Credit Sesame has only been around for a little under a year, but they are already introducing a fun new way for consumers to interact with finance.
Let’s rewind. We know that finance and fun is not a common combination, but why not? Credit Sesame takes the perception that finance is a boring topic and flips it to interest and motivate.
Credit Sesame’s Credit Badges
Think about your credit score, now think about how you would feel if friends, family even co-workers and clients were able to see it. To some it may be a scary thought, to others a pride point.
The team at Credit Sesame has recognized how much can ride on a person’s credit score, that is why they have introduced the Credit Badges tool to help people display what kind of credit user they are.
The Four Badges:
Member Badge – This badge doesn’t utilize any data anyone who signs up for Certified Badges gets a membership badge.
Good Credit Badge – Your score is between 680 – 739. This means you are have been managing your credit well but you haven’t doing much more than paying your bill on time.
Excellent Credit Badge – You receive this badge when your score is higher than 740+ and your portfolio gets pulled in to see how you’ve been managing your investments and loans.
Guru Badge – This badge is definitely the highest honor. The Guru Badge is unlocked when you have excellent credit and an impeccable portfolio. This means Credit Sesame has scoured the internet and there are absolutely no payment plans or loans that you can be enrolled in that are more optimal than the ones you are currently using.
Credit Badges Reshaping Social Networking
Founder and CEO of Credit Sesame, Adrian A. Nazari, mentioned many reasons why showing/seeing credit standing could boost credibility. For example, popular site such as eBay and Amazon.com can showcase these badges to demonstrate buyers ability to pay for certain products.
Another example he brought up was with internet dating. “With 30% of marriages ending in divorce,” said Nazari referencing a University of Utah study, “knowing credit standing can be very valuable.”
The places this could be applied is endless, but don’t worry if your credit isn’t where it’s at. All badges are private until you decide to make them public. This new Credit Sesame feature adds a bit of competition as well as recognition for those who want to improve their credit.
As of now the company offers an HTML embedded code for you to share on Twitter and Linkedin and they are working to partner with large sites such as Amazon.com, eBay and Craigslist.
Who Is Credit Sesame?
Credit Sesame is a California-based company founded in January 2010. Although it’s a young company, Credit Sesame leverages analytics and other data to provide consumers a better understanding of their debt.