What is HSN Card/SYNCB?
HSN Card/SYNCB and SYNCB/HSN are credit report codes representing the Home Shopping Network (HSN) Card and Synchrony Bank. These codes may appear on your credit report as hard inquiries, typically resulting from applying for an HSN card or HSN Mastercard issued by Synchrony Bank. The HSN credit card offers 12-month VIP financing on electronics, home, and kitchen items priced at $399 and up.
The Impact of Hard and Soft Inquiries on Your Credit
Understanding the difference between hard and soft inquiries is crucial when applying for new credit, as they can have varying effects on your credit report.
Hard Inquiries
Hard inquiries occur when a lender or creditor runs a credit check as part of your application for new credit. These inquiries can result from mortgage, apartment, car loan, credit card, insurance policy, cell phone, or job applications. While hard inquiries typically only lower your credit score by a few points, having too many in a short period can significantly damage your credit score.
Soft Inquiries
In contrast, soft inquiries typically arise when a company checks your credit history as part of a background check or when a credit card issuer or lender prequalifies you for an offer. Existing creditors might also conduct soft inquiries to monitor your current credit situation. Unlike hard inquiries, soft inquiries do not impact your credit scores.
How long do hard inquiries stay on your credit report?
Regardless of whether you are approved for the HSN credit card, 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.
Addressing Unauthorized Inquiries
If you find an unfamiliar inquiry on your credit report or are certain you didn’t initiate it, contact Synchrony Bank right away. The creditor’s name should be listed under the hard inquiry section on your credit report. Promptly addressing unauthorized inquiries is essential for protecting your credit score and personal information.
Can HSN Card/SYNCB Inquiries be Removed from Your Credit Report?
Lexington Law specializes in removing inquiries and other negative marks from credit reports. With over 18 years of experience, they successfully removed more than 6 million items for their clients in 2021 alone. Lexington Law 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 enhancing your credit situation, consider a free credit consultation with Lexington Law. They have assisted many individuals in similar circumstances and can provide tailored guidance. Visit their website and complete the form to start your journey toward better credit today.
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