So I got an Albino Oscar the other day and he is maybe and inch or two big. It is currently in a 55gallon tank, but i am picking up a 150 gallon tank soon. Could i put him in there and have him in there till i can afford more filter systems? Im thinking that if this guy gives me the under-gravel filter that i can just have that going without any gravel/sand. I need all the help and advice i can get! Thanks!

He will be okay in your 55 gallon tank. I would be inclined to put him in a big tank when it has enough filtration. You can't have an under gravel filter without gravel

if i were you id have a good read up about it first you need too know what your doing too be honest.

You could put him in there , but you'd still have to cycle the new filter.
I think it's best to get the proper filtration that you need to filter the whole capacity of your new tank, get that setup running and then transfer the fish.
A filter on an oscar tank should have at least a flowrate of twice the volume of water in the tank per hour.

A under gravel filter (UGF)needs gravel to work (the clue is in the name ). The gravel works as part of the filter. Also oscar dig and when they dig the gravel down to the UGF plate the UGF no longer works