The Yotta credit cards combine the excitement of winning lottery tickets with the possibility to build credit. Yotta cards are prize-linked financial products. This doesn’t mean you will earn the same rewards as other cards. Each purchase that you make will give you the chance to receive a reimbursement to Yotta. A reimbursement up to $5,000 can be granted. Let’s hope you don’t win a pack of gum, but a refrigerator!

Other than the games of chance, the Yotta credit-card with a $0-annual-fee Yotta has many other unique features. You can only spend a set amount per month to build credit. You also get automatic monthly payments, which means you don’t have to pay late fees or skip paying your credit card bill. There’s also no credit check.

Five things you need to know about the Yotta Credit Card.

1. Ya gotta use Yotta to be eligible

To apply for the Yotta card, you must be a Yotta member. Yotta has a savings account as well as a debit card. Both offer the chance to win prizes if you save money or buy things.

You can make payments to your Yotta credit cards using your Yotta bank account.

2. Rewards are not very attractive …

Yotta’s credit card offers a 2% chance to get your next purchase paid for. This chance increases to 20% when you use it at participating “Lucky Deal” merchants. Your base chance of getting a free purchase is 1 in 100. Refer a friend and your odds of getting a free card increase.

Wait, there’s more to it! Spend $5 and you get entered in a $10 million weekly sweepstakes. Spend $2,000 within the first four months of your card, and you will be eligible to enter the next contest 2,000 more times.

3. … The card is intended for credit-building.

Yotta is a starter credit card that has limitations, but can help you build credit.

You don’t need to have a credit check to apply. Also, you don’t have to make a security deposit as you would with traditional secured credit cards. Your Yotta account will allow you to set your spending limit. You can do this by moving money into a “bucket”. The bucket contains all the money you can spend on the card. This eliminates the possibility of overspending. The Yotta credit cards are not able to put you in debt.

Equifax by Synapse is Yotta’s financial services partner. Credit utilization, however, is not reported. This means that you can charge as much as your spending limit without negatively impacting your credit. With traditional credit cards, it is best to not charge more than 30% of your credit limit each month. )

With the Yotta credit cards, late payments can result in fees and substantial dings on your credit score. Your monthly payment is made automatically on the 15th.

4. You might not be prepared for other cards.

Although these training wheels are helpful for beginners in credit card management, once they’re more experienced, it may be difficult to manage a card with no such safeguards. Card with greater cash-back and travel rewards will make it easier for the user. You can spend more than you have the ability to repay, which can lead to high-interest, expensive credit card debt. It is possible to miss a payment, or exceed your credit limit.

You can still use the card’s features to create some safety nets for yourself. You can set up text or email alerts by logging in to your account online or using the issuer’s mobile app. These alerts can inform you about upcoming payments due dates, high balances, or charges exceeding a certain amount. If you have enough funds in your bank account, setting up automatic payments can help prevent late payments.

5. Limited availability of the card

Yotta cards are currently out of stock. If you’re hoping to grab one, it will be a long wait. You can still sign up for a Yotta Account and be notified when new cards become available.

Only residents of Alabama, Indiana and Kentucky can apply for a Yotta card.