What is GECRB/Care Credit?
GECRB/Care Credit is a credit report code that stands for GE Capital Retail Bank/CareCredit.
GECRB/Care Credit may be on your credit report as a hard inquiry. This usually happens when you apply for an Amazon store card issued by GE Capital Bank (which is now Synchrony Bank). GE’s financial division became Synchrony Bank in 2015, so you might also see SYNCB/CARECR or SYNCB/Care Credit listed on your credit report.
How GECRB/Care Credit Impacts Your Credit Score
When you apply for a CareCredit account or an Amazon store card issued by Synchrony Bank, a hard inquiry is made on your credit report. A hard inquiry typically causes a small, temporary drop in your credit score. However, if you accumulate too many hard inquiries within a short period, the cumulative impact can become significant and negatively affect your credit score.
How long do hard inquiries stay on your credit report?
Hard inquiries stay on your credit report for up to two years. Each inquiry is recorded by one or all of the three major credit reporting agencies: Equifax, Experian, and TransUnion. Over time, the impact of hard inquiries on your credit score will diminish, and they will eventually fall off your report altogether.
Can GECRB/Care Credit be removed from my credit report?
If GECRB/Care Credit appears on your credit report as a hard inquiry or as an account in poor standing, you may want to consider seeking professional assistance from a credit repair company like Lexington Law. With more than 18 years of experience, they specialize in removing inquiries and other negative marks from your credit report. In 2021 alone, they achieved over 6 million removals for their clients.
Lexington Law can help you dispute and potentially remove various negative items from your credit report, including:
- late payments
- collections
- charge offs
- foreclosures
- repossessions
- bankruptcies
Take Action to Improve Your Credit Today
If you’re struggling with bad credit and want to learn more about your options, consider a free credit consultation with Lexington Law. They have helped many people in similar situations and can provide valuable guidance on improving your credit. Visit their website and fill out the form to see what they can do for you. Remember, taking action today can lead to a brighter financial future.
Ready to Raise Your Credit Score?
Some clients have raised their credit scores
by 100 points* or more.
