Money Scams, and Renting Credit Card Tradelines for Cash

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 12 June 2023

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

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 [email protected]. Timestamps: This Week in Your Money segment: 0:00 - 08:06 Money Question segment: 08:07 - 26:05 Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Prime Video brings thrilling entertainment.
0:03.0	Watch Heavyweight Detective Breacher, Season 3 included with Prime.
0:07.0	Exactly how much danger is this job putting me in.
0:10.0	Treat yourself to the lovably chaotic Bridget Jones mad about the boy available to buy.
0:15.0	Did you have sex? Did you have sex?
0:17.0	Did you have sex last night?
0:19.0	Yes! And it was amazing!
0:23.0	Whatever you're into, it's right here.
0:25.3	Prime Video.
0:27.1	Click or tap the banner to find out more.
0:30.6	Your credit report can help you borrow money,
0:33.2	but what if you could use your credit report to earn money?
0:36.5	Would you do it, even if it was a little sketchy?
0:52.1	Welcome to NerdWallet Smart Money Podcast, where you send us your money questions and we answer them with the help of our genius nerds.
0:58.3	I'm Liz Weston. And I'm Sean Piles. Listener, I have a question for you. What are you thinking about? Money-wise, I mean, are you wondering how to buy a house in a still expensive market? Or do you want to get serious about saving for retirement
1:12.2	but aren't sure how? Whatever your money question, the nerds have your back. You can leave us a
1:17.4	voicemail or text us on the nerd hotline at 901-730-6373. That's 901-730 N-E-R-D.
1:28.4	You can also email us at podcast at nerdwollet.com.
1:31.8	This episode, Liz, Sarah, and I answer a listener's question about making money from your credit report.
1:37.8	But first, in our this week in your money segment, Liz and I are talking about the scams you need to watch out for now.
1:44.7	Yes, because scammers work hard, but the nerds work harder. So we're going to give you
1:49.4	the scoop on how fraudsters are attempting to strip you and your loved ones of your money
	...

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