topic Re: Ollo - Another New Credit Card Company - Invite Only in Credit Cards

Ollo - Another New Credit Card Company - Invite Only

Aahz — Sat, 25 Mar 2017 06:33:13 GMT

Ollo Platinum - https://www.ollocard.com/Platinum-Card

No annual fee
Automatic credit line increase reviews
Free FICO® Score available online
No over the limit fees
No returned payment fees
No foreign transaction fees
No rate hike when you make a late payment
Zero Fraud Liability
protects you against unauthorized purchases
24/7 U.S. based customer service
comes standard
Fast, easy online and mobile access
so you can manage your account from anywhere
At this time, Ollo products are offered by invitation only.
Ollo Platinum Product Pricing Information: The standard Annual Percentage Rate (APR) is a variable rate, currently 24.99%. Annual Fee: $0. Fees for Cash Advances: 5% or $10, whichever is greater. Fees for Balance Transfers: 4% or $5, whichever is greater. Minimum interest charge: $1.50. Accounts subject to credit approval. Pricing may vary; see your solicitation for specific rates and fees associated with your offer.

Ollo Rewards - https://www.ollocard.com/Rewards-Card

2% cash back
on all gas station, grocery store and drugstore purchases
1% cash back
on all other purchases
$39 annual fee
No over the limit fees
No returned payment fees
No foreign transaction fees
No rate hike when you make a late payment
Zero Fraud Liability
protects you against unauthorized purchases
24/7 U.S. based customer service
comes standard
Fast, easy online and mobile access
so you can manage your account from anywhere
At this time, Ollo products are offered by invitation only.
Ollo Rewards Product Pricing Information: The standard Annual Percentage Rate (APR) is a variable rate, currently 24.99%. Annual Fee: $39. Fees for Cash Advances: 5% or $10, whichever is greater. Fees for Balance Transfers: 4% or $5, whichever is greater. Minimum interest charge: $1.50. Accounts subject to credit approval. Pricing may vary; see your solicitation for specific rates and fees associated with your offer.

The Ollo MasterCard® is serviced by Ollo Card Services, and issued by Mid America Bank & Trust Company; Member FDIC under license from MasterCard® International

Re: Ollo - Another New Credit Card Company - Invite Only

Anonymous — Sat, 25 Mar 2017 09:12:56 GMT

Good find. I may have to see what happens with the rewards card. I don't like the $39 AF but it is only $39. Wish restaurants were included in the 2% as well, but nice that prescriptions are as I have a lot... I mean a ?@!(?! -load

Re: Ollo - Another New Credit Card Company - Invite Only

redpat — Sat, 25 Mar 2017 11:48:19 GMT

It looks like a rebuilder trying to put a dent into Cap One.

Re: Ollo - Another New Credit Card Company - Invite Only

AverageJoesCredit — Sat, 25 Mar 2017 12:10:36 GMT

Wouldnt that be the "new" Credit One?

Re: Ollo - Another New Credit Card Company - Invite Only

fltireguy — Sat, 25 Mar 2017 12:28:24 GMT

@Aahz wrote:
Ollo Platinum - https://www.ollocard.com/Platinum-Card
No annual fee
Automatic credit line increase reviews
Free FICO® Score available online
No over the limit fees
No returned payment fees
No foreign transaction fees
No rate hike when you make a late payment
Zero Fraud Liability
protects you against unauthorized purchases
24/7 U.S. based customer service
comes standard
Fast, easy online and mobile access
so you can manage your account from anywhere
At this time, Ollo products are offered by invitation only.
Ollo Platinum Product Pricing Information: The standard Annual Percentage Rate (APR) is a variable rate, currently 24.99%. Annual Fee: $0. Fees for Cash Advances: 5% or $10, whichever is greater. Fees for Balance Transfers: 4% or $5, whichever is greater. Minimum interest charge: $1.50. Accounts subject to credit approval. Pricing may vary; see your solicitation for specific rates and fees associated with your offer.

Ollo Rewards - https://www.ollocard.com/Rewards-Card
2% cash back
on all gas station, grocery store and drugstore purchases
1% cash back
on all other purchases
$39 annual fee
No over the limit fees
No returned payment fees
No foreign transaction fees
No rate hike when you make a late payment
Zero Fraud Liability
protects you against unauthorized purchases
24/7 U.S. based customer service
comes standard
Fast, easy online and mobile access
so you can manage your account from anywhere
At this time, Ollo products are offered by invitation only.
Ollo Rewards Product Pricing Information: The standard Annual Percentage Rate (APR) is a variable rate, currently 24.99%. Annual Fee: $39. Fees for Cash Advances: 5% or $10, whichever is greater. Fees for Balance Transfers: 4% or $5, whichever is greater. Minimum interest charge: $1.50. Accounts subject to credit approval. Pricing may vary; see your solicitation for specific rates and fees associated with your offer.

The Ollo MasterCard® is serviced by Ollo Card Services, and issued by Mid America Bank & Trust Company; Member FDIC under license from MasterCard® International

Apparently, OLLO is led by an ex-executive from CapOne, and BOA. You do NOT need an invite to apply, here is the link to app for the rewards MC

https://www.creditkarma.com/reviews/credit-card/single/id/FairSquare01

Re: Ollo - Another New Credit Card Company - Invite Only

fltireguy — Sat, 25 Mar 2017 12:58:53 GMT

ALSO, FYI

PULLS EX!

Re: Ollo - Another New Credit Card Company - Invite Only

redpat — Sat, 25 Mar 2017 13:08:05 GMT

@fltireguy wrote:
ALSO, FYI
PULLS EX!

An ex-Cap one executive not pulling all 3, he must want the business.

Re: Ollo - Another New Credit Card Company - Invite Only

AverageJoesCredit — Sat, 25 Mar 2017 14:22:01 GMT

And let the stampede begin

Re: Ollo - Another New Credit Card Company - Invite Only

Anonymous — Sat, 25 Mar 2017 14:51:25 GMT

Only if you want a $300 SL.

Re: Ollo - Another New Credit Card Company - Invite Only

Anonymous — Sat, 25 Mar 2017 14:59:58 GMT

Crazy. They could have at least used the new MasterCard, er, mastercard, logo.

Re: Ollo - Another New Credit Card Company - Invite Only

Anonymous — Sat, 25 Mar 2017 16:58:53 GMT

Thanks for the information!

Re: Ollo - Another New Credit Card Company - Invite Only

Anonymous — Sat, 25 Mar 2017 18:43:01 GMT

@Anonymous wrote:
Good find. I may have to see what happens with the rewards card. I don't like the $39 AF but it is only $39. Wish restaurants were included in the 2% as well, but nice that prescriptions are as I have a lot... I mean a ?@!(?! -load

Why would you need this over a free 2% everywhere card (as from your scores and existing cards you are not a rebuilder)

Re: Ollo - Another New Credit Card Company - Invite Only

Anonymous — Sun, 26 Mar 2017 01:57:31 GMT

If you look I said that before I knew it was a rebuilder card.
At first I said that only because I like it when people post new cards-it gets old reading about the same cards. Now that I have come back and read the thread I would not get this card.

Did that clear it up?

Re: Ollo - Another New Credit Card Company - Invite Only

joltdude — Sun, 26 Mar 2017 02:04:25 GMT

Its a new face to a subprime bank!

Remember Total

Cerulian

First Access

Milestone?

This is another card from them.. they are trying to do a Cap One/Credit One and reimage themselves....

https://wallethub.com/credit-cards/mid-america-bank-trust-company-13004561i/

Re: Ollo - Another New Credit Card Company - Invite Only

mkhan1093 — Sun, 26 Mar 2017 02:06:28 GMT

Interesting little card, but definitely looks like a rebuilder card. Still would be interested to know the future of these two cards! I feel like the AF for the rewards card is kind of outrageous since their are no-AF cards which offer stronger cashback. Oh well, I'll let the ex-C1 guys do their job

Re: Ollo - Another New Credit Card Company - Invite Only

Anonymous — Sun, 26 Mar 2017 03:18:43 GMT

@Anonymous wrote:
If you look I said that before I knew it was a rebuilder card.
At first I said that only because I like it when people post new cards-it gets old reading about the same cards. Now that I have come back and read the thread I would not get this card.

Did that clear it up?

Nope! My rebuilder comment wasn't really about this card, more with your status you could get a free 2% everywhere card, so why would you be interested in a $39AF 2% somewhere card even if it only went to people with excellent credit.

It's clearly a poor choice compared to the 2% cards, for those that can get them.

But if you like seeing new cards, fine, but lets evaluate them!

Re: Ollo - Another New Credit Card Company - Invite Only

Anonymous — Sun, 26 Mar 2017 09:03:05 GMT

If a 2% card came with certain benefits like no FTF-and for those of us who a) don't want the Fidelity card, and b) cant get in with Citi .... then I am always up for looking for another 2% card-and $39 is not a huge fee. If the fee came with other benefits I would be willing to pay for it.

Some people are not always against AF's-it really depends on what you get for the AF. Look at Amex. Lots of their cards come with an AF. It's worth it tho for most of them.

I also agree with evaluating new cards. Never said we shouldn't. I made the comment after the first post. Now that I see it is a rebuilder card and comes with small SL-I don't want this card.

It's still up in the air if it is a good card for others who are rebuilding.

Re: Ollo - Another New Credit Card Company - Invite Only

B335is — Sun, 26 Mar 2017 23:09:22 GMT

Interesting new card. As much as I love GP new cards I can't think of any reason this would be beneficial to my situation. It certainly looks like a decent alternative to the traditional Credit One and Milestone offerings. So I suppose there's worse sub-prime cards out there. I am kind of curious what type of limits they're giving. Some of the reviews at CK seem to suggest people have had this card 5+ months, has it been around that long?

Re: Ollo - Another New Credit Card Company - Invite Only

Anonymous — Mon, 27 Mar 2017 00:25:18 GMT

Stampede over a subprime crapsack card?

Okay maybe you're right.

Re: Ollo - Another New Credit Card Company - Invite Only

Anonymous — Mon, 27 Mar 2017 03:34:46 GMT

It's not bad for a rebuilder. I would definitely take this over a Credit 1. Luckily, I don't need either. But you're right- it is good to share info on all new cards and it may help some.