What is SSN, and what are Credit Scores?

SSN is an acronym for Social Security Number, a nine-digit number given to US citizens, which helps the government know about individuals' income. It can now also be considered as Income Tax Number. Social Security Number or SSN was assigned back in the early 90s to provide retired, and old age people benefits concerning money.

Uses of Social Security Number

It was mainly created to track individuals' earnings and help the government know more about how much tax should be charged. It can also track citizen’s credit scores, apply for insurance, or open a bank account.

Types of Social Security Number

The US government issues three types of cards depending on various factors. The most common one is issued to permanent residents of the US and is valid all over. At the same time, the others have certain restrictions applied. The other two have written mentioning when and where they can and can’t be used.

Is Social Security Number Safe?

The social security number issued by the government is considered to be safe. Still, it is also important to keep in mind that this same number is used for various other things, such as linking with the bank’s accounts, having entire identity information. Some cases reported the misuse of SSN for identity Theft. SSN+credit is such a number expected to be known by only the bearer of that number and no one else. When exposed to others, it can lead to cases of identity theft.

Relation between Credit Scores and Social Security Number

SSN plays a very important role while wanting to know the credit score and credit history. It has now become the basic identity number required to get the details about credit scores. People who don’t have or are eligible for a Social Security Number are at a loss. They have to pay more for various things, which usually will be less if a Social Security Number is assigned.

Social Security Number is a very important number for every US citizen. Almost all citizens are issued with SSN, which brings them an added advantage and helps the government track various income-related issues.