Meaning a person of high rank or distinction is attested from c.1500 in English; as a longer way to say person, the word was in use from 1550s (but often slyly ironical, with suggestion that the subject is overly self-important).
If your system is standalone, the default sync interval for system time is 604800 seconds (7 days). If you are in a domain environment, the default sync interval is 3600 seconds (0.04166667 days). If you are using XP Pro, you can adjust your settings using Group Policy editor (GPedit - Administrative Templates\System\Windows Time Service\Time Providers) or you can adjust things through a registry edit (works for any version of XP).
They often range from 30 to 90 days. I don't know of a specific timeframe that Synchrony Bank has in place, so you should be able to reapply at any time, if your profile supports it. You could apply now and would very likely get an approval. The time you decide to wait really depends on your goals.