SYNCB/NTWK is what’s known as a hard inquiry. Hard inquiries occur when a lender pulls your credit report when applying for a loan.
Generally you can remove inquiries from your report if any of the following has happened:
SYNCB/NTWK reviewed a copy of your credit report(s) to decide whether or not to lend to you, which appears on your report as a hard inquiry.
Lenders are required to report hard inquiries everytime they pull your credit reports because you asked for credit. They use this reporting to track how often you’re applying for credit cards, loans, etc., which in their eyes makes you a higher risk.
If you don’t recognize this company, consider what else you may have applied for around the date of the inquiry, as many times businesses will use 3rd parties to pull credit reports which regularly causes confusion.
Hard inquiries, or hard pulls, occur every time you apply for credit and a lender needs to pull your credit reports to make an informed decision whether or not to approve you.
The most common reason for these are when applying for:
If you spot an unfamiliar inquiry from SYNCB/NTWK on your credit report, it could be a sign of identity theft. To safeguard against this, promptly dispute the inquiry by taking these necessary steps:
Applying for a retail store credit card may result in an SYNCB/NTWK inquiry on your credit report. This is because Synchrony Bank partners with several retailers, such as Amazon, Walmart, and Lowe's – any applications made at these stores could be reflected as inquiries from the bank.
Safeguard your credit score by limiting the number of applications you submit and researching potential lenders before applying. Be aware that any interaction with SYNCB/NTWK will likely result in a hard inquiry, so it is important to make informed decisions about when and how much credit to apply for.
Hard inquiries (like SYNCB/NTWK) will remain on your credit report for a maximum of 2 years, regardless of whether or not your credit with Synchrony Bank Network was approved. Depending on the scoring model used, hard inquiries will stop affecting your score between 3 to 12 months.
If you’ve ever received a pre-qualification offer for a credit card, auto loan, mortgage, or anything else of that nature, a soft inquiry, or soft pull, was used. Unlike hard inquiries, soft inquiries have nothing to do with you requesting new credit, and as such they’re not visible to anyone except you and do not lower your score.
If the inquiry is a result of identity theft, then yes, TBOM/CONTIN can be removed from your credit report, this is something we can help with.
Speak with a live credit specialist for your free consultation, now