Credit card-Ollo Platinum Card

[BxRcvor]

There can be negative consequences to reducing your credit line; from my perspective, the single most impactful consequence is when one or more cards report a balance on the monthly statement, the total value of balances is calculate as a percent of credit used; the lower your overall credit limit, the higher the percentage for any given amount. If you step over 8.9% utilization, your credit scores will drop.

I'm well over 8.9% now anyway. I have some room to reduce and improve the score. But I will keep that in mind. Thanks.

[ope2]

Just a caveat on this card - I've been getting constant offers from Ollo since last Fall. Every one of them says "pre-approved". I finally applied...and was DENIED!! Oh, I've been steaming about this. Took a hard inquiry to my credit for nothing. Wish they were not allowed to say pre-approved if you are not guaranteed to be accepted for at least some amount.

[Carmella]

I was bombarded with their offers as well. And I applied during BK 13 and they approved for $1,500. My husband is still getting the constant offers. He really doesn't want a card and I keep thinking should we try Ollo or should we go with a different brand. Not that he wants a credit card, but I figure we both should have one and use it sparingly.

[shipo]

After a many month hiatus from getting Ollo offers in the mail, probably at least a year since the last one, I got a new offer yesterday; it immediately went into the trash.

[justbroke]

It's fun to treat credit card offers as trash. I now get several per week. So far this week, I have received about 7 credit card offers, an offer from Point (they do a special home equity "investment" loan), and several offers for personal loans. What I don't receive, are offers for car loans in the mail. I have, however, received car loan offers from PenFed and another bank this week.

I get mail every day. It's averages about 5 mail pieces per day. Mostly junk and advertising. At least there are no collection notices!

[Carmella]

It's fun to treat credit card offers as trash. I now get several per week. So far this week, I have received about 7 credit card offers, an offer from Point (they do a special home equity "investment" loan), and several offers for personal loans. What I don't receive, are offers for car loans in the mail. I have, however, received car loan offers from PenFed and another bank this week.

I get mail every day. It's averages about 5 mail pieces per day. Mostly junk and advertising. At least there are no collection notices!

Same here we are getting tons of offers and they go to the shredder.

I check my Informed Delivery email and see pictures of all the credit offers and keep scrolling to the end.

But we are also getting tons of car loans or advertisements from dealerships.

[justbroke]

I check my Informed Delivery email and see pictures of all the credit offers and keep scrolling to the end.

USPS Informed Delivery is why I hardly go to the mailbox. It's all junk credit card offers and loan offers. I go the box once a week so as not to annoy my mailman. My mailbox is always filled to the brim by Sunday!

[flashoflight]

USPS Informed Delivery is why I hardly go to the mailbox. It's all junk credit card offers and loan offers. I go the box once a week so as not to annoy my mailman. My mailbox is always filled to the brim by Sunday!

Because my ch13 bankruptcy allowed me to spend money on my needs instead of creditors, I replaced my very old traditional mailbox with a locking Mail Boss mailbox that can hold about a week's worth of mail. I use the USPS Informed Delivery to see if I need to empty the mailbox. Once or twice a week, something important shows up and I empty the box.

I fondly remember the days when I would receive mail from Radius Global Solutions, Midland, Portfolio, Zwicker, Michael & Associates, Hunt & Henriques, NCB, and many others. NOT!!!!! They are gone from my life. Informed Delivery would have been a series of nightmare emails if they had it back when I was being hunted by creditors. I had so many on me that I'm surprised nobody came to my house to bust my knee caps.

Today, I am seeing a ton of fintech home equity investments, personal loans, mortgage refi, and subprime credit offers. I have seen zero auto loan offers since 2019. PenFed is the only non-subprime pre-approved credit card offer we've received since 2017 when everything went south financially for us.