@Lauraist wrote:
Last Saturday, I received an invitation for an Ollo card, but got turned down when I applied.
On Wednesday, I received a pre-approved application for a Merrick Bank card and got accepted.
When I checked my CK report to look at the HPs, I noticed they both have the same address.
Is the Bank of Missouri (Ollo issuer) affiliated with Merrick?
Do banks which are affiliated ever send out two different apps, and turn you down for the first on purpose, to get you to apply for the second, which is the one they really want you to take anyway? Or am I being paranoid/thinking too much?
I do not know much about either bank .. but a quick search yields this
https://www.bankrate.com/banks/merrick-bank/2615190/
I do not think Merrick bank is associated to the Bank of Missouri .
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Looks like the Ollo Card is targeted toward people with a specific range of EX FICO score ...
"That's why I was intrigued by two new credit cards tailored specifically to Experian customers in the fair to good credit range (typically, a FICO® Score* between 580 and 700): the Ollo Platinum Mastercard® and the Ollo Rewards Mastercard®.
I have covered credit cards for a long time, so I was a little skeptical of the idea that a card aimed at consumers in this middle credit range could be a good deal for them, even if it is offered by my own company.
Sumit Agarwal, head of digital marketing and lending innovation for Fair Square Financial, the company behind the Ollo card, explained to me that they created this card with specific input from consumers in this credit range.
"For this population segment, known as ‘near prime,' there aren't too many great products available," says Agarwal. "There are many good cards for people in the upper end of the range, but not those in the middle or bottom."
