Credit Sesame VS Credit Karma

Credit Sesame VS Credit Karma

Credit Sesame VS Credit Karma

Which ONE should you CHoose and Why?

 

With so much hype today about Credit Reports, Credit Scores and Identity Theft you don’t have to look far before you can find a few AMAZING sites that offer these products for you and get this, they are 100% FREE.  Truly, there are o strings attached these 2 APPS don’t even ask for your credit card information when you set up your account.  Also, you don’t even need to input your complete social security number into Credit Sesame and it finds your information and it was 100% accurate when I became a member.

If you follow my other BLOGS you will hear me talk about your TRUE CREDIT SCORE and how most if not all of the FREE sites do not actually provide you with your FICO score that almost all lenders use when your seeking financing on things from Credit Cards, Auto Loans, Student Loans and Mortgages.  Instead, you will receive a credit score MODEL that is normally referred to as your VANTAGE Score 3.0 that is an algorithm that the credit agency created for educational reasons but is normally a very good indicator of what your average FICO may be.

The benefit of these services, as you’ll see, is that they can help you improve your score at no cost.  Lets now REVIEW:

Credit Sesame

Credit Sesame isn’t FREE for a Trail Period but is 100% FREE all the time.  You will be able to access your Trans Union Vantage Score 1 time per month.  The APP is really functional and laid out nicely.  With your score, it advises you on why the score is what it is by breaking down your Payment History- Credit Usage-Credit Age-Account Mix-Credit Inquiries.  All of these areas play a key role in your overall credit SCORE.

 

Some of the other benefits offered for free through Credit Sesame:

  • Mobile Apps–Credit Sesame has a mobile app that allows you to access the same information and tools that are available on the website using your iPhone or Android mobile device.
  • Credit Card Suggestions–With the information provided in your credit profile, Credit Sesame is able to suggest balance transfer and rewards offers.
  • The Best Rates AvailableCredit Sesame will search to find the best rates available on personal loans, investment accounts, and auto insurance policies.
  • Free Identity Theft Protection–When you sign up for the site, you get $50,000 in identity theft insurance and fraud resolution assistance.

 

 

Credit Karma

Credit Karma

also offers a free credit monitoring service and makes it easy to access your scores and credit reports from their mobile APP as well as on a desktop. In addition, you can also sign up for free automatic credit alerts, email alerts, and identity theft tracking and protection.

One Big advantage to Credit Karma is that it pulls credit from BOTH TRans Union & Equifax providing you two credit scores but they do not come out and say what the ACTUAL scores are that they are using.  Another unique feature about Credit Karma is that provides you with a simulator so you can actually manipulate your score to see what would happen if you paid accounts down or if you added to the balance on a card.  It also shows you what would happen if you made a late payment on an account.

Credit Karma also offers several good calculators, including a home affordability calculator, a debt repayment calculator, and an amortization calculator.

THE WINNER IS

You:

The Great thing is you don’t have to choose because both systems are 100% FREE ALL THE TIME.  By using both of these systems you will get the BEST features of Both of them and your CREDIT SCORE will NOT be affected each month when you get your update Credit Scores.

You will get the benefits of being:

  • Trans Union Vantage Score along with an Equifax Score
  • APPs that are streamlined with a very easy interface
  • Credit Card Suggestions
  • Best Rates available tool
  • Score Simulator
  • Amazing Financial Calculators
  • $50,000 Identity Theft Insurance

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Regulatory Information: The State of Illinois | Division of Banking located at 100 W Randolph St, Chicago, IL 60601 (312) 814-4500 | NMLS # 266214 Dan Frio NMLS 246527
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