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What is CPN Numbers and how it work

Introduction

If you or someone else you know is suffering from poor credit, then you've probably had a glimpse of the Credit Profile Number (CPN). But what exactly is the definition of a CPN numbers?

CPNs are a type of credit card that CPN is usually advertised as a chance to avoid the adverse effects of having a poor credit score and assist applicants in applying for credit. The CPN promises that you will still be eligible for credit or a loan even if you have a poor credit history.



This post will look at what a CPN is, how it operates, and why you should be wary of it.

What is a CPN?

CPN, also known as a Credit Profile Number, CPN known as credit privacy number, is a 9-digit number that you can use to replace the Social Security Number when applying for credit cards or loans. 

Although it is legal to apply for the new CPN through the Social Security Administration Office (SSA), you must have an excellent reason to be approved, and a poor credit score isn't among the factors. Applying for the new CPN but not approved will be tied to your existing SSN.

Companies typically market CPNs as a new number to conceal the negative credit score of banks or other financial institutions. CPNs aren't a viable long-term option for fixing poor credit, and in actuality, the acquisition of one from any source outside of the SSA is not legally legal. 

CPNs sold are inactive Social Security Numbers stolen from those who do not use the numbers, for instance, prisoners or children. It means that you're using the SSN of someone else, but not a brand-new CPN given to you.

Some may also use the term CPN by credit protection number or Consumer Profile Number. If you're offered one of these, remember that they're all the exact thing.

How Do CPNs Work?

The Claims About CPNs

CPN sellers often state that using these numbers is permitted due to the U.S. Privacy Act of 1974. This law allows individuals to conceal their SSNs in documents if giving their SSN is not explicitly required under federal law.

Because the federal government doesn't require consumers to provide SSNs for credit applications made by private firms, you are permitted not to provide your SSN. However, the creditor is free to refuse you credit without the information. 

It is important to note that the U.S. Privacy Act of 1974 doesn't allow any use of CPNs to substitute your actual SSN for credit applications in contrast to what some credit repair firms would like you to believe.

The reason why some people can be able to get away with using fake SSNs that are sold under the name of CPNs on credit application forms instead of their actual SSN is that lenders can fail to verify applications in a thorough manner enough to ensure that the name that appears on the application is identical to the SSN.

Where Do CPN Numbers Come From?

The Social Security Administration is the source for all SSNs, and the Internal Revenue Service (IRS) is the primary source for every Employer Identification number (EINs). They don't issue CPNs, nor do other government agencies issue these numbers.

While you might come across companies offering "clean" CPN numbers for sale, they will not reveal the source of these numbers or how they came to be there, and they can't provide authentic documentation about where these numbers came from.

Certain sellers falsely claim they have lawyers who can apply for a CPN number from the government on behalf of you; however, since the government doesn't issue CPNs. There are two ways that shady companies can obtain CPNs, and both are unlawful:

  1. They use authentic SSNs that were stolen from other people, typically from the elderly, children, homeless persons, or people in jail. The target of scammers is these groups since they are less likely to realize that their SSNs are compromised. If someone claims to offer you a CPN with a particular rating or credit report attached to it, that's an alarming sign that it might have an old SSN that was stolen from another.

  2. They make up false social security numbers that haven't had a chance to be issued by the United States government. They use algorithms to create 9-digit numbers and then check them against online databases to determine what numbers can be used as SSNs. Then, they sell those numbers under the guise of CPNs to uninitiated consumers.

Conclusion

A Social Security number is the most significant and highest-level personal identification number used throughout the United States. The government is the only one who issues these numbers, and they are not traded or bought on the market. 

Making false statements about your SSN is considered an offense against the federal government, and the use of CPN in place of your SSN CPN instead of an SSN may also result in you being implicated in federal crimes.

CPNs have become a prominent part of a new type of fraud dubbed fake identity fraud. Although it is a new issue, however, the government is rapidly catching up with illegal companies that sell CPNs. They help those looking to create a fake identity to earn money.

Although numerous companies proclaim that CPNs are legal, the federal agencies that regulate CPNs have stated that it is not valid.
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