OLLO Card Account Closure - Master Thread

[Anonymous]

Thank you so much for posting this follow up information!  I am in the middle of purchasing a business and just submitted all my financials to the bank, I was freaking out becuase of what this situation would potentally do to my personal credit.  I am a bit more chilled now, so a very serious thank you.  Hopefully it is a computer glitch and everyone posting from the same experience just got temporaraly wrapped up in it.  I have heard that this card is slightly notorious for closing accounts put of the blue, hopefuly that is not the case here.

Cheers ~

[Anonymous]

I notice my account was closed as well. Played telephone tag four times since 6:30am. Finally went to Ollo site. Different message now appears acknowleding that a technical issue is trying to be resolve. Hope this helps everyone that posted so far. Will try to log in around 1pm eastern time. Will update forum then.

[Anonymous]

I just went online to make my payment and FREAKED!  I am relieved to read of this major "glitch" because the phone line is inaccessible according to the phone company. All circuits are busy.  There are thousands of panicked people. Hope it resolves soon and I don't get dinged for a late payment!

[OutOfBK]

I also just tried to log in again this morning to see if i got a message pertaining to the account closure issue.  According to the message, they are working to fix the problem that has affected a lot of accounts.  I think we are all good. We just need to wait to see how long it takes to bring our Ollo accounts back from closed to Open status.  Thanks to all of our awesome myFico Forums group for starting this chat!

[Anonymous]

Glad it wasn't just me. Thought it was weird given that I've been very responsible with the way that I have used my card. Hopefully, they'll get it resolved soon.

[mrcraft]

Same thing happened to me.  My coffee charge was declined this morning!  Then, checked my app and I see my account got closed.  Next stop here because I didn't want to wait on hold. 

I'm glad it was a glitch.

[mrcraft]

You may be aware that Ollo had issues today inadvertantly closing accounts.  They have messages on their website that they are aware of issues and are in the process of fixing their error.  Just FYI.  A charge-off hit my Experian report when I checked my Chase Credit Journey a few minutes ago.  This account shows as closed and charged-off with a corresponding credit score drop.  It also shows I missed my January payment.  I've PIF'd every single month since I opened this account.  This is ridiculous.  I hope my other issuers are aware of this and won't negatively affect my other accounts. 

I went directly to my Experian account and saw that my Experian FICO 8 score dropped 60 points.

Ollo better hurry up and fix this hot mess.

[toi34]

OMG! Ollo's glitch just reported to the credit bureaus as a Charge-Off. My credit score just dropped!!!!!! I can't get a hold of anybody on the phone and the website is down. I'm rebuilding 2 years perfect payment history after a BK7. I don't need my other creditors seeing this mistake. 

OMG...OMG...OMG...OMG what do I do??????

[mrcraft]

Me too.

[AllZero]

That is insane! Hope you all recover quickly from this hot mess 🥵!