Why CPN Numbers Are Simply Not Effective
The market for CPN numbers is very high since the economic woes of 2008 until now. In fact, the demand for CPN numbers pre-2008 was even higher when they were being utilized for real estate and similar niche methods to help support financing during the funding era.
In recent times the bureaus have become much more intelligent in detecting a CPN number versus a person’s real SSN. CPN numbers can work if done correctly, there are people out there who put the unnecessary time and effort into building a profile from a CPN number.
CPN Numbers are cheap, and can get anyone quick and easy credit, but the long term may carry risks that are simply not worth it.
However, we do not recommend utilizing CPN numbers because we feel they are illegal. Some will argue that a CPN is not, websites such as “Legal CPN” claim that their approach is legal, and the truth is their approach is legal however nobody would ever get credit utilizing a credit privacy number from legal CPN.com because they are simply masking an EIN to look like a CPN credit privacy number.
They simply attach your number to a registered EIN and number which makes the process seem more legal in some sense, but it defeats the entire purpose. Why would a bank, credit union or lender issue credit on a personal SSN, that has somehow been filed as EIN number, has no history, and simply will not pass the litmus test of the credit bureaus.
Bureaus will check to see when your SSN card was issued, this poses another problem for CPN’s. If you have a recent issue date, its simply not that easy to get funding especially when the lender has the right to deny you for any reason.
Our CPN numbers legal? They have other names too…like SCN.
Not to mention, is this even legal anyway? I can’t imagine anyone thinking that a SCN number would be legal. You’re not disclosing that is a SCN on credit file, the lender on an application is requesting your SSN. If it’s not fraud, is certainly very close to the line. And, I would not want to be that person who defaults on credit they obtained with a SCN number. CPN credit, CPN Trade lines, it all brings a certain element of risk when you are dealing at this level.
The good news is you don’t need to build a CPN. But it’s easier with an SSN anyway.
When can a SCN/CPN Profile be of use to a consumer.
There are cases where a CPN profile may work for a person. Somebody who is interested in immediate credit scores, to impress a landlord, or for other personal reasons that would be considered more private rather than institutional, this can make sense.
We have seen people rent luxury homes under a CPN profile, then reread the property to others you have poor credit knowing that if they default only there new credit number would be affected.
They generally will collect a premium from the renting party who has poor credit, but is willing to pay because they believe the person who is subletting this property is risking their personal credit but they’ve been building for their entire life.
There are many creative examples such as this to utilizing such a number. The trick is getting a clean CPN number so the Trade lines will actually post.
Most people don’t understand that it’s important to open the file with an authorized user first, or a simple inquiry to a letter will pull a single bureau is preferable so you save the inquiries on the other two bureaus.
Once the inquiry is pulled and the file is open, it may be wise to add an authorized user to the file to establish a stronger profile that is ready for Seasoned Trade Lines.
50% of the time a lender will detect a CPN number, this percentage could go higher as their systems are becoming more and more intelligent, and once again we still believe that this is a gray area and possibly illegal in some cases and is just simply not worth the risk especially when a person can simply use their own personal social security number and removal credit items quickly, add new Trade lines to their profile creating a much stronger file to go to the lenders with.
A 750 with a Social Security number real profile is much more valuable then a similar profile that is a CPN. In fact, it is our experience that we have seen almost 70 to 80% of the credit gets denied that should have otherwise been approved utilizing a CPN number.
There is a very exclusive group of people out there who like to take risks, but they do get credit utilizing credit privacy numbers.
If you are interested in a CPN number, there are ways to make it work but it must be handled a certain way. Legal CPN charges $300 including a very straightforward contract preventing you from doing or executing a chargeback.
They have put a lot of thought into their website and how they approach a CPN number, is quite clever actually but it will not get anyone and also credit so it’s not worth the time.
It is amazing however, how many people have started with a legal CPN number that they just simply threw away, it’s almost like an initiation into the world of CPN when getting started in this business.
Note: We do not sell CPN profiles. CPN numbers are simply being used for fraud, and its not worth the risk. In some cases, its a solution that works, but in most its not. Please use caution when dealing with people who build CPN files. You can accomplish much more with your SSN file, and legally adding credit with AU’s and primaries.