What is CPN Numbers - Authorized User Tradelines

When you struggle with bad credit, you know that it can be very challenging. Bad credit can prevent you from getting approved for a credit card or car loan, making renting an apartment complex. So, Therefore, if you see an ad promising to establish a new credit history by giving you a CPN number, you may find that it seems like the answer to your prayers. But is that so? The CPN, or credit privacy number, is a nine-digit number formatted like a Social Security Number (SSN). It may also be referred to as a credit profile number or credit security number. Companies sell these CPNs to consumers to hide bad credit histories or bankruptcy records. Furthermore, they will claim that you can use your CPN in place of your SSN to apply for a loan using your new credit identity.

Why do people want to use CPN?

There are several reasons you might want to use a CPN number. First and foremost, you may be concerned about identity theft - after all, someone getting your hands on your social security number could wreak havoc on your life - they could open a bank account and apply for credit cards and loans in your name, or take advantage of your medical benefits. And professional. Another reason you'll want to protect your Social Security number is that someone who gets the number can learn a lot of information about you - where you live, what you own, and what's happening in your life.

How to Rebuild Your Credit the Right Way? 

You can't get rid of bad credit right away by buying a Credit Profile Number. Consider this an alternative: Rather than buying a CPN number, invest the money you would have spent in repairing your credit history the right way. Here's how:

1. Pay your bills on time: Timely Payment is the most significant factor in your credit rating. Even if you can only make minimum payments, paying on time helps. Set up reminders for yourself or set up automatic payments in your account to avoid missing due dates. If all of your bills are due around the same time and it's challenging to pay them all at once, contact the lender and ask if you can change the due date. Are you good with paying your cable bills, utility bills, or phone bills timely?

2. Keep old credit accounts open: If a credit card is making a hole in your pocket, closing your account after a withdrawal can be an intelligent way to get rid of the temptation. However, it will also reduce your overall credit, usually increasing your credit utilization. Keeping old accounts open also indicates that you have had credit for a long time, which benefits your creditworthiness. Even if you don't intend to use it, you should consider keeping an old credit account open.

3. Reduce your credit utilization ratio:  This ratio shows how much credit you are using and ranks second only to payment history when calculating creditworthiness. To keep your credit fit as a fiddle, you should not use more than 30% of your available credit but consider single-digit yields for the best results.

You can start paying back your loan by getting a free credit report from CPN Tradelines. This tells you which factors are most damaging to your results so you can begin improving those areas first. By following the steps above and being patient, you will gradually increase your credit score.