| Daily emails claiming to raise your credit score are | | | | all-sized businesses needing a tax id separate from |
| often enticing, somewhat informative yet nothing more | | | | the owner's (if individually owned) personal social |
| than scams to loosen your wallet. Sure, a lot of what | | | | security number. |
| they claim is true, but for the most part, it's illegal. | | | | Years ago, when the government wasn't onto these |
| The more well-known credit scam to boost your credit | | | | types of scams, this new EIN number would bypass |
| score is the new identity scam. Can you really get a | | | | the unsuspecting credit lender. But today, these EIN |
| new identity and will this wipe your Fico credit score | | | | numbers, when referenced, show up as a business |
| clean instantly raising your credit score? | | | | entity. See, with all the databases and various access |
| No. The only way you'll get a new identity is by | | | | levels lenders have, they can see which numbers are |
| applying for a new social security number and the | | | | authentic social security numbers and which are EIN |
| Social Security Administration will not issue those on a | | | | numbers. How you may ask? |
| whim. | | | | Well, the Social Security Administration will verify for |
| Scammers try and sell this notion to the desperate: | | | | free an authentic SS# and the EIN number. |
| why, what they are selling is called File Segregation | | | | So buyers beware; these scammers claiming to be |
| and it's a felony in all states and won't work for | | | | able to get you a new identity with a new credit file is |
| several reasons. | | | | a half-truth. Sure, you'll get a new credit file that shows |
| People looking to raise their credit score are told to | | | | you are a new business entity with an insufficient |
| apply for a new EIN number and use this in place of | | | | credit file and you still won't be able to get new credit. |
| their social security number. EIN numbers are utilized by | | | | |