Expired Hot Deals

[BMO] Credit card 4% introductory cashback, $0 annual fee

  • Last Updated:
  • May 20th, 2017 11:52 am
Deal Fanatic
User avatar
Nov 18, 2008
5139 posts
722 upvotes
Mont-Royal
with CIBC is the worst. BMO is much better.

If I show you TD nightnames, and CIBC,...

BMO seems competent over the phone so does Tangerine.
"Every marathon you run, your heart scars and you will die faster. If you think running a marathon is fitness, then you know NOTHING ABOUT HEALTH & FITNESS."
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Newbie
Aug 6, 2008
93 posts
47 upvotes
demon1102 wrote:
May 18th, 2017 7:13 pm
IMO, BMO is one of the worst banks in Canada

Probably the worst. They raised the interest on my Line of Credit by 0.52% with absolutely no reason given. Bastards
Jr. Member
Apr 13, 2017
171 posts
51 upvotes
Burnaby
You guys need to stop associating an entire national bank with a few bad apples. It's all about the rep you have and how crafty they are for fufiling your needs.

Example is when I was with BMO they were being dicks about giving my company credit without some extensive background check. I even offered to secure it. I was ranting to my buddy and he told me I had to go see his rep.

She approves me for a $xxxx card on my company with no background check. Apparently reps have some leeway to decide on their own before a legit credit check happens. Not to mention she hooked me up with reimbursement of all bank fees for the year (no fee-less business accounts existed back then), free cheque books, and instant clearing of wire transfers.

I had a so-so experience with TD. A friend referring me to his rep and same thing happens again.

Unfortunately for me (good for her) the BMO rep got promoted =(. The new schmuck plays by the books. Which I don't mind but he doesn't take advantage of his leeway to retain customers.
Deal Addict
Sep 2, 2015
1194 posts
701 upvotes
Laval, QC
4% cash back during first 4 months, up to $125 cash back for base card, or $250 for WorldElite.
only for the first 4 mo, no thnaks
Newbie
Feb 18, 2006
84 posts
11 upvotes
Toronto
this title is so misleading...
Deal Addict
Mar 18, 2006
1255 posts
301 upvotes
KamS046 wrote:
May 18th, 2017 9:54 pm
You guys need to stop associating an entire national bank with a few bad apples. It's all about the rep you have and how crafty they are for fufiling your needs.

Example is when I was with BMO they were being dicks about giving my company credit without some extensive background check. I even offered to secure it. I was ranting to my buddy and he told me I had to go see his rep.

She approves me for a $xxxx card on my company with no background check. Apparently reps have some leeway to decide on their own before a legit credit check happens. Not to mention she hooked me up with reimbursement of all bank fees for the year (no fee-less business accounts existed back then), free cheque books, and instant clearing of wire transfers.

I had a so-so experience with TD. A friend referring me to his rep and same thing happens again.

Unfortunately for me (good for her) the BMO rep got promoted =(. The new schmuck plays by the books. Which I don't mind but he doesn't take advantage of his leeway to retain customers.
I remember calling my branch (after moving out of Province) over a decade ago. Initially, she seemed kind of cold and bitchy. Asked for my name and then asked if I was related to my <my dad's name>. After I said yes, my immediate access to deposits was bumped from 1K to 3K and that was it. This was a town of about 8000 in NFLD.

I feel like I am getting that personal experience back with Westminster Savings. However, I've deposited twice as much as I ever did at BMO and I still have 3 day (or 3 business day) hold on deposits, which is sucky. I should go in and talk to someone now that I've been there over a year.
Member
User avatar
Feb 16, 2005
397 posts
5 upvotes
Richmond Hill
BMO is incompetent.
I stopped using their card for a while, I got spammed DAILY for a month saying that I haven't been using the card and to come back and use it.
I got fed up and cancelled my card and the incompetence continued. I had 0 balance for the past two years. I received a bill after I cancelled my card for $25 for some kind of cash back chargeback that counted as a cash advance. I never even had cash back near $25 in the past few years so I don't even know where they came up with that amount. I called in irate and they reversed it. But because it was a cash advance I ended up with an interest charge on my next bill. I called in AGAIN and they reversed the interest. Then my next bill came and there was an EFFEN PENNY OF INTEREST. It took 4 phone calls to cancel my credit card. F BMO. They can rot.
Deal Addict
Sep 7, 2004
1141 posts
184 upvotes
Very misleading title. Needs to be changed to reflect that 4% is introductory cashback rate only.
Member
Mar 12, 2008
440 posts
50 upvotes
serjiang wrote:
May 18th, 2017 9:43 pm
Probably the worst. They raised the interest on my Line of Credit by 0.52% with absolutely no reason given. Bastards
Check your credit score. I had TD jacked up my rate on my credit line and when I checked my score it went down 5/6 points. If your score goes up your interest rate on your credit line would go down automatically
Sr. Member
User avatar
Aug 8, 2015
746 posts
699 upvotes
Toronto
serjiang wrote:
May 18th, 2017 9:43 pm
Probably the worst. They raised the interest on my Line of Credit by 0.52% with absolutely no reason given. Bastards
That tells me you're bad at managing your debt. The interest rate charged on loans is closely tied to your credit history.
Don't blame BMO for your fault.
Member
Jan 31, 2010
315 posts
84 upvotes
St. John's
A lot of negative comments here for BMO, and some of it is warranted. I've been a BMO customer for many years with mortgage, chequing and now mastercard. I gotta say, the BMO Rewards Elite Mastercard is great, 2% on every dollar spent for bmo rewards. From my research, the prices charged for flights on bmo rewards is equal or very near equal for prices found on Google's ITA matrix website.

In saying that, the one downside is not only the $150 annual fee, but, started this past year (which I got waived, but was told it won't be waived any longer), a secondary card for my wife will cost an extra $50. So, we will be in the market for a new card, but, it's a shame because I have really enjoyed the World Elite card with the priority passes, the 2% return and the really good rewards site. We put so much cash through this card, I'm very disappointed that an extra card will now cost us more when it didn't before, it seems very cheap on the company. I'm sure there are other credit card companies that will value our merchant fees.
Deal Addict
Aug 7, 2008
2241 posts
845 upvotes
Montreal
cquilliam wrote:
May 18th, 2017 11:01 pm
A lot of negative comments here for BMO, and some of it is warranted. I've been a BMO customer for many years with mortgage, chequing and now mastercard. I gotta say, the BMO Rewards Elite Mastercard is great, 2% on every dollar spent for bmo rewards. From my research, the prices charged for flights on bmo rewards is equal or very near equal for prices found on Google's ITA matrix website.

In saying that, the one downside is not only the $150 annual fee, but, started this past year (which I got waived, but was told it won't be waived any longer), a secondary card for my wife will cost an extra $50. So, we will be in the market for a new card, but, it's a shame because I have really enjoyed the World Elite card with the priority passes, the 2% return and the really good rewards site. We put so much cash through this card, I'm very disappointed that an extra card will now cost us more when it didn't before, it seems very cheap on the company. I'm sure there are other credit card companies that will value our merchant fees.
Hey did your wife get 4 MORE priority passes with the additional card?
Deal Addict
Aug 24, 2016
1768 posts
850 upvotes
psommerfeld wrote:
May 18th, 2017 7:47 pm
I didn't know there were RFD rules for credit card incentive. Where do I find those?
The base case has a $125 incentive, if you purchase $3,125 within first 4 months, which is not hard if you run a business as I do.
The real problem is, after the cold sign up bonus, it just becomes another useless 1% card.
Even Amex Simply Cash is far superior to this "deal"
Jr. Member
Apr 13, 2017
171 posts
51 upvotes
Burnaby
daviiiiiid wrote:
May 18th, 2017 11:16 pm
Hey did your wife get 4 MORE priority passes with the additional card?
Yeah that pissed me off too (secondary card). I'm still figuring out if it's worth it to keep the secondary card and pay the fee or get mom different card altogether. Probably the latter since the points don't make up for the extra cost. booo BMO boooo

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