How to improve your credit score legally without a CPN number in 2023

Your credit score is a number that reflects your creditworthiness and how likely you are to repay your debts. Having a good credit score can help you qualify for better interest rates, loans, mortgages, credit cards, and other financial products. However, if you have a low credit score, you may be tempted to use a CPN number to boost it.

A CPN number is a credit profile number that some people use instead of their Social Security number when applying for credit. They may think that this will help them get a fresh start or improve their credit score. However, using a CPN number is illegal and could have serious consequences.

In this article, we will explain why you should avoid using CPN numbers and how you can improve your credit score legally without them.

Why you should avoid using CPN numbers

CPN numbers are not issued by the government or any legitimate agency. They are often stolen or fabricated Social Security numbers that belong to someone else, such as children, the elderly, or the deceased. If you use a CPN number, you could unknowingly commit identity theft or fraud.

Using a CPN number could also land you in jail or in debt. Falsifying your information on credit applications is a federal offense that could result in fines or imprisonment[^3^][1]. Moreover, if you use a CPN number to obtain credit, you are still responsible for repaying the debt. You could also face legal action from creditors or collection agencies.

Using a CPN number could also damage your credit even more. Credit bureaus only accept valid Social Security numbers, so any alternative number would not work for the purpose of checking credit. If you use a CPN number, you could end up with multiple credit profiles or no credit history at all. This could make it harder for you to get approved for loans, mortgages, or credit cards in the future.

How to improve your credit score legally without a CPN number

The best way to improve your credit score legally without a CPN number is to follow these steps:

Pay your bills on time

Your payment history is the most important factor in your credit score, accounting for 35% of it. Paying your bills on time shows that you are reliable and trustworthy. If you have missed payments in the past, try to catch up and stay current. You can also set up automatic payments or reminders to avoid missing deadlines.

Reduce your debt

Your credit utilization ratio is the second most important factor in your credit score, accounting for 30% of it. It measures how much of your available credit you are using. A good rule of thumb is to keep it below 30%, and lower is better. The highest scorers use less than 7%. To lower your credit utilization ratio, pay down your balances as much as possible and avoid maxing out your cards.

Check your credit reports

You are entitled to one free copy of your credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) every 12 months through AnnualCreditReport.com. You can also get free access to your credit reports through some online services like NerdWallet. Review your reports for any errors or inaccuracies that could be hurting your score. If you find any, dispute them with the bureau and the creditor involved.

Build a long and diverse credit history

Your credit history is another important factor in your credit score, accounting for 15% of it. It shows how long you have been using credit and how well you have managed it. Having a longer and more diverse credit history can boost your score. To do this, keep your old accounts open and active as long as they don’t have high fees or interest rates. Also, try to have a mix of different types of credit accounts, such as revolving (credit cards) and installment (loans).

Apply for new credit sparingly

Your new credit inquiries account for 10% of your credit score. Every time you apply for new credit, the lender will check your credit report, which will result in a hard inquiry that will lower your score temporarily. Too many hard inquiries in a short period of time can signal that you are desperate for credit or taking on too much debt. Therefore, only apply for new credit when you really need it and when you are confident that you will be approved. You can also use pre-qualification tools to check your eligibility without affecting your score.

Use credit-building tools

If you have no credit or bad credit, you may find it hard to get approved for traditional credit products. However, there are some tools that can help you build or improve your credit without a CPN number. For example, you can use a secured credit card, which requires a refundable deposit as collateral and reports your payments to the credit bureaus. You can also use a credit-builder loan, which lets you borrow a small amount of money and repay it in installments while building your credit history. Another option is to use a rent-reporting service, which adds your rent payments to your credit reports and helps you establish a positive payment history.

Conclusion

Using a CPN number to improve your credit score is not a good idea. It is illegal, risky, and ineffective. Instead, you should follow the steps above to improve your credit score legally without a CPN number. By doing so, you will be able to enjoy the benefits of having good credit and avoid the pitfalls of having bad credit.