Advertiser Disclosure

Ollo Platinum Card: $0 Annual Fee

BestCards Team

| Last updated on December 20th, 2023

Ollo Platinum Card

Ollo Platinum Card
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Fair / Poor
Mastercard Processing Network
$0 to $39 Annual Fee

Ollo Platinum Card

  • 23.99% to 28.99% variable based on creditworthiness and the Prime Rate Regular Purchase APR
  • 23.99% to 28.99% variable based on creditworthiness and the Prime Rate Balance Transfer APR
  • 23.99% to 28.99% variable based on creditworthiness Cash Advance APR

At a Glance

No annual fee. Free FICO® scores. No surprise fees. The Ollo Platinum Card offers peace of mind as you build (or repair) your credit; take advantage of low interest, no extra fees to cut into your saving, and no rate hikes when you make a late payment.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • No annual fee, no foreign transaction fees
  • Automatic credit line increase reviews
  • Zero Fraud Liability
  • Online and mobile access, 24/7 U.S. based customer service
  • Regular Purchase APR: 23.99% to 28.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR: 23.99% to 28.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Either $5 or 4% of the amount of each balance transfer, whichever is greater
  • Cash Advance APR: 23.99% to 28.99% variable based on creditworthiness
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
  • Annual Fee: $0 to $39
  • Late Payment Penalty Fee: Up to $40
  • You want a card with no surprise fees
  • You want Zero Fraud Liability
  • You want to build your credit score, or repair it
  • You want a card with 24/7 customer service and online account access

Ollo Platinum Card Review

The Ollo Platinum Card is a powerful tool to help you achieve your credit goals while saving money. Enjoy freedom from fees: you won’t be charged an annual fee, an over-limit fee, a returned payment fee, or foreign transaction fees. Additionally, if you’re late making a payment, Ollo gives you the benefit of the doubt – you won’t see a rate hike if a payment is late!

Only Available with a Preapproved Mail Offer

Ollo is an issuer that targets its card products towards those with near-prime credit. In this way, Ollo is similar to Mercury Financial, the issuer of the popular Mercury® Mastercard®. Because of this, you can’t just apply for Ollo. Instead, you’ll need a preapproved mail offer and an invitation to apply.

These mail offers are based on partial credit information purchases from third parties – the three major credit bureaus (Equifax, Experian, and TransUnion). Presorted mail offers don’t mean “guaranteed approval,” but instead that you are a good match for the product (and have good approval odds).

Related Article: Credit Cards That Don’t Require a Preapproval Mail Offer

Ollo Card Credit Score Requirements

So, who can receive an invitation?

While Ollo doesn’t disclose its full requirements, consumers with average or near-prime credit may receive an offer.  A “fair” credit score refers to a FICO Score between 630 and 689 or a VantageScore between 650 and 699. This credit score information is only part of the eligibility requirements; however, Ollo also relies on basic information like new accounts, overall credit, and other factors.

Ollo Platinum Card Features

The Ollo Platinum Credit Card has many features and benefits that might make it an attractive option if you receive an offer. One of the standout features of this card is its relatively low APR compared to other similarly marketed cards, which can help you save money on interest charges.

Additionally, the card offers a great platform for establishing a strong credit profile thanks to no annual or activation fees. There are no hidden fees with Ollo – something typically found in other similar cards. There are no over-the-limit, returned payment, or foreign transaction fees with Ollo.

Chance for Credit Limit Increases

Responsible financial behavior is rewarded – Ollo periodically reviews your account and automatically increases your credit line when you demonstrate financial responsibility. You’ll see that free FICO® scores are also available to Ollo customers online. It’s important to make your payments on time, not only with Ollo but in general – your Ollo card use will be reflected in your credit file, so make sure you don’t miss a pay period and minimize your late payments.

Other Card Offers to Consider

What can you do if you don’t have a reservation code or mail offer for Ollo? Here are a few other card options to consider, none of which require a preapproved mail offer:

Fortiva® Mastercard® Surge® Platinum Mastercard® Aspire® Cashback Rewards Total Visa® Card
Credit needed Bad – Fair Bad – Fair Bad – Fair Bad – Fair
Pre-qualify Yes Yes Yes Yes
Initial credit limit $350 $300 $350 $300
Annual fee $49 to $175 the first year; up to $49 thereafter $75 to $99 $49 to $175 the first year; up to $49 thereafter $75 1st year, $48 after*
Rewards N/A N/A 3% back on gas, groceries and utilities; 1% back on all other eligible purchases 1% cash back

Tips for Maximizing the Benefits of the Ollo Platinum Card

Cards like the Ollo Platinum are designed to help you continue your credit journey by introducing you to unsecured credit. Because of that, financially responsible behavior is the best way to maximize your value with Ollo.

Here are a few tips to speed up the process:

  • Pay your balance in full monthly to avoid adding unwanted interest charges.
  • Set up automatic payments to ensure you never miss a payment and incur late fees.
  • Monitor your credit score regularly to track your progress and eligibility for better card offers in the future.

Other Card Features

Beyond no fees and a decent APR, Ollo Platinum cardholders enjoy 24/7 U.S.-based customer service, access to Ollo’s mobile app (available on Apple’s App Store and Google Play), and a suite of Mastercard purchase protections and security features, including.

Zero Liability Protection Mastercard Global Services ID Theft Protection

Ollo Ratings

Here’s how the Ollo credit card program rates according to expert and consumer opinions:

Should You Apply for the Ollo Platinum Card?

The Ollo Platinum Card offers a range of benefits and perks that make it an attractive option for many consumers. With its decent APR and user-friendly online platform, it’s no wonder that the Ollo Platinum Card has become popular. Despite the good, however, the card’s reservation code and mail offer requirement is frustrating – and likely will keep hundreds of potential credit-builders from getting the chance to apply.  Fortunately, there are several excellent options to consider instead if you aren’t interested in waiting for that elusive code.

Browse Other Card Offers:

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Advertiser Disclosure

BestCards is an independent, Florida-based credit card comparison platform. Many of the card offers that appear on this site are from companies from which BestCards receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). BestCards does not include all card companies or all card offers available in the marketplace.