The use of debit card has seen a surge recently, especially among the younger demographics. Throughout the pandemic, its counterpart, the credit card, had seen a decline in spending of about 10% year-on-year.
It’s no wonder that many fintech startups have started offering debits cards, to supplement their growing catalog of financial products. One of these fintech companies is Yotta.
I’ve had my Yotta account for a long time now, and I’ve heard about their debit card, but I never really made a move to get it, until recently.
What is Yotta Savings?
Yotta Savings is a bank account that pays out interest in prizes. According to their website, they pay up to $10 million every week, by simply stashing your money in their account. You simply make a deposit and you get tickets every week that can be used to win prizes during the weekly draws.
I have used Yotta since it was released and it became popular due to its innovative way of gamifying a savings account. I’ve win a good amount of prizes from Yotta already. And that’s why I ditched my Ally Bank for this recently.
Yotta Debit Card Features
I got my Yotta debit card back in March, and I have used it more often due to its many perks.
- Lucky Swipes — for every purchase you make using the Yotta debit card, there is a 1 in 200 chance of getting that purchase for free. You can even lower the odds based on some requirements or deals.
- 10% Tickets Back — for every $10 you spend with the card, you get 10% back in tickets.
- 1000 Bonus Tickets — spend $2000 in the first four months.
- Zero-Liability Protection — the 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.
- No Foreign Transaction Fees
- 55,000+ Free ATMs
- Apple and Google Pay Integrations
- Meal Tickets — Yotta partners with Feeding America to turn rounded up purchases into a meal for a family in need.
- Metal Card after 10 Referrals
My Experience
I’ve been using the card for most of the transactions that I do everyday. The first transaction I used it for was for our Xbox controllers in Walmart. Unfortunately, that didn’t turn into a free purchase, but I liked the prospect that any of my swipes could become free.
I was quite excited too when I used the card when we went to Vegas. While walking around the strip, this card was my go to in hopes of making those purchases free. Sadly, none of them were.
I still have to reach the $2000 spend to get my 1000 extra tickets, and I have until June 25th to hit that. Fortunately, we have another travel planned in the middle of June, so this card will be the main card I’ll be using throughout that time.
This $2000 maybe a bit small if I’m going to use the card for all the transactions I do, but even if that’s the case, I’m thinking it’s hard to reach it just because I rarely spend on a day to day basis. I’m only looking forward to spend when there are big events such as travel or birthdays.
I thing to note though is that the usable money in your debit card is attached to your Core Account. This means that if you have set aside money in your buckets, the card won’t be using those. It needs to be transferred first in the Core Account to be usable.
I had an issue with this when I first started the card because I turned some of my ordinary buckets into crypto buckets, which give me more tickets every week. But once I moved the money into the Core Account, the tickets associated with those crypto buckets were forfeited.
Something to take note of.
Aside from the Lucky Swipes, I like the ticket back feature, or their equivalent of a cashback. 10% for for every $10 I spend with the card is a good deal since the more tickets I get, the more chances of winning in the weekly draws.
Also, I’m thinking of using this card when I travel abroad again. With the no foreign transaction fees feature, this is a win for me. To those who travel aboard and have to deal with foreign transaction fees, you know the plight.
Final Thoughts
I really like this card. There are more fintech companies out there offering perks like this, so I may have yet to discover something better. But as of now, the Yotta Debit Card is one of the cards that I’m planning to use for my everyday transactions. It’s easy to use, and most importantly, fun to use when saving and spending.
I’m trying to reach 10 referrals and get the metal card. If you want to try out Yotta and help a guy out, signup using my link so you can start saving and win some cash prizes every week!
SIGN UP TO YOTTA HERE ► https://go.thehustlefiles.com/Yotta