Before Ally fully took over the Ollo cards, I had applied for an Ally card through a CK offer. The application got turned down because Ally said they don't offer multiple accounts to individuals at that time. That was back in December of last year. Fast forward to now and I received the above email yesterday. Seems like they have revised their policy on allowing people to have multiples of their cards. Not sure if you have to get an offer from them or if you can just apply for a second card if you wanted one.
Personally, I wish they would allow for you to ask for a CLI instead of offering a second card, but hopefully that will change in the near future as well. I also don't want this card even though it's pre-approved, but I already have a 2% rewards card and this one would be redundent, although the 15 month 0% rate is almost tempting, but not tempting enough. But this might be a good offer for people out there looking for an everyday 2% card with a 0% intro interest offer.
The key words from the rep are "at this time". Since Ally gobbled up Ollo and they did not have any existing credit card department they took the company in full and made it their department. Doing so also means thy took the processes and ideas Ollo had and did not review them until later. Now that people have been denied for a second card after the product line was expanded they are reconsidering the one card limit. I personally believe the merger was good because Ally wants to help people handle money and Ollo wants to raise people from low places to higher ones. Also Ally has experience with TD Bank which helps them not make as many mistakes.
What I do know is that Ollo used to be/was/is invite only and last I checked so is Ally so far. I don't know what it takes to get an invite but I started an Ally money market account last month and a checking account just about a week ago now...Ollo had a 2.5% everything CB card that I was trying to get an invite for...I don't know if Ally is going to keep that going or not but I'm holding out hope.
8/8/25
I too have wondered how Ally screens for invitations... thought of opening a HYSA to start the relationship. I'd imagine it couldn't hurt.
I have a ally checking, savings, money market savings, investment account and the Ollo cards and no invite here.
@citymunky wrote:I have a ally checking, savings, money market savings, investment account and the Ollo cards and no invite here.
The Ollo cards are Ally now though...it seems you already got invited.
I just had an invite for the 2% cash back card. I have no other Ally products except for the Everyday CB card which was converted from an Ollo Rewards card in June. The problem I see with their 2nd card offering is the $3000 starting limit. I'm wondering if this is their current upper limit. My converted Ollo card was at $2900. I'd rather see them double my credit line on the existing card.
I meat
@Lou-natic wrote:
@citymunky wrote:I have a ally checking, savings, money market savings, investment account and the Ollo cards and no invite here.
The Ollo cards are Ally now though...it seems you already got invited.
I meant for a 2nd CC account.
@citymunky wrote:I meat
@Lou-natic wrote:
@citymunky wrote:I have a ally checking, savings, money market savings, investment account and the Ollo cards and no invite here.
The Ollo cards are Ally now though...it seems you already got invited.
I meant for a 2nd CC account.
I see, I wouldn't worry to much about it. I doubt they bought Ollo out for their credit cards just to keep them invite only.
In the current economy being invite only is probably a good feature. Ally might change their mind later but I don't think it will be any time soon. They are in the position of strangth right now and losing leverage is not ideal.