Why Is SYNCB/PPC on My Credit Report?

FT Contributor
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SYNCB/PPC is an acronym for Synchrony Bank/PayPal Credit (previously known as Bill Me Later), which probably shows up on your report because you’ve applied for a line of credit through PayPal.

In addition to PayPal, Synchrony Bank also offers Visa and Mastercard credit cards for more than 200 retailers, including popular options like:

  • Ashley Furniture;
  • Conn’s;
  • Discount Tire;
  • Guitar Center;
  • Lenscrafters;
  • Mattress Firm;
  • Newegg;
  • Pep Boys;
  • Rooms to Go;
  • Value City Furniture.

Whereas PayPal holdings did not report customers’ account details to the three major reporting bureaus, Synchrony Bank does, which could be another reason why they appear on your reports.

Finally, even if you don’t hold an account with Synchrony Bank or PayPal, you could be a listed user on your parent, spouse, child, or business partner’s line of credit. Even though you didn’t initiate the process, your credit reports will reflect your use of the card, which could increase your credit score as long as they pay their bills when they’re due.

Whatever the reason, we’ll cover important details about what to do if you see SYNCB/PPC on your credit report, and how to remove them.

What to Do if You See SYNCB/PPC on Your Credit Report

If you applied for a line of credit with PayPal, you’ll find a hard inquiry on your report, similar to if you applied for a loan through a different bank. This way, lenders can evaluate your application and approximate your ability to repay.

With these details in mind, what steps should you take if you see SYNCB/PPC on your report?

Verify That It Is Legitimate

The first step you should take if you see SYNCB/PPC on your credit reports is to verify that the inquiry is legitimate. Mistakes happen so its appearance could be an unintended mishap.

On the other hand, if you didn’t apply for a line of credit, someone might have stolen your identity and tried to take out a loan in your name. If this is the case, you’ll need to take action immediately by directly contacting Synchrony Bank.

When you’re reaching out to them, they should be able to prove that you authorized the inquiry. If not, make sure to advise them that it’s fraudulent.

You can also request that the reporting agencies implement a fraud alert, which delays any new account openings, notifies you, and attempts to verify that everything’s legitimate before approval.

Accept the Hard Inquiry

If you did apply for a SYNCB/PPC line of credit, you’ll have to accept the hard inquiry. These appear on your credit report any time a lender requests detailed information they can use to determine whether you qualify for a loan.

Keep in mind that hard inquiries only apply to credit-related products. As a result, you won’t get a hard inquiry if you open a checking or savings account.

The good news is that it’s not the end of the world if you have a few of these inquiries on your credit reports, as they’re a perfectly normal part of building a healthy credit history. But keep in mind that some lenders might look unfavorably on your application if you have multiple hard inquiries within a short time.

While soft inquiries, such as when you’re pre-approved for a loan, don’t impact your score, hard inquiries can for up to two years. Fortunately, the older a hard inquiry, the less it will negatively affect your score.

How to Remove SYNCB/PPC From Your Credit Report

If everything’s in order, whether you applied for a SYNCB/PPC line of credit or have an old Bill Me Later account that Synchrony recently reported to the rating bureaus, there’s no need to remove it from your credit report.

However, if SYNCB/PPC appears in error, there are a few things you should do.

Dispute the Item on Your Credit Report

First, you’ll need to send a dispute letter to Synchrony Bank that explains the error and requests that it’s removed from your credit report. You should also contact the three major credit bureaus and supply them with the same information, since they’re ultimately responsible for everything that appears on your report.

Then, once your dispute letters have been sent and received by the appropriate parties, you’ll also want to follow up by checking your free yearly credit reports at AnnualCreditReport.com to ensure the inquiry has been removed.

Work With a Credit Repair Company

Sometimes, fixing errors on your credit report can take a lot of time and effort, which is where a credit repair company comes in. Instead of handling everything yourself, these businesses specialize in three benefits:

  1. They help you comb through your credit reports and identify errors, whether instances of identity fraud or mistakes made by another company;
  2. They’ll send dispute letters for any inaccurate information they find;
  3. They’ll contact companies with whom you have legitimate debts and propose settlements for less than the actual amount owed.

The other option? Wait it out.

Wait Two Years

Outside of working with credit repair companies to dispute errors, legitimate hard inquiries from SYNCB/PPC or any other lender automatically fall off your credit report after two years. And as the inquiry ages, it will impact your score less and less. In fact, some rating models completely exclude the hard inquiry after one year.


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