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This Is How Ollo Platinum Mastercard Reviews Will Look Like In 3 Years Time | ollo platinum mastercard reviews

A relative newcomer to the cash advance market, Ollo Platinum Mastercard was issued by the Bank of America and is marketed by Ollo Card Services. While Ollo does not specify exactly what level of credit score you should have to qualify for this card, most online reviews point out that this card is generally offered to clients with scores in the 650 to 800 range. This low maximum score on the face of the card may be considered to be a disappointment to some in the cash advance field who were expecting a higher credit limit. Even so, Ollo has recently upped their offer and is now offering a card with a higher maximum credit limit of $1000. Here are some cash advance Ollo Platinum Mastercard reviews to help you decide if this is the right card for you.

In my review of Ollo's cash advance offerings, I found that the application process was relatively smooth. There were just a few small eligibility requirements such as your income and some other general information such as whether or not you had ever had a checking account closed and any other minor banking requirements. After these were all completed, you could get started quickly and without much hassle. There was no need to wait for approval, and many consumers reported that their approval was in mere minutes.

One of the biggest disappointments with Ollo's credit cards is that they charge a very high annual fee. This fee is extremely unnecessary, especially when compared to the other competitive offers. Credit cards come with some annual fee and usually include a variety of services. By charging such a high annual fee, Ollo essentially turns its customers into bank-paid financial consultants. This makes their services a marginal service compared to other cash advance lenders offering far lower fees and better value.

As mentioned above, Ollo's credit cards also have an obnoxious annual fee that is made up of an “introductory APR”. Although this can be rather disheartening if you are looking to get a card with low interest rates, it seems that Ollo has a very short memory. They continue to charge their entire yearly fee even after giving their customers a substantial number of credit card and loan offers with better terms and conditions. There are only two different ways to pay back the introductory APR which means you will be stuck paying their exorbitant interest rate forever. This is a big problem if you are thinking of building credit since you won't be able to transfer your balance any further until you pay off the entire balance owed.

Credit card reviews often cite the ease of transferring money between online accounts as a positive feature of a credit card. However, if you are thinking about Ollo Platinum Mastercard, you will discover that they don't make any available online options for balance transfers. This may be fine for someone who has sufficient money to pay out-of-pocket and wants to avoid the higher interest rate on the new card. However, those who lack this type of money to pay the debt off in full will be disappointed with the lack of available credit. In the case of Ollo, their lack of available online options means that if you want to pay off the balance owed and keep your card, you will be stuck paying Ollo's high annual fee and extra annual percentage rate for several years while you build your credit score.

If you read Ollo Platinum Mastercard reviews, you will discover that their web site doesn't provide much information about their services or products other than the fact that they are owned by Credit Union National Bank. When searching for a card online, one should not enter credit cards offered by banks when searching because the deals will usually be terrible. Instead, enter only those credit cards offered directly by banks. The reason for this is that these banks have less competition online and can offer better rates. You should also look for online reviews of the specific card before deciding whether or not to sign up for it.

The information provided by Ollo Platinum Mastercard reviews should give you an idea of how useful their services are. Their services seem designed for those who do not have enough available credit to meet their monthly payments. Although they do have a couple of attractive benefits, such as no fees for balance transfers and no annual fees for the first six months, you will find that their fees and charges offset these benefits so that the actual card costs more than the benefits you gain from having a card. This makes it less useful to those people who have credit scores that would benefit from having an attractive card with low fees and balances that won't accrue interest until the six months is over. As well, as you probably already know, having a card with a low limit can hurt your credit score.

Ollo Platinum Mastercard Reviews have been all good in describing the features of this type of card, but their real strength has been in explaining how having a low limit can harm your credit score. As their name implies, their cards have a single credit limit that is much lower than typical cards. Credit limit levels depend on your credit score so having a good credit score is important here. If you have a low score, Ollo's cards may be a good choice because they will help you rebuild your score while still providing you with the convenience of having a card.

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