Is NerdWallet Safe?

If you use or plan to use NerdWallet, you need to know: Is NerdWallet safe? 

Below, we explain whether NerdWallet is: 

• Safe to use. 
• Good for privacy. 

We also give some steps you can take to improve both your safety and privacy when using this online service. 

What Is NerdWallet?

NerdWallet is a personal finance company that provides financial tools, information, and resources to help consumers make informed financial decisions. 

Among the services Nerdwallet offers are comparisons of different credit card options (based on rewards, interest rates, fees, and credit scores), loans (personal, student, auto, and mortgages), and accounts (savings, checking, and certificates of deposit).

NerdWallet also has financial calculators, articles, and product reviews to further assist users, with expert opinions offered in most situations.

Designed to be accessible, easy to navigate, and comprehensive, NerdWallet positions itself as a valuable resource to those looking to improve their personal finance knowledge and find the best financial products.

However, according to some users, NerdWallet might be biased. This is because Nerdwallet makes money from the products and services it features. In its advertiser disclosure page, NerdWallet says: “Our partners compensate us. This may influence which products we review and write about (and where those products appear on the site).”

They say this “in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services.” You can see a list of their partners here. 

Is NerdWallet Safe?

Yes, NerdWallet is generally considered safe to use. 

According to the NerdWallet site, it uses cryptography to protect all user data. Its financial partners (TransUnion and Plaid) do the same.

The company also says it uses “certain physical, managerial, and technical safeguards” to protect your information, though it doesn’t describe these safeguards in detail. 

In its privacy policy, NerdWallet notes that it can’t “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.”

You can unlink your accounts from NerdWallet at any time. You can also deactivate your NerdWallet account directly from your dashboard. 

NerdWallet received a security rating of 855 out of 950 from security website UpGuard. The ratings are based on hundreds of checks across five categories: website security, phishing & malware, brand & reputation, email security, and network security. 

Is NerdWallet Private?

Depends on your definition of “private.” 

NerdWallet has a detailed privacy policy that outlines how it collects, uses, and protects user information. It is apparently committed to not selling personal information to third parties and notes that it does not store third-party log-in data.

That said, the data NerdWallet collects about users can be extensive and includes public data from social media platforms and real estate databases. It can also collect information related to your employment history, credit score, location data, survey responses, and more.

NerdWallet will notify users if it makes any material changes in how they treat user information. 

NerdWallet’s privacy policy has not received an aggregated grade from Terms of Service; Didn’t Read, a project that rates internet services’ terms of service and privacy policies. 

However, the project notes the following concerns about NerdWallet: Users must provide identifiable information, accounts can be deleted without prior notice or reason, users waive rights to a class action suit, and users are tracked via web beacons, tracking pixels, or other fingerprinting techniques.

How to Improve Your Safety and Privacy on NerdWallet

Follow the below steps for a safer and more private experience on NerdWallet. 

• Limit personal information sharing. Only provide necessary information. Avoid entering sensitive personal details unless absolutely required.
• Browse anonymously. Use NerdWallet’s comparison tools and resources without creating an account.
• Review privacy settings. If you create an account, review and adjust your privacy settings to limit the information shared with NerdWallet.
• Two-factor authentication. Enable two-factor authentication to add an extra layer of security to your account and prevent unauthorized access.
• Verify links. NerdWallet often links to third-party financial institutions. Ensure these links are legitimate by checking the URL and looking for “https” to confirm a secure connection.
• Read third-party policies. Review the privacy policies of any third-party sites you visit through NerdWallet to understand how your data will be handled.
• Clear your browser data. Regularly clear your browser’s cookies and cache to remove stored data that could be used to track your activity.
• Third-party sharing. Adjust your preferences to limit or prevent NerdWallet from sharing your data with third-party partners.
• Passwords matter. Use a strong, unique password for your NerdWallet account, and consider using a password manager to keep track of your credentials.