Credit Sesame Review

How Does Credit Sesame Work?

Credit Sesame offers a TransUnion credit score once a month to all users, which is the Experian National Equivalency Score, not the FICO score. It is not the score that most lenders use to determine consumers’ actual credit score, but it is usually close to this score and is comparable to it. Credit monitoring allows people to see how their score changes over time so that they can try to rebuild and track their credit score. Additionally, if suspicious activity occurs under a member’s name, an alert is sent to the consumer. The site also offers suggestions on how to possibly improve credit or whether there are products available that can offer better rates.

Identity theft protection provides coverage in the event that a member is the victim of identity theft during their membership period. Identity fraud reimbursement coverage provides reimbursement to members for expenses and legal costs incurred by the member as a result of any of the following:

· Fraud or embezzlement – Coverage is available to members who have losses arising out of fraud or embezzlement.

· Theft loss – Coverage applies if a member has losses resulting directly from the loss of a checkbook, savings record, ATM access or their information from whom the member purchased goods or services.

· Forgery – Coverage applies if the member incurred losses because of the forgery of checks, drafts, promissory notes or similar documents.

· Data breach – Consumers whose information was misused due to a data breach from a financial institution, credit reporting agency credit grantor or securities firm are also covered.

· Stolen identity – Another event that can result in coverage is identity theft that is due to internet use.

· Unauthorized electronic fund transfer – If a consumer has funds stolen because of an unauthorized electronic fund transfer, coverage may apply.

If any of these events occur during a period of active membership, identity theft protection coverage may pay for the following:

· Costs to refile loans, grants or other applications

· Notarization costs

· Travel costs

· Postage

· Costs to freeze credit, thaw credit and transcript costs

· Court filing fees, expert witness fees and an appeal bond

· Lost base wages that would have been earned if the consumer did not have to try to cure his or her correct

· Compensation for loss of vacation days, paid time off, holidays and personal days

· Child or elder care costs that otherwise would not have been occurred

· Legal costs for an attorney pre-approved by Credit Sesame or costs up to $125 per hour

If a consumer’s identity it stolen, he or she also has access to professionals from Credit Sesame to help repair their credit.

Common Credit Sesame Reviews

Most identity theft protection reviews that center upon Credit Sesame are positive in nature. Most consumers say that the service provides exactly what it says. While the scores are not FICO scores, most consumers found that they were close to their actual credit scores and that the service provided clarity. One Credit Sesame review said that getting alerts was helpful because it allows consumers to catch problems early on before waiting to get a full credit report later.

Some complaints regarding the service seem to be based more on users’ misunderstanding of what the company does and how the service works. Others were based on a lack of customer support and receiving too many credit card offers. Some reviews cited issues with taking recommendations that did not pay off.

What Makes Credit Sesame Stand Out?

Credit Sesame is one of the most affordable options for credit monitoring and identity theft protection. While its free options are helpful to all consumers, the identity theft protection is comprehensive and worth the peace of mind, especially at its notably lower price point.

Is Credit Sesame for Me?

Credit Sesame is right for many consumers who want an affordable option to provide a plan in case of identity theft and a proactive credit monitoring service. It also offers a helpful app that many consumers appreciate and that yielded a national award.