One of our favorites?Credit Sesame.
(We talked to one guy who raised his credit score 300 points in six months!
But more on that in a minute.)
Chris Zuppa/The Penny Hoarder
Before signing up, you might have a few questions: Is Credit Sesame legit?
Is it actually free?
Hang tight; weve got all the answers you need.
Table of Contents
First: What Is Credit Sesame?
Credit Sesame is a site that allows you to get your credit score for free.
There are no catches.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Here, well tell you why tons of Penny Hoarders trust Credit Sesame and answer your most pressing questions.
Is Credit Sesame a Legit Site?
Can It Help Boost Your Credit Score?
Absolutely Credit Sesame is a legitimate website.
Ive used it for close to three years now to keep tabs on my credit score.
But in six months, his score had soared as high as 801.
I applied for my first credit card ever.
Before creating a Credit Sesame account, Morgan hadnt bothered to check his credit score in quite a while.
When he finally looked, his score hovered around 500.
He immediately started following Credit Sesames recommendations.
He opened a balance-transfer card, for example, to lower his credit utilization rate.
We will be continuing to follow Credit Sesames suggestions.
Is Credit Sesame Free?
Folks often ask: Is Credit Sesamereallyfree?
Its 100% free.
And its not sneaky, either.
But if its free, how does Credit Sesame make money?
For example, your credit score might be low because you have a high credit utilization rate.
How Accurate Is Credit Sesame?
Credit Sesame is accurate, but you might see a slightly different credit score on there than lenders see.
Well, there are three major credit-reporting bureaus: Equifax, Experian and TransUnion.
Each of these falls under two larger umbrellas of scoring models:FICO and VantageScore.
Credit Sesame shows you your TransUnion score, which falls under the VantageScore model.
How Close Is the Credit Sesame Score to FICO?
Credit Sesame shows you your TransUnion score, which falls under the VantageScore 3.0 model.
Lenders, however, most often use FICO scores when determining your borrowing power.
Although the scores might not exactly match up, they arent too drastically different.
Both models score you from 300 to 850.
Bottom line: It all works on the same basic level.
The higher the score, the lower the credit risk (and interest rates).
If you take steps to increase your VantageScore, then you should see an increase in your FICO score.
Is Credit Sesame Safe?
The fact is, Credit Sesame is safe.
The company is Better Business Bureau accredited and has an A+ rating.
These offers are fraudulent and have no association with Credit Sesame whatsoever.
It uses this information to tap into your credit report.
Dont fret, though.
Additionally, Credit Sesame refuses to sell your personal information to third-party advertisers.
Does Using Credit Sesame Hurt Your Credit Score?
A common misconception is that checking your credit score or tapping into your credit report hurts your credit.
This just isnt true.
Heres a quick personal finance 101 lesson: There are hard and soft credit inquiries.
Hard credit inquiries can ding your score a few points.
Is Credit Sesame Better Than Credit Karma?
The Penny Hoarder editor Dana Sitar reviewedCredit Sesame versus Credit Karmato find out which was better.
Pros of Credit Sesame
Wait, did we mention Credit Sesame is free?
Yup and it takes about90 seconds to sign up.
And it doesnt throw you to the wolves to determine what the heck is what.
Overall, the site is easy to navigate and almost (dare we say it?)
Plus, you’ve got the option to take it on the go with its mobile app.
First: the emails.
When you sign up for Credit Sesame, youll notice an influx of emails.
Theyre not spam; theyre just promotional emails and updates from the service.
There, you’re able to opt in and out of emails youd like to receive.
Instead, youll have to submit a request through itshelp center(top right corner).
All reporting is our own.
Carson Kohler ([email protected]) is a staff writer at The Penny Hoarder.
She uses Credit Sesame to keep tabs on her credit score and to take proactive steps to increase it.
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