The Credit Privacy Number

The Credit Privacy Number, or CPN, is a nine digit identification number that can be used to report financial information to credit bureaus. Available for use primarily in the United States, the CPN can be utilized instead of an individual’s nine digit Social Security number for many types of credit transactions. However, the CPN should not be viewed as an equitable substitute for the Social Security number in all situations.
Also known as a credit profile number, the CPN has its main advantage when it comes to tracking credit transactions and evaluating credit history. Rather than using a Social Security number for all credit transactions, using a CPN makes it easier to segregate finances in the vent of identity theft. Without access to a Social Security number, the thief is somewhat limited in the amount of difficulties that are created for the rightful owner of the number. This is because there are several types of financial transactions that cannot be conducted using the CPN.
Transactions that cannot be conducted using a CPN include information given to an employer, documents submitted to the Internal Revenue Service, and registering a car or truck. The CPN also cannot be used when applying for one of the several government sponsored home loan options, such as Sallie Mae or a FHA loan. However, a legal CPN can be used when applying for credit cards and obtaining financing that is not government related.