BMO Card Closed

[Lauraist]

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@sjt wrote:

BMO Harris Bank is a US bank owned by BMO. It would not make sense to close accounts because of the tariffs. They probably closed accounts they felt were not profitable or were beyond their risk tolerance.

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The unstable situation may be considered an additional risk. BMO may have tightened its criteria on how much individual risk they will tolerate from customers. I think if the tariffs had just went into effect and stayed there instead of going up and down like a yo-yo, banks in general would be a lot less nervous.

[AndySoCal]

Over the weekend I received  a postcard ad from BMO. Basically if opened a checking account plus some other things you would get a SUB.  BMO liquid savings rates leave much to be desired. BMO Alto has the same rate as Ally at 3.60. The closest branch with an ATM is not the close to me. The commute to use the ATM I would go by one ore more Chase, Wells Fargo, Citibank and US Bank.Plus a Logix Credit Union and the bank closest to my home which is Mission Valley Bank it only has two branches. People I have talked with that bank there have nothing but nice things to say about them. So I laughed at the postcard Ad and threw it in the recycle bin.

[MNWestGraduate]

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@MNWestGraduate wrote:

Closed mine as well.     Opened the account with Bank of the West in March 2020.  Used card monthly with average spend of $300 to $600 a month, always paid balance in full each month, credit limit was $20,000 and $66 in rewards.    No other accounts with them and FICO of 810+

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I was able to redeem $65 of the $66 rewards as a statement credit, and then requested a refund check of my credit balance.   I received the check today, 8 days after calling.   My hands are officially washed of BMO.

[PKoleas]

I also had a BMO credit card that was abruptly canceled. My credit rating is in the 800s I paid off my credit card every month and suddenly without notice BMO canceled that credit card. They sent me a letter in the mail stating that my account no longer aligned with their business practices. 

[sjt]

The closure of the Harris BMO credit card accounts has nothing to do with the tariffs.

The handling of the closures was terrible but not much worse then the other bank closure of accounts. 

[Remedios]

I forgot I had this card, I did not even activate new one when BMO thing happened (probably should have locked it or something).

Last week I got a letter stating closed for non use which is absolutely factual, I did not use it one single time after getting SUB 3-4 years ago.

In any case, I ain't mad 

[IantoJones]

Spouse and I had four BotW cards at $10K each (mostly for utilization).

Converted to BMO, then all accounts reduced to $1K each.

Now, all are closed with the same scenario as described (closed as of 3/31, not notified'til mid April, still looks open with available credit on their app).

our first warning was that Apple Wallet notified "these cards are no longer available in ApplePay, contact issuer".

We just thought they needed new authentication or something, then it declined on a streaming app. Then declined at Walmart.

Then searched online, and found this thread before receiving the letters.

Alan's like several others, received "these terms are changing" and "go fish" within a day or two.

[Kforce]

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@Anonymous wrote:

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@GhostCredit wrote:

... But, what's done is done, I can't even withdraw the $11.64 either, my last transaction was last month ....

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@GhostCredit 

Your letter says-

"If applicable, you may redeem earned rewards for 90 days from account closure by visiting -said url- or calling -said number-"

Is there a reason you can't get your rewards?

Edit:

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@GhostCredit wrote:

Didn't meet the threshold of $15.

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Ok, that is kind of low down..

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My daughter was in the same boat ($10.27).

She just got her $10.27 by check 9/9/2025 from the account being closed 3/31/2025,

a mere five plus months.  

[GhostCredit]

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@Kforce wrote:

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@Anonymous wrote:

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@GhostCredit wrote:

... But, what's done is done, I can't even withdraw the $11.64 either, my last transaction was last month ....

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@GhostCredit 

Your letter says-

"If applicable, you may redeem earned rewards for 90 days from account closure by visiting -said url- or calling -said number-"

Is there a reason you can't get your rewards?

Edit:

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@GhostCredit wrote:

Didn't meet the threshold of $15.

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Ok, that is kind of low down..

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My daughter was in the same boat ($10.27).

She just got her $10.27 by check 9/9/2025 from the account being closed 3/31/2025,

a mere five plus months.  

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Thank you bro! Hopefully my check comes then ☺️