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Ollo Platinum Mastercard warning

kobeisthegoat
New Contributor

Ollo Platinum Mastercard warning

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  I don't exactly have a fax machine anymore since that technology is a little outdated, so I used the FAX app and paid to fax the documents.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.

Message 1 of 25
24 REPLIES 24
realestone
Established Contributor

Re: Ollo Platinum Mastercard warning

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





Message 2 of 25
Dinosaur
Moderator Emeritus

Re: Ollo Platinum Mastercard warning

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!
Starting Score: 850
Current Score: 850
Goal Score: 850


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Message 3 of 25
joe8185
Valued Contributor

Re: Ollo Platinum Mastercard warning

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.

Ch 7 BK discharged 11/28/14, credit rebuild well advanced. FICO:TU 680 FICO 8 (3/2/19) or 687 FICO 9/EX 694 FICO 8/EQ 685 FICO 8 or 674 FICO 9 (NFCU 3/3/19), VS 3.0 10/17/18: TU 702/EX 699/EQ 698. $92.9k revolving credit as of 1/31/19; $1K NFCU cashRewards Visa, $2K BJ's Perks MC, $5.1k Discover It #1, $6.5k Discover It #2 (new 3/12/18), $3.5k Petal Visa, $6k Paypal 2% CB MC, $6k Amazon Prime Store Card, $6k Walmart Store Card, $7k Apple FCU Platinum Visa, $7k Penfed Power Cash Rewards Visa, $11.8k Overstock Store Card, $15K Care Credit, $16K Cap One QS Rewards Visa Signature, $10k PenFed used car loan, $5k Navient student loan, $12.7k Lending Club loan. Gardening: 3 months, 19 days as of 1/31/19. 24 HP inqs total as of 10/12/18: 10 TU, 9 EQ, 5 EX (about half over 1 year old).
Message 4 of 25
kobeisthegoat
New Contributor

Re: Ollo Platinum Mastercard warning

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.

Message 5 of 25
cincydavid
Frequent Contributor

Re: Ollo Platinum Mastercard warning

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.  

 

 

Message 6 of 25
MaizeandBlue
Senior Contributor

Re: Ollo Platinum Mastercard warning

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.





Message 7 of 25
kobeisthegoat
New Contributor

Re: Ollo Platinum Mastercard warning

 

Message 8 of 25
MrJamaica
Regular Contributor

Re: Ollo Platinum Mastercard warning

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
My first card 5/2017

Nfcu 3 cards
Cash 500-$23.8/ Cash 2 $15.7k/Nfcu Amex $5k-6.5
Sync 9 Cards
pp credit 2h-$5k/Marvel $10k/Tjx $4k/Lowes $3k-$30k/Rakuten $5.7k/CareC $8.2k-$20k/Sams Mc $2.4k/Ppal Mc $3.5k
Citi 6 CC
Home Depot $1k-$15k/Tire king $1.3-$3k/MacyAmx $2k-$11.5k/Citi simpli $2.2k/BestBuy Visa $4k
Other Banks
StateFarm $6.9k/Banco $2.2k/Bbva $4k/Target $1.7k/SCU $15k/Ikea-$8k-/ $14.75/ Disco $10k/
Cloc
Nfcu $15k/Cap1-Walmart $10k
Closed by me
Amex/Deserve/ollo/Amazon/bloom/ebay/shellmc
Message 9 of 25
oldfrenchy
New Visitor

Re: Ollo Platinum Mastercard warning

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

Message 10 of 25
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