OLLO Card Account Closure - Master Thread

[Remedios]

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@toi34 wrote:

ACCOUNT CLOSED! 

It's not that there was a glitch, like I said in my post it's the type of glitch -- "charge off". This is serious for some people even if it's not that big of a deal to you. And yes I'm emotional, I'm very upset like a lot of others.

Good riddens Ollo.

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Yes I understand it's a big deal.

That's the same reason why I tried to calm some of our members down so they don't make irrational decisions. 

I do not have a horse in this race, and now you don't either. 

[Anonymous]

I know they were hacked, but I just got an alert that I missed payments and I'm trying to rebuild credit after April 2020 Chap 7 discharge. 
I know some have had accounts closed, but mine is still active, but erroneous credit report. I have never missed a payment nor been late. 
Anybody else have this problem?

[Anonymous]

"If you have no use for the card, close it.

If you have use for the card, don't hold grudges, it's not a daily or monthly thing. "

You are correct - in essence "business is business". Decisions about these matters are best made if impulse is not the driving force.

Someone may have use for the card, but if the customer experience is lacking, that's a consideration.

I got dinged by this error. Was more annoyed by the long hold time than anything else.

Had the EX alert come up this evening for the CO.

But what concerns me more if the lack of updates by Ollo. There has not been an email update in 1.5 days. The app is not working. Am unable to log into my account (could be another issue, but probably not).

People are still reporting 30-50 minute hold times - 2 full days after the error. Seems to me this is an "all hands on deck" moment where you spin up as many CSRs as possible to get them into a customer facing posture, so you can drive down the hold times.

But anecdotally, the hold times seem to be steady. Not sure that should be the case this far into the incident. And we are well into this incident.

I'm paying off an interest free balance at present. But that gives me time to see how Ollo handles the After Action phase of their error.

I do have use for the card, but need to see a thoughtful explanation of what was supposed to happen, what did happen, and what they will do to improve the customer experience (maybe an Ollo coffee cup - haha!).

If the Ollo account is closed, there's plenty of other companies that want people's business. Because in the end, it's almost always a case of "business is business".

[Anonymous]

How will you know that it has been removed from your credit reports?

Do I have to pull from all three credit bureaus and examine each individually.

I subscribe to mytrueidentity.com from Transunion and the have entry for all alerts. Do you know if they will issue as simple as an alert if this erroneous entry has been removed?

This is a real pain. I think Ollo should take responsibility of notifying their customers that they have corrected their credit report and not leave us to figure out if they did. 

[blindambition]

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@Anonymous wrote:

How will you know that it has been removed from your credit reports?

Do I have to pull from all three credit bureaus and examine each individually.

I subscribe to mytrueidentity.com from Transunion and the have entry for all alerts. Do you know if they will issue as simple as an alert if this erroneous entry has been removed?

This is a real pain. I think Ollo should take responsibility of notifying their customers that they have corrected their credit report and not leave us to figure out if they did. 

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You can pull all reports from Annual Credit Report for free until April. You can check weekly.

[Anonymous]

Well...I just spoke with an Ollo "representative".  The good:Wait time was only 7 minutes. The bad: They can give no estimate as to when the credit bureaus will remove the charge offs.  "There were many many accounts involved in this and we are working on each case with the credit bureaus to reverse this error."  I told her they need to send out written communication about this detrimental issue. I reminded her about the Fair Credit Reporting Act. It occurred to me after I ended that frustrating unhelpful call, that the reason there has been no written communication is precisely because this is actionable and in doing so would jeopardize their position. 

[PizzaAngel84]

For anyone who was worried about Ollo. I called Ollo yesterday and the rep said they also used a third party company to communicate to other banks that they were having issues.

[NeverGivinUp]

Actually, we just received the exact notification from Experian. Happy to see this is being taken care of.

[mrcraft]

I received the same message from Experian too.  My Experian scores and reports were restored early yesterday morning.  While it's unfortunate that we had to endure this, Ollo did quickly fix their mistake.  

[Credit12Fico]

They ought to have thrown in an extra year of account age for all affected