1. How does a CPN credit file work ?
First and foremost you must understand that a CPN credit file is not an SSN - EIN or an ITIN credit file - It is a number that has the same amount of digits, but is by far the same thing. You must understand this, before even starting a CPN. If you do not, ask me and I will explain more.
How it works is pretty simple. It works no different than an SSN credit file. You build it, you apply for credit, and you are 100% responsible for anything that you receive from it.
2. Can a CPN credit file be used the same day you receive it?
The answer is very simple. No it cannot be. To even start out a CPN credit file, your personal information must be attached to it first. This means - Your name - address- phone - date of birth and email address must be attached to the CPN credit file. If it is not attached, then it is nothing but a useless number. Even after doing this - it still is not ready to use. Remember - Just because you have login to a monitoring site, it does not mean that the file is ready to use either. It just means that your information is attached to it !
3. Once personal information is attached, is it ready now?
No, it is not. What happens now is public record attaching. Public record is when your personal information is put out there into public. Loyalty cards, Magazine subscriptions, Pre-screened credit card offers, prepaid debit cards - email providers (AOL - GMAIL- YAHOO - OUTLOOK) and social media ! This allows creditors to obtain your file (soft pull - no inquiry) without pulling your entire file. Verifying public information is a huge part of obtaining credit. If you do not have public record listed on your credit file, you will be denied 95% of the time.
4. How long does it take to have public record attached?
If you do it right - It will take approximately, 10 business days from the time you complete the public record.
5. What are the reasons CPN credit files do not work?
There are a few specific reasons why a profile does not work. Before anything else, check these before you toss it aside !
A) The information given - Address - Phone - and Email (usually Gmail email addresses) is directly associated to your SSN credit file. This can happen if you give a direct relatives information or even a friend who you have used as a credit reference at some point in time.
B) You have not properly tri-merged your information. Tri-merge (Attaching your personal information, name, address, phone, DOB and email address used for your profile. Go back and re-trimerge - (You should have done three hard pulls to attach your information)
C) If you have gotten your number from someone else, it could be a bad number - Meaning, it could be a real SSN number or just some number that was incorrectly generated.
6. How can you tell if one of the three above answers has happened?
A) You cannot open up credit monitoring.
B) You are getting credit inquiries on your SSN file from your CPN file.
C) You keep getting denied.
7. Can you have more than one CPN file?
Simple answer NO you should not ! Do you have a second SSN number? No, you do not.. One is all you are suppose to have.
8. Can you buy a home with a CPN file?
No you cannot - Do not let anyone tell you that you can.
9. Can you use your CPN file for employment?
No you cannot - Do not let anyone tell you that you can.
10. Can you file taxes using your CPN file?
No you cannot - Do not let anyone tell you that you can.
11. What can you do with a CPN file?
You can do everything except - Buy a house - use for employment and file taxes with. Everything else you can do and are responsible for when doing them !
12. Is using a CPN file illegal?
You will see all over the internet that there are conflicting answers to this question. The fact is, that CPN files are legal, however they can be illegal very quickly. If you have bought one from someone that has issued you someone else's SSN number - It is illegal. If you are going around buying numerous ones in your name, just to burn the credit up and not pay it, it is illegal. If you do not disclose when asked if it is a CPN number or an SSN number - It is illegal. There is a fine line between the legality of the CPN files - if you treat it as if it were your SSN credit file, you will have no issues, if you treat it like its just a throw away number, you will have issues. Again, any credit obtained on your SSN file and your CPN file is 100% completely your responsibility. Use them both wisely !
MORE QUESTIONS & ANSWERS TO COME ! IF YOU HAVE ANY THAT YOU THINK SHOULD BE POSTED - SEND THEM TO ME and ILL POST & ANSWER THEM HERE !
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