Credit Sesame vs Credit Karma: Which Service is Better?
Are you looking for the best free site to monitor your credit?
In my search for the best service, I found myself debating on whether Credit Sesame or Credit Karma was better. Both sites offer a lot of the same services, but also have their own perks.
Before I share the results of my research with you, I want to clarify that the credit rating you see on a free credit score website is not the same score as your official FICO score. The credit score you see on the free services will be based on the individual models of that service.
I have found that the ratings are typically not drastically different
However, it is essential to know that it won’t be exact. The perk to these credit score services is that they will help you monitor and improve your credit score, for free.
Here’s a closer look at Credit Sesame vs. Credit Karma, as well as my opinion on which service is better.
Related: How Do Credit Repair Services Work?
Credit Sesame vs Credit Karma
Credit Sesame is an always free credit monitoring tool that bases its evaluation on your Transunion credit report. According to their blog site, Credit Sesame offers free credit scores to empower their customers to choose credit products with the best terms, and to take specific steps to improve their credit standing.
On the Credit Sesame interface, you will see several pieces of information, including:
- Credit score, color-coded dependent on whether your score is great, good, fair, or poor.
- Credit score analysis.
- Payment history.
- The number of accounts with negative marks.
- A debt analysis with total debt balance, monthly payments, and your debt to income ratio.
The site is easy to navigate and offers a lot of great features. Here is a list of some of their best features.
On top of offering free monthly credit scores, Credit Sesame also offers a free credit report analysis, a free credit report card, and free credit monitoring with Real-Time Alerts. Credit monitoring and real-time alerts are especially valuable because that means Credit Sesame will alert you if there is any suspicious activity on your account.
Identity Theft Protection
This service is only offered by Credit Sesame and is a significant benefit to their members. When you sign up for an account at Credit Sesame, you automatically get $50,000 in identity theft insurance. The service is entirely free and also provides you with fraud resolution assistance.
Credit Sesame has a great mobile app that works synonymously with their website. All the same, tools offered on their site are available on their mobile app, which is available for iPhone and Android.
Credit Card Suggestions
If you are looking for a credit card, whether you need to make a purchase or you want to work on raising your credit, Credit Sesame will use your credit information to suggest different card options like balance transfer cards, and reward offers.
Finding Best Rates Available
Credit Sesame offers another great feature that helps their users build their credit; it helps find the best rates for investment accounts, personal loans, and auto insurance policies. This service makes it easy for people to find the services that are best for them financially, without having to expend energy to search hundreds of places individually.
There are many benefits of Credit Sesame, and there are several testimonials on YouTube that details how it has helped them.
Now that we’ve taken a look at Credit Sesame, here is a look at its competitor, Credit Karma.
Like Credit Sesame, Credit Karma is also a free credit monitoring service. Credit Karma has a user-friendly interface that makes it easy for you to see your credit report and credit scores anytime you want. It also offers the ability to sign up for credit alerts, e-mail alerts for significant changes, and identity theft tracking, all for free.
One feature offered by Credit Karma alone is that it uses your credit score from both TransUnion and Equifax to track your estimated score. It uses VantageScore 3.0, developed by the three major credit bureaus; it is an alternative to the FICO score. While most lenders still use FICO, but VantageScore does give a close to accurate reading.
Here are some of its other great features:
Credit Karma has several different calculators available to help answer your debt questions. Whether you want to consider home affordability, consider debt repayment, or amortization, there is a calculator ready to help.
Free Credit Simulator
The free credit simulator is one of the best features of Credit Karma. The simulator considers all current credit information and then allows you to visualize how different choices will affect your credit. If you want to know what your credit score would do if you add more debt or pay some off, or make a late payment, the free credit simulator will help paint the picture for you. For people who want to improve their credit score, this is a great feature.
Free Tax Filing
Starting in 2016, Credit Karma offers free tax filing for federal and state returns, including those with Schedule Cs or other investment income.
Credit Karma also offers credit card and loan recommendations for free. You can filter your recommendations to find the services that meet your needs entirely.
If you are looking for a good review of the features of Credit Karma, check out this Forbes article.
Which is the Best Free Credit Score Site?
Credit Sesame and Credit Karma are two of the most known credit monitoring sites, offering a lot of similar features.
Both sites provide a wealth of free services to their users, like free credit monitoring and reports, credit card and loan recommendations, and alerts for potentially fraudulent activities.
They both offer unique services that other competitor sites don’t have.
Credit Sesame offers insurance, and Credit Karma offers free tax services. When considering the differences of Credit Sesame vs. Credit Karma, it’s easy to see that both platforms can be just right, depending on what you want and need.
My opinion is that Credit Sesame offers the best solutions to people with poor credit, who want to learn and utilize tools that will help them grow.
I feel like Credit Karma is great for people with decent or good credit who are looking for the best options for home or auto loans, investments, and other big financial decisions.
If you are looking for the best site to monitor your credit, you will find success with Credit Sesame or Credit Karma. With a wealth of helpful features, both sites offer great potential on helping people improve and monitor their credit.
For people who are torn between which credit monitoring service is best, like me, it is important to understand that you can sign up for both sites if you want to take advantage of the services each of them offer.
Have you used either site before? Do you have any reviews to offer? If you have any questions or opinions, contact us by commenting in our box. We would love to hear from you.
If you are ready to start improving your credit, it’s time to visit Credit Sesame or Credit Karma and sign up for your free membership today.