Ollo Platinum Mastercard

Ollo Platinum Mastercard Review

This is a card issued by The Bank of Missouri. If you're wondering whether Ollo Platinum Mastercard is the right card for you, read on.

Key Takeaways

• High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR that ranges from 24.99% up to 27.99%.
• Rewards program. This credit card offers rewards on your purchases, but you will have to pay an annual fee of up to $39 for the privilege.
• Annual fee waived the first year. Ollo Platinum Mastercard gives you the chance to have the card for a year without paying the $0 annual fee.
• 4% Balance transfer fee. Ollo Platinum Mastercard charges a fee of 4% on balance transfers. For example, a balance of $1,000 could cost $40 in transfer fees. The minimum fee is $5.
• No foreign transaction fee. This card does not charge a fee when you make a purchase that passes through a foreign bank, or is in a currency other than the U.S. dollar (USD), which makes it a great credit card to carry when traveling abroad.
• Fair or better credit required. You will have good approval odds if your credit score is above 580.

Pros & Cons of Ollo Platinum Mastercard

The Good	The Bad
Annual fee waived during the first year. Free access to your credit score. Considers applicants with fair credit. No foreign transaction fee. Ollo Platinum Mastercard reports to multiple credit bureaus.	Higher than average purchase APRs. Does not offer a signup bonus. Does not offer rewards or cash back. You don't earn rewards on every purchase. Charges a 4% balance transfer fee. Does not include many credit card benefits.

Ollo Platinum Mastercard FAQ

Does Ollo Platinum Mastercard have a cash back or rewards program?

No, it does not offer a rewards program.

What are the Ollo Platinum Mastercard benefits?

It provides the following benefits:

• Free Credit Score
• Zero fraud liability
• Reports to major credit bureaus

What are the relevant APRs for Ollo Platinum Mastercard?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has higher than average regular APRs.

Ollo Platinum Mastercard has a variable purchase APR that ranges from 24.99% up to 27.99%. The card has a variable balance transfer APR that ranges from 24.99% up to 27.99%. It also has a variable cash advance APR that ranges from 24.99% up to 27.99%.

The good news is this card does not charge a penalty APR if you are late on a payment.

What are the fees for Ollo Platinum Mastercard?

The following fees apply:

• There is no overlimit fee

Ollo Platinum Mastercard Fees

Fees	Amount
Annual Fee	Starting at $0 up to $39
Overlimit Fee	$0
Foreign Transaction Fee	0%
Returned Payment Fee	$0
Late Payment Fee	$40

Does Ollo Platinum Mastercard report your account activity to credit bureaus?

Yes, Ollo Platinum Mastercard reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Ollo Platinum Mastercard

• Visit the Ollo Platinum Mastercard website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.