Is NerdWallet a Scam? Don’t Be Too Surprised!

Is NerdWallet a Scam? Since you have found your way here, you probably already have an idea what NerdWallet is all about. Well, what if I tell you that you don’t?

Lucky you, today you will get to know the truth behind NerdWallet. We’re going to talk heads and tails as I speak to you all the sides there is to NerdWallet.

Don’t be too surprised and don’t say I didn’t warn you!

So, is NerdWallet a scam?

NerdWallet Review

Product Name: NerdWallet
Founder: Tim Chen
Publisher: NerdWallet, Inc.
Logo: nerdwallet logo
Product Description: Personal Finance Site
Best For: Big spenders
Recommended: YES

What is NerdWallet?

Hey, those shoes look nice, don’t you think? Do you want to buy it? Go on. Nobody is stopping you.

Oh, wait! Do you hear that? Do you hear the empty sound of your wallet crying for you to leave it alone? Well, that’s just too bad.

Do you have some trouble spending? Well, we all do. NerdWallet founders Tim Chen and Jacob Gibson have figured out that we are all in need of some financial assistance.

Good news for you! NerdWallet is available for people like us whose math skills do not function when we have money in our hands. NerdWallet is a website, also available in the app, educating us to make smart choices with our finances.

Back in 2009, NerdWallet was conceived in San Francisco, California with the purpose of letting people understand different financial situations so that they can choose the best options and decide intelligently regarding their finances.

Their mission is to provide you tools and advice which will make it easy for you to get out of the abyss of debts, and choose the best products and services relating to your finances. Moreover, NerdWallet has your back as you buy a new house, save for retirement, and plan for your major life goals.

It wasn’t always like that, though. Chen and Gibson originally offered it to the public as a web application that compared bank-issued credit cards.

From inception to today, it grew to a large number of 350 employees with a revenue of $100 million as of 2017 and has developed a wonderful reputation in the field of personal finance.

How Does NerdWallet Work?

NerdWallet is made possible through partnering with lenders, financial institutions and others. They also function as an affiliate marketing company since they get their income when you apply for or receive products from their partners.

This personal finance tool works by comparing varying services offered by banks, insurance companies, and other financial institutions. Through this information, you are able to make more informed and clever financial decisions whatever the situation you are in.

nerdwallet finance

Their team of ‘nerds’ offers objective advice, helpful tools and expert info just for you.

NerdWallet gives you a ton of recommendations of the best credit cards out there that matches your spending habits perfectly and ways on how you can increase your credit card score.

You also get comparisons of a ton of options with the use of smart calculators and simulators.

Plus, even when you have an out of this world question about money, their team of ‘nerds’ are ready to give you answers to satisfy your needs and curiosity.

If you would take a look at their website, you’d be able to find answers right away because you literally can just scroll through the categories based on your daily financial needs. Smooth!

What Does NerdWallet Have to Offer?

nerdwallet services

Let’s take a look at the services they offer to NerdWallet users.


Concerned about which bank account is suitable for your spending habits? Don’t worry! NerdWallet has reviewed all sorts of bank accounts from a savings account, checking account, credit unions, big banks, online and mobile banks to brick and mortar banks.

Credit Cards

NerdWallet compares all the available credit cards out there and chooses the best one for you depending on your needs whether it be for travel, rewards, or balance transfer. This is made possible by processing the information you give out on your spending activities. They even have a list of best credit cards and review them on behalf of everyone so we don’t have to do all the work.


Want to get away from that dump you are living in and move into a better and brighter home? Well, NerdWallet wants to help you with that by finding you the best mortgage options for you to find the best home. The mortgage options you can choose from include 30 year fixed mortgages, 15 years fixed mortgages and many more.


Investing is a chore. For some of us, it can be daunting. NerdWallet covers all the basic investing and financial management from all the top-notch brokers, traders, and online brokers.


Loans and Insurance

We all know that when it comes to our health, emergencies, and debts, we have to think very carefully about it first and take it into massive consideration. NerdWallet totally understands you so they have selected the finest loans and insurance choices all available for your financial needs.

Moreover, NerdWallet also covers other daily expenses such as your shopping, utilities, taxes and even university matters.

The best thing about these is that they are available to you for free! Yes, you read that right. F-R-E-E! You don’t have to worry that this personal finance tool will suck the life out of your card when it already has no credit. Sorry, not sorry.

Should You Create an Account with NerdWallet?

I mean, signing up is free, so what’s to lose? You can use the website even if you do not create an account. But, if you do choose to sign up, they’ll help you in more ways they possibly can. You are at an advantage than non-users. You can up your credit score, track your spending, and uncover other smart ways to save.

When you create an account, you are giving them the right to know your credit score each week. It is reasonable since you get to see over time how your credit score all adds up. However, it doesn’t necessarily mean that your credit score will increase when you sign up!

Reasons Why NerdWallet Rocks

You Need It? You Got It!

It’s so awesome that whatever financial decision you have to make whether be it travel, shopping, taxes, banking, really just everything, NerdWallet consistently helps you in your choices all throughout. You wouldn’t even need to pay for an expensive financial advisor from some company. You have all these services for free!

Real Financial Advisors

NerdWallet also offers you the option to ask them questions on their website. What’s great here is that the answers you will hear are from the minds of real and actual financial advisors. Surely, this will give you a sense of security and certainty! You can even schedule a consultation with an advisor if you want to know more! Well, don’t mind me if I do!

Convenience at Your Fingertips

You will see cellular phones everywhere. Everybody uses phones nowadays. Even babies use it. So, in this fast-paced world, it is best to keep up your pace with it. NerdWallet’s services are not just available on desktop, but also on Apple and Android devices. Whenever you are in a pickle, you can just pull out your phone and consult NerdWallet!

nerdwallet convenient

Reasons Why NerdWallet Sucks

NerdWallet does not have a lot of complaints on BBB. In fact, they only have one complaint there. However, there are inevitably unsatisfied clients. And what you will see will have you scratching your head. Just like what I said before, do not get surprised.

Don’t Give Out Your Personal Information!

One client indicated that NerdWallet just misleads consumers into believing that they actually use your personal information for your sake. Your information will just be taken in and then they just leave you hanging.

nerdwallet review

is nerdwallet legit

Rude Customer Service

Everybody hates rude people! Especially when the jobs of these people is to help you in the first place. A client named Paula reached out to them with a concern, but she only received nothing but hostility.


Spam Emails and Unwanted Credit Card Offers

It seems that the information you give out to them is useful for something. When you sign up and give your information, it seems that you will be bombarded with an average of 80,000 credit card ads, calls, and mails whether it be physical or email. I always wondered how they give financial services for free and without charge. They are surely sponsored by their partners, but you can’t blame them though. NerdWallet circulates its mission and goals on money. So, of course, they need money.

So, Is NerdWallet a Scam?


This personal finance tool is one of a kind. You won’t see any other personal finance tool like this in the market. It covers literally everything in your daily spending, from your mortgages, investing, banking, credit cards, loans to insurance.

If you want to pay off your debt, make smart decisions regarding heavy life choices and get the most out of your money, NerdWallet would have to be your best.

Let’s just make something clear, I do not work for NerdWallet so you can only expect nothing but unbiased opinions also based on the insights of others.

The verdict, is NerdWallet a Scam? No. NerdWallet is not a scam. It is legitimate and you can definitely put your trust in NerdWallet.

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