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Credit Sesame: Best Free Credit Services for 2020

When applying for new credit or a loan, lenders and other creditors assess you not only on your ability to repay the loan, but also on your credit score. And if your credit score is not where it’s supposed to be, getting a home loan can be quite difficult. Credit Sesame understands how important a good credit score is to your financial health. That’s why Credit Sesame’s credit score checking is always free and their service is among the best in the U.S.

In addition to offering a free credit score and credit report, Credit Sesame also provides a free credit monitoring service and a free identity fraud protection service, giving you a more comprehensive look at your credit score. This is crucial as it allows you to take immediate action in case of fraud and identity theft.

So if you’re looking for the best free credit service, Credit Sesame has got you covered. Click here to get you started.

What is Credit Sesame?

Credit Sesame, in a nutshell, is a free personal finance management tool, specializing in tracking and monitoring people’s credit scores. An individual simply signs up for the service for free without needing a credit card. All they need to enter is their Social Security Number. There is no commitment. There is no trial. If you decide at some point you don’t like getting free credit scores, you can cancel your registration at any point.

Credit Sesame doesn’t ask for a credit to join either.

Credit Sesame Offers a Free Credit Score

If you’re wondering whether your credit score is really free with Credit Sesame, then the answer is a resounding YES. In fact, that’s what makes their service so popular. They understand that a good credit score is crucial to one’s financial well being. So, by providing you with a free credit score every month, you have an idea of where you stand. And if your score is not where it is supposed to be , you can take steps to raise your credit score.

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What is a Good Credit Score?

How does Credit Sesame Work and how does it check your credit score?

When you check your credit score with Credit Sesame, it’s all free. That is no credit is required, no trials, or commitment. You just enter your email address to get started. You will get a credit score instantly, which is pulled from Transunion. After that, you get a new credit score once a month. If you want a daily score, then you’ll have to try the premium account.

In case you are wondering, checking your credit score with Credit Sesame does not affect your score, because it is a soft check. However, if it was a hard check like applying for a loan or a credit card, then it would hurt your credit score.

So how does Credit Sesame comes with a credit score for you? Doing a credit check is simple. Credit Sesame actually pulls your credit information from TransUnion to get you a score.

Credit Sesame Also Provides A Free Credit Monitoring Service

Not only does Credit Sesame give you a free credit score, it also monitors your credit for you. Credit Sesame monitors your credit score by keeping tracks of your credit reports from Transunion.

When changes are made to your credit report, they will notify you of those changes. Changes include large purchases, credit inquiries, and new account openings. If there are no changes, they will still update your credit score once a month to show you how you’re progressing.

In addition to giving you a credit score, Credit Sesame will also get you personalized recommendation on how to save money, on home loans, credit cards, car loans, etc. With their in-depth analysis, Credit Sesame will give you customized recommendations on which credit cards are good for you and which loans you’re likely to get qualified for based on your credit score.

For example, if you’re overpaying in fees and interests, it will give you recommendations on how to lower those payments.

What more can you possibly ask for!?

Understanding your credit score from Credit Sesame:

When you get your credit score from Credit Sesame, you will get a number ranging from 300 (being the poorest) to 850 (being the highest credit score). See the table below. It’s important to understand what your score means. And if you’re not happy where you stand, then take steps to improve it.

Image from credit sesame

Poor Credit score

A poor or bad credit score ranges from 300 to 640. Having a bad score can really lower your chance to get approved for any credit. You may be able to get a home loan, like an FHA loan (where the minimum credit score is 580), but that’s about it. Getting anything from applying for a credit card to getting a mortgage, Credit Sesame explains, will be very difficult. And if you do get approved for credit, you’ll get hit with very high interest rates.

Fair Credit Score

If you have a credit score between 640 to 680, then you have a fair credit score. With this range, you’re a little bit better off than those with a bad or poor credit score. You can start applying for loans and credit cards. But you still need to try improve you score, so that more options can become available to you.

Good credit Score

A good credit score is considered to be between 680 to 720. According to Credit Sesame, if you have a good credit score, several perks are available when applying for credit. However, that does not mean you should stop paying your bills on time and start applying for new credit. It means that you to keep doing what you’re doing and try to raise your credit score to 850.

Excellent Credit Score

An excellent credit score means that your payment history, your credit card utilization, your credit age, and inquiry are at a perfect level. Having an excellent credit score open several doors to the best loan rates, credit card offers, etc..

When you view your credit report, you’ll see what factors affect your score. According to Credit Sesame, your credit score depends on the the 5 factors below:

credit sesame
image from credit sesame

1) Payment history: payment history accounts for 35% of your total credit score. In fact, it is the most important factor in your total credit score. Late or missed payments can negatively affect your credit score.

2) Credit utilization: Credit utilization is how much of your credit limit you’re using versus your balance. Credit card utilization accounts for 30% of your total credit score. So keeping it low is ideal. Keeping your credit card balance under 30% is the way to go. For example, let’s suppose your credit card has a credit limit of $5000. You have used $2500 of that credit. Then your credit utilization is 50%. To keep it below 30%, you should only use $1500 of that credit.

3) Credit age: The third most important factor of your total credit score is your credit age. That means how long you have had credit. Lenders like to see a longer credit age. In your credit report, you’ll be able to see your average credit age.

4) Account mix: Lenders like to see a good mix of credits that include, credit cards, student loans, car loans, and home loans.

5) Credit Inquiry: The higher your credit inquiries, the lower your credit score can become. Anytime you apply for a loan or a credit card or when a landlord checks your credit, it can cause a small dip in your credit score. So multiple credit inquiries can hurt your credit score rather than improving it.

Credit Sesame Login

How can I login to my Credit Sesame Page?

You can login to your Credit Sesame page at their website. Click here to login to your account, or visit the Credit Sesame website at www.creditsesame.com.

Where can I find help login into my Credit Sesame account page?

If you need help finding your login info to log in to your Credit Sesame account or if you have any questions regarding Credit Sesame Login, the Help & Support team at Credit Sesame provides customer support via their website at www.creditsesame.com. You can also contact Credit Sesame at their Help Center.

Credit Sesame & Other competitors

There are several free credit monitoring services out there. They are, just to name a few, Credit Karma, Quizzle, Credit.com, WalletHub. In addition, other credit card companies also offer free credit scores, such as Discover, Capital One, Barclay, etc..

But of all of these credit monitoring services, credit karma seems to be Credit Sesame’s biggest competitor.

Credit Sesame v. Credit Karma

Another credit monitoring service out there is Credit Karma. But a little bit different than Credit Sesame. Just like Credit Sesame, it provides free scores and reports, but both from Transunion and Equifax.

Like Credit Sesame, you also don’t need to provide a credit card to sign up. Credit Karma also provides a detailed analysis of your credit report, showing you how actions such as adding a new credit card or paying down a debt can increase your credit score.

It also recommends financial products, such as credit cards, personal loan or home loan, based on your credit profile. And if you open an account with one of them through the website, it makes money.

Credit Sesame v. Quizzle

Quizzle is another credit monitoring service that is free and does not require a user to use their credit cards to join. Like Credit Sesame, you get a free credit score, but you only get it every three months. Moreover, when you receive your credit report from Quizzle, it also gives you recommendation on home loans and credit cards. By doing so, it receives compensation from these companies.

Quizzle also has a premium service called Quizzle Pro and is $8 per month.

Of all these credit monitoring services, Credit Sesame is a better choice. Not only do you a get a free credit score every month, you also get a free identity theft protection for free.

Credit Sesame’s Free Identity Theft Protection

What is identity theft? Identity theft is when someone uses your personal information such as your social security number, name and address, and use this information as their own. They can use your information to make large purchases, apply for new credit cards, and open other accounts.

If your identity is stolen, it may significantly impact your financial health. It may prevent you from taking a mortgage, credit card or other types of credit.

That’s why Credit Sesame’s free identity theft protection comes in handy. That service protects your identity and credit.

In addition, you’ll be covered with $50k theft insurance.

It’s also 100% Free.

Just login to your account and turn on the free credit monitoring feature. They’ll also give you free live access to speak with identity restoration specialists in case you are victim of identity theft.

Click here to get started with Credit Sesame’s Free Identity Theft Protection

Does Credit Sesame have an app?

Credit Sesame Wherever You Go
Your Finances on iPhone, Android & Kindle

credit sesame app
image from credit sesame

Yes, Credit Sesame does have an app. Get your free credit score on the go through their app. If you are an Apple user, you can get the app on the ITunes App Store. For those who have an Android, you can get the Credit Sesame app on Google Play. The app is safe to use. All you do is set a 4-digit PIN on the app to safeguard your info.

Access Your Finances on the Go

  • Get a snapshot of your credit, loans and debt, all in one place
  • View your credit score, updated monthly
  • See your home value estimate
  • Get real time savings advice on your home loans

If you want more information about the Credit Sesame app, go to their website at www.creditsesame.com.

Bottom Line

Mortgage lenders, credit card companies, landlords, banks use your credit score to decide whether to offer you a loan or credit. So, it’s very important to check your credit score regularly.

Doing so gives you an understanding where you stand. So when you’re ready to apply for a home loan or new credit, there are no surprises. Moreover, checking your credit score regularly allows you to identify any errors and mistakes so that you ca dispute them immediately.

Credit Sesame gives you a free credit score from Transunion each month. It also monitors your credit report for you daily and will alert you if there are any changes made to your credit report.

In addition, Credit Sesame will provide you a detailed analysis of your credit report so you can see how to improve your financial situation. Further, Credit Sesame will protect your identity from being stolen through their free Identity Theft Protection Service.

Read more:

3 Simple Ways to Dispute Your Equifax Credit Report

When Should You Pay Your Credit Card Bill

Why Did My Credit Score Drop? Main Reasons

Speak with the Right Financial Advisor

You can talk to a financial advisor who can review your finances and help you reach your goals (whether it is making more money, paying off debt, investing, buying a house, planning for retirement, saving, etc). Find one who meets your needs with SmartAsset’s free financial advisor matching service. You answer a few questions and they match you with up to three financial advisors in your area. So, if you want help developing a plan to reach your financial goals, get started now.

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