@taxi818 wrote:The card is very transparent. Honestly, I only got it to help with Utilization as a couple other cards were closed due to lack of use. Macys. 4k limit after 15 years. Gone. I paid it off just last may. And they closed it last month since I did not use it since then. Hence, I can't stand anything Citi. Also. Had a Fingerhut $4k. Closed. Out of business. So I lost 8k from profile. Just trying to get some limit back. You mentioned capital one. They sent me a pre approval but said I had too many capital one cards. I only have 2 opened. 3 I brew off 8 years ago that have aged off of my credit. 1card 5 years old $500. And 1 secured $300. Which they graduated and returned money. However, I can't get increase to help with lost limit. I'm trying figure if u close one will they give me a card out of the bucket list. As the only reason they state fir denial is too many cap one cards. The other 3 are just old balances beyond statute of limitations.
Close one (or both) of your low limit Cap 1 cards, wait 6 months and you'll probably be approved for VentureOne or Savor with a decent starting limit. Those two cards you have are bucketed and will likely never grow, or grow so slowly they aren't worth the time. I still have a Quicksilver from 2013 that has never received an increase from the initial $500 limit because it's bucketed.
A lot of people don't know about it because it is invite only and they have a specific target market.
Ollo was bought by Ally. Ally Credit Card was bought by Merrick Bank. Merrick Bank is currently rebranding Ally credit cards back to Ollo.
Ally was the first unsecured card offered to me while I was rebuilding. $1,000 CL card when my credit was 547. It seems like Merrick Bank is bringing back the Ollo brand as many people have had positive experience with Ollo.
I hope they keep it up. I don't use my Ally (now Ollo Card) as much. It's 3% Gas, 3% Groceries, 3% Drug Stores.
It's very similar to:
CapitalOne Savor Card 3% Groceries, 3% Dining
Amex BCE 3% Groceries, 3% Gas, 3% online
AAA Daily Advantage 5% Groceries, 3% Gas, 3% Wholesale Club.
Capital One used to be subprime and they bought out Orchard Bank and Household Bank in 2012 and now in 2026, their image is greatly improved especially with their Quicksilver, Savor, and Venture lines. They went from a no-perks card like Merrick to offer some perks and upgraded branding (cafe with aquisition of ING cafes, commercials, airport lounges, etc.)
I'm not sure if that's the direction Merrick is going, but the invite-only model to help people rebuild helps.
The only down side to the card is their CLI is very conservative as it should be because of the profile of the credit card users. I'm debating on cancelling it, but if they don't charge me an annual fee, I may keep it until they cancel me.
It really is great. Back when my credit score was 547. All the major lenders denied me. They did not even offer secure cards. I think I applied for BOA secured card and was denied.
Ally (which is Ollo now), gave me a chance with the card you have now. The first auto CLI was only $100 (6 months), but the one after that was an additional $1,300 (11 months). So in less than a year, my CL went from $1,000 to $2,400. The rewards were easy to use. 3% Groceries and Gas is great. No FTF if you travel overseas. The only downside is I couldn't use it at Costco since it is a MasterCard.
It definitely help me rebuild my credit without having to pay any annual or monthly fees with predatory credit card companies.
