Yotta is launching a new “credit” card which draws on the balance in your Yotta Savings account, a unique kind of savings account which offers loterry-style rewards.
Join the waitlist here
- Signup Bonus: Spend $2,000 in your first four months and earn 2,000 bonus tickets in the next contest.
- Ongoing Rewards:
- A 2% chance of getting your next purchase paid for by Yotta for free, including on dining. Use your card at a partner Lucky Deal merchant and get even better odds of up to 20%.
- Odds of a free purchase depend on if you have direct deposit setup as well as how many referrals you have. With direct deposit setup, your odds are at least 1 in 150 for the debit card and a 1 in 75 for the credit card. Every friend you refer unlocks you 30 days of 1 in 100 odds for free stuff on your debit card and 1 in 50 odds for your credit card.
- 20% TICKETS BACK: Get a bonus ticket into next week’s $10 million sweepstakes for every $5 you spend with your card.
- A 2% chance of getting your next purchase paid for by Yotta for free, including on dining. Use your card at a partner Lucky Deal merchant and get even better odds of up to 20%.
- No interest or fees. Your limit is your Yotta balance, meaning you can never get into debt. Payments will always be on time and run in the background. No fees, ever.
- Every swipe gets reported to the credit bureaus to improve your credit score with every purchase.
- Card is backed by MasterCard Zero Liability Protection, so you’re never on the hook for unauthorized purchases if you lose your card or it gets stolen.
Sorry for lack of analysis here – I’m not honestly sure if this card is worthwhile since I find Yotta too confusing. Hopefully others will chime in below with a better dissection of the card.
Readers note that there’s also a Yotta debit card which has some of the same rewards as the credit card.
Hat tip to readers Storm and Kris
Source: doctorofcredit.com