In this article, I’m going to review Credit Sesame’s free credit score service and give you a detailed Credit Sesame review to see if it’s worth signing up or not.
Sesame credit is a website that publishes educational content on credit and personal finance. In addition, they provide consumers with free credit monitoring and a free credit score that is updated monthly. They also offer advanced services at a price that we will get into later.
As of April 2016, Sesame credit has over 8 million registered accounts with over $ 100 billion in credit that are monitored and analyzed for potential daily savings by this company.
To learn more about Sesame credit, read this review. We are sure it will help you decide if this is the right company for you.
Credit Sesame Rating
How to log in
To register with Sesame credit, you need to enter your social security number and answer some questions about your finances. This is necessary to verify your identity. So get ready to provide some specific information such as: B. the date on which you opened your bank account or something similar.
When you create an account, you get access to your financial history as well as your current situation.
Credit Sesame Free Service – What’s Included?
Free credit report card
You will receive a credit score report every month to help you track your progress and stay on top of any update. The personalized credit card feature is what you will really love about this free version. It analyzes your report in all five rating categories that contribute to your score (payment history, credit age, credit utilization, credit request and account mix).
Credit monitoring is another feature included in the free service. TransUnion pulls your financial information every month to give you an idea of what is affecting your creditworthiness.
When your credit report is pulled up by TransUnion, you’ll see your current debts, but also get personal loan recommendations (car and student loans) that can help you get out of debt, refinance, or get a new loan.
Home Value Estimates
Home appraisals are a tracking tool that keeps you informed of the current appraised value of your home. It also shows you how much equity you have acquired with your current mortgage.
If you need help setting financial goals, this is your option too. Enter the information you want (e.g. take out a personal loan) and you will receive notifications of relevant and the most attractive offers.
Identity theft protection
Finally, a $ 50,000 identity theft insurance package and professional ID recovery assistance are an integral part of Credit Sesame’s free services, which are much better than what most other companies offer.
Paid Sesame Credit Service – Should You Upgrade?
If all of the above benefits aren’t enough, you have three upgrade options. They can be prepaid monthly or for a full year. If you pay in advance, you will receive a discount.
Extended credit plan
The Advanced Credit Plan costs $ 9.95 per month if you pay month-to-month, or $ 7.95 per month ($ 95.40) if you pay in advance. Aside from all of the free services, you also get daily credit updates from a credit bureau and monthly credit updates and reviews from all three credit bureaus.
Pro credit plan
The next level of paid subscription is the Pro Credit Plan. For $ 15.95 per month or $ 12.95 per month billed annually ($ 155.40 total), you get everything you would get in the previous plan plus credit monitoring with notifications from all three offices. You also get access to 24/7 support from the experts who are very helpful when you need to troubleshoot inaccuracies in your credit report. Credit Sesame is promoting this plan as the best option with the best value for money.
Platinum protection plan
The third and most expensive option is the Platinum Protection Plan and costs $ 19.95 per month or $ 191.40 if prepaid ($ 15.95 per month). In addition to all of the above services, you will receive identity theft protection and surveillance services.
What Credit Rating Does Credit Sesame Use?
You may be surprised to see your credit score on your Credit Sesame account. This is because the standard FICO score is not used. Instead, the Experian National Equivalency Score is used, which is based on a different algorithm.
Additionally, the scoring range is slightly different from what FICO uses. Instead of FICO’s 300-850 range, this model goes from 360 to 840.
Hence, the number you see on your account will not exactly match what the lenders require. So if you are thinking of taking out a loan, consider paying a one-time FICO score fee. Otherwise, this model is great for getting a glimpse of your overall financial situation.
Sesame app credit
If you’re an avid mobile user, you’ll love the fact that you have the Sesame app credit. It is available for Android and iOS operating systems.
The app gives you an Experian credit score and monthly score updates for free, without using your credit card.
Basically, it offers all of the aforementioned options on your mobile device. In addition to credit history and updates, you can also see how much money you owe, your monthly payments, home appraisal, credit utilization status, and other financial stats.
Monthly updates, trend graphs, money-saving advice and automatic notifications – all these functions are available in one app. Your web and mobile accounts are always in sync as they are automatically imported and updated from Experian data.
A four-digit PIN ensures that your account and personal information are protected and secure. You can also easily turn off mobile access from your profile page on a computer in case something happens to your mobile device.
Credit Sesame Review vs. Credit Karma, LifeLock, WalletHub
These four credit monitoring services are some of the best you will find. Still, they differ in some of the features they offer their customers.
Credit Karma offers free weekly credit monitoring. It pulls data from two offices: Equifax and TransUnion.
LifeLock goes one step further and collects your report from all three offices. However, LifeLock charges its credit monitoring service.
WalletHub provides free daily credit monitoring and pulls your report from TransUnion.
Finally, Credit Sesame offers free monthly credit monitoring from TransUnion. But what sets Credit Sesame apart is the fact that it gives you the ability to view your total debt, which is a step ahead of other companies.
With all of these different services and companies, choosing the right one can be difficult. The best thing to do is to determine what type of service you really need and compare all four companies and more that you can find online.
When you need a number of great free services including an insight into your debt, choose Sesame credit.
Credit Sesame Awards and Recognition
Sesame credit has been recognized by the Today Show, Wall Street Journal, and The New York Times which is pretty impressive if you ask us.
It has also been reviewed by a number of personal finance websites like Tom’s Guide, WalletHub, SmartAsset, Top Ten Reviews, ConsumersAdvocate.org, and ElitePersonalFinance and made their list of the best credit monitoring services.
Reviews like these can be very useful when you want to learn more about and compare credit monitoring services.
Finally, Credit Sesame was named “Financial Publisher of the Year” in 2016 by Commission Junction University as one of the three best companies.
Is Credit Sesame Legitimate?
It is. Sesame credit offers amazing features that can be useful for anyone who wants to keep an eye on their financial situation. If you want more features, you can upgrade to one of the three subscription levels offered at any time.
You can also check your account on the go by downloading the Credit Sesame mobile app.
It is important to note, however, that Credit Sesame does not use the FICO score to assess your creditworthiness. They have their own range of scores that are not used by lenders and are not considered a standard.
Finally, we would like to emphasize that no identity theft protection service can completely prevent identity theft. Rather, this service is used to alert people that suspicious activity has been found on their account.
Sign up now to receive your free creditworthiness and savings advice at Sesame credit.
For you: Do you have any questions about this Credit Sesame test or what is your experience with the Credit Sesame?