WHATS A.......

Whats A CPN?

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The first thing you need to do before gaining a CPN Number is clearly know what it is. This will save you a lot of time and headaches in the future.

What is a CPN number? A CPN Number is a 9-digit number like an SSN number. The difference is a CPN Number is only for credit reporting purposes. You cannot use this number for anything besides reporting credit. It will not pass full background checks, or permit you to use it to report taxes, establish an EIN or open a traditional bank account.

The main function of your SSN is tax reporting. That is why the government gives you this number at birth, to track your taxes. Banks and financial institutions took it upon themselves to start tracking your information via your social security number. Even though that is not what it was designed for. You can report taxes, pass backgrounds with your SSN.

So, how can it benefit me? Since CPN numbers are for credit reporting purposes hence the name (CPN, Credit Profile Number). You can build a credit report apart from your SSN number. This will allow you to obtain new credit while resolving the issues on your own credit report. This should always be used as a temporary solution. Repair your own credit if possible, always.

The things can and cannot do with a CPN Number:

YOU CAN!!

• Obtain Credit Cards

• Obtain Store Card

• Obtain Personal Loans

• Rent an apartment

• Purchase a car

• Start Utilities

YOU CANNOT!!

• File Taxes

• Open A FDIC Bank Account

• Pass Background Checks

• Obtain FDIC Insured loans

• Obtain Department of Education Loans

• Use as your SSN for any purpose other than credit

Here is proof that they in fact are legal.

31 CFR 1.32 – USE AND DISCLOSURE OF SOCIAL SECURITY NUMBERS.

1.32 Use and disclosure of social security numbers. (a)In general. An individual shall not be denied any right, benefit, or privilege provided by law by a component because of such individual’s refusal to disclose his social security number.

Basically, means you cannot be denied credit or any privileges because you refuse to provide your social security number.

Reference Cornell Law: 31 CFR § 1.32 - Use and disclosure of social security numbers.

Social Security Numbers are designed for tax reporting purposes only.

Private companies including banks, financial institutions and consumer reporting agencies such as Equifax, TransUnion, and Experian have taken it upon themselves to use your social security number to track your financial history.

They have done this because congress has failed to enact new credit reporting laws since the 1970 FCRA (Fair Credit Reporting Act) when credit was not as prolific as it is now.

The 1970 FCRA also paved the way for the CPN loophole. Where you can create a secondary number for credit reporting purposes.

The government has been using CPN numbers for decades, that’s how they protect the financial information of thousands of high-ranking government employees. Artists and athletes also use them to protect their identity from being stolen.

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