NerdWallet Review: Are you facing problems in making financial decisions? If yes, then NerdWallet is the perfect choice for you for resolving all such issues that you are facing at the present date.
Well, most of you must have heard about NerdWallet, it is an American personal finance company that was founded in the year 2009. It mainly offers a website as well as an app whose main objective is to assist the users in making personal financial decisions.
Want to know more about NerdWallet? Read the following article until the end in order to know whether NerdWallet is the best choice for you or not. Here, with the help of this article, we are going to cover almost everything about NerdWallet. So, without wasting any time let’s get started….
Table Of Contents
- 1 About NerdWallet
- 2 Let’s Dig In Some History Of Nerdwallet
- 3 What Are The Products and Services That Nerdwallet Deals With?
- 4 How NerdWallet Is Helping Us?
- 5 NerdWallet Legit or Scam: Can We Trust NerdWallet?
- 6 Best mortgage lenders According To NerdWallet
- 7 Conclusion
NerdWallet is the personal Finance website designed for a millennial audience Interested in Making Smart money moves, It strives to Advise users on how to make sound and well-informed financial decisions. Unlike many other personal finance websites and applications, NerdWallet also home to a car insurance comparison tool that lets users compare Insurance Policies between companies. Nerdwallet is only the website that provides a Car Insurance comparison Experience. If You want to better understand Interest rates, Nerdwallet might be your first stop, with the site working like a Personal online Financial advisor. NerdWallet also helps you with the Car Insurance quotes comparison and it is also safe for Insurance comparison shoppers to use.
Let’s Dig In Some History Of Nerdwallet
Talking about the history of NerdWallet, it was founded in August 2009 by Tim Chen and Jacob Gibson, with a preliminary capital investment of $800. The first product of it was a web application that gave relative details about credit cards.
Afterward, it produced large extents of content for helping to increase its search engine results. On the other hand, Website traffic grew quickly in the year 2010. The website had up to 30 million users, by March 2014. The next year, it elevated $64 million in its first round of funding, at a projected valuation of $500 million.
In the year 2016, the company assimilated the retirement planning firm about life and NerdWallet was appreciated at $520 million. Later in 2017, the growth of the company started slowing down, leading to the layoff of 11 percent of its employees.
What Are The Products and Services That Nerdwallet Deals With?
The main objective of the company is to provide information that instructs users for making financial decisions. They do so by providing reviews as well as the contrast of different financial products, comprising credit cards, banking, investing, loans along with insurance.
In addition to that its website is directed mainly towards Millennials and offers some useful information on credit card selection, college loans, banking, mortgage loans, stock trading as well as insurance policies.
Later on, the company had also developed business relationships with eight other banks along with a dozen insurance companies, by May 2015. In give-and-take for new customers, allied banks pay NerdWallet a success fee. On the other hand, Co-founder Chen reported that the company turns out to be profitable by virtue of the fees it earned through corresponding users with financial products as well as services.
As we have already mentioned above, the company offers different financial products, which consist of:
Each year, NerdWallet offers an overall “Best credit cards” review, where it mainly focuses and covers major details on specific types of cards, such as the best rewards, cashback, as well as travel cards. In addition to that, you can also find information for other types of credit cards, as well, such as low interest, bad credit, or balance transfer cards.
Loans and Insurance
With the help of NerdWallet, one can also easily find reviews of loans as well as insurance. In addition to that, there are free calculators you can use to estimate further payments.
Investing is a very crucial decision where you should have great knowledge about the company you are investing in. From the best brokers for different types of traders to the finest IRA providers, online brokers as well as tax software, the main objective of Nerdwallet is to cover all the bases of basic investing along with financial management.
In addition to other services, NerdWallet also helps potential homeowners to understand and decide between the available several mortgage options, which also consists of 30 year fixed mortgages, 15 year fixed mortgages, 5/1 ARM rates and so much more.
Similar to other credit cards, there are a variety of reviews that are going to help you out in choosing the best checking account, savings account, and many much more. They also review a handful of banks as per different categories like Online and mobile banks, Brick and mortar banks, Credit unions, and Big Banks.
How NerdWallet Is Helping Us?
NerdWallet lets you the option of creating an account with them in exchange for your up-to-date credit score every week. This weekly update offers you to see and check how your credit score has changed from the past few months and years. As this is merely a “soft pull” of your credit, signing up won’t distress your score.
They know what is best for their customers, and stand in professional development while striking this balance. They work collaboratively as well as compassionately, guided by their company standards i.e., theorize, build, measure, consumer, company, team, candid and constructive, as well as relentless self-improvement.
As signing up is free of cost, therefore there is nothing to lose. If you want you can use the website even if you do not create an account. But, if in case if you do choose to sign up, they are going to help you out in more ways as possible. You can check up on your credit score, track your spending, and discover other smart methods to save your financial statements.
NerdWallet Legit or Scam: Can We Trust NerdWallet?
Overall, this personal finance tool is one of a kind, therefore, you won’t find anything like this in the market. You really have to make smart decisions while paying off your debt, at this crucial time, NerdWallet helps you out.
But the main question arises here that is it Legit or a Scam? And the answer to the question is NerdWallet is Legit and not a scam, therefore you can have trust in NerdWallet.
Best mortgage lenders According To NerdWallet
According to NerdWallet, these are the best mortgage lenders in the industry based on loan type:
- Best Mortgage Lenders for First-Time Home Buyers: Bank of America and Citibank
- Best Mortgage Lenders for Refinancing: Better.com and LenderFi
- Best Mortgage Lender for Home Equity Lines of Credit: Citibank
- Best Mortgage Lender for FHA Loans: Fairway Independent Mortgage
- Best Mortgage Lenders for VA Loans: Veterans United and Navy Federal
- Best Mortgage Lenders for Online Loans: NBKC and Bank of America
NerdWallet covers almost everything in your daily spending, whether it is your mortgages, investing, banking, credit cards, loans to insurance, and any other financially related matters. With the help of this article, we have discussed and covered most of the things about NerdWallet. Hopefully, this information will be beneficial for you.