Avoiding Scams
Scammers count on urgency and shame. The defense is simple: slow down, verify out-of-band, and trust your gut when something feels off.
Money red flags
If any of these show up, walk away.
- Pressure to act 'right now' or 'today only'.
- Asks for payment in gift cards, crypto, or wire transfer.
- Promises guaranteed returns or 'no risk' investments.
- Won't put terms in writing.
- Can't be reached at a public phone number you found yourself.
Predatory loans to dodge
Payday loans and many 'no credit check' loans hit 300-700% APR. If you need cash fast, try a credit union small-dollar loan, a card cash advance (still bad but less bad), or a 0% intro card.
Online safety basics
Use a password manager (Bitwarden is free). Turn on two-factor auth everywhere — use an app like Authy, not SMS. Freeze your credit at all three bureaus when you're not actively borrowing — it's free and stops most identity theft.
Glossary
- APR
- Annual Percentage Rate — the true yearly cost of a loan.
- Phishing
- A fake email/text designed to steal your login or money.
- Credit freeze
- Locks your credit so no new accounts can be opened in your name.
Next steps
- Set up a password manager today.
- Turn on two-factor auth on your bank and email.
- Freeze your credit at Equifax, Experian, and TransUnion (free, online).