Credit Sesame Free Experian Credit Monitoring Review

Credit Monitoring:
Credit Sesame
Price:
$0

Reviewed by:
Rating:
4
On August 12, 2013
Last modified:February 17, 2014

Summary:

Credit Sesame Free Experian Credit Monitoring Service allows users to monitor events in their credit reports which could negatively affect their credit scores and detect fraudulent activities. Credit monitoring is performed on a daily basis. Credit Sesame is free and users can also receive free credit score from Experian.

I have been a customer of  Credit Sesame for several years already. Even though it offers a set of services, such as mortgage refinance (not that Credit Sesame will refinance your existing mortgage, but it will provide lender information with rates) and credit cards from various issuers, the only service I use is the free credit score. Since it is one of the FAKO scores, the absolute value of the score doesn’t really matter that much to me, but still I consider it as a valid tool to keep an eye on any dramatic change of my score. The Credit Sesame free credit score is useful to me in the sense that it shows me the trend of my score over time, not that it is the FICO score that most creditors use. Because the service is free of charge, I don’t many complaints about what I get from Credit Sesame, even though I would like to see my credit score gets updated a little more frequent than just once a month.

Related: The Correlation between FAKO Scores and FICO Scores

The new free service I am talking about today is credit monitoring from Experian, one of the leading credit agencies which also provides Credit Sesame users the free credit score. Like the credit score, Experian credit monitoring service is also absolutely free for Credit Sesame customers. However, it does require that you manually turn it on as by default the service is off. To activate the service, all you need to do is logging into your account (sign up for Credit Sesame is free if you don’t have an account already), and turning on the monitor under the My Monitoring tab (this is a new tab you will see once you logged in if you already have an account), all done with three mouse clicks.

Related: Paid and Free Credit Monitoring Services

As I mentioned about, the biggest complaint I have with Credit Sesame’s free credit score is that the score only gets updated once a month. As a result, it’s not possible, at least with the current Credit Sesame service, to detect any significant in real time (well, maybe not exactly in real time, but fairly quickly). And there’s a big difference between credit score check and credit monitoring. For credit monitoring, it looks for events in one’s credit report on a daily basis and alerts the user for any change that could affect his/her credit score. Events that are currently being monitored by Experian include:

  • Public records
  • Derogatory credit
  • Changes to your accounts
  • Security or fraud alerts
  • Address changes
  • Lost or stolen card notifications
  • New accounts opened
  • Credit inquiries
  • Balance changes
  • Credit limit changes
  • Credit usage changes
  • Credit score changes

While the free credit monitoring service will alert the user the occurrence of any of these events, the alerts are only available on Credit Sesame website, not sent via email or other means. This means that if you don’t log into your account every often, you won’t be able to notice these events even though they have already been recorded. I signed up for a similar service from Credit Karma a while ago, and I never got any email alert either. The good news is that the credit monitoring service has been integrated into Credit Sesame’s mobile app, so I don’t really have to use the website to see my alerts.

Related: Credit Sesame vs Credit Karma

Of course, there are plenty of paid credit monitoring services out there if you choose to pay for it. For me, I like free stuff better :)

Credit Sesame Free Experian Credit Monitoring Service allows users to monitor events in their credit reports which could negatively affect their credit scores and detect fraudulent activities. Credit monitoring is performed on a daily basis. Credit Sesame is free and users can also receive free credit score from Experian.

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