topic Re: Ollo Platinum Mastercard warning in Credit Card Applications

Ollo Platinum Mastercard warning

Anonymous — Wed, 04 Apr 2018 20:48:00 GMT

Last Monday when I logged on to Credit Karma there was a preapproved message for the Ollo Platinum Mastercard with 0% APR for 9 months. I googled the card and from what I could find it looks like a new company started by someone at Capital One, with cards geared towards those in the late phase of a rebuild. I went ahead and applied and got a notification that they would need more information, and that I would receive a letter in the mail. I also immediately got a notification from Experian that Ollo had done a hard pull.

On Monday I got a letter from them saying they were unable to verify my identity. They asked me to provide a copy of a recent utility bill or bank statement, a photocopy of my social security card, and a valid driver's license. It asked me to EMAIL this info or fax the info for expedited processing. It also gave an address to send the information. There was no phone number on the letter. I kind of just wanted to say forget it, but I didn't want to waste a hard pull. I did a google and found the customer service phone number. I told the girl on the phone my situation and that I didn't feel comfortable sending these documents via email. I asked if there was a way I could securely submit the information via their website, or customer service. She acted like I was crazy and offered no help at all. Again, not wanting to waste a hard pull I decided to send by fax. I don't exactly have a fax machine anymore since that technology is a little outdated, so I used the FAX app and paid to fax the documents.

Yesterday I called the customer service number and told them what happened and said I would like to verify that they received the documentation and check the status of my application. Again, this guy acted like he had no clue what I was talking about. He even said "are you sure this was for an Ollo card?!"... uh, yes?... He told me no account had been generated for me and to call back between 8am and 4:30pm Eastern Time and ask to speak to the credit department. This morning I called the number and asked for the credit department, the girl on the phone pretty much laughed at me and said "we don't have a credit department". I told her about my phone call yesterday and she said "we don't have a credit department, I don't know why they told you that". I asked her who I could talk to regarding my application and to verify they had received my fax. She told me there's nobody I could talk to, and if I sent a fax she's "sure they received it". I was just like uh... ok...? And that was it! She couldn't help me any further. Even if I hear back from them with an approval, I don't think this is a company I want to do business with in the future. Their customer service is pretty terrible.

If you get an offer to apply, proceed with caution.

Re: Ollo Platinum Mastercard warning

Anonymous — Wed, 04 Apr 2018 20:59:09 GMT

this sounds like a terrible company let us know how it works out in the end

Re: Ollo Platinum Mastercard warning

Anonymous — Wed, 04 Apr 2018 21:07:21 GMT

kobeisthegoat ... pretty scary! Is this the real company or did they want to SCAM you out of personal information? Yes, I don't trust anymore and am automatically suspicious when things happened the way you described! Fingers crossed!

Re: Ollo Platinum Mastercard warning

Anonymous — Wed, 04 Apr 2018 22:16:50 GMT

I was already disinclined to accept the preapproved mailer I got the other day for the Ollo Platinum, since it's a plain-vanilla card and I don't really want any more plain-vanilla cards; and as for their Rewards card, it has an annual fee which makes it a nonstarter on principle. This just makes me warier of Ollo.

Re: Ollo Platinum Mastercard warning

Anonymous — Wed, 11 Apr 2018 17:15:48 GMT

As an update, I have not heard back. I called customer service again yesterday and spoke to a supervisor. I was advised that the number I was calling was only for established accounts. When I asked to speak to someone to confirm they had received my faxed documents and check the status of my application I was told I would have to speak to the credit department and they only do business via fax and email. She told me she doesn't even have the number for the credit department. I have a hard time believing that.

I am considering lodging a complaint with the CFPB, but in the interest of keeping all vibes positive re my rebuild and not wasting a hard pull, I decided to make a final effort by sending all docs via snail mail, priority with signature confirmation.

Assuming they move forward with opening my account (they pulled my Experian score which was 674 at the time), I will take advantage of the 0% intro APR and no annual fee, and then into the sock drawer it will go. I strongly warn against app'ing for this card until the company gets it's act together.

Re: Ollo Platinum Mastercard warning

Anonymous — Wed, 11 Apr 2018 20:18:36 GMT

I had no trouble setting up my account, but I used the card twice, once in each of the first two billing periods. Paid it off each time, and each time they took a LONG time to credit my payment. They even hit me with a late payment fee on the 2nd go-around. I paid it off, cut up the card, check it once a month ago via their website (no mobile app that I know of) to make sure there aren't any weird charges or anything.

I absolutely refuse to deal with this company, but I'm curious to see how long they'll leave the account open.

Re: Ollo Platinum Mastercard warning

Anonymous — Wed, 11 Apr 2018 20:48:26 GMT

I have no idea why people apply for credit from these dodgy companies then complain when things go sideways.
Based on a recommendation from Credit Karma? Really? They exist only to earn kickbacks from applications made through their site so ALL their recommendations should be taken with more than a grain of salt.

Re: Ollo Platinum Mastercard warning

Anonymous — Wed, 11 Apr 2018 21:00:49 GMT

@MaizeandBlue The reason I applied is because I'm in the latter stage of a rebuild and do not often get 0% APR offers on non store cards. I researched the company and only found positive info about them being a great new card company started by someone from Capital One. The reason I am "complaining" about "things going sideways" is so there will be other information online when someone else googles the company before applying. As for CK, I like to app for cards through Credit Karma when possible because I appreciate the valuable free service they provide and I like to support where I can.

Re: Ollo Platinum Mastercard warning

Anonymous — Fri, 13 Apr 2018 23:26:39 GMT

Just closed my account started at $800 they only increased to $900 lol and they have changed name or ownership 3 times since I had them

Re: Ollo Platinum Mastercard warning

Anonymous — Thu, 03 May 2018 21:19:46 GMT

I'n brand new..... this forum came up in a Google search about the OLLO card. I was just looking for a place to use this card for a cash advance. Anyway, just to let you know; I also got a PREAPPROVED offer. I'm also in the very late stage of rebuilding. I went to the online GET APPROVED website, entered the minimum information they asked for, clicked enter, and boom.....ab out 15 seconds later had an approval for $3,000. I'vw only used the card once so far for gas, but as this has been positive for me, I will let you know if anything happends on the opposite end of the spevtrum. Thanks

Re: Ollo Platinum Mastercard warning

texasguppie — Fri, 04 May 2018 01:25:16 GMT

I have had NOTHING but GREAT experiences with my OLLOCARD!

I am also rebuilding my credit so this was a welcomed approval and it came with a decent starting limit for a guy fresh out of BK7.

Six months in and without a request my account received a nice CLI.

I'll be keeping this card long after the rebuild process is completed.

Re: Ollo Platinum Mastercard warning

Anonymous — Wed, 09 May 2018 01:09:30 GMT

Heh... into the sock drawer?

Why not just abandon the card and call it a day?

Re: Ollo Platinum Mastercard warning

Anonymous — Thu, 31 May 2018 23:14:31 GMT

How long after your received your card did you receive a credit limit increase?

Re: Ollo Platinum Mastercard warning

joltdude — Mon, 04 Jun 2018 02:24:33 GMT

Seems like they got an influx of funding though...

http://www.philly.com/philly/blogs/inq-phillydeals/ollo-credit-card-citi-comcast-execs-raise-100m-dollars-fairsquare-credit-cards-20180515.html?__vfz=medium%3Dsharebar

Re: Ollo Platinum Mastercard warning

Anonymous — Mon, 04 Jun 2018 02:51:00 GMT

@Anonymous wrote:
How long after your received your card did you receive a credit limit increase?

I've only had my card a month or so but I bet at 6 months I am given a CL increase. I'll post here for ya when I do.

Re: Ollo Platinum Mastercard warning

Anonymous — Thu, 14 Jun 2018 20:47:51 GMT

I was offered the MasterCard through Credit Karma and I have had no issues with the company as of 2-Months in. The approval process was super fast and the company seems to be reputable. No complaints on my end. Hope this is helpful to some of you!

Re: Ollo Platinum Mastercard warning

dynamicvb — Fri, 15 Jun 2018 13:27:45 GMT

I'm not sure about this company either. I had gotten a pre-approval in the mail a few months ago and thought I should probably get a card to use for my rebuild. Of course, I was immediately denied. This confused me as they sent the pre=approval and we were not talking about but a couple of hundred dollars. So I got nervous and started looking at who registered the domain names etc.. After looking at thatIi got extermly nervous as sometihng was not adding up. This prompted me to get a life lock subscription. I'm definitely not going to just blindly trust any document I get in the mail from now on. I did start to feel better after seeing them advertised on CK and EX for their cards. This doesn't mean they are a good card, but at least that let me know I had not just given my personal information to someone who was not even issuing cards. I'm still keeping the Life Lock activated for a little protection on my identity. It would not do them much good to steal mine anyway with my scores :-)

Re: Ollo Platinum Mastercard warning

Anonymous — Fri, 15 Jun 2018 13:45:54 GMT

I got a preapproved offer (complete with registration codes) for their Rewards Mastercard a couple of weeks ago. I doubt I'll take it, though, since it doesn't give any better regular cashback than Discover IT (1% excluding their quarterly 5% categories) on most purchases (gas, grocery and drugstore are 2%); the Paypal Cashback Mastercard seems a better bet at a straight 2% though I'll probably have to apply "cold" for that one, so I'm giving it a while longer before I do.

Re: Ollo Platinum Mastercard warning

Anonymous — Sat, 16 Jun 2018 18:43:32 GMT

I applied for this card and got a message that stated they need more information and will send me a letter with instructions. I'm assuming it's a similar identity verification process? Does this mean an approval once they get whatever docs they want? It's hard to communicate with them because the only customer service # is for established accounts and they have no idea about applications that are pending

Re: Ollo Platinum Mastercard warning

TheVig — Sat, 16 Jun 2018 19:25:23 GMT

If you sleep with dogs, good chance you might wake up with fleas.

To me Ollo, Credit One, First Premier, Blaze, Milestone, etc are all dogs with varying degrees of flea infestations.