A Credit Privacy Number (CPN) is a false number with a similar 9-digit design as a Social Security number. Individuals who are submitting bank extortion use CPNs to apply for credit under a changed character. Credit privacy numbers are not legal, nor are they issued in any form by the federal government, and using a CPN to apply for credit is fraud.
What is the purpose of using a Credit Privacy Number?
A fraudulent Credit Privacy Number is used instead of a Social Security number when applying for credit. Scammers sell people credit privacy numbers to establish a second line of credit or reset their credit score. CPNs creators promise a way to open new lines of credit without being hindered by older, lower credit scores from the primary credit report. For this reason, CPNs are tempting to some people, even though they are illegal.
Unfortunately, credit protection number scams exploit loopholes in the credit bureau databases Social Security Administration and Credit Bureau. Some lenders do not accept a fictitious Social Security number. As we approach 2022, lenders have caught on to CPNs and are aware of blank credit files that are loaded with Authorized users to make a purchase.
In addition, there have been several that have been arrested, charged with crimes, denied credit cards, loans and automobiles due to lenders catching the fictitious numbers. So, if you are looking for a quick fix on your credit you should think twice. Plan ahead and work on your repairing and building your personal credit.
Synthetic Identity Fraud
Synthetic identity fraud is the most common form of credit card fraud in America and is responsible for 80 percent of credit card losses. Artificial identity credit card numbers are created using an algorithm to generate 9-digit Social Security numbers. These numbers are then matched against an illegal online validator/Tri-merge to determine if the number passes as a valid Social Security number. Privacy numbers created through synthetic identity fraud often use Social Security numbers not yet assigned in the United States.
Identity Theft
Identity theft is also used to create private credit numbers with a verified credit history or a preset credit score. These individual credit numbers are made utilizing taken Social Security numbers from the elderly, kids, deceased, or imprisoned. The social security numbers of these populations are more commonly used for identity theft because they are unlikely to notice the theft. Privacy numbers that promise a specific credit score or credit history are often stolen Social Security numbers.
Are CPNs use illegally?
Credit privacy numbers come from the legal gray area of the Privacy Act of 1974. This law allowed people to retain their Social Security numbers if not needed by other government laws. Although this law was created to protect Americans' privacy, this law does not make Credit Privacy Numbers legal. Using a fictitious credit data number is considered identity theft and can result in heavy fines and jail time.
Engineered ID misrepresentation, including Visa number extortion, represents 80% of Visa misrepresentation today. Fortunately, lenders are becoming more adept at recognizing these numbers, but that does not stop some Americans from falling for this scam.
How to avoid credit card number fraud
There is no such thing as a legal credit data protection number. Any website, business, or vendor that promises a fair credit data protection number is likely committing fraudulent practices. As the FBI continues to stop credit data protection number scams, you still need to avoid some key signs of a CPN scammer.
Red flags of deceit:
- Requires a change of phone number
- Demands a new email address
- Promises a new credit score
- Discourages the credit reporting agency from contacting you
Transforming anything about your present personality is an obvious indicator that the con artist will assist you with the false submission. Scammers may claim that changing certain aspects of identity provides additional security, but they suggest changes to fit into a new identity.
Reporting credit card number scams
Because many forms of identity fraud are difficult to combat, reporting this type of crime is greatly beneficial. If you encounter a credit number scam, there are some steps you can take to report the fraudster.
Your state's attorney general's offices conduct many investigations into companies that run illegal scams, including credit card number fraud. In addition, Federal Trade Commission has a business complaint line where you can provide any information about your exchange with the scammer.
The right way to repair your credit
Instead of turning to illegal cpn scammers to apply for new credit, there are many paths you can take to legally repair your credit card. Our guide to improving your credit score focuses on effective, sustainable ways to improve your score. Also, alternate ways can assist you with further developing your credit score or assessment. These include credit repair services that help you remove the negative entries on your credit report.
What is the correct method to further develop your Credit Score?
If your credit score is so bad that you use bogus Social Security numbers on new applications, you probably have at least a few entries on your credit report that are worth challenging. You can, of course, try to do this yourself by contacting each creditor and trying to negotiate settlements and entries on the reports. Another option is to work with a reputable credit repair service.
Professional help
The best credit repair companies will not offer you shady deals, such as a credit privacy number. Instead, they will strategically look at each entry on your credit report to see what you can fix. They know the law inside and out and diligently advocate for you while ensuring that the creditor or collection agency acts lawfully. You should always try to repair your credit with proven strategies that use the law in your favor.
