Credit Sesame Identity Theft Protection
Monitoring your credit is essential to protecting your online ientity, and Credit Sesame makes it easy.
- Free basic credit monitoring tier
- $50k insurance, $1 million w/paid plan
- Do-it-yourself service approach
With all of the options available for personal credit management and identity theft prevention, it can be hard to decide which platform to choose. Credit Karma’s 24/7 live chat for customers was a huge deciding factor when comparing it to competitors. After securing yet another round of funding in August 2019, they have become one of the biggest players in the credit monitoring and identity protection space. Here, we’ll discuss Credit Sesame’s pricing, how it compares to others in the market, and whether or not it’s worth the money.
|Credit bureaus monitored||TransUnion|
|Frequency of credit reports||Monthly|
|Daily credit score monitoring||Yes|
|Identity restoration service||Yes|
Credit Sesame Subscription Options
Credit Sesame has four different pricing plans to choose from, all with distinct features. This made it really simple to match our budget for our needs. With the free subscription, we were able to test the product and gain a general picture of our credit. A big plus of going with Credit Sesame is that no matter what level of subscription we were on, we would be insured for a minimum of $50,000 in reimbursements in the case of identity theft. Although the free subscription only covers one bureau with a monthly credit score update, we used it to make sure Credit Sesame was right for us before spending on a plan.
|Free||Advanced Credit||Pro Credit||Platinum Protection|
|Number of Credit Bureaus Monitored||1||3||3||3|
|Frequency of Credit Score Updates from 1 Bureau||Monthly||Daily||Daily||Daily|
|Frequency of Credit Score Updates from 3 Bureau||No||Monthly||Monthly||Monthly|
|Frequency of Credit Report Updates from 3 Bureaus||No||No||Monthly||Monthly|
|Maximum Identity Theft Insurance Reimbursement||$50,000||$1,000,000||$1,000,000||$1,000,000|
|24/7 Live Experts For Credit Report Inaccuracies||No||No||Yes||Yes|
|24/7 Live Experts For Lost or Stolen Wallets||No||No||No||Yes|
|Dark Web Monitoring||No||No||No||Yes|
|Public Records Monitoring||No||No||No||Yes|
|Payday Loans Monitoring||No||No||No||Yes|
|Sex Offender Monitoring||No||No||No||Yes|
|Change of Address Monitoring||No||No||No||Yes|
|Social Security Number Monitoring||No||No||No||Yes|
Tip: We recommend going with any package that will monitor all three credit bureaus. This will help you access the most comprehensive view of your credit.
There is a pretty big jump between spending $0 a month to spending $9.95 or $19.95 a month, so let’s talk a little bit about the difference between the services. The $19.95 option is by far the best bang for your buck if you’re looking for a comprehensive credit and identity fraud monitoring program. While it is a little pricey compared to competitors, when we tested it out, we discovered that the ability to scour the dark web, public records and the uses of our Social Security Numbers would be invaluable if our identities or credit card numbers were stolen. If all we needed was a comprehensive credit report that we could reference with a daily update, the $9.95 Advanced Credit option would have been the perfect middle ground. For a deeper dive on the features available, check out our Credit Sesame review.
Credit Sesame’s Pricing- How Does It Compare?
Overall, Credit Sesame’s pricing is right around the industry standard for credit and identification monitoring and protection. Credit Karma, a main competitor in the credit space, only has a free option, but it does not have as comprehensive identity monitoring, and more importantly, does not have identity theft reimbursement or insurance. Higher-end competitors like LifeLock’s subscription options range from $8.99 to $25.99 a month. Other competitors like Identity Guard offer larger and more variable subscription packages, ranging from $8.99 to $24.99 a month for individuals or $14.99 to $34.99 a month for families.
How Does Credit Sesame Protect You?
We always say, the best offense is a good defense. The only way to combat every attempt on your identity or credit is to effectively monitor all points of potential access. So, how does Credit Sesame line up against competitors? Do they cover all points? Here’s what’s covered by the most comprehensive Platinum Protection plan, which encompasses all the other plans:
- Credit Report and Credit Score Monitoring: All plans have at least one element of credit report and score monitoring, but the free version only covers one credit bureau. To get a full picture of your credit, we recommend checking in more than one credit bureau.
- ID Theft Insurance Reimbursement: All plans come with identity theft insurance with a minimum reimbursement of $50,000. For a free account, this is a great deal. The paid accounts have even more protection with identity theft insurance of up to $1,000,000.
- Change of address monitoring: If someone aside from ourselves tries to change our address through USPS, we’d get alerted.
- 24/7 Access to Live Experts for Credit and Lost Wallet Issues: This gave us access to a hotline where Credit Sesame experts walked us step by step through recovering our identity or making all the necessary calls to replace everything in our wallet. Unfortunately, this service is only available to account owners who pay upwards of $15.95 per month. That makes accessing customer service on Credit Sesame slightly more difficult than their competitors for other subscribers.
- Public records monitoring: Credit Sesame monitored all public records and made sure that our names weren’t being used. If they were, they’d let us know immediately.
- Social security number monitoring: Credit Sesame looked for our Social Security numbers with different aliases, names, and addresses to make sure no one was using our SSNs.
- Payday loans monitoring: If someone tried to open a payday loan in our names, we’d be alerted. This could both save us thousands of dollars and protect our credit scores.
- Sex offender monitoring: We want to stay out of sex offender registries, so Credit Sesame makes sure that our names are rightfully excluded.
- Comprehensive Monitoring of Public and Private Information Usage: Although we will have to spring for the most expensive package to get any of Credit Sesame’s identity monitoring, they do provide a comprehensive service. Their Platinum Protection plan covers off on some of the biggest identity theft hotspots, including a new hotspot, the dark web.1
Did You Know: Using a VPN to access public WiFi services can protect you from exposing your personal information while surfing the web. A reliable VPN service is a great first line of defense in your personal security portfolio.
Our Favorite Features
Whenever we get a chance to use a new ID protection resource, there are always a few key features that jump out at us. In the case of Credit Sesame there were three unique features that make their service stand out from the competition.
- 24/7 Live Expert Access: According to the Federal Trade Commission,2 we could be liable for $50 to $500 of unauthorized charges on our debit card. That’s why when we saw a few mysterious charges on our debit card, the first thing we did was call Credit Sesame. Having the expert hotline at Credit Sesame in our corner helped us track the fraudulent usage, contact our bank, and remedy the situation in less time than it would’ve taken us to find the bank’s phone number. Similarly, if our identities were stolen, we wouldn’t have known where to start; it’s a confusing process that involves contacting both private and public institutions. All in all, Credit Sesame made the whole process much easier.
- Identity Theft Insurance Coverage: Credit Sesame would reimburse us for expenses and legal costs incurred in the event of identity theft. Although this amount of money, $500,000 or $1,000,000, is an industry-standard, the expense reimbursement parameters were expansive. From fraud, theft, forgery to stolen identities, Credit Sesame had us covered.
- Lost Wallet Restoration: As a key aspect of Credit Sesame’s Platinum Protection plan, they provided a service that would have covered us almost completely if we lost our wallets. In that stressful situation, they would have made all necessary calls to reissue our IDs, credit cards, drivers licenses, and even passports!
How Does Credit Sesame’s Free Service Stack Up?
When we tried Credit Sesame’s free service, we were slightly disappointed to discover that it only searches one credit bureau on a monthly rolling basis. While this is a nice feature that can help us get a foothold on improving our credit score, we found that it didn’t go far enough to protect us. First and foremost, Credit Sesame is a credit monitoring company, so when we used the free service, we didn’t get any of their identity protection services. In order to get access to those we had to upgrade to the $19.95 Platinum Protection package.
An aspect about the user experience we noticed was that Credit Sesame advertises heavily throughout the platform on a free account. Before showing any of our credit information, they provided extensive links to potential credit cards that our credit history would qualify us for. Although this is understandable, it’s still a bit annoying. Credit Sesame is able to make up for this less than ideal credit monitoring and non-existant identification protection coverage with a $500,000 insurance against monetary losses.
The free subscription model is built as a testing ground for potential users. We were able to jump in, make sure we liked the service, and decide whether or not to spend on the full product.
How To Cancel Credit Sesame
Thankfully, we didn’t have to jump through too many hoops to cancel Credit Sesame. There are two cancelation models based on the packages users have from Credit Sesame. For free Credit Sesame users like us in the beginning, cancelling was incredibly easy; all we needed to do was visit their Termination Page, fill out the requisite information and our account was terminated.
After we upgraded to the Premium Credit Sesame package, the cancellation process was slightly more complicated. First, we needed to discontinue our paid subscription before closing the Credit Sesame account in general. To do that, we sent a message to their Member Success team to request termination of our subscription. They got back to us fairly quickly and let us know that after the current billing cycle, we would no longer be charged. Then we needed to go back and visit their Termination Page to fill out the requisite information and finally our account was terminated.
Overall, Credit Sesame is a great service, whose free subscription allows users to give it a try with some serious perks, but to get the best value from the service, you have to be willing to pay. If all you need is a monthly check to get a general idea of how our credit is doing, Credit Sesame might just be the perfect option for you. Anything beyond that will require spending right around the industry standard for credit and ID monitoring on a monthly basis. The best option for a completely comprehensive identity protection and credit monitoring program will cost $19.95 a month. First and foremost, Credit Sesame is a credit tracking company, so it’s not a huge surprise that their identification protections are for the highest level of premium service only. Where their lower spend subscriptions lack in identity protection, they do make up in helping us recoup losses in the event of a lost wallet or identity theft.
Is it safe to use Credit Sesame?
Yes, Credit Sesame is a safe and reputable company. In fact, they use the same security measures that banks and government agencies use to keep information safe and secure. When you enter sensitive information, such as your credit card number, Credit Sesame encrypts the transmission of that information using Secure Socket Layer technology and AES 256-bit encryption, the industry standard.
How accurate is Credit Sesame?
For identity monitoring, Credit Sesame is accurate. They do a great job considering they are a company primarily focused on credit monitoring. They cover off on all of the major locations where there could be transgressions against our identity with speed and efficiency. Credit Sesame’s credit reporting is accurate, but some services are more comprehensive than others. The free subscription only checks scores and reports from one credit bureau, which is enough for a basic individual measurement of credit. The score is accurate, but is not necessarily the same score lenders look at when we make an application for a loan or apply for credit, as it could differ based on the credit-reporting bureau. However, all paid subscriptions will run against all three bureaus, giving a total picture of your credit.
Does Credit Sesame do a “hard pull”?
No, Credit Sesame does not do a “hard pull”. A “hard pull” or “hard inquiry” is when a financial institution, such as a lender or credit card issuer, checks your credit which lowers your credit score for a short period of time. Checking our credit score through Credit Sesame did not have any effect on our score.
Does Credit Sesame show all 3 scores?
Depending on which level of subscription we have, the credit report from Credit Sesame either comes from one of the major bureau or all three major bureaus. Every paid subscription includes all three bureaus.
AARP. (2018). Is My Identity on the Dark Web?
FTC. (2020). Lost or Stolen Credit, ATM, and Debit Cards.