Considering New Card- Merrick or Ollo During Rebuild

[Anonymous]

I have had a Merrick card for ~5 years after Chapter 7.  They have been great in every instance, and I would recommend them highly.  Recently got an Ollo card with a $2k limit, and wish I never did.  The thing I'm finding with many banks and credit cards  lately is their new scam (ways to make money at our expense) is that they do not accept  electronic payments. Therefore, my credit union had to mail them a check.  With my first payment due to Ollo on the 9/17,  I set up my first payment to arrive at Ollo  by 9/7. However, they had not posted in my payment as of the 17th and are now charging me $27 late fee.   Needless to say, I will be paying them off at my very first opportunity. If they can't post a check going from Nevada to Texas in 10 days, something is wrong somewhere. I find this is happening more and more, so watch your step. 

[Anonymous]

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@Anonymous wrote:

I have had a Merrick card for ~5 years after Chapter 7.  They have been great in every instance, and I would recommend them highly.  Recently got an Ollo card with a $2k limit, and wish I never did.  The thing I'm finding with many banks and credit cards  lately is their new scam (ways to make money at our expense) is that they do not accept  electronic payments. Therefore, my credit union had to mail them a check.  With my first payment due to Ollo on the 9/17,  I set up my first payment to arrive at Ollo  by 9/7. However, they had not posted in my payment as of the 17th and are now charging me $27 late fee.   Needless to say, I will be paying them off at my very first opportunity. If they can't post a check going from Nevada to Texas in 10 days, something is wrong somewhere. I find this is happening more and more, so watch your step. 

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Ollo doesn't accept electronic payments??? Did we jump back to 1996? That's craziness! 

[Anonymous]

This seems to be a new trend.   Maybe it is a new "banks vs. credit unions" issue because I've had the same problem with Merrick and a car loan payment  and from two separate credit unions. I'm wondering if it's not my the payment processing company that my credit unions use. They tell me that the companies (Ollo, Merrick, Nationwide)  won't except electronic payments.  Ollo still (on 9/20) HAS NOT POSTED my payment that was to have arrived at their facility by September 7.  Amazing!!!  and scary.   When I called them yesterday, they informed me that it sometimes takes up to 15 DAYS to post a payment sent by check.  Balogny!

[Anonymous]

Thanks for everyone's input. Wanted to provide an update that I accepted the Merrick offer so will use this card to help with my rebuild.
I will also keep an eye on their payment posting based on the recent info.

[Anonymous]

With regard to payments at our house we always pull payments from the credit card site and then have a confirmation rather than push and journey into the black hole. 

[Anonymous]

I’m not sure what happened with you all in not being able to pay electronic payments, because I pay both of them electronically since I’ve had them and never had any posting delays.

Merrick has been fabulous and held their end up and upped my credit limit 3 times so far. Ollo has been an ok card, credit limit is there just in case. I don’t use it since they don’t have an app to pay through making it easy to use. Merrick has updated their app and looks and works great. Hope you get yours straightened out. They both have done wonders for my credit scores.

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@Anonymous wrote:

Working on a rebuild after a recent Chapt 7 Discharge and considering adding another Visa/Mastercard I can use for daily spending and keep the utilization low.  I currently have a Cap One Quicksilver for daily spending and couple of store cards I do not use.  I have received Pre-Approved offers from Merrick and Ollo, with the Merrick offering Double Credit Increase after 7 months and Ollo offering a raise after 5 months- both with no fees. I checked pre-approval sites of several other more reputable vendors but currently not qualifying due to bankruptcy I’m sure.

Looking for opinions on the Merrick vs Ollo cards, and which may suit my rebuild better and to keep for a long while as I rebuild.  I am kind of leaning towards Merrick at this point based on the reasonable credit line guaranteed after 7 months, $2200. It’s been about 5 months since I last applied for anything.

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I'm impressed with the Ollo card rewards.