I see that you guys are reading the blogs that I am posting, so I figured I would post some more Q&As for you. Let us know what comments, questions and suggestions you have and we will add them to the next blog or conference call!
Q: Why do I have to use info that is unattached to me?
A: A CPN is a different credit profile than your SSN. You do not want the 2 of them to merge together. having said that, you will want to provide an address, email and phone number that are completely unattached to you.
Q: How many CPNs can I have?
A: Legally, you can only have 1. If there is anything wrong with the first number itself, we will provide another at no cost. If there is client error, we do not replace the CPN.
Q: What bank account can I open?
A: I advise opening either Ally.com personal checking or US Bank. Etrade is also another great one. I personally have Ally and Etrade. You will want to have at least 1 line posted to your credit before you attempt to open an account online.
Q: How is a CPN legal?
A: Please visit the legality page of our website for the full answer to this questions.
www.TheCPNpros.com/legality.html
Q: How does brokering work?
A: Check out our last blog post regarding this questions. If you would like to become a broker, just send us an email, purchase some CPNs in bulk and then send us the information for each client whenever you wish. Your CPN credit does not expire. Ever. We then create the CPN for you, and email it back. You then forward it to the client. You will want to make certain that you delete our contact information from the emails.
Q: How can I check my credit?
A: I recommend only 2 sites for CPNs:
creditchecktotal.com and freecreditreport.com
Q: I'm using a friend's address but I want to keep this confidential. How can I accomplish that?
A: There is no need for explanation as to why you would not want for your mail to go to another's address, so this is all you have to do:
Forward your mail to the address you wish to receive the mail at with the USPS using a mail forwarding form. You will want to put the address you are currently using (the friend's) as the old address, and where you wish to receive the mail at as the new address. Do it for ONLY 6 months. Repeat in 6 months.
Q: What is your turnaround time?
A: CPNs are delivered in 24-48 hours. There are instances where there may be a delay in delivering, but CPNs are always delivered.
Q: What happens if I screw up my first CPN?
A: It is not legal to have more than 1 CPN. You will want to treat this with care, as you cannot get another one.
Q: Where can I find more info about the legality of CPNs?
A: www.TheCNpros.com/legality.html
Q: What if I cant find an address?
A: Have you thought about asking a friend to use their address? As long as they have never been a credit reference, you may use them. You can also find an address on zillow.com and do a forwarding to the address that you wish to receive the mail at. Do a TEMPORARY forwarding only.
Q: Why do you apply to Capital One Auto Finance for my CPN?
A: I do not understand why I send information with a CPN and it does not get read, as I spend a lot of time putting everything together for my clients. The process in which we attach a CPN to a client's information includes applying for credit that will create an inquiry, therein attaching the info to the CPN. The first step is always applying to Capital One Auto Finance, as it reports to all 3 bureaus.
Q: Why do you have an "@mailinator.com" email address for my profile?
A: When you see this, it means that we were not given an email address for the CPN file; this is a generic email address and one cannot get into it to retrieve mail.
Q: I've heard that I can get an American Express card with my CPN, is this true?
A: So many clients wish to obtain an Amex card using their CPN. There are many brokers that advise their clients to apply to Amex, stating that they will be approved. In my experience, yes, you can get approved, but after about 60-120 days they will have you release your tax records to them. You do not have tax records with a CPN.
Q: Can an address and a phone number be used more than once?
A: An address can only be used 2 times. Same with a phone number. They cannot be used more than once for the same person.
Q: How does my CPN relate to my SSN?
A: They are two completely different and separate credit profiles. The entire point is to keep them separate and not have them match, merge or be similar.
Q: Can I use a friend's address?
A: Yes. You may use a friend's address if they have never been a credit reference to you.
Q: Can I use a PO BOX or a business address?
A: No. It must be a residential address. It can be a residential address with a unit/box number, such as with UPS.
Q: Can I use my current or past employment?
A:. No. You must create employment that you wish to be attached to your CPN profile that has never been attached to you before.
Q: What are authorized user tradelines?
A: Authorized user tradelines (AU's) can be added to your credit report to enhance your score and history quickly so that you may obtain credit. This means that a cardholder adds you as an authorized user to their credit account. It then reports to your credit.
Q: How many small accounts should I get before I go for higher credit?
A: I suggest getting 3-5 smaller accounts before applying for higher credit limits. This means that you should get a Capital One small limit card ($300-$500), and then add 3-5 department store cards before applying for another unsecured credit card.
Alright, that should be enough information for today. Let us know what else you would like us to post about. Either call us at 518-708-7308, visit us at facebook.com/cpnpros, email us at cthedreamworld@hotmail.com or info@thecpnpros.com.
