Credit-Building Finance Features : credit sesame

Credit Sesame is introducing a new credit-building feature that allows users to boost their credit scores and improve financial literacy over time.

When using this debit card, Credit Sesame automatically allocates an equivalent sum of money within the user’s Sesame Cash account. Subsequently, these allocated funds are used to settle the card’s balance at the end of each month. The company then proceeds to report these timely payments to the three prominent credit bureaus, namely Experian, Equifax, and TransUnion, to demonstrate that the user is reliable and financially responsible.

Notably, Credit Sesame does not perform hard credit checks, does not charge interest, and does not require a security deposit. Users must pay a $9.99 monthly subscription fee to use Credit Sesame, and a $3 inactivity fee is incurred if the service isn’t used within the first 30 days post-sign-up.

Image Credit: Suradech Prapairat