What is BP/SYNCB?
BP/SYNCB is a code you may come across on your credit report when you apply for a BP-branded credit card. The BP Visa Credit Card and the BPCredit Card are both issued by Synchrony Bank, and the code signifies a hard inquiry made by the bank when you apply for either of these cards.
The Benefits of BP Visa Credit Card and BP Credit Card
The BP Visa Credit Card is a versatile option that offers cashback rewards not only at participating BP and Amaco stations, but also at any store that accepts Visa cards. This makes it an attractive choice for consumers who value flexibility in their credit card rewards.
On the other hand, the BPCredit Card is a more specialized card that offers cashback rewards exclusively at participating BP and Amoco stations. This card is ideal for those who frequent these gas stations and want to maximize their rewards specifically on fuel purchases.
Hard Inquiries vs. Soft Inquiries: What’s the Difference?
When discussing credit inquiries, it’s essential to understand the difference between hard and soft inquiries. Both types of inquiries serve different purposes and have distinct impacts on your credit score.
A hard inquiry takes place when a lender or creditor checks your credit history to evaluate your creditworthiness before extending credit to you. Applying for a credit card, mortgage, or auto loan are typical examples of situations that result in hard inquiries. Hard inquiries can cause a slight dip in your credit score and may have a more significant impact if you have several within a short period.
Soft inquiries, on the other hand, do not affect your credit score. These inquiries happen when a company checks your credit as part of a background check, a lender prequalifies you for an offer, or an existing creditor checks your credit situation. Soft inquiries provide a snapshot of your credit history without any negative consequences.
How long do hard inquiries stay on your credit report?
Whether you get approved for the BP Visa Credit Card or BPCredit Card makes no difference. The hard inquiry will remain on your credit report for up to 2 years. Each time you make an inquiry, it is recorded by one or all of the three major credit reporting agencies: Equifax, Experian, and TransUnion.
Dealing with Unauthorized Inquiries
It’s crucial to keep an eye on your credit report to ensure that all inquiries are accurate and authorized. If you notice an unfamiliar inquiry or believe an inquiry was made without your consent, it’s essential to take action.
If you discover an unauthorized inquiry, contact Synchrony Bank and inquire about the source of the hard inquiry. By reaching out to the creditor listed on your credit report, you can gain clarity on the situation and potentially resolve any inaccuracies.
Can BP/SYNCB Be Removed from Your Credit Report?
Credit Saint is a reputable credit repair company that specializes in removing inaccurate hard inquiries, including BP/SYNCB, and other negative marks from your credit report.
In addition to removing hard inquiries, they can help dispute and possibly remove other negative items from your credit report, such as late payments, collections, charge-offs, foreclosures, repossessions, and bankruptcies.
- late payments
- charge offs
Take Action to Improve Your Credit Today
If you’re struggling with bad credit and want to explore your options, consider a free credit consultation with Credit Saint. Their expertise and experience can provide valuable insights and assistance in improving your credit situation. Visit their website and fill out the form for a free credit consultation to see how they can help you get back on track.
Ready to Raise Your Credit Score?
Learn how credit repair professionals can assist you in disputing inaccuracies on your credit report.
Here’s a list of some of the nation’s most common credit inquiries.
- CB INDIGO
- Citicards CBNA
- Comenity Bank/ATYLRLMC
- CoreLogic Credco
- CRDT First
- Credco Inquiry
- Credit Plus
- Elan Financial Services
- Equifax Mortgage Services
- Factual Data
- JPMCB Card Services
- MABT CONTFIN
- SYNCB AEVISA
- SYNCB/Amazon PLCC
- SYNCB/Ameg D
- SYNCB/TJX CO DC
- SYW MC/CBNA
- TD Bank Target
- TU Interactive
- Webbank Fingerhut
- WF Bank NA
Crediful is your go-to destination for all things related to personal finance. We're dedicated to helping you achieve financial freedom and make informed financial decisions. Our team of financial experts and enthusiasts brings you articles and resources on topics like budgeting, credit, saving, investing, and more.