CPN, LEGAl or NOT? "YES IT IS VERY LEGAL"
FBI's Definition of; "What is a CPN, Piggy Backing, & Seasoned Tradelies?"
34) A FICO score is a credit score that determines the likelihood that credit users will pay their bills. The score is developed using models and mathematical tables that assign points for different elements or pieces of information that best predict future credit performance. FICO scores range from 300 to 850, and are calculated based on payment history, balances owed, length of credit history, types of credit used, and new credit history.
FICO 08––introduced in the latter part of 2008––is a new scoring formula designed to more accurately predict loan defaults. One of the primary purposes of FICO 08 was to eliminate the practice of “piggybacking.” This occurs when individuals are permitted to add authorized users on their credit accounts to boost their credit scores. Many lenders have opposed this change because it inhibits compliance with Federal Reserve Board regulations and hinders authorized users, such as wives and college students, from establishing or maintaining a credit rating.
35) Credit Privacy Numbers (CPNs) are nine-digit file numbers that follow the same algorithm as Social Security.
Account Numbers (SSANs). Currently, federal law allows individuals to legally use CPNs for financial reporting and protects those individuals who do not wish to disclose their SSAN. Individuals who acquire CPNs are completely responsible for any debt they incur using this number.
36) Seasoned trade lines are lines of credit that are held open in good standing for an extended period of time, typically for at least two years. http://www.fbi.gov/stats-services/publications/mortgage-fraud-2008
