Credit Sesame Review – More than just a credit monitoring service
I wanted to do a review of Credit Sesame because I love it. It more than just a credit reporting service, it helps you improve your credit. Now, I will mention that while their base membership is free, they do offer premium packages ranging from $9.95 per month to $19.95 per month. Personally, I only use the free membership myself. It still provides me with the tools I need and want. I wrote this Credit Sesame review to show you why I like and use their service.
The first feature and what many use the service for is credit monitoring. Credit Sesame pulls your financial information from TransUnion and updates your score monthly. If you opt for one of their premiumÂ subscriptions, you get daily updates from 1 bureau and monthly updates from 3.
For the basic membership, Credit Sesame provides up to $50,000 to cover certain expenses and legal costs. There are conditions that have to be met in order to file a claim, they have more information on their website. While it may not be the best protection, it is better than nothing. If this kind of protection is important to you, you may want to consider a paid plan.
If you opt for theirÂ Platinum membership, you get a more robust identity protection plan. This option includes monitoring the internet for illegal use of your social security number, $1,000,000 identify theft insurance and 24/7 live support on identity theft restoration.
My financial goals
I think this section falls short of what it could be. They have a bunch of different personal finance type goals you can set and they help you with tips and offers to reach your goal. For example, you could set a goal to improve your credit score. Then it gives you tips and advice on ways to do that. If you follow them, you’ll be sure to see an improvement and hit your goal.
Most of the goals result in some sort of credit or loan offer. It’s clearly a method for them to make some affiliate money. They have a beta section that is pretty cool. It’s called the “0% financing.” Right now they only have 2 options, appliances and electronics but it shows you what retailers are offering 0% financing on these types of items and the terms. Now that is pretty cool and helpful.
I think if they take some time to add more value-add features to this section instead of chances to offer credit and loan offers it would be awesome. We’ll see what they do in the future.
Website user experience
I am a fan of the site, pretty clean and easy to use. The first thing you see at the top of your account dashboard is an account overview.
On the left side, it gives your credit score and tells you where that falls on the scale. As mentioned before, they only give you your TransUnion score and it’s updated once a month unless you opt for a premium package.
Next, it gives you a credit analysis that shows the different factors of your score and it rates them. The factors it shows are payment history, credit usage, credit age, account mix, and credit inquiries.
Lastly is the debt analysis section. It shows you your total debts, monthly payments, and debt to income ratio.
A nice feature is the ability to manage all of your credit and loans in one place. They pull the data monthly so you can see how you do month-to-month. They have it broken down to total debt, credit cards, auto loans, home loans, student loans, and other loans. It gives you information on balance history, interest rates, and monthly payments. They also show you options for loans and credit cards to apply for that may have better terms. Obviously, these are affiliate partnerships.
Like the website, I am very pleased with the mobile app. They offer pretty much everything the site does and it’s laid out in a way that is easy to navigate. Some people are mobile-only people and if you are one of these people and fear low-quality apps, fear not! this app will please you. While it may seem small one thing I liked it they use a passcode so you don’t have to always enter your password. I’ve seen financial apps that didn’t do this and I stopped using them after a couple days max.
Credit card and loan offers
The final part of my Credit Sesame review, the credit card and loan offers they constantly put in front of you. Sometimes it gets annoying because every time you turn around they have another recommended card or loan.
Not to negate the benefits because depending on your situation they could be very good offers. When I was paying off massive credit card debt I was taking advantage of all the 0% interest on balance transfer cards as I could. I just wish they were a little more subtle about it.
Credit Sesame Review Final Thoughts
Sign up, use it. It’s great and they have s free option. It is nice to have all your financial data in one place and it gives you a good opportunity to fix and improve everything you want. I hope you enjoyed my Credit Sesame review, now get started today.