If SYNCB/PayPal just showed up on your credit report, you might be wondering why it’s there and what it means for your credit score. Here’s everything you need to know—and how to get it removed if it wasn’t authorized.
What Is SYNCB/PayPal?
SYNCB/PayPal stands for Synchrony Bank/PayPal. It shows up on your credit report when you apply for a PayPal Credit account, which is issued by Synchrony Bank. You may also see it listed as SYNCB/PPC, depending on the credit bureau.
PayPal Credit (formerly called Bill Me Later) lets you finance online purchases and pay them off over time. It’s available at major retailers including:
- Apple
- Best Buy
- Home Depot
- Hotels.com
- JetBlue Airways
- Overstock.com
- Target
- USPS
- Walgreens
- Walmart
If you’ve used PayPal Credit with any of these merchants, SYNCB/PayPal is likely tied to that account.
Why SYNCB/PayPal Appears on Your Credit Report
SYNCB/PayPal appears on your credit report when you apply for PayPal Credit. During the application process, Synchrony Bank performs a hard inquiry to check your credit history.
A hard inquiry is a normal part of applying for credit and confirms that you gave authorization for a credit check. This is what allows Synchrony to decide whether to approve your PayPal Credit account.
How SYNCB/PayPal Hard Inquiries Affect Your Credit Score
Hard inquiries can lower your credit score by a few points. A single inquiry usually isn’t a big deal, but if you’ve applied for several credit accounts in a short period, the combined effect can be more noticeable.
Too many hard inquiries close together may make lenders view you as a higher-risk borrower, which can hurt your chances of getting approved for new credit.
How Long SYNCB/PayPal Stays on Your Credit Report
A hard inquiry from SYNCB/PayPal stays on your credit report for up to two years. All three major credit bureaus—Equifax, Experian, and TransUnion—record these inquiries.
The effect on your credit score lessens over time, with the most impact in the first year. After two years, the inquiry falls off your credit report automatically.
How to Handle Unauthorized SYNCB/PayPal Inquiries
If you don’t recognize a SYNCB/PayPal inquiry on your credit report, take action right away:
- Contact Synchrony Bank: Ask them to confirm the details of the inquiry and whether it was tied to an application in your name.
- Dispute with the Credit Bureaus: If the inquiry was made without your permission, you can file a dispute to have it removed.
Unauthorized inquiries can stem from reporting errors or identity theft. If the inquiry is proven inaccurate, the credit bureaus must remove it.
How to Remove SYNCB/PayPal From Your Credit Report
If the inquiry is legitimate—meaning you applied for PayPal Credit—it cannot be removed early. But if it’s inaccurate or unauthorized, you have the right to dispute it under the Fair Credit Reporting Act (FCRA).
You can write to the credit bureaus directly and request an investigation. If you prefer not to handle the process alone, a credit repair company can help manage the dispute for you.
How Credit Saint Can Help With Inquiries and Negative Marks
If you’re dealing with SYNCB/PayPal inquiries you didn’t authorize—or other negative marks on your credit report—Credit Saint may be able to help.
They work with clients to challenge and potentially remove:
- Hard inquiries
- Late payments
- Collections
- Charge-offs
- Foreclosures
- Repossessions
- Bankruptcies
Credit Saint offers free consultations to review your credit report and build a customized action plan. They even offer a 90-day money-back guarantee for added peace of mind.
Want expert help improving your credit? Visit their website to learn more and schedule your free consultation today.
Ready to Clean Up Your Credit Report?
Learn how credit repair professionals can assist you in disputing inaccuracies on your credit report.
