If you want to improve your credit score, monitor your credit for identity theft, or just get a better understanding of how your credit score works, signing up for a credit management service can help. There are a few different credit management platforms and free tools to monitor your credit, like Credit Karma, CreditWise by Capital One, and Experian's free credit management tool. Another of these credit management platforms, Credit Sesame, recently launched a new premium subscription called Sesame+.
Let's look at the new details of Sesame+ and see how Credit Sesame or other credit monitoring tools can help improve your credit.
What is Credit Sesame?
Credit Sesame is a credit monitoring platform that gives you free, ongoing access to your full credit information. You can use the credit monitoring tools on Credit Sesame to:
- Check your credit score everyday: See the reasons behind your score, and get notified if something changes.
- See your Sesame Grade: A clear letter grade outlining the details on why your credit score is performing the way it is, based on five factors.
- Get personalized actions: See what you can do next to improve your credit score.
- See credit offers based on your credit profile: Credit Sesame will show you options for credit products, like credit cards or personal loans, where you will have the highest chance of approval. (Credit approval is not guaranteed.)
- Build your credit with the Sesame Credit Builder debit card: This is a unique type of debit card that lets you build credit with everyday purchases or by paying monthly bills. Unlike other credit-building financial products, like credit-builder loans or secured credit cards, the Sesame Credit Builder is a debit card -- so it doesn't require you to take on debt, make interest payments, or worry about getting approved. If you have limited credit history or are trying to rebuild your credit after a bankruptcy, the Sesame Credit Builder could be a good option to boost your credit score. (Note: there is a $9.99 monthly fee for the Sesame Credit Builder card, but this fee can be waived based on how you use your account.)
Credit Sesame has a free app for iOS and Android. You can sign up for a free account and start your journey to better understand your credit score and (ideally) improve your credit.
Sesame+: How it works
Along with these other credit monitoring tools, Credit Sesame has launched a premium subscription called Sesame+. Some Credit Sesame tools are available for free. But for a monthly fee, you can get a wider range of Sesame+ tools and features.
For example, the free plan offers credit score updates, monitoring, credit score insights, and credit product recommendations -- but the free plan only covers one credit bureau (TransUnion). If you want a wider range of credit-building features, plus credit monitoring for all three credit bureaus, you can pay a fee for Sesame+ ($9.99 per month) or Sesame+ 3 Bureau ($24.99 per month) and take your credit monitoring to the next level.
Here's what you get with the (free) Standard Credit Sesame plan, versus Sesame+ and the higher-tier Sesame+ 3 Bureau plan:
| What you get: | Standard Plan (free) | Sesame+ ($9.99/month) | Sesame+ 3 Bureau ($24.99/month) |
|---|---|---|---|
| Credit score updates | Yes (TransUnion only) | Yes (TransUnion only) | Yes (all 3 credit bureaus) |
| Credit monitoring and alerts | Yes (TransUnion only) | Yes (all 3 credit bureaus) | Yes (all 3 credit bureaus) |
| Credit score simulator | Yes (TransUnion only) | Yes (TransUnion only) | Yes (all 3 credit bureaus) |
| Credit score insights | Yes (TransUnion only) | Yes (TransUnion only) | Yes (all 3 credit bureaus) |
| Credit product recommendations | Yes | Yes | Yes |
| Monthly credit reports | No | Yes (TransUnion only) | Yes (all 3 credit bureaus) |
| Sesame Credit Builder debit card | No | Yes | Yes |
| Rent Reporting | No | Yes | Yes |
| Instant credit offers | No | Yes | Yes |
| Credit dispute support | No | Yes | Yes |
| 24/7 fraud alerts | No | Yes | Yes |
| $1 million of identity theft protection | No | Yes | Yes |
Data source: Credit Sesame.
If you sign up for Sesame+ or Sesame+ 3 Bureau, you get the Sesame Credit Builder debit card included in your paid plan, along with getting your rent payments reported on your credit history (including up to 24 months of past payments you've made). The paid plans also provide credit dispute support, 24/7 fraud alerts, and other benefits for your personal finances.
If you have gone through a bankruptcy and are trying to rebuild your credit, or if you're just getting started in your career, or have other life circ*mstances that have caused you to have limited credit history or a low credit score, Credit Sesame could be a good tool. If you have been a victim of identity theft, or if you want more powerful support in your corner in case someone steals your identity, a Sesame+ subscription could also be worth the money.
Bottom line: Even if you have good credit, Credit Sesame can be a powerful way to visualize your credit score and understand why your score is what it is. Credit doesn't have to be mysterious, confusing, or something to be afraid of. Credit monitoring tools like Credit Sesame can help you get informed and empowered, and put you on a better path to financial wellness.
