Money Scams, and Renting Credit Card Tradelines for Cash

Learn about how to avoid the latest money scams and whether it’s worth using your credit score to earn extra income.

This Week in Your Money (00:00 - 08:06): Sean and Liz discuss the latest financial fraud to watch out for, including Google Voice scams and AI-generated voice spoofing, and provide insights and advice on how to stay safe and avoid becoming a victim. They also recommend resources for staying informed and where to go if you get defrauded.

Today’s Money Question (08:07 - 26:05): Sara Rathner joins this episode to help answer a listener's question about whether they should use tradelines to earn extra income, and she discusses the ethical concerns of selling authorized user slots on credit cards. She also suggests alternative ways to build credit and discusses the importance of setting financial goals and being disciplined with the extra income you earn.

In their conversation, Sean, Liz and Sara discuss: how to avoid money scams; social engineering and identity theft; how tradelines work; credit score safety; credit card authorized users; methods for building credit; and ideas for approaching side hustles.

To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com.

Timestamps:

This Week in Your Money segment: 0:00 - 08:06

Money Question segment: 08:07 - 26:05

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