Ally Banks' vision is to be a relentless ally for their financial well-being. Their commitment to their customers has been at the core of who they are for nearly 100 years. Committed to constantly creating and reinventing with the singular purpose of making a real difference for their customers. That's why they offer award-winning... show more
Ally Bank Reviews
The WalletHub rating is comprised of reviews from both WalletHub users and ratings on other reputable websites. The rating was last updated on 02/07/2023.
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1 Star Rating
High Interest rate even for the very good score. I had the credit score of 812 when applied for the car loan and got 8.09% APR which is very bad
Excellent card and I use it a lot. I lost the original card and ordered a replacement in December 2022 and it's now Feb 2 2023 and haven't received it yet. Every time I call they say it's in production. This is getting really stupid when they can not even produce a replacement card!
I called Ally bank on Monday, 1/30/2023 and requested to close my savings account and to transfer the funds (Over 25K) back to the original funding account. This was due to their low interest rate on savings and my intent was to invest elsewhere at higher current rates. As of close of business Wednesday, 2/01/2023, I checked the Ally website and the account was still open. When I called to inquire why the account was not closed and my funds not credited to my original funding account, I was told there was an un unusually high requests for account closings and my request would be delayed. The customer service rep could not tell me for how long the closing would be delayed, or when I could expect to receive my funds. Holy Cow! is this 1920? I have filed a complaint with the Federal reserve Consumer Help, and hope to see my savings again....
I have had my online savings account for about 10 years. Never had a problem. The interest rate is great! To compare, I have a no interest checking account with my local bank. Opened a savings account with them, low 5 figures. Earned CENTS in interest every month. My Ally online savings, low 4 figures, earns DOLLARS in interest every month. For the purpose of saving money and earning interest, Ally is head and shoulders above the rest. For my everyday transactions, I still use my no interest checking/ debit account with my local bank.
I used Ally to close a 30 year fixed rate loan in January of 2020. It's different with an online lender and you have to do a lot of follow up on your own. You just have to get used to checking online and submitting and sometimes resubmitting requested docs and info, However you could not beat Ally on rates and closing costs, and once the credit report, appraisal and underwriting were all approved, it closed quickly and without any problems. Very happy with Ally.
I started working with beyond financial and was told by them to stop paying on my cards or anything else I was currently paying on time because it would make it harder for them to negotiate a settlement u was not behind on any of my credit cards at the time I wanted help with other accounts now I have a mess either these card companies assessed fees and outrageous interest
As a function of the U.S.A. Federal Reserve raising and lowering the Fed Funds Rate.
Ally is slow to raise interest rates on their online Savings account, but are very quick to lower them when the Fed lowers theirs. However, to their credit when the Fed Funds Rate was at 0 to .25 basis points, Ally Bank continue to pay .50 or 1/2% point on my accounts. This seemed to be due to the fact that they have a strong and well-established business in providing direct consumer auto loans.
If they would SIMPLY STOP lagging so far behind when the Federal Reserve is in an interest rate raising mode, Ally could be the very top competitor in the Online Savings industry.
But they do eventually automatically raise rates on their establish customer accounts. Most of the others Online Savings bank give a high teaser interest rate to a new customers and that rate will only change by being lowered when the Fed lowers their Fed Funds interest rates.
The starting credit limit for the Ollo Platinum Mastercard® will be based on your creditworthiness once your application has been approved. However, there's no surefire way of knowing your credit limit beforehand as the issuer does not disclose this information on their website.
Factors that will determine your Ollo Platinum Mastercard® credit limit:
The length of your credit history
Keep in mind that even if your Ollo Platinum Mastercard® starting credit limit is relatively low, you might qualify for a credit limit increase after some time. You can improve your odds of getting a credit limit increase by always paying your bills on time and in full.
The starting credit limit for the Ollo Rewards Mastercard® is $300 or more, according to anecdotal reports. Some users even reported getting a starting limit as high as $2,500. However, the issuer does not include any specific credit limit information in the card's terms, though.
For the most part, Ollo Rewards Mastercard® credit limits depend on each applicant's overall creditworthiness. Those with the highest income and best credit scores will generally be offered the highest starting credit limits.
How to get a higher Ollo Rewards Mastercard® credit limit
That said, the Ollo Rewards Mastercard® credit limit that you start with isn't necessarily your credit line forever. You can ask to get a credit limit increase by calling the issuer's customer service number on the back of your card. However, it's best not to do that more than once a year.
The issuer will also evaluate your account periodically to determine whether you are eligible for a credit limit increase. Paying on time and keeping your credit utilization low are key for getting unsolicited credit line increases.
If you have an invitation, you can use the reservation number and access code from it to apply online. Alternatively, you can apply by filling out and sending back the application form that came with your invitation.
Your approval odds are good even with fair credit. Just keep in mind that the issuer will also look at your income, debts, and payment history to determine your eligibility for a new account.