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Credit Sesame Review
If you’re like me, getting started might feel overwhelming. Fortunately, Credit Sesame is a great tool and resource that makes things easier. That’s why we’ve decided to write up this full Credit Sesame review.
From budgeting to credit monitoring, there’s something for every financial need. Credit monitoring services are particularly popular because of the benefits they offer.
Credit is such a crucial factor in several parts of your life. Some examples include renting an apartment, buying a house, getting approved for a car loan, and more. That makes it crucial to monitor and understand your credit score.
Even if you’re new to this, it’s pretty simple with the right help. This Credit Sesame review will help you decide if it’s a good fit for you.
What Is Credit Sesame?
In 2010, founder Adrian Nazari launched Credit Sesame, a website for credit and personal finance services. Their website states that “Our mission is to empower people to take charge of their credit and loans and achieve their financial goals.”
The site has many free features, and there’s no fee for joining. Some examples of these features include free credit scores and free credit monitoring. The service is now accessible through Google Play and Apple’s App Store.
As of 2016, over eight million users were registered with Credit Sesame.
Credit Sesame Features
On Credit Sesame’s How It Works page, you can view highlights about their main features. I’ve provided some in-depth detail about these features and others below. Each one is completely free to use when you sign up for a Credit Sesame Account.
Free Credit Scores
Once per month, you will receive an updated credit score. It will show you how your financial decisions – credit card spending, etc. – impact your score.
In my experience, this type of information helped me raise my credit score. In a separate section below, I’ll go into detail about the credit scores that Credit Sesame uses.
Free Credit Monitoring and Alerts
When you view your credit score, you’ll see if it’s raised or lowered each month. If your credit score changes, Credit Sesame will send you daily alerts if and when your credit score changes. Again, this sort of feature has been very useful for my own personal finances.
Identity Theft Protection
Every free Credit Sesame account comes with an identity theft protection package. You get $50,000 in identity theft insurance along with free fraud resolution service.
This means you’ll get professional guidance if your identity is ever stolen or compromised. You can read more about this unique feature here.
Credit Report Analyzation
Your credit report is broken down into different categories. These categories include credit card utilization, credit age, credit inquiries, and more. Credit Sesame will analyze each of these factors to show you how they impact your credit.
For example, low credit card utilization may help raise your score. Several hard credit inquiries may lower your score.
Loan and Debt Analyzation
Credit Sesame uses the information from your credit report to assist you with loan and debt repayment. You’ll have assistance with understanding how you can best repay debt.
Additionally, you may receive personalized loan offers and debt offers based on your needs and information. This can help you find loans with lower interest rates.
Money Related Tools
There are a few different tools you can use on Credit Sesame to help your overall personal finances. For example, you can get help with setting financial goals.
This is useful when you’re paying off loans or simply trying to improve finances in general. And if you own a home, you’ll get free home value estimates and information about equity you’ve earned.
For more information, visit the How It Works link above. Scroll to the bottom, and click “Learn More” under each feature.
Paid Credit Sesame Options
In addition to their free service, Credit Sesame offers paid memberships. There are three paid options – Advanced Credit, Pro Credit, and Platinum Protection. Below you’ll find details about each paid option.
The Advanced Credit plan is available for $9.95 per month. You get the free services above, and you will also receive:
- Daily credit score updates from one credit bureau
- Monthly credit score updates from three credit bureaus (see the section About Credit Sesame Credit Scores below for more information)
- Full monthly credit reports from three credit bureaus
The Pro Credit plan is available for $15.95 per month. Credit Sesame lists this plan as the best value among paid plans. You get all of the free benefits, all of the Advanced Credit benefits, and:
- Credit monitoring with alerts from three credit bureaus
- 24/7 customer support from professionals to handle any credit report inaccuracies
The Platinum Protection plan is available for $19.95 per month. You get all of the benefits from the free plan, Advanced Plan, and Pro Plan. Additionally, you get:
- 24/7 customer support and protection in the event your wallet is lost or stolen
- Black market website monitoring (monitoring of millions of websites for any suspicious activity related to your credit and data)
- Public record monitoring (monitoring of court records, changes of address, and more to ensure no one else is using your identity)
- Social security number monitoring (a map of every alias, name, and address that is associated with your social security number)
From reviews and feedback, I see that most customers begin with the free plan. If you’re interested in Credit Sesame, you may want to start with their free services. If you find that you want more, you can always register for one of the three paid options above.
How To Sign Up For Credit Sesame
You can sign up for Credit Sesame here. According to this page, the signup process only takes 90 seconds. Once you provide your e-mail address and create a password, click “Get Started”.
In order for Credit Sesame to provide your free credit score, you’ll need to provide your social security number. Your SSN is used to get your information from the credit bureau that Credit Sesame partners with.
During the signup process, you’ll also need to provide your full address and answer a few security questions. For example, you may see a multiple choice question that says “Which of these streets have you lived on?” or something similar.
This information needs to match the information that credit bureaus have on file for you.
About Credit Sesame Credit Scores
This is different than FICO credit scores, which lending companies tend to use. To understand how this works, read Credit Sesame Addresses the Confusion: What Credit Score We Use. This helpful blog post tells you everything that you need to know about the scores they use.
If you want your credit report from all three bureaus, it is possible to get it. Once per year, each bureau will provide you your credit report. You can access them by visiting AnnualCreditReport.com. You can typically view your reports online and download them.
Is Credit Sesame Safe?
This is one question that I came across frequently during my research. Naturally, people want to know if their social security number and private information is safe. I quickly discovered that Credit Sesame is deemed safe for many reasons.
Below are some highlights from the Credit Sesame Safety and Security page:
- Credit Sesame’s website is certified safe by McAfee Secure.
- Credit Sesame’s privacy practices are approved by TRUSTe Certified Privacy.
- Credit Sesame’s security practices are deemed acceptable by VeriSign Secured.
- The company uses encrypted data storage and transfer. Your information is protected by 128-bit SSL encryption and 256-bit AES encryption. This is the type of encryption used by reputable banks.
- Credit Sesame uses secure servers that are monitored on a 24/7 basis.
This covers your bases, but you may still have questions or concerns. Visit the Credit Sesame FAQ page. Questions related to accounts and security are under the Troubleshooting and General Questions headers.
You can also e-mail email@example.com if you don’t find the answers you’re looking for.
Credit Sesame Reviews And Ratings
As you can imagine, there are tons of Credit Sesame reviews across the web. Taking a look at all of the good and bad feedback is crucial. That’s why I’ve used several resources to compile the information below.
See what others think about Credit Sesame and their services:
- Credit Sesame has an average user rating of 8.5 out of 10. This is based on 1,480 Trustpilot reviews.
- 66% of reviewers gave an Excellent rating.
- 19% of reviewers gave a Great rating.
- 6% of reviewers gave an Average rating.
- 3% of reviewers gave a Poor rating.
- 5% of reviewers gave a Bad rating.
- Many positive reviews describe Credit Sesame as resourceful, helpful, and insightful.
- Users who took advantage of Credit Sesame’s credit card offers seem satisfied. They state that the offers were legitimate, and some people mention significant monetary savings.
- Satisfied reviewers state that Credit Sesame is a good tool if you’re looking to improve your credit or get a new credit card.
- The site is also described as fast and easy to use. Several reviewers also note that the information is easy to understand.
- Some neutral reviews say that Credit Sesame is somewhat informative but it didn’t help them much overall.
- One reviewer noted that he was not satisfied with the credit card offer he pursued. He said that Credit Sesame recommended the card, and then the lending institution denied him.
- A small number of negative reviews mention excessive e-mails from Credit Sesame. However, Credit Sesame replied to one review and noted that you can turn off e-mail alerts from them.
- The overall satisfaction rating is slightly over 4.0 stars out of five stars. This is based on 12 reviews.
- Eight reviews give a 5-star rating.
- Two reviews give a 4-star rating.
- One review gives a 3-star rating.
- Zero reviews give a 2-star rating.
- One review gives a 1-star rating.
- One five-star reviewer says she has no issues with Credit Sesame. She goes on to say that their credit and debt information is accurate. She also enjoys being able to check her credit score at her convenience.
- Another five-star reviewer explains how Credit Sesame has helped him fix his credit. He came across the site while researching ways to improve credit. While using Credit Sesame, his score improved from ‘failing’ to ‘passing’.
- Additional positive reviews say the site is easy to understand, accurate, and informative. They also say that the site is easy to sign up for and like that it doesn’t require a credit card.
- One three-star reviewer says she has issues with Credit Sesame’s customer service. She noticed that her score decreased after taking out a loan and said that Credit Sesame did not respond to her e-mails. On Consumer Affairs, the company replied to resolve the situation.
- A one-star review expressed frustration with trying to delete an account. The reviewer said she had difficulty getting ahold of Credit Sesame customer service.
- The Credit Sesame app/service has a 4.3-star rating based on over 20,088 reviews.
- 12,959 reviews give 5-star ratings. This equals 64.5% of the reviews.
- 3,909 reviews give 4-star ratings. This equals 19.46% of the reviews.
- 934 reviews give 3-star ratings. This equals 4.65% of the reviews.
- 424 reviews give 2-star ratings. This equals 2.12% of the reviews.
- 1,862 reviews give 1-star ratings. This equals 9.27% of the reviews.
- One five-star review explains that the app explains her credit rating very well. Credit Sesame also shows her ways to improve her credit, which she finds useful.
- Another five-star review states that the credit alerts are completely accurate. This user praises both the website and the app.
- One four-star review says the app is solid overall. However, the user dislikes that you have to sign in each time you use the app.
- A three-star review says that you cannot see your actual credit reports. This may refer to full reports from the three credit bureaus.
- Two one-star ratings mention difficulties using the app itself. One reviewer received an error when inputting her social security number. Another was unable to go past entering her birthday.
From a purely statistical standpoint, Credit Sesame is well liked by those who use it. The overwhelming majority of feedback is very positive. However, the negative reviews and points should not be ignored.
Consider both views to weigh the pros and cons. And again, make sure to contact Credit Sesame if you have specific questions or concerns.
Conclusion: Is Credit Sesame A Scam Or Legit?
From the information I’ve gathered, it’s clear that Credit Sesame is a 100% legitimate service. With numerous safety features in place, you can feel confident that your data is secure.
Not being asked for your credit card information may also be reassuring for many potential users. Most importantly, Credit Sesame offers truly beneficial tools for managing your credit and debt. If you’re interested, sign-up in minutes or less.
Frugal For Less has several unique posts about credit and personal finance. I found that 17 Ways to Make or Save Money With Credit Cards and Your Guide To Credit Card Arbitrage were very informative. Read these posts and others to make the most of your credit card usage.