Credit Sesame

by Mel
Mar 6, 2021 | 0 Votes | 68 Used | 0 Reviews Your vote
Credit Sesame - rate Credit Sesame is a personal finance service that gives its members free access to credit score monitoring, credit reports, and identity protection tools. It also provides expanded credit monitoring for an additional subscription fee, plus personalized recommendations regarding loans and refinancing opportunities. Apply Now Similar Sites Used Post a Review

People Also Applied For

TransUnion Credit Karma Credible Lendio Prism RefiMatch Simple
Summary What You Get Terms Trustworthiness Conclusion

Summary


Credit Sesame is a personal finance service that gives its members free access to credit score monitoring, credit reports, and identity protection tools. It also provides expanded credit monitoring for an additional subscription fee, plus personalized recommendations regarding personal loans, home loans, student loans, credit cards, and refinancing opportunities that can help members improve their credit and spending power.

What You Get


Anyone who has started adulting knows by now that a good credit score is the “open sesame” that grants you easier access to a wide range of financial services and benefits, such as lower credit card rates and qualification for personal, home, car, and other types of loans.

However, you will need to find out your credit score first in order to determine which credit card and loans you can qualify for, and while there are several free and paid services to know your credit rating and borrowing options; you’ll have to refer to several sites and/or sources to get a total overview of your financial standing.

Fortunately, Credit Sesame is one personal financial service website/app that offers a comprehensive solution: a complete picture of your credit and loan options in just one convenient place covering everything from credit score & monitoring, identity theft protection, financial advice, savings recommendations, and more ALL FOR FREE.

That’s because when you sign-up for a free Credit Sesame account you get the benefits of bank-level analytics developed together with fin-tech scientists from UC Berkeley and Stanford University.

Founded in 2010, Credit Sesame takes a holistic approach to helping users boost their credit scores. It checks your credit score monthly, lays out all the details about your debt, and helps you understand why your credit score is what it is. Best of all, its Personal Credit Management (PCM) personal finance service helps you learn how you can increase your score. In return for the free services, Credit Sesame earns a commission from its credit cards and loan partners when a member acts on the recommendations made for them on the platform.

Their unique business model combining affiliate revenue, premium paid services, as well as third party targeted advertising is so successful that, as of October 2018, Credit Sesame has managed over $2 billion in loans originating from its site.

To start finding out how Credit Sesame can improve your financial standing, visit CreditSesame.com or download their Credit Sesame Mobile App for iOS and Android. By simply registering your email address with the site, you can instantly receive and updated FREE credit score check (after you provide some basic details about yourself, like your name, address, and last four digits of your Social Security Number).

From there, Credit Sesame creates a free account for you as well as your own personal Dashboard from where you can read an extensive summary of your financial history and status compiled from actions initiated by Credit Sesame based on your available information. Reports include:

Free Credit Score.Using their patent pending analyses, Credit Sesame takes a look at your credit history and debt situation to advise you on how much you can save on loans, credit card debt, and your home mortgage by pulling in your credit information every month from TransUnion’s VantageScore, including your credit score and debts – always for FREE. No credit card, no trials, and no commitments required.

Free Credit Report Card Dashboard is where you’ll find all of your financial data compiled by Credit Sesame’s software. The first thing you see is your Credit Score at the top of the screen and to the right of it is a graph showing your credit score as it changed over previous months. You can then toggle through three additional reports, such as for Credit Analysis which grades you (A, B, or C) on each of the factors that go into formulating your credit score, such as: Payment History (30% - 35% impact on score; includes tally of any late payments, collections, foreclosures, or bankruptcies that appear on your credit report); Credit Utilization (30%; displays your total debt, total monthly payments, and debt-to-income ratio as well as charts your monthly debt balances); Credit Age (15%; longer credit history and account existence indicates that you’re an experienced borrower worth lending money to); Account Mix (10%; which analyzes whether you effectively manage a good variety of account types such as revolving and installment credit, a loan, or an open account like a utility bill); and Credit Inquiries (10%; where too many “hard” checks of your credit can affect your score and give the impression that you’re a credit risk).

Free Credit Monitoring helps you determine what affects your credit and how to improve it. Credit Sesame’s advanced analytical software understands your credit and debt to give your customized recommendations on which credit cards or loans to choose so your finances are managed positively. Every month, you can easily track your credit score, as well as see a breakdown of your various credit accounts. They provide a detailed snapshot of your debt, your loan payments, your interest rates and your credit utilization. Furthermore, you can:

Receive Credit Monitoring & Alerts. Stay on top of your credit report and score to maintain your financial health. Credit Sesame offers real-time alerts so you’ll know right away when an important change has been made to your TransUnion credit report.

Protect Your Finances. Identity theft can negatively impact your credit score and possibly prevent you from getting a credit card, mortgage, car loan or other line of credit. Free credit monitoring allows you to keep a closer eye on your credit, to look for and head off potentially fraudulent activity.

Easily Detect Errors. An error on your credit report could cause your credit score to lose valuable points, resulting in higher interest rates or a denial for credit. Checking your report on a regular basis via Credit Sesame’s free credit monitoring services improves your ability to pinpoint errors so you can take steps to address them.

Personalized, Tech-driven Recommendations. With the aid of their new Robo Credit technology, Credit Sesame delivers customized credit card, loan, insurance, refinancing and other financial recommendations that help you save and make the most of your assets.

Free Credit Security Monitoring and ID Protection service regularly checks for suspicious activity in your credit reports and alerts you of them in time. Credit Sesame’s monitoring protocols allow you to address inconsistencies and anomalies quickly and mitigate the damage caused by fraud or errors. Platinum Protection membership, meanwhile, also monitors your Social Security number, public records and the use of your personal information on black market websites.

Moreover, Credit Sesame also automatically gives you $1 million identity theft insurance, plus live access to talk to identity restoration specialists — for FREE.

Sesame Potential not only explains why your credit score is what it is, it tells you specifically what actions you might take to increase your score, especially if it is fairly low. Next to your credit score is another circle with a higher number on it. If you follow the action plan the Credit Sesame lays out, you should be able to climb up to that second number. Credit Sesame can do this because it runs infinite simulations in the background in an attempt to identify the actions that would be realistic given your credit history and that would help your score tick upward.

Sesame Cash, finally, is the company’s newest banking service in partnership with Community Federal Savings Bank, Member FDIC. Requiring no fees and no minimum balance, you can transfer funds from an existing bank account into Sesame Cash. The account comes with a Mastercard co-branded Debit Card and supports Apple Pay, Google Pay, Samsung Pay, and ACH transfers.

Beyond basic banking capabilities, Sesame Cash also comes with $1 Million Credit and ID Theft Protection and Restoration. In addition, you can get your credit score daily and earn up to $100 when your credit score goes up (limited time only). Further capabilities are scheduled to launch in the near future.

Terms


Rest assured, when Credit Sesame accesses your credit information on your behalf it is only a "soft" inquiry into your credit which neither affects nor hurts your score like a hard inquiry from a lender might.

And while Credit Sesame’s free service only provides TransUnion’s VantageScore (which is not commonly used by banks for credit card applications) and does not reflect your actual FICO score, if you subscribe to one of Credit Sesame’s Premium Subscription plans, you will be able to access more comprehensive tools and services to evaluate your credit. These plans include: Advanced Credit for $9.95/month which adds daily credit scores from one bureau (TransUnion), monthly credit score updates, and a monthly credit report from not only TransUnion but also Experian and Equifax; Pro Credit for $15.95/month adds credit monitoring with alerts from all three bureaus and generous access to live experts; and Platinum Protection for $19.95/month is their ramped up security package offering 24/7 stolen/lost wallet protection, black market website monitoring, public records monitoring, and Social Security Number monitoring.

As for security, Credit Sesame does not sell your information to third parties for marketing purposes. Furthermore, their servers are located in a secure facility with 24-hour monitoring and surveillance and feature advanced encryption on your information using firewalls,128-bit SSL encryption, and 256-bit AES encryption—the industry standard mechanism of encryption used by banks and the government. Their security practices are also approved by Verisign with TRUSTe validation of their website privacy practices, and intensive weekly security scans certified by McAfee SECURE.

Trustworthiness


Credit Sesame reviews are generally positive, garnering an extremely positive BBB rating of A+ which is a testament to their superior quality service. Credit Sesame‘s Score Repair services also rate highly with their good credit score tracking services being the main reason for the many positive Credit Sesame reviews in 2021.

On the other hand, there have also been some negative customer reviews due to complaints about the unavailability of phone or chat customer help lines, only mail and online form, which usually results in a delay of action in many cases. Also according to reviews, there have been several cases of customers’ compromised banking credentials being used to subscribe to Credit Sesame’s services, but those cases are not necessarily the fault of the company but rather breaches happening at the bank institution level.

Conclusion


Given the current state of economy in the midst of an ongoing pandemic, the more resources you use to track your personal finances, the better and Credit Sesame is not only a FREE resource that you can use, but on top of it not affecting your credit score whatsoever, it won’t require you to input a credit card for its free membership option. Try out Credit Sesame now and let its various services help you understand, monitor, leverage, and protect your credit better than any other financial service out there.

Credit Sesame Blog

New Site Added: Credit Sesame

by Mel Mar 6, 2021
Credit Sesame is a personal finance service that gives its members free access to credit score monitoring, credit reports, and identity protection tools. It also provides expanded credit monitoring for an additional subscription fee, plus personalized recommendations regarding loans and refinancing opportunities. Credit Sesame Read More
Be the First to Post a Review!

Featured Sites

Visor Visor Visor is a tax-filing service company that can help you to optimize your taxes so you can maximize every possible deduction while saving some time and money. Aside from offering transparent pricing, it also provides year-round, one-on-one financial advising – simply schedule a session with your advisor. Turbo Tax Turbo Tax TurboTax is among the most popular tax-filing software company in the US. Aside from providing accurate and easy-to-use programs for you to file your taxes with, the company even offers tons of guarantees, free consultations, live tax advice, a referral system and more. TaxSlayer TaxSlayer TaxSlayer is a tax-filing software that, according to its many customers, is the highest rated for best value. It offers a myriad of tax products, each of which are designed to fit a varying range of customers, from active-duty military personnel to freelancers. You can even file both your federal and state taxes for completely free if you qualify for a 1040EZ form. Even Financial Even Financial Even is a loan-matching service that offers personalized, fast-funding loan offers in 3 easy steps which can be completed within 10 minutes at most. The rates you get are reasonable, depending on your credit score, and they are very transparent about the terms of each of the loans they offer you. FreeTaxUSA FreeTaxUSA FreeTaxUSA is the only tax-filing service that lets you file your federal taxes for completely free regardless of which form you need to fill. Aside from promising accurate calculations and maximum and quick refunds, they are an IRS-approved e-file provider, allowing you to directly submit your tax return to the IRS for free as well. Fresh Tax Help Fresh Tax Help Fresh-Tax-Help.com is a service that helps to match you with enrolled agents, certified public accountants (CPAs) and tax attorneys who are proficient at helping you solve the current tax dilemma that you’re facing.

Statistics

Sites53 Articles38 Surveys3 Blog Posts96 Users17 User Reviews0

Find us on Facebook