Credit Sesame Review – In Depth Review of Credit Sesame Comments27 Comments

credit-sesame-review

Hey everyone, Joshua Rodriguez here again for another review. Now, we’ve gotten into a couple of investment services and a credit card, now, it’s time to talk credit scores! Your credit score is a gauge of your financial stability and a key component to being approved for any form of loan. So, naturally, we want to keep track of our score. One website designed for credit monitoring that has really started to brand it’s name is Credit Sesame! So, here’s what I’ve got to say about this option…

Credit Sesame Short Review

Credit Sesame Pros – Credit Sesame is free. And, I mean 100% free, not a free trial, just plain old simple free! I’ll explain how that works in the long review. And, there’s more reasons to sign up than…Free! They provide a credit score update once per month, a way to see how much money you owe to who and great finance management tools. Oh yea, did I mention…it’s FREE!

Credit Sesame Cons – There are obvious cons as well. First off, the credit score provided is not the credit score that you’re looking for. There is a difference between the F.I.C.O. score and any score calculated by anyone else. Credit Sesame does their own calculations. But, it’s still a pretty good indication of where your credit stands. Other than that, I really don’t have anything to complain about. After all, I can’t seem to complain about a beneficial financial tool that is free for everyone.

The Bottom Line – Credit Sesame is becoming so popular as a credit score and credit monitoring provider because they are doing what should have been done a long time ago. They are making what is on your credit report and a gauge of your credit score available to you for free. With monthly monitoring tools, you can watch your report for security and growth! I try to be very level in these reviews and give you as many reasons why you shouldn’t sign up for something as I give for why you should. The truth is, I can’t do that in this review because I really appreciate companies that go to the lengths of creating algorithms and easy to use programs to give away for free and help consumers. I couldn’t imagine why you wouldn’t want to work with them.

Credit Sesame Long Review

OK, now let’s really get into the details of Credit Sesame here. I just can’t seem to ever fit enough into a short review. Anyway, let’s get started…

What Is Credit Sesame?

Credit Sesame is a free credit score and credit monitoring provider. Not the type of free that only lasts for a week or two but, free for life. Credit Sesame was created in 2010 as a free tool for consumers to monitor their credit reports. They provide various tools that allow you to track loans, payments, credit scores and more and, they never ask you for a credit card!

So, Why Is Credit Sesame Free?

Although, Credit Sesame is free for consumers, they do make plenty of money…trust me! I know you’ve heard the stories of the blogger that burned the midnight oil writing articles for a couple of years and became a millionaire because of it. That blogger became a millionaire because he or she placed ads into articles and other spots within their blog. Those ads paid every time you clicked on it, purchased a product or signed up for an offer. Eventually, that blogger had enough people clicking on ads that, he or she became rich.

That’s the same concept with Credit Sesame. They provide free credit scores and credit monitoring tools. While you are monitoring your credit, you are more likely to think of things like credit improvement, credit improvement credit cards, debt relief programs, etc… And, knowing what your scores are and what is causing them, Credit Sesame has a knack for showing the perfect ads to the perfect consumers. So, by helping you and referring you to great products, services and lending options, Credit Sesame has created a system that makes the service providers pay them to help you! Now, I really like how that works!

What Kind Of Tools Does Credit Sesame Provide?

Free Credit Score – Credit Sesame uses complex algorithms to give you a gauge of your overall credit worthiness in their own, very unique credit score. Although it is not a F.I.C.O. score, it’s still worth tracking. Also, your score is updated every month for monthly tracking of your progress.

Complete Debt & Loan Analysis – It’s always good to keep track of your loans. If you haven’t done so in a while, you may be surprised when you open your Credit Sesame account. Their debt and loan analysis tool can help you to prioritize your debts and get them paid off faster!

Personalized Savings Advice On Loans And Debts – Credit Sesame has tools that dig deep into your credit profile to give you tips that may help you save money by reducing payments on loans. You can even customize the alerts so that you get an email when it’s time to save!

What Hoops Do I Need To Jump Through To Sign Up?

None really, unless you have no appreciation for the protection of your personal information. When you get to the website, all you need to do is give them your social security number and answer a few security questions. Once you’ve answered the security questions, you will be taken to your dashboard which, is very user friendly.

My Overall Thoughts Of Credit Sesame

Credit Sesame is a great company that has come up with a great product. Even better, they’ve created a monetization platform that makes the lenders pay for your service through advertisement. Yes, they are going to show you enticing ads but, the ads are designed to fit your unique financial profile. The tools provided by Credit Sesame have helped tons of consumers to take control of their financial stability and can definitely help you too!

Credit Sesame Review

Rating: 4.4 / 5
Credit Sesame ratingCredit Sesame ratingCredit Sesame ratingCredit Sesame rating

Credit Sesame Reviewed by Modest Money on .

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By : Josh Rodriguez | 19 Jul 2013
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27 thoughts on “Credit Sesame Review – In Depth Review of Credit Sesame

  1. Grayson @ Debt Roundup

    Good review Joshua. I have one coming up on my blog soon. I love the service. I think it is a great way to see where you stand. Though the “score” is not the FICO score, it is not too far off. I have compared the two. As you stated, at least it shows you where you are currently living with regards to your credit.

    Reply
    1. Jeremy

      I’d personally be dine with just a close estimate since it wouldn’t count as a hard credit pull. It’s rare that you need to actually know your exact score.

      Reply
  2. Martin

    Credit Sesame also has a “What If” calculator you can use to see how your financial situation could change if you made more money, had a higher credit score or if your home was worth more money. Credit Sesame also gives you an estimated value for your home from eppraisal.com and recommends better deals on a home loan, if you qualify for one.

    Reply
    1. Jeremy

      That sounds like a solid tool. Makes it a little easier to plan your financial future. If it worked with Canadian residents, I’d definitely be checking that out.

      Reply
  3. Sam @ frugaling.org

    I tend to use Credit Karma, but both services are great! Highly recommend joining one of these services to keep a close eye on your credit. Being proactive is an important step to preventing identity theft.

    Reply
    1. Jeremy

      Good point about identity theft. By watching your credit score closely, you can really prevent damage done by identity theft. If it’s left too long then you can be in real trouble.

      Reply
  4. Kevin @ Credit Bureau Insider

    The Credit Karma website states that they provide the TransUnion TransRisk Account Score, Vantage Score, and Auto Insurance score.

    While FICO is the most widely used score, there is no secrete sauce. All models work with the same data, and use similar software to develop models. Human behavior stays the same.

    The model scores and suggested improvements can be very useful.

    Reply
    1. Jeremy

      Yes these estimates do tend to use the same kind of data but with slightly different calculations. So it should be an accurate enough estimate of your actual credit score. Putting you in the right direction to improve upon that score is the really important part.

      Reply
  5. Christine @ ThePursuitofGreen

    I use Credit Karma to check my score. Which reminds me I need to check it! It’s pretty awesome to actually see my score and how it all breaks down. Gives me a much better understanding of what goes into a credit score. Seems like its Credit Sesame or Credit Karma! I wonder which is better? Both are free to use.

    Reply
    1. Jeremy

      Perhaps I will review Credit Karma before long for a comparison. I’d think both are pretty solid but with slightly different tools. As long as you’re checking your credit score somewhere, you should be good. It might as well be a free site.

      Reply
  6. Alexandra @ Real Simple Finances

    Great review. Does Credit Sesame also offer suggestions for boosting your credit score?

    I have used myfico.com successfully in the past, but I did have to sign up for a plan and then cancel within 10 days. I like the idea of not needing to worry about being charged for the service if I forget to cancel.

    Reply
    1. Jeremy

      I’m not positive, but I don’t think that’s built into their credit score checking tool. They do offer that kind of info throughout their site though. You’d have to try it to confirm.

      Reply
  7. hannah

    I’ve used Credit sesame for a while now and the score they show is pretty close to the actual one I’ve obtained.
    It also showed how much my spouse’s credit took a nose-dive when we closed out a bunch of cards. No, we didn’t close his oldest account! Just a bunch of accounts we shouldn’t have obtained in the first place, like 0% for a computer, furniture – and yes we paid it off before the 0% ran out!
    Anyway, closing the accounts definitely affected the score and it’s nice to keep an eye on it and hopefully see it improve quickly once we get these large medical bills paid off ( which have our credit card usage up, but 0%).

    Reply
  8. darlene bohannon

    I PERSONALLY USE CREDIT SESAME AND THEY ARE GREAT. ANYTIME I NEED TO CHECK MY CREDIT. IT IS EASY TO USE. ID RECOMMEND TO EVERYONE.

    Reply
  9. Veronica Lee

    I like the fact that the site is free to use and that it allows you to check your credit score on a regular basis. With identify theft on the rise, it’s good to have an identity theft shield.

    Reply
  10. William Charles

    Just FYI, they now also offer free identity theft insurance (up to $50,000) I don’t value it that highly, but it’s better than some of the other freebies credit monitoring companies are offering.

    Reply

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