Story perspectives

Credit Card Issuers Bypass SSNs, Heightening Fraud Risk

4/20/2026

Summary

Story summary

Credit card issuers approve applications without a Social Security number, using Individual Taxpayer Identification Numbers (ITINs) or passports.
This shift complicates identity verification and enables scammers to create fraudulent profiles.
The Federal Trade Commission reports over 1 million identity theft cases annually, many involving new accounts opened with stolen information.
Consumers often discover fraud only when checking credit reports, which can take weeks to update.

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Story summary

Credit card issuers approve applications without a Social Security number, using Individual Taxpayer Identification Numbers (ITINs) or passports.
This shift complicates identity verification and enables scammers to create fraudulent profiles.
The Federal Trade Commission reports over 1 million identity theft cases annually, many involving new accounts opened with stolen information.
Consumers often discover fraud only when checking credit reports, which can take weeks to update.