Secured Card Terms of Use

Secured Card Terms of Service

Last Updated on March 19, 2021

The Terms of Service/Agreement

These Terms of Service represent an agreement between you and Credit Sesame.

You should read this document along with Credit Sesame’s Privacy Policy and Community Federal Savings Bank’s (“CFSB”) Cardholder Agreement, which you can access at www.sesamecash.com/legal. To the extent any provision of these Terms of Service conflicts or is inconsistent with the Cardholder Agreement, the Cardholder Agreement shall control to the extent of that conflict or inconsistency.


What Is the Secured Card?

Credit Sesame is the servicer for your Secured Card (“ Secured Card”), which is a Mastercard-branded secured credit card issued by Community Federal Savings Bank. Credit Sesame provides administration and operational services to support your Secured Card and the associated credit account (“Secured Account”). The Secured Card is a secured credit card, which means that you will be required to hold a security deposit account (“Security Account”) with Community Federal Savings Bank and pay off the balance on the card in full every month. The Security Account will secure the debt you incur while using the Secured Card.

How to Contact Credit Sesame

For questions about these Terms of Service or your Secured Account, you can contact Credit Sesame by calling 1-877-751-1859, by mail at Secured Card, 444 Castro St., Suite 500, Mountain View, CA, 94041, or by visiting www.sesamecash.com.

Your Security Deposit Is Held at a Bank and Protected by FDIC Insurance

The money you add to your Security Account is held in an account at Community Federal Savings Bank.  The money in your Security Account is insured up to $250,000 by the Federal Deposit Insurance Corporation (“FDIC”).

Description of the Secured Card

Your Secured Card can generally be used wherever Mastercard credit cards are accepted, provided that you have sufficient credit available to make the purchase and your account is not in default.  However, the Secured Card will be issued only in electronic format and can be loaded into any digital wallet.  If a merchant requires that a physical card be presented at the time of purchase, you will not be able to use the Secured Card.  You will not be able to use the Secured Card for cash advances or to withdraw cash from an automated teller machine (“ATM”).  When your Secured Card is virtually issued, you must activate the card by setting up a Personal Identification Number (“PIN”).

To use your Secured Card, you must make a deposit of at least $10 but no more than $3,000 to your Security Account by transfer funds from your Sesame Cash Account or by direct deposit/automated clearing house (“ACH”) transfer.

For additional information on the Secured Card, please see the Cardholder Agreement.

Your Secured Card should work abroad at locations that accept MasterCard, with the exception of the following locations: Afghanistan, Cuba, Eritrea, Guinea-Bissau, Iran, Iraq, North Korea, Somalia, South Sudan, Sudan, Syria, Yemen and the Crimea region of Ukraine.

Your security deposit does not earn interest.

Getting Information About Your Transactions

You may check your transaction history, balance and available credit at any time on the Credit Sesame Mobile App or by calling us at 1-877-751-1859. We will also provide you with monthly statements (available via the Credit Sesame Mobile App) that will reflect all transactions through the billing cycle, as well as your charge limit, balance, and other important information. Additional information about using your Secured Card is located in the support section of our website.

Card Loss and Unauthorized Transactions

Please keep your Secured Account information and PIN safe at all times. If you think someone else may be using your Secured Account information without your permission, please freeze your Secured card within the Credit Sesame Mobile App and contact our Customer Service team at 1-877-751-1859 immediately. For disputed transactions you must provide a written notice to sesamecash@creditsesame.com that includes your name, account number, the dollar amount of your suspected error, why you believe it is an error, type of unauthorized transaction(s) with the date(s) and amount(s) of error. If we reverse unauthorized transactions, you will help us investigate, pursue and get reimbursement from the wrongdoer. Your help includes giving us documents in a form that we request.

Your liability for unauthorized transactions processed on the Mastercard network is zero ($0) dollars if you exercised reasonable care in safeguarding the Secured Card from risk of loss or theft, and, upon becoming aware of such loss or theft, promptly reported such loss or theft to us by calling our Customer Service team at 1-877-751-1859 (the “Mastercard Zero Liability Policy”). The Mastercard Zero Liability Policy is subject to change without notice and changes made by Mastercard will automatically apply to your Secured Account.  This protection does not apply if we determine that you have been fraudulent or negligent in the handling of your Secured Card. These provisions limiting your liability also do not apply to any credit transactions that are not processed by Mastercard. See the section entitled “Your Billing Rights” in the Cardholder Agreement for more information concerning your rights and our responsibilities under the Fair Credit Billing Act and your potential liability for transactions that are not covered by this section.


The full list of charges are set out in the fee schedule provided separately and included in the Cardholder Agreement.

You may have to pay other costs, taxes, or charges in relation to your Secured Account from other financial institutions or entities. For example, other banks may charge you a fee for making payments to your Secured Account.

Sharing Your Information

By accepting these terms, you agree to allow Credit Sesame to use your information to make and receive payments on your Secured Account. If you would like us to stop using your information to make and receive payments on your Secured Account, you must close your Secured Account. However, even if you close your Secured Account, Credit Sesame may keep your personal data and use it where permitted by law in accordance with our Privacy Policy. In addition, you agree to allow Credit Sesame to disclose and share your information with third parties as required to process your requests and transactions, and with companies providing related services, as permitted by law. Please ensure that you review our Privacy Policy and Community Federal Savings Bank’s Privacy Notice for additional details.

How Credit Sesame Will Contact You

Credit Sesame may contact you in English via the Credit Sesame Mobile App, or through your email, phone, mobile app instant notifications, and mailing address. Please let us know of any changes in your email, phone, or mailing address.

Closing Your Secured Account

You can close your Secured Account at any time by calling Credit Sesame at 1-877-751-1859 or chatting with a customer service representative in the Credit Sesame Mobile App.

You must pay any remaining balance before closing your Secured Account. Once the Secured Account is closed, you will no longer have access to your Secured Account and your Secured Card will not work. Any remaining funds in your Security Account after the Secured Account is closed will be transferred back into your Sesame Cash account. In the event that your Sesame Cash account has been closed the funds will be transferred in accordance with the Sesame Cash Cardholder Agreement.

You are required to maintain a Sesame Cash account in order to obtain and maintain a Secured Account.  If your Sesame Cash account is closed for any reason, your Secured Account will also be closed.  In addition, Credit Sesame may close your Sesame Cash account for any reason, including if we believe you have:

  1. broken the terms of this Terms of Service, or any of the other related agreements;
  2. violated the law or attempted to violate the law;
  3. put Credit Sesame in a position where it might violate the law;
  4. provided false information at any time; or
  5. committed fraud related to your Secured Account or Sesame Cash account or with the use of your Secured Account or Sesame Cash account.

How to File a Complaint

If you have a complaint regarding your Secured Card, please contact us at 1-877-751-1859, and we will do our best to address the problem. You may also file a complaint with the Consumer Financial Protection Bureau (“CFPB”). For more information, you can visit the CFPB’s website.

Choice of Law

These Terms of Service are governed by the laws of California.


Subject to all other terms of this Terms of Service, and to the extent not prohibited by law, you agree that any claim of any kind arising from or related to this Terms of Service or the use of the Secured Card against us, our affiliates, or the parties with whom we contract in order to offer the Secured Card and related services (i) shall be resolved by final and binding arbitration conducted by the American Arbitration Association (“AAA”) under its Consumer Arbitration Rules in your state of residence at a location that is reasonably convenient for both parties and (ii) shall not be brought through class or individual litigation proceedings. If such a claim is advanced by class proceeding by any other person on your behalf, you will opt out of, or not opt into, such proceedings as circumstances dictate.

Changes to this Agreement

These Terms of Service are available at www.creditsesame.com and through the Credit Sesame Mobile App.

Credit Sesame may make changes to the Terms of Service at any time and for any reason. If we make changes that result in higher fees or greater consumer liability, we will notify you in writing about these changes by mail or email (see “How Credit Sesame Will Contact You” above) at least 45 days before we make the change. If you do not agree to these changes, you can let us know and we will close your Secured Account. If we do not hear from you, we will assume that you agree to the changes we have made.

Limitation of Liability

Except as otherwise expressly provided in this agreement or as otherwise required by applicable law, we, our affiliates, and the parties with whom we contract in order to offer the Secured Card and related services are neither responsible nor liable for any indirect, incidental, consequential, special, exemplary, or punitive damages arising out of or relating in any way to the Secured Card, any products or services purchased using the Secured Card, or these Terms of Service.

Credit Sesame
444 Castro St., Ste 500
Mountain View, CA, United States 94041
Attention: Credit Sesame Secured Card Terms of Service.