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Lulo Bank review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Lulo Bank suits Colombian adults who want a credit card without an annual fee and like being paid for instalment spending. The card carries an annual fee of COP 0, and cardholders earn cashback of 0% to 2% on the purchases that qualify.

Key facts

Best for
Colombian residents who want a fee free credit card with cashback on instalment purchases.
Annual fee
COP 0↗
Rewards type
Cashback↗
Rewards rate
Hasta 2% en compras diferidas a más de una cuota↗
Credit needed
Good↗
Perks
0% interest on single payment purchases, Dynamic CVV security, Contactless mobile payments↗
Cashback rate
0% to 2%↗
Card kind
Credit↗
Regulators
Superintendencia Financiera de Colombia↗
Legal entity
Lulo Bank S.A.↗
Headquarters
Colombia↗
Founded
2019↗
Support channels
Help-centre↗
Pricing model
No annual fee
Features
Rewards
Official website
lulobank.com

Loans

Loan amount
COP 1,500,000 to COP 50,000,000↗
Term
12 to 48 months↗
Funding time
Immediate to Lulo account; free transfer to another bank may take up to 3 business days↗
Lender type
Direct lender↗
Eligibility
Colombian nationality with citizen ID, aged 21-65, must hold the Lulo app, income above 2,000,000 COP↗
Loan types
Personal↗

Crypto exchanges

Derivatives
No↗

Facts checked September 26, 2026, 6 sources

Apps and profiles

Get the app
Google Play
Elsewhere
LinkedInXfacebook.com

Pros and cons

Pros

  • Annual fee of COP 0 on the credit card, matching a no annual fee model
  • Cashback of 0% to 2% on deferred purchases, paid as cashback rather than points
  • Free investment credit of COP 1,500,000 to COP 50,000,000 for qualifying borrowers, with a term of 12 to 48
  • Perks include no interest on single payment purchases, dynamic CVV security and contactless mobile payments

Cons

  • Support runs on help centre only, with no listed phone or email channel
  • Eligibility is limited to Colombian nationals with a citizen ID, the Lulo app and income above the stated threshold
  • A free transfer to another bank may take up to three business days, against immediate funding inside Lulo

Ready to try Lulo Bank?

Scored 8.3 / 10 by SumCue.

See alternatives

Who it suits

  • Colombian nationals with a citizen ID who already hold the Lulo app
  • Adults with a minimum age and income requirement met, who pay in instalments
  • Borrowers after personal credit of COP 1,500,000 to COP 50,000,000 and do not need a mortgage or insurance product

Who should look elsewhere

  • Credit builders looking for a secured card, where Varo Believe Secured Credit Card fits better
  • Travellers who need multi currency spending, where Wise handles more currencies
  • Anyone outside Colombia, since the card is limited to Colombian nationals

Who runs it

Lulo Bank S.A. is a Colombian digital bank, CO based, and it lends directly to its own customers rather than acting as a broker. It was founded in 2019 and operates under the Superintendencia Financiera de Colombia. Credit is aimed at a single market, with personal loans the main product, and help is offered through help centre.

How Lulo Bank compares

Where Lulo Bank is available

Available
Colombia
Licence in Colombia
Superintendencia Financiera de Colombia, checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does the Lulo Bank credit card cost to hold?+

The card carries an annual fee of COP 0, so there is no yearly charge for keeping it open. That matches a no annual fee model, which is the most common setup in this family of cards. Interest still applies once a purchase is split into instalments.

How does the cashback work?+

Cardholders earn cashback of 0% to 2% on deferred purchases. The cashback is paid on instalment spending rather than on every card payment, and it is credited as cashback instead of points. Purchases paid in a single payment do not earn the reward.

Who can apply for the card?+

Applicants need to be Colombian nationals with a citizen ID, hold the Lulo app and meet the stated income requirement. The card is aimed at adults within a minimum age and maximum age band. Applications are made through the app rather than a branch.

What other lending does Lulo Bank offer?+

Lulo Bank is a direct lender and offers personal credit of COP 1,500,000 to COP 50,000,000 with a term of 12 to 48. It describes this as free investment credit, so there is no interest charged on the amount. It does not offer mortgage or insurance products.

Who regulates Lulo Bank?+

Lulo Bank is supervised by the Superintendencia Financiera de Colombia, the regulator listed for the bank in Colombia. The lender is registered as Lulo Bank S.A. and operates only in its home market, so the authorisation is a domestic one.

How quickly is credit paid out?+

Funding is immediate to a Lulo account. A free transfer to another bank may take up to three business days, so borrowers who need the cash elsewhere should allow for that waiting period.

What security features does the card have?+

The card carries dynamic CVV security, which changes the card verification value over time. Contactless mobile payments are supported for everyday spending. These perks sit alongside the free investment credit on the account.

Sources

Compiled from 6 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: APR, Currency conversion fee.

Related by the facts

Lulo Bank

Colombian residents who want a fee free credit card with cashback on instalment purchases.

8.3/10See alternatives