I recently signed up for Credit Sesame, which gives you free financial advice as well as a truly (no, really), a truly free credit score from Experian. There are absolutely NO strings attached and you don’t even need a credit card to sign up for their free service.
Today, my credit score is pretty high. However, not too many years ago, it was down in the low 600’s but I’m happy to say that after making on time payments, limiting how much credit I use relative to my credit availability, not applying for too much credit, and cutting back on any revolving credit use, my score according to Credit Sesame is 820!
Credit Sesame offers more than just a free credit score
But Credit Sesame doesn’t just stop at credit scores, after all, they’re just one aspect of your financial picture. They also run multiple (thousands) of different scenarios to see if one pops up that could possibly save you some cash. It all depends on your personalized goals and your preferred time horizon.
Unfortunately for me, there weren’t any scenarios that made sense for my situation once I correctly entered my mortgage interest rate. I’m glad to hear that I’m making good decisions but I was somewhat disappointed that there wasn’t something else I could do. Oh well.
The fact is, I’m getting very close to being 100% debt free (excluding my mortgage) and the only debt I carry is a few old student loans that are currently sitting at a 2% interest rate. Why bother to pay them off at that rate? Besides, my debt to income ratio, as analyzed by Experian is just 14% including my mortgage.
I wish Credit Sesame had been around longer!
When I was aggressively working to shed the massive amount of debt I had gotten in to, Credit Sesame would have been ideal. Their free credit scores, their multiple scenarios, their ability to analyze debt/income and make real, viable solutions would have probably helped me get my finances in order much faster.
Give Credit Sesame a try. You’ll find, as I did, that there is NO CREDIT CARD REQUIRED to use their service. They don’t offer “free trials” where you have to cancel your account and you always seem to forget. You’ll be able to set goals, run your own scenarios, and use their “What-If Calculator” to see how things would turn out with your scenarios without actually having to take the plunge.