If you’re worried about another Equifax Breach, identity theft or have recently had your Social Security number compromised, you may be wondering how you can protect yourself from fraud. Perhaps you’ve heard a credit privacy number, or CPN, is a way to do that.
Using a CPN Number (Credit Privacy Number) / SCN Number (Secondary Credit Number) makes it easier to segregate finances in the event of identity theft. Without access to a Social Security Number (SSN) the thief is somewhat limited in the amount of difficulties they are
creating for the rightful owner of the number. You can use your new credit profile obtain major credit cards, department store cards, gas cards, auto loans, bank loans, real estate, and any other type of financing you desire.
Credit Privacy Numbers (CPNs) are nine-digit file numbers that follow
the same algorithm as Social Security Account Numbers (SSANs).
Currently, federal law allows individuals to legally use CPNs for
financial reporting and protects those individuals who do not wish to
disclose their SSAN. Individuals who acquire CPNs are completely
responsible for any debt they incur using this number. A CPN isn’t always a substitute for an SSN, though: You can’t use it for documents submitted to the IRS or an employer, registering a vehicle or applying for a government loan, for instance. If you have a CPN, it’s on you to know when you can and can’t use it.