NerdWallet | How Secure is NerdWallet? (2024)

FAQs

NerdWallet | How Secure is NerdWallet? ›

At NerdWallet, we take your security seriously. We take our responsibility to protect your confidential information seriously, and use 128-bit encryption to protect your data. You can learn about NerdWallet's security practices here.

How does NerdWallet protect my personal information? We use industry-standard security controls, such as cryptography, to protect your personally identifying information. And our partners TransUnion and Plaid do the same. How does NerdWallet get my credit score?

We use certain physical, managerial, and technical safeguards that are designed to protect the integrity and security of your information. We cannot, however, ensure or warrant the security of any information you share or store with us through the NerdWallet Platform and Services, and you do so at your own risk.

Checking your credit score on NerdWallet only prompts a soft inquiry on your credit report - not a hard inquiry - and will never impact your score in any way, no matter how often you check it. This article includes more detail about this: Does Checking My Credit Score Lower It?

Is NerdWallet Safe to Use? Yes, NerdWallet is safe. NerdWallet supports multi-factor authentication (MFA) in addition to other industry-standard security controls. It encrypts your financial data (128-bit encryption) for enhanced safety.

NerdWallet does not sell your account information to third parties, nor do NerdWallet employees have the ability to see or access your account details.

NerdWallet is entirely free for our account holders. So how do we make money? Our partners compensate us.

WalletHub is the only app that offers 100% free credit scores, WalletScores and full credit reports. Get personalized tips to help you save money and improve your WalletScore and credit score.

Consider whether your primary concern is tracking your finances or managing your credit score. Credit Karma is likely the best option for you if your primary concern is managing or improving your credit score. If your primary concern is budgeting and finance tracking, NerdWallet is likely the better choice.

Is NerdWallet a good site? ›

Yes, NerdWallet is legitimate. It is a popular personal finance website that has helped many people make better financial decisions. More than 77,000 consumers have given the NerdWallet app a 4.8 out of 5 star rating, and the website provides financial guidance to more than 100 million consumers each year.

Tim Chen is the founder and CEO of NerdWallet. A former hedge fund equity analyst specializing in payment processing companies, credit card networks, and technology companies, Tim also worked as an equity research analyst at Credit Suisse First Boston. He is a graduate of Stanford University with a degree in economics.

Their business model relies on affiliate commissions from consumers signing up for products and services from financial institutions that are written about in NerdWallet content.

Don't ever give out your Social Security number or any other personal information to someone you don't know who initiates contact with you by phone, e-mail or in person: For example, if you receive an e-mail that claims that you must provide personal information to claim a refund from the IRS, it's a scam.

Identity theft is a concern, and you should carefully guard access to this number. Scammers could ask for SSN as part of a fake job application. Even an employer with a legitimate need for your SSN (for a background check, for example) should not collect this on an application form.

Social Security number

Sullivan says your Social Security card and any identification or documents that include your Social Security number are perfect examples of what not to keep in your wallet.