I believe on burner phones, the IMEI can be use to exactly identify the service/account information.
...which is a dead end if you use fake info.
Yes, but it's still there, and would be perfect piece of the puzzle for prying eyes. Hiding it would be a big security advantage.
In addition, a credit/debit card's track info could also be encrypted as well. It could then be stored on an encrypted laptop. This would mean that a person could have a laptop, the shell phone, a MSR reader/writer, and a blank mag stripe card, and all of the data for everything could be encrypted on the laptop. No prying eyes could find it unless they broke the encryption.