Advertiser Disclosure

Ollo Rewards Card: Up to 2% Cash Back

BestCards Team

| Last updated on December 21st, 2023

Ollo Rewards Card

Ollo Rewards 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 Rewards Card

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

At a Glance

Earning unlimited cash back has never been easier thanks to the Ollo Rewards Mastercard; earn more from every dollar you spend and save money even as you make everyday purchases. Cardholders will earn 2% cash back on gas, groceries, and drugstore purchases in addition to 1% back on everything else and no surprise fees or penalty APRs. This is how to build credit – the right way.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • Low, competitive annual fee
  • Unlimited 2% cash back on gas station, grocery store and drugstore purchases. 1% cash back on all other purchases.
  • No foreign transaction fees, no over the limit fees, no returned payment fees
  • Zero Fraud Liability
  • Regular Purchase APR: 23.99% to 28.99% variable based on creditworthiness
  • Balance Transfer APR: 23.99% to 28.99% variable based on creditworthiness
  • 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 are looking to build your credit score, or repair it, while earning up to 2% unlimited cash back
  • You want a card with 24/7 customer service and online account access

Ollo Rewards Card Review

The Ollo Rewards Card is an invite-only cash back credit card for people with average credit scores. Unlike the Ollo Platinum Card, the Ollo Rewards Card comes with a varying annual fee based on the offer received. That annual fee with the card ranges from $0 to $39, which is very competitive, given the card’s credit score requirements.

Invitation to Apply Needed

Ollo is an issuer that targets its card products towards those with near-prime credit. In this way, the Ollo Rewards Card is similar to the Mercury® Mastercard®, another rewards card for fair credit.  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

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.

How to Earn Rewards with Ollo

Building or repairing credit can be tough – but it can also be rewarding when you use the Ollo Rewards Card.  Freedom from surprise fees is a big draw for Ollo cards – but the ability to earn cash back on everyday purchases – up to 2%, makes this credit card for building credit stand out from the competition. Cardholders can earn unlimited cash back rewards, broken down as follows:

  • 2% cash back for all purchases at gas stations, grocery stores, and drug stores
  • 1% cash back on all other purchases. Yes, on all other purchases.

This cash-back earning makes building or rebuilding your credit extremely easy – save money on purchases you already make using your Ollo card. Buy the things you need, like gas to get to work and groceries for lunch and dinner, and get cash back from making those purchases!

How to Redeem Rewards

Cash back rewards with Ollo never expire as long as your account is open. That’s great news, but the redemption options are minimal – at best. Cardholders can only opt to redeem rewards as a statement credit. According to Ollo, this streamlines the credit card process and provides a straightforward reward structure. Still, it’s limited.  

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

Other Card Features

In addition to unlimited cash-back power, the Rewards Card from Ollo features a low annual fee and freedom from surprise fees: there’s no over-limit fee, no returned payment fees, no foreign transaction fees – and best of all, you won’t see a rate hike when you make a late payment. Folks who demonstrate financial responsibility will be happy to know that Ollo periodically reviews their account, and their credit limit will automatically increase if they consistently make on-time payments and show fiscal responsibility.

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 Rewards Card?

Those looking to repair their credit can benefit form a subprime credit card like the Ollo Rewards. There aren’t many cards for bad credit that offer rewards with every purchase. Unfortunately, Ollo, like other cards such as the Mercury Mastercard, requires an invitation code to apply. Because of this limitation, the Ollo Rewards isn’t the best option for those with fair or poor credit. Equally disappointing with the card is the APR. For a card requiring a reservation code, you’d expect a better purchase APR. That’s not the case with the Ollo Rewards Card, however.

Browse Other Card Offers:

Editorial Disclosure – The opinions expressed on's reviews, articles, and all other content on or relating to the website are solely those of the content’s author(s). These opinions do not reflect those of any card issuer or financial institution, and editorial content on our site has not been reviewed or approved by these entities unless noted otherwise. Further, lists credit card offers that are frequently updated with information believed to be accurate to the best of our team's knowledge. However, please review the information provided directly by the credit card issuer or related financial institution for full details.

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.