A CPN number, or credit privacy number, is a nine-digit number that some people use instead of their social security number (SSN) to apply for credit. A CPN number can help protect your identity and privacy, especially if you have been a victim of identity theft or fraud. However, getting a CPN number is not easy, and it comes with some risks and limitations. In this article, we will explain what a CPN number is, how to get one legally, and what to watch out for when using it.
What is a CPN number?
A CPN number is a unique identifier that is not linked to your SSN, your name, or your address. It is supposed to be used only for credit purposes, such as applying for loans, credit cards, or mortgages. A CPN number can help you establish a new credit history, separate from your existing one. Some people use a CPN number to avoid negative information on their credit reports, such as bankruptcies, foreclosures, or collections.
However, a CPN number is not a legal substitute for your SSN. You still need to use your SSN for tax purposes, government benefits, employment, banking, and other non-credit activities. You also cannot use a CPN number to evade your legal obligations or debts. A CPN number does not erase your credit history or make you immune to credit laws and regulations.
How to get a CPN number legally?
There is no official or legitimate source of CPN numbers. The Social Security Administration (SSA) does not issue or endorse them. The only way to get a CPN number legally is to apply for an Employer Identification Number (EIN) from the Internal Revenue Service (IRS). An EIN is a tax identification number for businesses and organizations. You can use an EIN as a personal CPN number if you have a legitimate business reason to do so.
To apply for an EIN, you need to fill out an online form on the IRS website. You will need to provide your name, SSN, address, and the type and purpose of your business. You will receive your EIN immediately after completing the form. You can then use your EIN as a CPN number when applying for credit. However, you should be aware that using an EIN as a personal CPN number may raise some red flags with creditors and credit bureaus. They may verify your identity and ask for additional information or documentation.
Benefits of using a CPN number?
The main benefit of using a CPN number is that it can help you protect your identity and privacy, especially if you have been a victim of identity theft or fraud. A CPN number can also help you establish a new credit history, separate from your existing one.
This may improve your chances of getting approved for credit or getting better terms and rates., especially if you have been a victim of identity theft or fraud.
What are the risks and limitations of using a CPN number?
Using a CPN number may seem like an easy way to improve your credit score or protect your privacy, but it comes with some serious drawbacks and dangers. Here are some of them:
- Using a CPN number may be illegal or fraudulent. Some companies or websites claim that they can sell you a valid CPN number for a fee. However, these numbers are often stolen, fake, or recycled from other people’s SSNs. Using such numbers may violate federal laws and expose you to criminal charges or civil penalties. You may also be liable for any debts or damages caused by the original owner of the number.
- Using a CPN number may not improve your credit situation. Creditors and credit bureaus may not accept or recognize your CPN number as a valid identifier. They may reject your credit applications or report them as suspicious or fraudulent. They may also link your CPN number to your SSN and merge your credit histories. This means that any negative information on your SSN-based credit report will still affect your credit score and eligibility.
- Using a CPN number may compromise your identity and privacy. By using a CPN number, you are giving up some control over your personal information and financial records. You may not be able to access or monitor your credit reports or scores based on your CPN number. You may also risk losing your identity or becoming a victim of identity theft if someone else obtains or uses your CPN number without your consent or knowledge.
Conclusion
A CPN number is not a magic solution for your credit problems or privacy concerns. It is not easy to get one legally, and it may not work as you expect it to. It may also put you in legal trouble or financial risk if you use it improperly or illegally. Therefore, before you decide to use a CPN number, you should weigh the pros and cons carefully and consult with a professional financial advisor or attorney.
Most asked questions and answers about CPN numbers
What is the difference between a CPN number and an SSN?
A CPN number is a nine-digit number that some people use instead of their SSN for credit purposes only. An SSN is a nine-digit number that the SSA assigns to every US citizen and resident for identification and taxation purposes.
Can I use a CPN number for anything other than credit?
No, you cannot use a CPN number for anything other than credit. You still need to use your SSN for tax, government, employment, banking, and other non-credit activities.
How can I get a CPN number for free?
The only way to get a CPN number for free is to apply for an EIN from the IRS. However, you need to have a legitimate business reason to do so, and you should be aware of the risks and limitations of using an EIN as a personal CPN number.
Can I buy a CPN number online?
No, you cannot buy a CPN number online. Any company or website that claims to sell you a valid CPN number is likely to be a scam or a fraud. The numbers they offer are often stolen, fake, or recycled from other people’s SSNs. Using such numbers may violate federal laws and expose you to criminal charges or civil penalties.
Can I use a CPN number to erase my bad credit history?
No, you cannot use a CPN number to erase your bad credit history. A CPN number does not delete or replace your SSN-based credit report. Creditors and credit bureaus may still access or merge your credit histories based on your SSN and your CPN number. Any negative information on your SSN-based credit report will still affect your credit score and eligibility.
Can I use a CPN number to avoid paying my debts?
No, you cannot use a CPN number to avoid paying your debts. A CPN number does not absolve you of your legal obligations or debts. You are still responsible for paying back any loans or credit cards that you have taken out with your SSN or your CPN number. If you default on your payments, creditors may take legal action against you or report you to collection agencies.
How can I check my credit score with a CPN number?
You may not be able to check your credit score with a CPN number. Most credit monitoring services and websites require you to provide your SSN to access your credit reports or scores. Some of them may accept your CPN number, but they may not be able to provide you with accurate or complete information. You may also risk exposing your CPN number to hackers or identity thieves if you share it online.
How can I protect my CPN number from identity theft?
You can protect your CPN number from identity theft by keeping it safe and secure. You should not share it with anyone who does not need it for credit purposes. You should also avoid using it online or on public computers or networks. You should also monitor your credit reports and statements regularly and report any suspicious or unauthorized activity to the authorities.
What are the benefits of using a CPN number?
The main benefit of using a CPN number is that it can help you protect your identity and privacy, especially if you have been a victim of identity theft or fraud. A CPN number can also help you establish a new credit history, separate from your existing one. This may improve your chances of getting approved for credit or getting better terms and rates.
What are the drawbacks of using a CPN number?
The main drawback of using a CPN number is that it may be illegal or fraudulent, depending on how you obtain or use it. Using a CPN number may also not improve your credit situation, as creditors and credit bureaus may not accept or recognize it as a valid identifier. Using a CPN number may also compromise your identity and privacy, as you may lose control over your personal information and financial records.