topic Re: Don't fall for the OLLO Card "preapproval" invitation in Bankruptcy

Don't fall for the OLLO Card "preapproval" invitation

Anonymous — Thu, 18 Apr 2019 15:41:39 GMT

I am 6 1/2 months out of my Chp 7 discharge. Haven't applied for anything but, of course have been bombarded with offers, note "offers" from Credit One and loan places (with 200%+ interest rates), etc. I never received one with the word "preapproved" until Ollo started sending me stuff about two months ago. I wasn't going to touch any of them, didn't want to. The last two I got from Ollo were tagged as "preapproved" for their card. I read through all of the literature with it and NO WHERE did it say "preapproved" subject to credit review. In the body of the letter it stated they had reviewed my credit history and that I was preapproved to receive their card. OK. I know my FICO's are in the mid 600's so I went onto their website and filled in the app with their reservation number, blah blah.

Response from Ollo...........DENIED. WTH?

So folks, if you are starting with your rebuilding after your discharge, do not fall for Ollo's BS that you are "preapproved" for their card. Now, I have a hard inquiry on my credit thanks to their misleading note. Very frustrated.

Re: Don't fall for the OLLO Card "preapproval" invitation

Anonymous — Thu, 18 Apr 2019 16:55:56 GMT

Oh man, I'm so sorry that happened to you, however, I am very grateful you shared and provided us with a heads up. Thanks!

Re: Don't fall for the OLLO Card "preapproval" invitation

Anonymous — Thu, 18 Apr 2019 18:07:03 GMT

What was the reason they gave for denial? What is your TransUnion FICO score? (Not Credit Karma)

Also you may need to see if your reports show IIB for all you’re previous accounts.

Re: Don't fall for the OLLO Card "preapproval" invitation

Anonymous — Thu, 18 Apr 2019 20:44:54 GMT

I fell for the same thing a couple days ago!! It said I was preapproved for a card with no annual fee, and since i'm looking for a replacement to my Credit One I went ahead and applied. They denied it. Haven't received the letter yet as to why, but it was pretty annoying. To make it even more annoying they sent me another mailer today saying i'm preapproved, haha.

Re: Don't fall for the OLLO Card "preapproval" invitation

WD2005 — Fri, 19 Apr 2019 01:30:17 GMT

I was prequalified during my CH13 and was approved. It was for a whole $300 and I've seen a $100 CLI in like 6 months. I don't use it.

Re: Don't fall for the OLLO Card "preapproval" invitation

8ways2learn — Fri, 19 Apr 2019 01:31:57 GMT

I just want you guys to know I got the same preapproval and I was Approve for $1600. My score when I applied was

Eq-598

Tu-602

Ex-609

my bk was discharge 4/2017

Re: Don't fall for the OLLO Card "preapproval" invitation

Anonymous — Sat, 20 Apr 2019 01:41:24 GMT

@Anonymous wrote:
I am 6 1/2 months out of my Chp 7 discharge. Haven't applied for anything but, of course have been bombarded with offers, note "offers" from Credit One and loan places (with 200%+ interest rates), etc. I never received one with the word "preapproved" until Ollo started sending me stuff about two months ago. I wasn't going to touch any of them, didn't want to. The last two I got from Ollo were tagged as "preapproved" for their card. I read through all of the literature with it and NO WHERE did it say "preapproved" subject to credit review. In the body of the letter it stated they had reviewed my credit history and that I was preapproved to receive their card. OK. I know my FICO's are in the mid 600's so I went onto their website and filled in the app with their reservation number, blah blah.

Response from Ollo...........DENIED. WTH?

So folks, if you are starting with your rebuilding after your discharge, do not fall for Ollo's BS that you are "preapproved" for their card. Now, I have a hard inquiry on my credit thanks to their misleading note. Very frustrated.

Same thing happened with me but then I checked my reports and didn't see a hard pull.

Re: Don't fall for the OLLO Card "preapproval" invitation

texasguppie — Sat, 20 Apr 2019 15:57:06 GMT

@Anonymous wrote:
I am 6 1/2 months out of my Chp 7 discharge. Haven't applied for anything but, of course have been bombarded with offers, note "offers" from Credit One and loan places (with 200%+ interest rates), etc. I never received one with the word "preapproved" until Ollo started sending me stuff about two months ago. I wasn't going to touch any of them, didn't want to. The last two I got from Ollo were tagged as "preapproved" for their card. I read through all of the literature with it and NO WHERE did it say "preapproved" subject to credit review. In the body of the letter it stated they had reviewed my credit history and that I was preapproved to receive their card. OK. I know my FICO's are in the mid 600's so I went onto their website and filled in the app with their reservation number, blah blah.

Response from Ollo...........DENIED. WTH?

So folks, if you are starting with your rebuilding after your discharge, do not fall for Ollo's BS that you are "preapproved" for their card. Now, I have a hard inquiry on my credit thanks to their misleading note. Very frustrated.

I can only share my personal experience with OLLO pre-approved offers; they sent me only ONE and with scores in the LOW 600's at the time (more than 18 months ago) I was instantly APPROVED.

I've since received TWO unsolicited CLI increases.

This may very well be one of those situations where something changed in your profile that negated the "Pre-Approval" from the time it was initially granted to the application date.

Re: Don't fall for the OLLO Card "preapproval" invitation

Anonymous — Fri, 26 Apr 2019 18:54:15 GMT

ugh, so sorry that happened to you. I did also get a pre-approved letter from them, and was instantly approved for 1000.00 CL, which they just recently increased to 1200.00 just this week. Do they have a number you can call?

I also did the pre-qual on Cap1 they gave me 3000, and I did burn them I had about 3 cards.

I started doing the pre-qaulifiy on sites first now, because BK lol

Re: Don't fall for the OLLO Card "preapproval" invitation

Anonymous — Thu, 02 May 2019 04:12:00 GMT

I got this today. Lol. I’m trying to hold out for better cards but 90% though......

Re: Don't fall for the OLLO Card "preapproval" invitation

Anonymous — Thu, 02 May 2019 19:29:54 GMT

lol, Morpho at least there are no fees attached thats funny it says 90% though

Re: Don't fall for the OLLO Card "preapproval" invitation

Anonymous — Sun, 12 May 2019 15:59:49 GMT

I received a mailer for pre-approved card AND it shows up in EXP as a viable card for me.

I'm going to try at the end of this month.

Re: Don't fall for the OLLO Card "preapproval" invitation

gorgon — Mon, 13 May 2019 12:51:54 GMT

@Anonymous wrote:
I received a mailer for pre-approved card AND it shows up in EXP as a viable card for me.

I'm going to try at the end of this month.

That's how I picked up My Ollo Rewards card. Displayed as a suggested card in Experian Credit Monitoring.

Re: Don't fall for the OLLO Card "preapproval" invitation

Anonymous — Tue, 14 May 2019 12:27:39 GMT

Hi Morpho.....what is IIB?

Re: Don't fall for the OLLO Card "preapproval" invitation

gorgon — Tue, 14 May 2019 13:26:21 GMT

IIB is Included In Bankruptcy.

IIB should be listed on all accounts on your credit reports that you filed bankruptcy against after your discharge.

Re: Don't fall for the OLLO Card "preapproval" invitation

Anonymous — Thu, 16 May 2019 01:21:55 GMT

Mine also came up in Experian and I am so glad I did. I don’t have any store cards and two subprime cards (cap1 and now Ollo), I feel pretty excited

Re: Don't fall for the OLLO Card "preapproval" invitation

Anonymous — Fri, 24 May 2019 05:15:21 GMT

I received the preapproved offer from the experience website. No AF Rewards Card. I want to app but I’m scared it won’t be approved and don’t want to waste a hard pull. My Ex is 676, TU is 671, & Eq is 696.

Re: Don't fall for the OLLO Card "preapproval" invitation

gorgon — Fri, 24 May 2019 12:46:51 GMT

@Anonymous wrote:
I received the preapproved offer from the experience website. No AF Rewards Card. I want to app but I’m scared it won’t be approved and don’t want to waste a hard pull. My Ex is 676, TU is 671, & Eq is 696.

Your scores are higher than mine when I accepted the invitation on Experian to apply...

I was approved for $1600 SL.

Re: Don't fall for the OLLO Card "preapproval" invitation

toi34 — Sat, 25 May 2019 20:27:47 GMT

When I signed-on to Credit Karma a few days ago the Ollo card popped-up as a "preapproval." I applied through the CK app on my phone and was approved. I'm not happy with the starting limit of $300, but oh well. They pulled TU and my score at the time was 609.

Data Points:

I received the no AF card
BK7 discharged April 2019

Re: Don't fall for the OLLO Card "preapproval" invitation

Anonymous — Mon, 27 May 2019 23:54:39 GMT

You're not missing much.....Ollo is some straight crap like Credit 1. You're better off getting a secured card or going to Cap 1