Before you have a mild (or major) panic attack because even just hearing the word “credit” makes your heart sink into your belly, it’s not as scary as you think. It’s also not as hard. I know that credit scores and credit in general can be boring to learn about, but it is important that you know the basics. If you want to take out a mortgage one day, you’ll need to have a good credit score, or be capable of getting there. You can bounce back from bad credit!
To bounce back from bad credit you can start by getting a CPN Number / SCN Number It is a nine digit number separate from your social security number used to track your credit activities and history such as a EIN, ITIN, TIN or SSN, but their can be other formalized government or institutionally issued 9 digit number which can be issued and used for credit purposed. Those number will protect your Social Security Number (SSN) from identity theft. The CPN Number / SCN Number does not replace your Social Security Number (SSN), CPN Number / SCN Number can only be used for credit reporting purposes. It cannot and should not be used for any government purposes including and not limited to: military, child support, DSS income, SSI, taxes, FHA, VA, or any government backed funding, which requires an individual to list a SSN number. You can use your new CPN Number / SCN Number for any credit reporting purposes. Use it to opening a bank accounts, credit cards, personal loans, auto loans, apartments, utilities, cable, cell phones, etc.