Have you ever asked yourself How Can I protect My Social Security Number? We have the answer for you! When you use a credit privacy number, or CPN, is a nine-digit ID which can be used in lieu of a Social Security number for credit reporting and other financial purposes, like applying for a loan this will protect your social security number. Also called a credit profile number, a CPN is primarily used for tracking credit history or applying for loans. Using a CPN is the best way to answer How Can I protect My Social Security Number?
Like an SSN, each person can only have one CPN. It’s used as a unique identifier for your financial transactions and lets lenders and credit reporting agencies keep an eye on your borrowing history. However, a CPN can help you keep your finances safe and hidden from the public eye. For that reason, it’s popular among elected officials, celebrities and people in witness protection programs. As the name implies, it’s mostly used by people who need a little extra privacy. 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. 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. You are responsible for all debts on your old report and debts incurred with your CPN Number / SCN Number. You must remember that while you are rebuilding your credit, you must use your new number wisely.