What the CARES Act says about 401(k)s
Summary Due to the coronavirus, you can withdraw up to $100,000 from your 401(k) without a penalty. You can also borrow up to $100,000 and pay yourself back with interest. Withdrawing or borrowing from your 401(k) should still be a last resort. You have probably heard many times, “do not touch your 401(k).” While it […]
Recent Questions From Our Live Twitter Q&A
We recently held our first live Q&A on Twitter to answer your questions about navigating finances during this challenging time. We received a lot of great questions about everything from the stimulus checks to refinancing mortgages, so we wanted to share a summary here for those that have similar inquiries. We are planning to host […]
Tips for Protecting Your Credit Score During a Time of Uncertainty
Summary If you are seeking payment deferments, make sure you get agreements in writing from your lenders. Protecting your credit score and credit report is your responsibility. Monitor your credit report on a regular basis to make sure there are no errors. Monitor all three reports from Experian, Equifax, and TransUnion. If you are concerned […]
New Credit Sesame Data Shows Impact of Economy Amid COVID-19
Summary Study found that 71% of customers changed major life plans due to COVID-19 87% of customers changed spending habits One in five lost their job in the past 30 days A new Credit Sesame survey of more than 1,000 Credit Sesame customers in early April 2020 found that the coronavirus has forced 71% […]
Are You a Small Business Owner Impacted by the COVID-19 Pandemic?
Summary Keeping employees on payroll can potentially lead to a forgiven loan. Recommendations for small business owners to help stay financially afloat during this time. Our partner, Fundera can provide guidance on how to navigate the impact of COVID-19 on your business as well as access to SBA Paycheck Protection Program funding and various other […]
Protecting Your Credit and Your Identity During COVID-19
Summary Phishing is becoming more sophisticated and more frequent. Watch out for red flags, such as being asked for your personal details over the phone. Proactive steps to protect your identity include shredding documents with personal information and creating strong and different passwords for each account. While phishing scams (when hackers pose as a trusted […]
Do’s and Don’ts of Budgeting During a Crisis
Summary No one knows how long this pandemic will last, so it is important to plan for the long term with regard to your finances. Overview of steps to stay afloat during times of financial uncertainty. While there is a lot of uncertainty right now regarding how long this pandemic will last and the long-term […]
Free Financial Counseling Services
Summary You may want to consider a financial or credit counselor to assist with your finances during this challenging time. Do research to determine which organization to contact. Some organizations offer free services. We understand that this is a difficult time and that you have lots of questions about your finances. You may want to […]
What You Can Do If You Lost Your Job as a Result of the Coronavirus
Last updated: April 20, 2020 at 1:23 pm PT *Update: April 17, 2020: Amazon has announced that they are hiring 75,000 more people than previously reported. Walmart has also announced they are adding 50,000 more jobs than previous reported. The numbers below have been updated to reflect this change. Summary: If you think you may […]
What You Should Do About the New Low Interest Rates
Updated March 25, 2020 to include home and auto loans. The Federal Reserve has cut interest rates to nearly zero, leaving many questions about the impact on consumer debt. Learn more about the potential impact on your home loans, credit card balances, student loans, auto loans, and more. The Federal Reserve cut interest rates to […]
If you’re receiving financial relief under CARES Act, this one step can help protect your finances before programs expire
This content is not provided or commissioned by the issuer. Opinions expressed here are author’s alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer. Summary: If you are looking for temporary relief, you must first contact your lender first to discuss an agreement. Skipping payments without […]
Ways You Can Stay Financially Stable, Maximize Your Available Cash and Credit, Prepare for Emergencies, and Manage Your Credit
We have compiled a list of ways to help maximize your available cash and credit during this time and prepare for emergency expenses. Tactics to consider stabilizing your near-term needs include: Ask your card issuer, bank or lender about temporary relief. One of the most effective moves you can make is to call the customer […]
Introducing Sesame Cash: The Next Generation of Personal Finance
I am proud to announce our launch of Sesame Cash, a free digital bank account as part of a new smart digital banking service to help you grow your cash and credit. It is the only bank account that rewards you with cash for improving your credit. Since I founded Credit Sesame 10 years ago, […]
The Closing Credit Score Gender Gap: 4 Takeaways for International Women’s Day
With International Women’s Day right around the corner, it’s important to acknowledge the unique obstacles women face in improving their financial health. Historically, women have seen unequal pay, higher debt, and lower credit scores. However, Credit Sesame analyzed data from the past four years to take a closer look at these factors, and there is […]
Your Annual Credit Report – The Credit Sesame Guide
When it comes to credit health and credit score management, one of the biggest topics many people ask about is their credit report. Your credit report is an important tool for when you want to make a number of important transactions, like getting a mortgage for a house purchase, getting approved for a new credit […]
