At Ollo, they offer refreshingly different products to meet the needs of their customers with no surprise fees and access to great benefits. At this time, Ollo products are offered by invitation only. However, if you are looking for information on how to apply for Ollo Credit Card this post got you covered. If you already have Ollo credit card account you can follow this guidelines to access your account.
What Different Ollo Cards Are Available?
There are two different versions of the Ollo credit card. Both cards are issued by the Bank of Missouri and work anywhere accepting Mastercard. Neither card requires a security deposit like a secured credit card. Banks pay a small fee to do a soft credit pull and send these pre-approval invitations to people with qualifying credit scores.
The invitation letter will be for the Ollo Platinum or Ollo Rewards. Your approval odds should be very good because you can only apply for an Ollo credit card if you get an invitation.
Ollo will perform a hard credit pull when you respond to their mail offer. This inquiry verifies there have been no major changes to your credit report since they sent the offer. You will most likely receive an instant approval credit card decision within one minute. If approved, Ollo will send you one of these cards.
1: Ollo Platinum
The Ollo Platinum is the entry-level Ollo credit card product. It doesn’t earn rewards on purchases and has no fees. You won’t pay an annual fee, foreign transaction fee, over-limit fee, or returned payment fee. If you make a late payment, your interest rate won’t increase. But, you will still pay a late payment fee, up to $39.
Ollo may also automatically increase your card’s credit limit. You will receive free FICO credit score updates each month.
Balance Transfer Promo: Select applicants can qualify for a promotional 0% APR on purchases and balance transfers for the first 9 months. You can transfer the balance from your current card and get an interest-free opportunity to pay off your debt balance.
If you don’t qualify for the Ollo Platinum Mastercard introductory APR, you can still focus on building credit without paying an annual fee.
- No annual fee
- Monthly FICO score updates
- Automatic credit
- No purchase rewards
- Invite-only application
2: Ollo Rewards
The Ollo Rewards Mastercard earns 2% cash back at gas stations, grocery stores, and drugstore purchases. All other purchases earn 1% back.
The annual fee is between $0 and $39. If you have the highest annual fee, you will need to spend $2,000 each year in the 2% bonus categories to offset the $39 fee with purchase rewards. This is a good option if you can earn more in purchase rewards than the annual fee cost.
Like the Ollo Platinum, the Ollo Rewards doesn’t charge a foreign transaction fee, over-limit fee, or raise your interest rate if you miss a payment.
This card doesn’t offer an introductory APR for purchases or balance transfers. But if you receive an invitation for this card, you most likely have a better credit score than what is required for the Ollo Platinum.
- Earn 2% at gas stations, grocery stores, and drugstores
- No foreign transaction fee
- Annual fee might be waived for well-qualified applicants
- Annual fee up to $39
- Invite-only application
Credit Score Needed To Apply For Ollo Credit Card
Since both Ollo credit cards require an invite to apply, the minimum credit score required is at their discretion. But you may receive an invite with a credit score in the low 600s or upper 500s.
Burf5502 got the Ollo Rewards Mastercard with a score in the low 600s with an initial $300 credit limit. This initial limit is relatively small and other owners have made similar complaints. But after 6 to 12 months of on-time payments, you might get an automatic increase. This increase won’t affect your credit score.
Mommybear31 reports having an above-average initial credit limit of $1,500 compared to their previous credit cards. They also have positive remarks for their fraud monitoring department and the flexible 2% bonus categories.
Ollo Credit Card Online Application Steps
It’s simple to apply for Ollo credit card online.
- Once you receive an invitation, visit their website at www.ollocard.com.
- Click on the “Respond to an Offer” button in the upper right-hand corner.
- Enter your reservation number and your access code. They are both at the bottom of your offer letter.
- Click “Submit” and follow any further prompts to complete the Ollo credit card apply process.
How Contact Ollo Credit Card Customer Support
- OlloCard Customer/Mastercard customer service phone number: 1-877-494-0020.
- Calling from outside the US? Dial 1-516-224-5600.
- Ollo Card Payment Address: P.O. Box 660371 Dallas, TX 75266-0371.
Ollo Credit Card FAQs
1: What is the Ollo credit card? As a matter of fact, there are two credit cards from Ollo: Ollo Platinum MasterCard and Ollo Rewards Credit Card. Ollo offers unsecured credit cards to those people who cannot apply for better credit cards due to a low credit score.
2: Who is the Ollo credit card good for? Ollo credit cards are good for people who have fair credit and can’t get better credit cards than the ones from Ollo. Considering that these credit cards are unsecured, offer low fees and rewards, it may be a pretty good deal to get such a credit card.
3: How good is Ollo credit card? The credit cards from Ollo are quite good for people who have only fair credit and who are looking for unsecured credit cards. But if you have a good credit or you are okay with a secured credit card, there are definitely better options.
4: How to get Ollo credit card? In order to get a credit card from Ollo, you should receive an invitation from this company. Unfortunately, there is no way how you can get a credit card from Ollo otherwise.
5: What bank issues Ollo credit card? Mid America Bank, a subsidiary of Friendship Bancshares issues credit cards for Ollo.
6: What credit score do you need to get an Ollo card? You should have a credit score of at least 580 (or fair). However, you might be accepted even with a lower credit score.
7: How to apply for an Ollo credit card? After receiving an invitation from Ollo, you should go to the getmyollocard.com and enter the information from the invitation letter. Then, you will have to complete a quick application process and, eventually, apply for the Ollo Platinum or Ollo Rewards credit card.
8: Which Ollo credit card is for lower credit scores? Both credit cards from Ollo have equal credit score requirements. You should choose a credit card from Ollo primarily on the basis of whether you want to pay an annual fee and whether you want to receive cash back rewards.
9: When does Ollo Credit Card give limit increases? When the bank behind Ollo sees that you make payments on your Ollo card on time and that your credit score is improving, your credit card limits may be raised then. All in all, this all depends on how well and on time you make payments.
10: How to get a cash advance on an Ollo Credit Card You may get a cash advance on an Ollo card basically from any ATM. Keep in mind that you will be charged a cash advance fee of either $10 or 5% (whichever is greater). Besides, if that is not an ATM of Mid America Bank, you might also be charged an additional fee by the ATM.