When it comes to cashback, there are a number of credit cards out there that will offer you 2% back on all of your purchases. Because of that, I typically recommend that people look for credit card products that offer at least that amount in cashback. Otherwise it would just make sense to get one of the 2% credit cards. That being said, there is a new credit card that is offering 2.5% back on all of your purchases
Credit Card Summary
In the past, Ollo has went after the rebuilder market of credit, however, this is their first jump into a card that can be used by those of us in any credit range. The Optimum card from Ollo is offering 2.5% back on all of its purchases.
Unfortunately, while the reward category is nice, there are a couple of caveats. The first f which being that there is no sign up bonus when you apply for the card. Additionally, there is no online link to apply for the card, you have to be invited to apply. On the plus side, there is not an annual fee or foreign transaction fees, making it a great all arounder if you happen to get invited.
Assuming that Ollo can keep the card the same as it stands now, this looks to be one of the best cashback cards out there in my opinion. While many praise the Double Cash, I always thought that the PayPal 2% card was better due to the ease of getting increased credit limits and the lack of foreign transaction fees.
Everything seems to be in the right place for the Ollo card to be a good one. The only hard part may just be getting an invitation for the card. We’ll see if the invitation only restriction sticks or not! It would be interesting to see what would happen if they opened up the application to everybody.
Have you been invited to apply for the Ollo card? Let us know below your thoughts on it!