Closed Ollo Card

[FLLGuy]

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***Update***  Called and closed I had a $9 statement credit.    thank you for the reminder.

@FLLGuy wrote:

This post reminded me I should be doing the same thing.  I too have an OLLO card aquired during my 2nd yr of BK 13, i'm alos greatful they gave me shot but, in reality this card is the lowest CL of all my cards @ $2100.  I only run $50 every 6mos for my PO box.   My only hesitation.......i have none.  Time to let go say thank you and good bye for now.

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[FLLGuy]

Since we're on the subject of closing OLLO, just now got an email that OLLO was aquired or merging with Ally Financial.   This will either favor the same or better, who knows it's anyones guess at this point. 

OLLO_ALLY.png

[HeyNurse90]

Congrats! 

I'm looking forward to the day when I can close my Credit ones lol 🙂

[FLLGuy]

@HeyNurse90  - closed Credit1 also a few months ago after closing on a new mortgage. I am thankful credit1 helped my credit rebuild.  Some complain but in all honesty Credit1 serves a purpose for a certain audience for a certain period of time.  

when you do make that call to close tuem out,  get ready for their persuasive offers.  

[Bosslady951]

Congratulations on your progress. I am rebuilding and still have my Ollo card. My scores have jumped over a hundred points recently and last week I was approved for an American Express Gold card. I am so pumped!

[Jeffster1]

I closed my OLLO earlier this month. It was time. I have no complaints but it was just time. I had moved on. 

I think of OLLO with respect. It's a rebuilder card without making you feel subprime. I know that sounds crazy, but I really had no complaints whatsoever. Just waiting to close Merrick as soon as it reports correctly to EQ.

[FLLGuy]

@Bosslady951 excellent that's a huge jump 100pts+ - nicely done!    In all fairness, OLLO wasn't a bad card for me it just didn't grow with me as offers improved.    Nicely done with your Amex approval - keep at it.

[SuperFlyEDSguy]

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@Jeffster1 wrote:

They felt near-prime. None of the "ick" of the other subprime cards. Both had rewards. Both gave me a chance. No complaints with either.

Wow! You really said that extremely well! 👏👏👏 Probably because you're 100% correct!

Mercury and Ollo don't necessarily feel like "Prime" cards, but I also didn't feel like a loser for pulling one out either. They felt like petty much any Visa or Mastercard product available through Any Bank U.S.A. And, for the most part and I was very grateful that they gave me such opportunities to rebuild after crashing-and-burning as hard as I did! 🙏

Conversely, you have issuers like Cap 1 that try so hard to give the appearance of being "mainstream," but the reality is that they're not much better than First Premier, Deserve, and the like! My oldest card is unfortunately with Cap 1, and I'm sure it's less than ironic that it's also my card with the second lowest credit limit! Trying to request a CLI with Cap 1 is verging on being comparable to getting a root canal! It simply hurts! 🦷🩸🤕

I said in a post just a few hours ago that "What's in your wallet?" should be more likened to the joke of the day than it is to a corporate slogan!  🤦‍♂️