It is common for people to fear checking their credit score because they fear that the score will be disappointing. In the same way, a phone score is not for the faint of heart. Many refer to it as your phone number’s credit score. But what exactly is it? Should we embrace this new technology as a means of safeguarding our reputation with businesses whose services we use?
This comprehensive guide looks at the definition of a phone score, what it entails, and its proper applications. Let us learn all there is to know about phone scores.
What are Phone Scores?
Generally, everyone has a distinct phone identity associated with their phone number. From these phone numbers, businesses can explore a plethora of information about the owner, including their current location, online activities, and residence. As a result, phone numbers are among the most effective and conclusive means for detecting internet fraud.
A phone score refers to a score based on a person’s reputation for any phone number in the world. It enables companies to confirm transactions instantly, avoid e-commerce fraud, and even disable fake accounts simply based on the phone number.
How do Phone Scores Work?
According to Forbes, Telesign is the company behind developing phone scores. Although the company’s applications are pretty famous, it often goes unnoticed by the public. For instance, if you have ever set up an online account using two-factor authentication, then you are familiar with the company’s domain. According to Telesign’s CEO, the company assists over 300 businesses within the United States by sending SMS to verify the identity of their consumers during various transactions.
Phone scores work by ranking phone numbers from 0 to 1000, with 0 representing the phone number you have used for a long time and utilized to sign up for a slew of legitimate accounts. Alternatively, 1000 represents a Hello Kitty burner phone used for criminal activities.
The phone score provides details like the owner’s identity, the type of phone attached to the number, and the services associated with the phone. It also details what businesses and software are associated with the number. In turn, these factors contribute to your final phone score.
According to the company, anything below 200 is a perfect score, meaning you will qualify for any service you apply for. Phone scores ranging from 400 to 600 may require a more thorough examination, while those over 600 are often marked as abusive or fraudulent accounts. As a result, those with a phone score of above 600 are likely to be blacklisted from using a specific company’s service. As a general rule of thumb, the longer you have used your phone number, the better the phone score rating.
Can Phone Score Help with Debt Collection?
As mentioned earlier, a phone score aids in determining all the information associated with a particular phone number. In turn, this data can come in handy during the debt recovery process. From these comprehensive analytics, debt collectors can determine the more collectible accounts to maximize recoveries. They can also get notifications when changes occur concerning the phone score, allowing them to reorganize resources to employ a more dynamic treatment and risk mitigation strategy.
However, collectors should remember that it is illegal to phone debt defaulters continuously or frequently to oppress, harass, or abuse them, according to the Fair Debt Collection Practices Act (FDCPA). The Debt Collection Rule states that collectors have presumably broken the law if they telephone call an individual:
- Over seven times in a seven-day window
- Within seven days after having a conversation via the telephone with an individual about a specific debt
As technology continues to advance, there are likely to be more companies that will rely on phone scores to determine the identity of their customers. Not only are they easy to verify, but they also ensure that there is no breach of privacy laws since they only use metadata surrounding phone numbers. For more information on how phone scores can help debt recovery, please contact us.