Is Credit Sesame a Scam?

Credit Sesame’s mission is to find the best way for you to manage your credit and loans and to save money and build wealth. To achieve its mission, Credit Sesame offers free credit monitoring and reporting services to consumers.

Credit Sesame members receive one free credit score per month and are able to monitor their credit report for free. Consumers who sign up for Credit Sesame also receive free identity theft protection insurance.

Is the credit score on Credit Sesame really free?

Yes, the credit score is free. Credit Sesame does not charge consumers for a copy of their credit scores. Credit Sesame does recommend loans and credit cards based on your credit score and earns a fee from banks for recommending their products.

Some companies offer you a free credit score, but require your credit card number when you register. They then charge you a monthly fee for keeping your account. Credit Sesame does not do that. They do not ask for your credit card to open an account.

Does Credit Sesame give your actual credit score?

The credit score you receive from Credit Sesame is not the FICO score that lenders see when they pull your credit report. Credit Sesame gives you a score from Trans Union that is similar to your FICO score and tracks along the same trajectory as your FICO score. An increase in your FICO score will show as an increase on the Credit Sesame score.

There are three credit bureaus that track you credit score. Not all lenders report to all three credit bureaus so the information on your credit report will vary between the three credit bureaus and your credit score will vary between the three credit bureaus. There is no one actual credit score. Everyone has different credit scores based on the credit bureau reporting the score. The score your receive from Credit Sesame is close to the credit score a lender will see.

What is credit monitoring?

Credit monitoring tracks changes to your credit report. It sends you an alert if a new credit inquiry is reported or there is any change to your credit report. Being aware of changes to your credit report helps protect you from identity theft.

Is it safe?

Credit Sesame needs your social security number to sign up. Once you sign up, Credit Sesame tracks your credit score and debt over time so you can see the change. But is it safe? Yes, Credit Sesame uses the same encryption methods as banks. Credit Sesame does not sell your personal data or share it with advertisers, employees or third parties.

Credit Sesame actually provides free identity theft protection. All Credit Sesame members have $50,000 worth in insurance for protection from identity theft.

Is Credit Sesame a scam?

Credit Sesame is not a scam. User data is securely stored and not shared. Millions of people have benefited from monitoring their credit score with Credit Sesame and other services like Credit Karma. They have also saved on loans using the products recommended by Credit Sesame. If you are looking for a way to monitor your credit score and learn more about improving your score, Credit Sesame is a valuable free resource.