Bad Credit Score

It doesn’t take much for criminals to hurt your credit, but it can take months for you to restore it. And in the meantime, a bad credit score can make it harder for you to get a good interest rate on a loan or mortgage.  Just because you haven’t seen anything out of the ordinary pop up on your credit, doesn’t mean you’re in the clear. Once your information is out there, criminals can choose to use it at any time. If you’re worried about 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.

A CPN Number or SCN Number is separate from your Social Security Number (SSN). It helps to protect one’s Social Security Number (SSN) from various internet threats such as identity theft. These numbers can be used in place of the Social Security Number (SSN) when an individual applies for credit. Creditors do not get any benefits when their clients get a new credit file. Based on the 1974 Privacy Act, a person is not obligated to give his or her Social Security Number (SSN) to any private entities. When it comes to the legality, CPN Number (Credit Privacy Number) / SCN Number (Secondary Credit Number) are completely legal. However, it should be kept in mind that they can be utilized for credit purposes only and not for deceitful intentions.

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. Getting a CPN Number (Credit Privacy Number) / SCN Number (Secondary Credit Number) does not release a person from his or her previous debts. In fact the individual remains liable for all debts incurred on credit accounts referencing a SSN OR CPN OR SCN. Obtaining this number will not replace old bad credit score.