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There are several reasons why you may need to learn about Credit Sesame, and you may want to read this review first. It will help you decide if Credit Sesame is the right fit for you.
What is Credit Sesame?
Credit Sesame is an online credit repair service that helps people with bad credit get better credit scores through their proprietary scoring model and an easy-to-use website interface. It allows users to quickly access their reports online as well as discuss ways to improve their scores with Credit Sesame representatives. It also allows users to manage all of their account information in one place so they can quickly see where they stand in relation to other users.
Credit Sesame provides four different subscription levels: Free Membership, Advanced Credit, Pro Credit, and Platinum Protection. Free membership lays out all the details about your debt, and helps you comprehend your credit score. It also assists you on how you increase it. Not to forget the debt tracking and basic credit tools, plus credit monitoring and alerts from one credit bureau.
Advanced Credit offers credit monitoring with daily credit scores from one major bureau and a credit report each month from three major credit bureaus. For $15.95 per month, Pro Credit offers credit monitoring from all three major credit bureaus and 24/7 access to credit experts who can help people understand their credit scores and help them improve. Platinum Protection, which is $19.95 per month, can secure your money with stolen or lost wallet protection 24/7, monitoring the black market, monitoring public records, and monitoring of your Social Security Number.
Credit Sesame Features Explained
Free Credit Score: Credit Sesame will access your credit history using TransUnion and show you what your credit scores are. You'll get good advice on how you can improve your credit score.
Free Credit Monitoring: Credit monitoring services alert you when things change that affect your credit report. These services can help you find errors in your credit report or help you maintain good credit.
Free Identity Theft Protection: Identity theft protection includes free protection that will protect you for a maximum of $50,000 if someone steals your identity. Credit Sesame supports you in restoring your credit.
Savings Recommendation: Credit Sesame helps you save money and spend smartly by recommending credit cards that are suited to you and your needs.
Sesame Cash: Credit Sesame is also a digital bank that offers a checking account that rewards you for improving your credit scores. There are no monthly fees, no minimum balance requirements, no foreign transaction fees, and you can use any ATM that you choose worldwide. Credit Sesame is FDIC insured through Community Federal Savings Bank, which means your money is safe when you bank with them.
Centralized Finance Management: If you pull your credit report every month and link it to your debts, you will have everything you need at your fingertips to help you budget and save money.
Cash Back Offers: Sesame Cash debit Mastercards let you get cashback when you shop online or at participating retailers — helping you to save money while you shop. You can use your debit card anywhere you go by simply using a mobile app that supports Apple Pay, Google Pay, or Samsung Pay.
Mobile Protection: It's not clear why some credit monitoring services offer a mobile device protection plan, but that's certainly a good thing. You are covered for theft and certain types of damage up to $500 per year.
How to Create an Account in Credit Sesame?
You don't need to give any of your personal information to credit sesame in order to open a free account, but you will need an email address and your social security number. It will also ask you a few questions about your finances to verify that you are who you say you are. Some examples include entering the amount you pay each month on a particular loan or a specific bank account. Once your identity is verified, you'll be able to use all of the features available for free on Credit Sesame.
Benefits of Credit Sesame
Credit Sesame offers a number of useful tips based on the information it gets from your credit report. These include advice on improving your credit score. These suggestions don't include any advanced strategies, but they can give people some direction if they don't understand all the factors that contribute to a person's credit rating.
In other words, you can choose from a personalized list of credit products based on your credit score and report. Credit Sesame will recommend loans, credit cards and other financial products based on what it thinks your credit score and report say is good.
It is also free! It doesn't cost you anything. You'll receive credit monitoring alerts and your credit score is automatically updated every month from TransUnion for free. There is no catch; you do not have to enter your credit card information to use this service.
Additionally, getting $50,000 in identity theft insurance is very nice. It covers all expenses and legal costs if someone steals your identity.
Credit Sesame Drawbacks
Just like with any non-FICO score, the score that you get from Credit Sesame can be a lot different from the score that your lender pulls when you try to get a loan. Many people report that their real FICO score is higher or lower than their Credit Sesame score.
Moreover, they put a high priority on partners that are offering financial products. Credit Sesame helps you find products and services from loan providers, credit card companies, insurance companies and more. They offer recommendations only to Credit Sesame partners, and they receive money when those partners refer you to the right products.
Some people also complain that the tools and advice available from the site are limited, unless you sign up for a paid subscription. However, you can also ignore the premium features, they're not worth it.
For a premium upgrade, you will receive monthly updates to your Equifax, Experian and TransUnion credit scores and reports. You can get all three of them for free at annualcreditreport.com, so it's unlikely that you'd need to pay for the services on a monthly basis.
Is Credit Sesame Legit?
Credit Sesame is safe and valid, and offers advice if needed. It doesn't hurt to sign up to try Credit Sesame for free to see if you like the information and advice that is provided. As you start to take better control over your finances, you may want to add more features to your Credit Sesame account, like monitoring your spending and keeping an eye out for identity theft attempts.
Credit Sesame can help you get a better credit score. If you have bad credit, then you may want to try Credit Sesame. However, you should read this review first to make sure that it is the right fit for you.