New Analysis Shows Consumers Missing $1,201 of Credit Card Savings Over 3 Years

New credit card analysis conducted by Credit Sesame reveals that consumers are missing out on credit card savings despite numerous services available to help them. The study analyzed over 1.6 million existing credit card accounts and found two distinct groups of cardholders—those interested in saving money through the best rates and those interested in the best rewards program offers:

•     69% elected to save money via a card with a lower interest rate
•     Annual potential savings for those electing lower interest rates: $340
•     Annual potential savings over 3 years ($1,021)
•     18% elected to earn cash back and other rewards features
•     Annual potential earnings for those electing rewards cards: $79

Because choosing the right credit card can be complicated but shouldn't be, Credit Sesame also announced the launch of its credit card matching service that will help consumers find the card that's best for their financial situation. The new service takes the guesswork out of finding the right credit card by analyzing the consumer's existing financial profile, goals and credit score to provide credit card recommendations best fit for their individual needs.

With post-holiday spending and consumer credit card debt reaching $801 billion dollars according to Federal Reserve data, it's more important than ever to have the right card for your wallet.

“Unfortunately, many consumers are leaving money on the table by using credit cards that are simply not a good fit for them,” said Credit Sesame founder and CEO, Adrian Nazari. “Our goal is to make credit cards and personal finance choices simple -- to save consumers time and money – and empower them to make smart financial decisions, tailored to fit their individual finances and lifestyle.”

Credit Sesame's new feature also allows consumers “to stay in the know” with customizable alerts on new opportunities when a credit card matches the consumer's profile. Whether consumers are seeking to:

•     save with a low interest rate or a 0% balance transfer
•     a secure card to build credit, or
•     add a new rewards card option to maximize cash back, miles, or points –

Whether you are looking to save on interest or maximize credit card rewards, the new credit card market place makes it easy to choose the right card. Here's how it works:

1. Set Credit Card Goal. Credit Sesame users login to their account and set goals to either save money on existing cards, maximize rewards, earn cash back or build credit.

2. Get Personalized Advice. Credit Sesame will analyze hundreds of offers daily and alert you with the right credit card when it finds a match.

3. Save. Using bank rate analytics, Credit Sesame will identify how much you can save before you decide to apply.

Credit Sesame offers an entire array of credit card options from all major providers and networks such as Discover, American Express, Chase, Citi and more, customizing recommendations to fit the consumers' needs and save them money.

The addition of credit cards to the existing mortgages and consumer loans products on Credit Sesame now gives users a complete form of guidance for assessing, improving and leveraging their personal credit for maximum financial gain. Credit Sesame provides users with free credit score, personalized credit analysis and monitoring of the market to spot products, offers and trends that could be used to identify saving opportunities.

Want to check your credit on the go? Get the Credit Sesame iPhone™ App! The Credit Sesame app allows you to easily and securely access your free credit score, manage your credit, mortgages and loans, all in one place; understand your financial footing, and save money by making smarter financial decisions, based on personalized advice.

Available for download in the iTunes store, the Credit Sesame app only takes two minutes to sign up, without any paid subscription or monthly fee — simply no strings attached.