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Friday, October 23, 2026 Independent since 2026. We are not a lender.
Hub for Credit

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Ollo® Rewards+ for Educators Mastercard®: annual fee, APR and rewards

Fact sheet for the Ollo® Rewards+ for Educators Mastercard®, issued by Ollo (Merrick Bank), with no annual fee and cash back. Every detail below comes from the issuer’s pricing and terms pages, checked on the date shown at the end of the page.

IssuerOllo (Merrick Bank)
NetworkMastercard
Annual fee$0
RewardsCashback: 3% at gas and EV charging stations, grocery stores and drugstores; 1% on all other purchases; no limit on the cash back you can earn
Purchase APRVariable APR: 24.99% - 28.99%
Balance transfer fee4% or $5, whichever is greater
Foreign transaction feeNone
Credit levelExcellent, Good, Poor, Limited (tiers the issuer reports to the CFPB)

What new cardholders actually got

In the CFPB's Terms of Credit Card Plans survey for July to December 2025, new accounts on this card got a median purchase APR of 28.74%, with a range of 24.49% to 28.99%. The advertised range above is what the issuer offers today; the survey shows where approved applicants landed.

Source: Consumer Financial Protection Bureau, Terms of Credit Card Plans survey.

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Checked on October 16, 2026 on the issuer's official site. Terms change: confirm before you apply. ollocard.com/credit-cards/rewards-plus-educato… · merrickbank.com/credit-card

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Every article is checked against primary sources: the Consumer Financial Protection Bureau, the Federal Reserve and issuer terms. When a number changes, we update the piece and say when.

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Hub for Credit publishes independent information about credit cards, loans, and consumer finance. We are not a bank, a lender, or a card issuer, we do not extend credit, and we do not broker applications. Nothing here is personalized financial advice.