erin963
SSN ITIN and credit reporting
1423
5
2006-10-03 12:15:00
Sorry for writing in English. Boardmanager, please translate it into Chinese if you think necessary.
Misunderstanding about credit history:
1. NO SSN, NO CREDIT HISTORY WRONG
2. NO SSN, NO CREDIT CARD WRONG
I saw some arguments here about SSN and ITIN. Based on my understanding, ITIN could definitely get you a credit card. Experian told us that SSN is NOT the ONLY way to identify a person, although it is a most straightforward way.
Please have a look at the following link:
http://www.experian.com/ask_max/max100505b.html
When somebody's name is provided to the credit card company, they will report it to the credit bureau and the bureau will try to identify it, based on SSN, name, address.... Therefore, they would put it under the corresponding credit files or somebody else's if the SSN is not available. SSN is very important but could be missing. There are lots of accounts without SSN in the credit bureau's files.
BUT, don't rely on the theory, You MAY or MAY NOT have a credit history when you do not have SSN, depending on the credit card company and other credit reporting agencies.
[此贴子已经被作者于2006-10-3 12:17:42编辑过]
Thanks for the article clearing things up. I've searched and read some articles about SSN and credit card, which was pretty confusing for certain points. I remember I pasted an article in one of the posts about not giving out the SSN when applying for credit card based on the Privacy Act.
I guess having SSN definitely makes things easier, but it's not the only thing.
What is an ITIN?
An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service. It is a nine-digit number that always begins with the number 9 and has a 7 or 8 in the fourth digit, example 9XX-7X-XXXX.
IRS issues ITINs to individuals who are required to have a U.S. taxpayer identification number but who do not have, and are not eligible to obtain a Social Security Number (SSN) from the Social Security Administration (SSA).
ITINs are issued regardless of immigration status because both resident and nonresident aliens may have U.S. tax return and payment responsibilities under the Internal Revenue Code.
Individuals must have a filing requirement and file a valid federal income tax return to receive an ITIN, unless they meet an exception.
What is an ITIN used for?
ITINs are for federal tax reporting only, and are not intended to serve any other purpose. An ITIN does not authorize work in the U.S. or provide eligibility for Social Security benefits or the Earned Income Tax Credit. ITINs are not valid identification outside the tax system.
IRS issues ITINs to help individuals comply with the U.S. tax laws, and to provide a means to efficiently process and account for tax returns and payments for those not eligible for Social Security Numbers.
[此贴子已经被作者于2006-10-3 17:21:31编辑过]
What is an ITIN?
An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service. It is a nine-digit number that always begins with the number 9 and has a 7 or 8 in the fourth digit, example 9XX-7X-XXXX.
IRS issues ITINs to individuals who are required to have a U.S. taxpayer identification number but who do not have, and are not eligible to obtain a Social Security Number (SSN) from the Social Security Administration (SSA).
ITINs are issued regardless of immigration status because both resident and nonresident aliens may have U.S. tax return and payment responsibilities under the Internal Revenue Code.
Individuals must have a filing requirement and file a valid federal income tax return to receive an ITIN, unless they meet an exception.
What is an ITIN used for?
ITINs are for federal tax reporting only, and are not intended to serve any other purpose. An ITIN does not authorize work in the U.S. or provide eligibility for Social Security benefits or the Earned Income Tax Credit. ITINs are not valid identification outside the tax system.
IRS issues ITINs to help individuals comply with the U.S. tax laws, and to provide a means to efficiently process and account for tax returns and payments for those not eligible for Social Security Numbers.
It is absolutely true. ITINs are NOT intended for identifying person by itself. It is just a way to search through the credit files. You can not identify a person by his name and birth date, but it will be helpful to know the name and date to avoid any mistakes. ITIN is NOT the reason for those people who do not have SSN to get credit cards, but it serves as a way for the credit bureau to confirm the identity. And once the credit bureau has the report, it will provide feedback to the credit card company's inquiry and CC company could make a decision.
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