What is eBay MC SYNCB?
eBay MC SYNCB is a credit report code that appears on your credit report when you apply for an eBay Mastercard issued by Synchrony Bank. It represents the combination of the eBay Mastercard and Synchrony Bank.
The eBay Mastercard allows users to earn reward points on purchases made on eBay, as well as other everyday expenses like groceries, gas, and more. For every 1,500 reward points accumulated, cardholders receive a $10 credit.
Hard Inquiries vs. Soft Inquiries: What’s the Difference?
When applying for new credit, it’s essential to understand the difference between hard and soft inquiries, as they have different impacts on your credit report.
Hard Inquiries
Hard inquiries are recorded on your credit report when you apply for new credit, and a lender or creditor checks your credit history. These inquiries can result from various credit applications, such as mortgages, car loans, credit cards, insurance policies, and sometimes job applications. Although hard inquiries only reduce your credit score by a few points, having too many in a short period can cause significant damage to your credit score.
Soft Inquiries
On the other hand, soft inquiries occur when a company checks your credit history as part of a background check or when a lender or credit card issuer prequalifies you for an offer. Existing creditors may also perform soft inquiries to monitor your current credit situation. Unlike hard inquiries, soft inquiries do not affect your credit scores.
How long do hard inquiries stay on your credit report?
Regardless of whether you’re approved for the eBay Mastercard, the hard inquiry will remain on your credit report for up to two years. Each inquiry is recorded by one or all three major credit reporting agencies: Equifax, Experian, and TransUnion.
Dealing with Unauthorized Inquiries
If you notice an unfamiliar inquiry on your credit report or are confident that you didn’t initiate it, contact Synchrony Bank immediately. The creditor’s name should be listed under the hard inquiry section on your credit report. It’s crucial to address unauthorized inquiries promptly to protect your credit score and personal information.
Can eBay MC SYNCB inquiries be removed from my credit report?
Credit Saint is a reputable firm specializing in removing inquiries and other negative marks on credit reports. They can help you dispute and potentially remove the following items from your credit report:
- late payments
- collections
- charge offs
- foreclosures
- repossessions
- bankruptcies
Improve Your Credit Today
If you’re struggling with bad credit or want to learn more about improving your credit situation, consider a free credit consultation with Credit Saint. They have helped many individuals in similar situations and can provide personalized guidance.
Visit their website and fill out the form to start your journey towards better credit today.
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