Credit Sesame Launches – Offering a New Way For Consumers to Save Money on Loans

by News Guy on November 29, 2010

New Tool Finds Homeowners up to $600 a Month in Savings

SUNNYVALE, Calif. – Credit Sesame (www.creditsesame.com), a free online tool that provides the best way for consumers to save money on debt and loans, is now open to everyone with today’s public beta launch. This new personal finance tool gives users a complete picture of their existing debts, home loans and outstanding balances, and uses a powerful loan analytics engine to evaluate that picture against the most current lending products on the market for savings opportunities. Since becoming available to private testers in September, Credit Sesame currently manages $250 million in loans and has generated more than $18 million in lifetime savings for its users. Credit Sesame allows users to:

  • Instantly view their credit and debt all in one place
  • Monitor and track key financial information like their credit score, home value and debt-to-income ratio
  • Set alerts that instantly notify them when a lending product becomes available that will lower their monthly payments and improve their existing debt situation

To help people lower the cost of their debts, Credit Sesame uses the same kind of financial analytics that banks use to optimize profits on their own lending products. Credit Sesame’s technology looks at a person’s entire debt portfolio holistically – evaluating how their loans are doing by themselves, and how they could be working better together. The analytics engine creates 5,000 scenarios with thousands of lending products to help each user find the three best pre-qualified solutions.

“We find homeowners as much as $600 a month in savings through restructuring, refinancing and new pre-qualified low interest loan offers,” said Adrian Nazari, CEO and founder of Credit Sesame. “That’s $7,200 of yearly savings. If that money was put toward debt repayment, imagine how much faster that loan would be paid off and how much money would be saved. The opportunities are out there – and Credit Sesame gives the consumer unprecedented insight into just how they can save.”

Free and Easy-To-Use Credit & Debt Management Tool

It only takes a few minutes to register for Credit Sesame’s easy-to-use personal finance tool. Once the user profile is complete, Credit Sesame gives insight and transparency into customer’s current debt, credit profile and savings opportunities. Here’s how it works:

 

  • Easy as 1-2-3: Set up a profile and give permission to Credit Sesame to build a free credit portfolio
  • Security is a priority: Credit Sesame is even safer than online banking – using the same security technology and encryption methods as banks and financial institutions
  • Breadth of loans: Access the most current lending products from major U.S. banks in the market
  • Instant applications: Apply for prequalified loans online and track the progress of the application along the way
  • Personalized alerts: Set customized alerts for personalized loan parameters and receive real time notifications for lending products that meet those requirements
  • Key financial goals: Set additional goals and receive recommendation for the best loans available – whether for a home loan, refinancing a mortgage, borrowing money or paying down debt
  • “What if” calculator: Explore different credit and debt scenarios with Credit Sesame’s “what if” calculator to answer questions about potential savings or loans based on changes to a user’s financial situation

 

For more information on Credit Sesame, please visit www.creditsesame.com.

About Credit Sesame

Credit Sesame (www.CreditSesame.com) is a free online personal finance tool that provides the best way for consumers to save money on loans and credit needs. Our analytics engine automatically and securely reviews all of your debt, home loans, assets and available credit, then evaluates thousands of combinations of lending products to bring you unbiased, personalized recommendations for savings. Once you sign up, Credit Sesame keeps working for you, delivering a free monthly credit score and instant alerts when better savings opportunities become available.
We put the power to make right decisions about your loans and debt into your hands – information that was previously available only to banks. To help consumers lower the cost of their debt, Credit Sesame uses the same kind of powerful financial technology that banks use to optimize profits on their lending products. From first login, CreditSesame.com saves the average homeowner up to $600 per month. For more information visit www.creditsesame.com or join us on Facebook and Twitter.

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