OLLO Card Account Closure - Master Thread

[CreditBruce]

Ugh. It just happened to me. What the heck. It was my oldest card since bankruptcy in July 2018. I have paid on time and used the card every month even if on small charges and paid in full every month. With that said my bigger concern is that it says "Error/SessionError/RestrictedDueToChargeoff" in the url. My account was in good standing. What they mean charge off? I do have a balance of under $100 from charges i made this cycle. Which i intended to pay when the next statement comes out. I just got my fico score over 700 in the new year. I hope they dont mess it up. I'm currently on the phone waiting for someone at ollo to answer. Will update after.

[CreditBruce]

I just got off the phone with them after waiting 68 minutes on hold. The rep says that they had a system glitch. They had scheduled for charged off accounts to close at midnight but the system accidentally mass closed more accounts than it was suppose to by mistake and she claims my account was one of them and it will come back and show open status after the glitch is fixed.  She said she's been answering calls about this all night. The people that can fix the glitch according to the rep don't come into work until 8am. I sure hope they correct this quickly.

[Anonymous]

Hello all. I have had my OLLO card for nearly two years. They have always been pretty good about CL increases. 

About 4 months ago they sent me a promo offer of zero APR for six months. I jumped on it and made some large purchases ($2000). At the time my CL was $2400. Each month I was paying $200-$300. 

In January they gave me a $600 CL increase, taking my CL to $3000. I woke up this morning to make a payment and found a message that they had closed my account. When I called the 877 number, I was met with a hold time of more than 30+ minutes of waiting. I decided to stay on the line but after 30 minutes, and the repeated "wait time is longer than 30 minutes" msg, I hung up. 

Is it unusual for a credit card company to suddenly close an account in good standing? I have used that card quite frequently over the years and have always paid off in time. Never once was I late. 

I guess I won't get any answers from them any time soon. 

[Remedios]

@Anonymous  I've merged your post with another thread dealing with Ollo closures. 

Please read the post above, maybe that's what happened to, too. 

I'd try calling them again when you have time, and see if closing your account also happens to be a mistake, or you can wait and see if the situation resolves itself (if it happened due to technical error). 

Sorry this happened to you 

[Anonymous]

I called and confirmed the same with them just now. waited 107 minutes after reading here but wanted to hear it for myself from them

got super nervous as Im back up to a 670 after BK 7 months ago and ollo helped me at the beginning and raised me as promised (measly $100 raise but better than $0)

Ive been so careful with utilization and payments and all of that I freaked a little this morning trying to log in!

[Anonymous]

I just wanted to chime in and say I got the same message:

"This account has been closed. Please contact Ollo Card Services at 1-877-494-0020 for additional information."

with the URL ending in RestrictedDueToChargeoff

I had (maybe have?) a limit of $3700 and only had $500 balance and never missed a payment. Never paid any interest either. I hope it's just a glitch... not for fear of losing the card, but because I had online billing setup and have no idea how to send them a payment. Plus I have no access to any of my statements. I'd hate to mess up my perfect BK recovery due to them closing my account 12 days before my bill was due Lesson learned though, going to turn off online billing on all my accounts. 

[Anonymous]

I just found it happened to me as well when my transaction was declined.

[FantumGrey]

Thanks for the info.  I just got home from work and discovered that my account was closed. I'm on hold with them now, but since my account is in good standing, I imagine I'm also one of the accidental purges. Thanks to you, I can hang up.

[Anonymous]

Wow

same thing just happened to me!

keep me posted 

[OutOfBK]

Thanks, yes, i too, tried logging into my account only to find that my account was closed/restricted and to call that toll free number. I called, was on hold over an hour, decided to hang up.  After reading this may possibly be a gltich is great news.  I opened my Ollo in March 2020 and my credit limit now at $3,100 with Bankruptcy still in play and i had/have a credit balance of like $7.  I use it monthly for small purchases, pay in full with never any balances.  My credit score just fresh off of FICO today says it is 706.  I hope this really is just a glitch as this is my highest card limit at the moment. I have a Citi Bank Best Buy of $1,500 CL, Mission Lane $850 CL, Gulf Gas Card $200, oh, and a Firestone Card with $3,500 CL...guess its my hightest limit. All accounts are zero balance.