Are you trying to build or rebuild credit? Then, the Ollo Rewards Mastercard is the right option for you. This credit card is issued by the bank of Missouri under the license of Mastercard. Ollo Rewards Mastercard offers its users rewards and benefits which enables them to get the credit they need to achieve their goals. This credit card is a perfect card for those looking for lucrative rewards and great bonuses. Unlike the milestone gold Mastercard which is also issued by the bank of Missouri. Ollo reward Mastercard has exciting cashback, low fees, rewards rate, and extensive benefits.
Furthermore, Ollo Rewards Mastercard is a great deal given in its target market. Certainly, the ollo credit cards offer numerous attractive features that consumers in higher credit ranges have come to take for granted. Such as the elimination of many common credit card fees. Also, Ollo rewards Mastercard does charges an annual fee, penalty rate increases, no over limit fee. No return payment fee and no foreign transaction fees. The ollo credit card mainly targets those with fair to good credit. Naturally, users of ollo are on the latter end of rebuilding their credit score but are not quite there yet. It’s very difficult to locate rewarding cards for those with less than good credit scores.
How Ollo Rewards Mastercard Works.
In addition, the Ollo Rewards Mastercard offers high-quality incentives for those whose credit scores are below par. So, if you are the type of person with fair credit, this credit card is suitable for you. On the contrary, the Ollo Rewards Mastercard is difficult to get. Unfortunately, just like other credit cards such as mercury Mastercard. Ollo Rewards card requires an invitation code to apply. This card is only available by invitation. This means that the bank of Missouri has to invite you before you apply. Also, Ollo credit card does not offer a one-time cash sign up bonus. So, this credit card is only meant for a specific group of customers. And if you don’t have any relation to the issuer, it may be difficult to get.
As a result of these restrictions, Ollo rewards is not the best option for those with poor or fair credit. More to its drawbacks is its APR. Users of ollo should note that the card comes with a variable 24.99% APR. Which is a high rate that would wipe out any rewards you earn. And compound your debt if you carry a balance on the card. Meanwhile, there are two versions of the ollo credit card. Both cards are issued by the bank of Missouri. And they are accepted anywhere Mastercard is accepted. None of the cards requires a special deposit like a secured credit card.
On the other hand, the Ollo Rewards Mastercard has an outstanding rewards rate given its price and it targets users with fair to good credit. Ollo’s low annual fee makes the rewards rate very attractive. Most times, only those who good credit have access to these huge rewards rates. For people with fair credit, this credit card has a great rate for cashback. With ollo, you get cashback on everyday spending. Primarily, you get 2% on all gas stations, grocery stores, and drugstore purchases. You get 1% cashback on all other purchases. And its annual fee is relatively low compared to others. This credit card is really amazing as it allows you to get more cashback on necessities.
Ollo Rewards card gives you 1% cash back for all other purchases that do not fall in the categories mentioned above. Irrespective of what you are buying, in as much as you use your ollo rewards card, you will earn rewards.
Benefits Of Ollo Rewards Mastercard
Apart from the substantial rewards rate and cashback, Ollo rewards Mastercard has some benefits that make it quick and easy when use. Hence, we’ll be exploring some of its benefits in the section below;
- No over the limit fees.
- No returned payment fees.
- Ollo reward card has a zero-fraud liability policy.
- It offers customers 24/7 US-based customer service.
- No foreign transaction fees
- No rate hike when you make a late payment.
- Fast, easy online, and mobile access. So, you can manage your account from anywhere.
This easy access is particularly helpful for those who like to constantly keep up with their finances.
Ollo Rewards Mastercard Application
As I have said, the Ollo Rewards Mastercard requires an invitation to apply. So, you need to need to get a particular credit score before you are invited. You may receive an invite with a credit score in the upper 500s or lower 600s. A particular person got the ollo credit card with a credit score in the low 600s with an initial $300 credit limit. The initial limit is quite small and some owners have made similar complaints. However, after six to twelve months of on-time payments, you might get an automatic increase. The increase won’t affect your credit score. Once you are invited by the bank of Missouri, you can go on to apply for the card. To apply, follow the steps below;
- Visit the ollo rewards Mastercard application page.
- On the page, enter the reservation number and access from your invitation letter to get started.
- Finally, click on the SUBMIT button.
Your reservation number and access code can be found together at the bottom of the offer letter that you received in the mail. In conclusion, the Ollo credit card is a good and stable card for those with fair credit scores.