synchrony, General Electric, or one of their retail partners, you need to file a dispute, ASAP.
You can mail a letter, call, or file a dispute online with whichever credit bureaus are displaying the hard inquiry on their reports.
You should also ask for validation of the inquiry from Synchrony. They should be able to provide you with details about the application that led to the credit inquiry.
Under the Fair Credit Reporting Act, the credit bureaus have a 30-day window for investigating these types of disputes.
If the entry is fraudulent, it will be removed quickly.
To be sure to catch future inquiries as soon as they’re added to your report, you should sign up for credit monitoring.
A credit monitoring app will help you boost your score, report errors, and provide you with regular notifications about your score and additions to your report.
Get Help from a Credit Repair Company
Contacting creditors, banks, and credit bureaus can take a lot of time and energy.
If you’d like help getting an inquiry removed, you should consider hiring a credit repair company.
They are experts at getting inaccuracies off your report and making sure that it’s accurate.
These companies can also help you face a range of credit issues that can do even more damage to your credit, like:
- Charge offs
- Debt collections agencies
- Delinquent payments
- Property repossessions
Whatever is hurting your score, they’ll help you make major improvements.
A credit card application shouldn’t keep you from accessing great rates on a loan, mortgage, or credit card.
While one entry may only have a slight impact on your score, you shouldn’t ignore an inquiry you don’t recognize.
If SYCNB or GECRB still don’t ring a bell, you need to dispute the inquiry or employ a credit repair company.
If you’re not sure where to start, one of the companies below could be of assistance: