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Credit Sesame Review

Saturday, March 2nd

2024 Credit Monitoring Company Reviews

Credit Sesame Review 1.5 Star Rating

Credit Sesame

1.5 Star Rating
  • Free to use for basic features
  • Premium plan available for $9.95-$15.95/month
  • Only monitors TransUnion on free plan
  • Daily score refreshes

The founder of Credit Sesame is a big part of the reason it's now super easy for consumers to have free access to their credit scores: Adrian Nazari negotiated for months with TransUnion to convince the bureau to offer that report for free instead of charging $10. The company has worked with millions of people to improve credit scores, increase their chances of being approved for credit, and to save money.

Solid features with a free account

Credit Sesame itself is also free, as long as you're looking strictly for basic credit monitoring from TransUnion. Your score will be refreshed daily, and you'll get notifications about address changes, credit inquiries, and new accounts that could be an indicator of identity theft. The free plan also includes a credit report summary and recommendations for financial products that might help you on your path to financial well-being.

Paid plans without enough information upfront

This platform also offers a paid subscription, and that's how you'll access all top-tier features. These include monitoring of all three credit bureaus, $1 million in identity theft insurance, wallet protection, ID monitoring, and more. But, it's aggravating that Credit Sesame doesn't give you any inkling about these paid plans until (or unless) you already have an account.

Feels a little shady

It starts feeling a little shifty and shady, having to poke around in the FAQs and on third-party websites to even determine that people are paying anywhere from $9.99 to $15.99 per month for this premium tier of service. Those prices aren't unreasonable compared with similar credit monitoring providers, so why not come out and state it upfront? People who are struggling with their credit don't need one more thing that feels like it's trying to trick them into a service they might not really need.

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Brags about reputation, but BBB and customers tell a different story

Although Credit Sesame proudly advertises that they have an average customer rating of 4.5 stars out of 5 across more than 500,000 reviews, we're not sure where that comes from: there's no link to those reviews on the site, and when we looked around we definitely didn't find hundreds of thousands of compliments for this credit monitoring service. Go to a site like Trustpilot and see for yourself: across all of Credit Sesame's products, from banking to credit building, people are saying you should avoid doing any kind of business here.

Dissatisfied customers

Comments like "I have no idea where my money is" and "Money was taken from my account fraudulently and no one at Credit Sesame notified me or helped me when I discovered it" paint a disappointing picture of what's going on at this company. Even the Better Business Bureau agrees, giving Credit Sesame a "D-" rating for failing to respond to nearly 50 complaints out of the 140 filed over the last three years.

Not worth using for credit monitoring

You could use Credit Sesame for the free tools, and you'd probably be okay. But, if you start using Credit Sesame's recommended products for improving your credit, we're pretty sure you're going to wind up disappointed - or worse, in a situation where your credit is being affected by the company's lack of customer support. Try out the higher-rated credit monitoring resources on our list before even considering Credit Sesame.

Who Offers the Best Credit Monitoring Service?

In today's interconnected digital world, maintaining a strong credit profile is essential. That's where credit monitoring services come into play - valuable tools to safeguard your financial well-being and keep you informed about your credit health. These services provide continuous oversight of your credit report and alert you to any significant changes.

Credit monitoring lets you to detect and respond swiftly to potential threats like identity theft, fraud, or errors on your credit reports. They do this by sending you alerts via email or text whenever there are significant changes in your credit report. They offer ongoing monitoring of your credit reports from major credit bureaus, allowing you to stay vigilant without manual effort. Moreover, many credit monitoring services provide educational resources and tips for improving your credit scores and managing debt.

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Credit Monitoring Company FAQ

Credit monitoring keeps an eye on financial transactions associated with your credit use: your buying behavior, changes in your credit score, and so on. When potential fraud is detected, a credit monitoring service notifies you quickly so that you can put a stop to any unauthorized use of your information or money.
Unless you have the time and energy to keep an eagle-eye watch over all of your accounts, credit monitoring is a must in this age of phishing scams, spam phone calls, and data breaches. Having a credit monitoring service in place can shut down fraudsters early on, before any serious damage is done to your credit history (or your bank balance!).
It's important to point out that credit monitoring doesn't prevent fraud. It can only give you tools to try and protect yourself, while letting you know right away if anything suspicious is detected. Credit monitoring won't stop your credit card from being skimmed, keep your data protected if there's a breach somewhere, or prevent an identity theft from applying for credit in your name.
Both types of score represent different models used to predict how likely it is that any given consumer will be at least 90 days behind on a bill sometime in the next two years. Because they give different weights to the various components in their calculations, the scores they return can be different for the same individual. For example, to get a FICO score, you need to have at least one credit account that's six months "old" or more, but a VantageScore only requires you to have one active account (even if it's not six months "old" ).
Many services are offered at no charge. Yes, you read that correctly: you can get a certain level of credit monitoring for absolutely no fees. However, if you're looking for the most comprehensive services, you can expect monthly fees ranging from $12 to $35.
It's definitely worth considering. Because most minors don't have extremely active credit accounts (car loans, credit cards, and so on), fraud can go undetected for a very long time. Without credit monitoring, your child could go to apply for a college loan or their first credit card and find out that someone has been using their name to open accounts for years!
Be sure to check out what other customers have said about the service. Also, look for a listing with the Better Business Bureau, to give yourself that added assurance that the credit monitoring service you're considering is reputable.
While your credit card company probably does alert you if fraud is detected, it's not designed to be comprehensive: they don't keep an eye on your bank account or any use of your Social Security number to open accounts. Your bank may provide your credit score when you sign into your account, but they don't flag most transactions. Unless you're going to play an active role in monitoring your credit, it's worth it to pay for a service to track it all for you. Plus, many credit monitoring services will help you restore your identity if it's compromised while you're a subscriber.
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Continued from above...

In the unfortunate event of identity theft, reputable credit monitoring services often offer assistance in resolving issues and restoring your credit, providing you with valuable support and guidance during a challenging time. It's important to note that credit monitoring primarily focuses on credit-related activities and may not detect all forms of identity theft or fraud, such as medical or criminal identity theft.

Additionally, you may receive alerts for legitimate actions, which could lead to unnecessary concern or alert fatigue. And, it's crucial to understand that credit monitoring services can't prevent or stop fraudulent activities; they can only provide information and alerts, underscoring the importance of your own proactive vigilance in protecting your financial well-being.

Now that you understand what credit monitoring can (and can't) do for you, how do you choose which option is right for you? There are a lot of similarities among providers of this service, and it can get frustrating trying to sort out the minute differences that could impact your decision.

Consider these factors that might illuminate those differences and make it clearer which one you should choose:

  • Cost. Evaluate the pricing structure, including monthly or annual fees, to determine if it offers a good value for what you'll be paying. Don't shy away from free credit monitoring options, either.
  • Features. Consider the range of features offered, such as credit report monitoring, credit score tracking, identity theft protection, and fraud resolution support. Check which credit bureaus' reports are monitored, as coverage can vary among different services (Experian, Equifax, TransUnion, or even FICO).
  • Reputation. Research the service provider's reputation, read user reviews, and assess their track record in delivering reliable alerts and assistance.
  • Alert system. Assess the speed and effectiveness of the alert system in notifying you about changes in your credit reports.
  • Customer support. Look for responsive customer support options, especially for resolving issues related to false alarms or identity theft incidents.
  • Educational resources. Some of the best credit monitoring services go the extra mile to help you understand credit reports, scores, and financial management.
  • Mobile app. If applicable, evaluate the user-friendliness and functionality of the mobile app for convenient access to credit information.

Credit monitoring services offer you valuable tools to protect your financial well-being and maintain a healthy credit profile, and Top Consumer Reviews has done the legwork to make it easy to compare today's most popular providers. We're confident that this information will empower you to take control of your financial life and stay on top of your credit profile.

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