Does Yotta Impact Your Credit Score?

Ryan Scribner is an angel investor in Yotta. 

Yotta is a popular savings app that offers users the chance to win prizes by saving money.

Many people are curious about the impact that using Yotta might have on their credit score.

Savings Accounts Have No Credit Impact

The good news is that opening a savings Yotta account will not affect your credit score in any way.

When you open a savings Yotta account, you are not taking out any credit. You are simply depositing money into a savings account, much like you would with any other savings account.

As a result, opening a savings Yotta account has no impact on your credit score.

Yotta Credit Card

However, it's important to note that if you apply for the Yotta Credit Card, this may have an impact on your credit score.

Whenever you apply for credit, whether it's a credit card, loan, or mortgage, the lender will run a credit check to assess your creditworthiness. This credit check will show up on your credit report, and it can have a small impact on your credit score.

The good news is that if you choose to use the standard debit card that comes with your Yotta account, this will not have any impact on your credit score.

The debit card works just like any other debit card, allowing you to spend the money you have deposited in your account.

Final Thoughts

In conclusion, if you're worried about the impact that using Yotta might have on your credit score, you can rest assured that opening a savings account with Yotta will not have any impact.

However, if you do apply for the Yotta Credit Card, be aware that this may have an impact on your credit score.

Be sure to read our full Yotta review here for more info!

This article was generated using automation technology, and thoroughly edited and fact-checked by an editor on our editorial staff.