Yotta Credit Card Review – Get Bonus Tickets & Chance For Free Purchases; Plus 2,000 Tickets Signup Bonus

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.
  • 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

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19 Comments
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profff
profff (@guest_1360791)
April 8, 2022 22:51

Not licensed in Washington. Might be worth updating with which states this is applicable in.

Hans
Hans (@guest_1360236)
April 7, 2022 16:39

no joke I have had my Yotta debit card since early 2021 and have earned a little over $500 between the lotto ticket winnings and free purchases from swiping my card, I just got the credit card and I think this is the best banking card out there (besides the inconvenience of having to deposit funds either via mobile deposit from another account or direct deposit. Get Yotta, I’m not even adding my referral code, go sign up srs.

Hans
Hans (@guest_1360235)
April 7, 2022 16:39

no joke I have had my Yotta debit card since early 2021 and have earned a little over $500 between the lotto ticket winnings and free purchases from swiping my card, I just got the credit card and I think this is the best banking card out there (besides the inconvenience of having to deposit funds either via mobile deposit from another account or direct deposit. Get Yotta, I’m not even adding my referral code, go sign up srs.

Meg
Meg (@guest_1357247)
April 1, 2022 20:05

Yotta yotta yotta yotta yotta yotta…and so on

Jay - ⒿⒶⓨ 🙈 🙉 🙊
Jay - ⒿⒶⓨ 🙈 🙉 🙊 (@guest_1357009)
April 1, 2022 14:31
Noa
Noa (@guest_1356992)
April 1, 2022 14:09

Yotta also has a debit card and from what I can tell it has the same benefits as the credit card including the 2000 ticket bonus, so this would be a better option if you’re concerned about 5/24 slot etc

Mike
Mike (@guest_1357162)
April 1, 2022 17:38

Apparently their credit card is reported as a loan on your credit reports, which is great for me since I can’t get another credit card for one-and-a-half years in order to get a Chase credit card.
Source: https://help.withyotta.com/en/articles/6047918-why-does-the-credit-card-show-up-as-a-loan-on-my-credit-report
P.S. Yotta’s credit card has a few advantages over their debit card such as better odds and of course, credit building since you can only pay what’s in your balance.

Keith
Keith (@guest_1357275)
April 1, 2022 21:22

I think you only get 1 bonus ticket for $10 spend with the debit card, not $5 like the credit card.

PJM
PJM (@guest_1356934)
April 1, 2022 12:41

I believe it’s only “2%” on restaurants, not all purchases. 1/100 on all purchases, 1/75 on all purchases (and during the first month for all applicants) if you have direct deposit, 1/50 on restaurants if I remember correctly. 2000 bonus tickets if you spend $2000 during the first four months. One ticket per $5 of spend. Expected ticket value about .7 cents ($.07), give or take.

Not a great card, but it’s a great way to enjoy the thrill of gambling/dopamine hits on lucky swipes. So, some entertainment value.

Andy
Andy (@guest_1357571)
April 2, 2022 14:24

 Chuck The 2% is extremely deceptive language on the part of Yotta. It’s with referral only and only for 30 days. Terms are at the bottom of their page.

*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.

Keith
Keith (@guest_1357273)
April 1, 2022 21:12

I think you meant $0.007, not $0.07. From my experience it’s more like $0.005. I guess you are luckier than me!

PJM
PJM (@guest_1357277)
April 1, 2022 21:24

You’re right, and I was super careful too. I meant $0.007.

Keith
Keith (@guest_1356923)
April 1, 2022 12:25

Here’s my quick, non-precise, analysis. I have $10k in my account and gets 400 tickets each week. On average, I *think* I get less than $2 in winnings each week. So the value of a ticket for 1 week is half a penny ($2/400), and the returns of the bonus ticket for the $5 spend is 0.1%. Add that to the random 2% free purchase reward, you get a total of 2.1% expected cash back

Not too shabby for a free card but also not that outstanding compared to Citi, or Chase freedom unlimited (if you value UR at 1.5 cents like me).

Keith
Keith (@guest_1356929)
April 1, 2022 12:31

Guessing any free purchases “won” will get a 1099-misc if they total over $600 in a year. The extra ticket and any winnings from that gets treated as interest income.

Matt
Matt (@guest_1356991)
April 1, 2022 14:07

It’s a 1% free purchase reward now.