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Credit Sesame?

Guava
Established Contributor

Credit Sesame?

Hi all, I'm wondering is anyone using credit monitor service from Credit Sesame (http://www.creditsesame.com/)? It appears to be free so is it safe and what kind of score (FICO or FAKO) does it give you?

 

Thank you.


Starting Score (08/11/11): TU08: 643
Current Score: TU08: 741
Goal Score: Stay in the 700s; keep reports clean


Take the FICO Fitness Challenge
Message 1 of 12
11 REPLIES 11
llecs
Moderator Emeritus

Re: Credit Sesame?

I just signed up out of curiosity. It's free and upon signing up, they'll pull your EX report and display balances, overall debt, house value, etc. They'll use this info to promote 3rd-party services in their recommendations to refi, consolidate, etc. They also provide an EX-created FAKO called a National Equivalency Score. They say they'll update monthly for free. Is it safe? I hope so.

Message 2 of 12
Guava
Established Contributor

Re: Credit Sesame?

Hi llecs, did they show your CCs' balances for you? They showed 0 for mine and I had to manually "edit my debt" to enter the balance, then it shows my util at the top and some fancy (but i think pretty useful) charts


Starting Score (08/11/11): TU08: 643
Current Score: TU08: 741
Goal Score: Stay in the 700s; keep reports clean


Take the FICO Fitness Challenge
Message 3 of 12
llecs
Moderator Emeritus

Re: Credit Sesame?


@silver0187 wrote:

Hi llecs, did they show your CCs' balances for you? They showed 0 for mine and I had to manually "edit my debt" to enter the balance, then it shows my util at the top and some fancy (but i think pretty useful) charts



They showed all of my balances, but their math on utilization was fuzzy. They ignored my mortgage balance and counted the high balance as a CL which made my util virtually non-existent. I pulled my EX report earlier in the day and the balances matched. Their appraisal estimate was a bit off too. I just bought out home on Feb. 1 and had two appraisals done. In relation, this service was about $25k less than those two appraisals.

Message 4 of 12
SocalMark
Regular Contributor

Re: Credit Sesame?

Good find hope it's safe score was off by 30 points from my freecreditreport pull today, But they couldn't find my Mortgage not sure why.

Message 5 of 12
Guava
Established Contributor

Re: Credit Sesame?


@SocalMark wrote:

Good find hope it's safe score was off by 30 points from my freecreditreport pull today, But they couldn't find my Mortgage not sure why.


From my reading, Credit Sesame gives FICO "style" EX score while freecreditreport gives FAKO "style" score ( <a href="http://www.blogger.com/comment.g?blogID=1204616278071140926&postID=6280558457461948996">Frugal Travel Guy</a> ) so it's probably why your scores are different from each other

 

Thanks for the inputs guys. If this site is legit then it's the best for those who want their EX score.

 

EDIT: somebody please teach me how to create a hyperlink Smiley Tongue


Starting Score (08/11/11): TU08: 643
Current Score: TU08: 741
Goal Score: Stay in the 700s; keep reports clean


Take the FICO Fitness Challenge
Message 6 of 12
twahl
New Member

Re: Credit Sesame?

Hi,

 

I just happened to come across this Credit Sesame thread.  I work in product management for Credit Sesame.  Just wanted to assure you all that Credit Sesame is 100% legit and safe. We are still in a beta state so not all of the Experian integration issues have been worked out quite yet but were working on it.

 

In any event, if anyone is interested in being a part of a user study or just provide honest feedback we'd love to hear it.  We have a bunch of new features and improvements in the works but it would be great to hear from a credit score knowlegable user base. I'd be happy to any questions that you might have as well.  Feel free to email me at [Edited]  Thanks.


Hello twahl,

 

Personal email addresses are not allowed to be posted in the public forums. Thanks for your understanding.

 

MarineVietvet, myFICO moderator

Message 7 of 12
beamMEup
Moderator Emeritus

Re: Credit Sesame?

Because DH just had an EX FICO pulled by a lender, I thought I'd log in to see what this Sesame site has to say.

 

DH's EX FICO is below average at 702; Sesame has it way off - at a lovely and nicely above average 753 (wish it was)!  Hey that's only 51 points off  Smiley Mad  Their FAKO score is very misleading.  Their advice is worse. 

 

Their recommendation was to refinance my home at, interestingly enough, the existing rate, and to include my auto loan and my PIF but balance-reporting cards.  Of course, it's very shaky reasoning that recommends you put your house on the line to pay off cc's and auto loans.

 

They also posted APR's on several of our low APR cards at 30%.  Funny.  On the other hand, Macy's which is an outrageous 24.99% was listed at 10%.

 

I also don’t like that they demand your annual income.  That’s not public record and I don’t give it out.  They demanded it – and I fudged it.

 

If anything, it was reassuring that our ducks are in a row – at least in their view – which I guess isn’t all that reassuring anyway.  Our cc's are at zero, our car loan is great - we wouldn't move either of those onto a mortgage ever.  So they had nothing to offer me.

 

Security warnings on every page.  I personally would avoid these guys.  Sometimes pretty charts cause a guy to crumble, but hold out for sites with solid information and sites that won't ask you for personal info in order to market their items to you.  IMO - This site is a potential cash cow for them - not helpful to you.  And it asks too much of you in return.

 

And, JIC you're wondering, you don't actually see your report.  At least I didn't see mine and I wandered around aimlessly for awhile.  If it's there, I missed it.

And I made sure to delete my account before logging off.

 

 

 

 

Just puttin' syrup on something, don't make it pancakes.
Message 8 of 12
CS800
Super Contributor

Re: Credit Sesame?

I signed up out of curiosity and they had my revolving balance $1000 over what it currently is, even my car payment was spot on. As to the FAKO, i was at 657 (I wish although i do not know my EX FICO).

 

Credit sesame is just the EX version of credit karma.

 

 




Message 9 of 12
CS800
Super Contributor

Re: Credit Sesame?

I tried to delete my account from there but it doesnt let me. When i go to my account and select delete my account, it grays out on me Smiley Sad




Message 10 of 12
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