EP321 TikTok Credit Card Tips Reviewed by NerdWallet Canada

Young Money with Tracey Bissett

Today we're diving into the untapped world of financial wisdom on TikTok as Shannon Terrell, lead writer at NerdWallet Canada, shares the truths and myths surrounding popular financial advice. Shannon sheds light on crucial financial insights shaping the digital landscape, from purchase protection to the mysteries of credit card skimmer scams. With Canadians increasingly relying on TikTok for financial advice, this episode offers tips to navigate the complexities of credit cards and personal finance.

Listen in to hear about the nuances of credit utilization ratios, the intricacies of credit card insurance, and the realities of credit card churn. You'll learn how to safeguard your financial interests and make informed decisions about your finances.

“When dealing with credit card insurance, always make sure that you’re checking the fine print and ensure that you understand what obligations you need to fulfill as the cardholder so that you’re not left high and dry in a difficult situation.” - Shannon Terrell

This Week on Young Money:

• What NerdWallet is and who they help.
• What a day in the life of a writer for NerdWallet looks like.
• What trends on TikTok we can follow.
• How credit card insurance works.
• What your credit utilization ratio is.
• How to spot a skimmer scam.

Key takeaways:

1. Check the fine print.
2. Know your obligations.
3. Check your spending.
4. Understand your credit limits.
5. Make payments often on your credit card.
6. Trust your gut.
7. Re-evaluate who you follow on social media.

Connect with Shannon Terrell:

• LinkedIn
• NerdWallet
• NerdWallet Website
• NerdWallet LinkedIn

Resources Mentioned:

• EP106 Milli Moves: Money & Media with Leanna Haakons
• EP301 Will Swifties Save or Sink into Debt

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