Credit Sesame Mobile App
- Credit Score:
- Credit Sesame
Credit Sesame Android Mobile App allows you to check credit score for free. While the free credit score lets you track changes of credit score over time, the score is only updated once a month, which limits the app's usefulness in monitoring credit score changes. However, as a service that is provided to its customers for free, Credit Sesame can help you managing your credit score.
These days, I am relying more and more on my phone for things that are beyond reading news, tweeting, and updating my FB status. I also use mobile apps for lots of finance related tasks such as mobile banking, checking credit card transactions and balance, paying bills, and, of course, trading stocks. At the same time, I am always on the lookout for new apps that could make managing my finance easier. So when Credit Sesame, one of the free credit score providers that I have discussed before, launched their mobile app a few weeks ago, I installed the app and tried it out. But I have to say I am not very impressed.
I like the idea of getting credit scores for free, even though the scores are the FICO score that is widely used by creditor to evaluate your credit worthiness. For me, it is more important to track the changes and trend of my score than the absolute number of the score itself. And this is precisely the reason I signed up with both Credit Karma and Credit Sesame years ago (see my Credit Karma and Credit Sesame comparison post for details about the two) and have been using them to monitor my credit score for free since.
For Credit Karma, I had my complains when I wondered whether Credit Karma is useless. Basically, from the day I started using it, my score on Credit Karma only fluctuated within a very tight range, something like 20 points, when I had a number of hard pulls due to mortgage loan, refi, and new credit cards accounts during the same period of time. To me, these activities should have had a bigger impact on my score, but that wasn’t shown on my score from Credit Karma and that bothered me a little (to be fair, I haven’t checked my FICO score for years, so I don’t know whether it also remained steady or not). For Credit Sesame, the problem seems to be that my score doesn’t get updated very often.
As you can see from the screenshot, which I took on September 4, 2012, my credit socre was last updated almost a month ago on August 6th, even though the screen was refreshed and other parts shown updated info. I didn’t use Credit Sesame’s website that much, so I don’t know if this is a problem just for the mobile app or that Credit Sesmame only updates score once a month. Nonetheless, in my opinion, the whole point of providing a mobile app for customers is that they can get updated info anywhere at any time. If the score is only updated once in a month, then I don’t really see the need of using the app at all. For me, I am not really interested in how much money I could possibly save by refinancing my mortgage or getting a new credit card with lower interest rate using their money saving advice, which is always up-to-date.
I am not sure whether it’s a technical or policy issue to only update the credit score every month. My main concern is that if I want to use it as a free credit monitoring service, I would like to see updated information every time I refresh so that I can detect any abnormal change of my score. As a free service, I don’t expect it works the same way as other paid credit mornitoring services. But I do expect it to be usefull in order for me to keep using it. The once-a-month updating, however, reduces its usefullness to me.
Maybe I will just use the app once every month
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