The Differences Between Credit Sesame and Credit Karma

Credit Sesame VS Credit Karma

In the past few months, we’ve done several reviews on credit report and monitoring services. When it comes to the free options, Credit Karma and Credit Sesame seem to be some of the best services I’ve come across.

With these two options being some of the best out there, it would be interesting to do a side by side comparison review to see how they stack up against each other. So, let’s check it out.

Things Credit Sesame and Credit Karma Have In Common

When there apps are in the same category, they generally have some pretty big similarities. So before we get into what sets the two options aside from each other, we should probably discuss what they have in common.

• 100% Free Monitoring – Both Credit Sesame and Credit Karma are 100% free. I’m not talking about the free we normally see with free credit score and monitoring services where you sign up for a free trial only to be charged 2 weeks later. No, these free services are absolutely free. You won’t be charged today, tomorrow, two weeks from now or two years from now. When they say FREE, they mean it!
• Custom Credit Scores – As consumers when we think of credit scores, we naturally think FICO scores. However, when it comes to Credit Sesame and Credit Karma, the credit scores they display are not FICO scores. The simple fact is FICO scores are scores designed by the Fair Isaac Corporation and you’ll be lucky if you come across them for free. That doesn’t mean the scores provided by Credit Karma and Credit Sesame aren’t valuable. As a matter of fact, they work much like FICO scores. So, keeping tabs on your Credit Karma or Credit Sesame credit scores gives you an idea of how well, or how bad your actual FICO score might be doing.
• Ease of Use – Both of these services are incredibly easy to use; which just so happens to be one of my favorite aspects of them. The truth is that personal finance apps have become so convoluted with options and information that the average person doesn’t need, that it’s become hard for the average person to use them. It seems like both Credit Karma and Credit Sesame have taken notice to the convolution issue. They’ve made sure to show you the information you need to know without confusing you with the information that’s not important.

What Credit Report Do These Tools Use?

• Credit Sesame uses information found from your TransUnion credit report.
• Credit Karma provides uses access to two credit reports from Transunion and Equifax.

What Are The Differences Between Credit Sesame and Credit Karma

Tools Only Credit Sesame Provides

Aside from general credit score monitoring services, Credit Sesame gives you access to some pretty neat personal finance tools. Here’s a quick rundown of the tools Credit Sesame has that Credit Karma Doesn’t.

• Complete Debt & Loan Analysis – If you’re working on digging your way out of debt, this tool is going to prove itself to be overwhelmingly helpful. By digging through your credit report, Credit Sesame comes up with a complete loan and debt analysis that makes managing debt much easier on the average person.
• Personalized Savings Advise – Based on information in your unique financial portfolio, Credit Sesame shows you other options for loans and services that you have that can save you money! The app will show you how to save money by reducing interest rates on loans, reducing costs of services, and increasing income potential on investments.

Tools Only Credit Karma Provides

• Credit Score Simulator – This is one of my favorite tools provided by any credit score monitoring app out there. This tool allows you to simulate financial decisions that you may be making in the future to see how those decisions will affect your credit. Are you planning on buying a car, buying a house, paying off a credit card, closing a credit card, buying a new car, or making another major credit decision? This took will help make sure that you make an educated decision.
• “Best Of” List Of Financial Products – This is a great list of resources for several different types of financial products ranging from credit cards to debt help, credit repair, checking accounts and more! It’s a great best of list and I definitely recommend checking it out.
• Advertising That Helps – Credit Karma is free, but that doesn’t mean that the company doesn’t get paid. They get paid by showing you advertisements that will help make your overall financial outlook better. So, even the advertisements in the system are beneficial.

So, Which Option Is Better Credit Sesame Or Credit Karma?

To be honest, the answer is neither. Both options are great, and both options are free. Personally, I use them both in conjunction with each other because they both provide unique tools that I enjoy using. I don’t see any reason someone wouldn’t benefit from using them both.

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