Table of Contents
- Does Synchrony Bank report to the 3 major credit bureaus?
- When does Synchrony Bank report to the credit bureaus?
- How often does Synchrony Bank report to the credit bureaus?
- What information does Synchrony Bank report to the credit bureaus?
- How to view your credit report
- How to build credit with a Synchrony Bank credit card
Lenders can choose whether they report information to the credit bureaus, which bureaus they report to, and what information they report.
What and when credit cards report to the credit bureaus is an important part of building credit, as the information given is used to update your credit report and corresponding credit score.
Does Synchrony Bank report to the 3 major credit bureaus?
Yes, Synchrony Bank reports to the three major credit bureaus:
- Equifax
- Experian
- TransUnion
Additionally, they report to Innovis, a lesser-known credit bureau.
When does Synchrony Bank report to the credit bureaus?
Synchrony Bank reports to the credit bureaus after your credit card’s statement closing date. The Synchrony Bank team doesn’t specify how long after, but they most likely report within 3 days of the statement closing date.
Your statement closing date is the final day of your credit card billing cycle. To find your statement closing date, you can:
- Check your credit card statement.
- View your billing cycle information in your online account.
- Call the number on the back of your credit card and ask a customer service representative.
How often does Synchrony Bank report to the credit bureaus?
Synchrony Bank reports to the credit bureaus every 28–31 days.
What information does Synchrony Bank report to the credit bureaus?
Synchrony Bank reports the following details to the credit bureaus:
- Current balance
- How much was spent
- How much wasn’t spent
- Available funds
How to view your credit report
Synchrony Bank offers free monthly credit reports. To view your latest report:
- Check your most recent billing statement.
- Log in to your eservice account.
How to build credit with a Synchrony Bank credit card
Because Synchrony Bank reports to four credit bureaus, you can use your credit card to build credit and improve your credit score.
To build credit with your Synchrony Bank credit card:
- Use your card regularly: Using your Synchrony Bank card responsibly each month gives Synchrony Bank positive marks to report to the credit bureaus. If you have a low credit limit or worry about being able to pay your credit card bill, charge a small recurring purchase to the card (like your Netflix or Amazon subscription).
- Use less than 30% of your credit limit: An important factor in determining your credit score is your credit utilization rate, which is how much of your total credit you’re using. You want this number low, so try to only use less than 30% of your credit limit, or less than 10% for an even better rate.
- Pay your bill on time: The most important part of building credit and raising your credit score is making on-time payments to your Synchrony Bank account. When you pay your credit card bill also matters if you’re trying to raise your score. Pay your credit card bill in full by the due date, and pay down most of it by the statement closing date (since that’s when Synchrony Bank reports your account standing) to maximize positive reporting.
- Keep your account open: The length of your credit history also contributes to your credit score, so keep your Synchrony Bank credit card account open to increase your average credit age.
