Consumer complaint received 2025-09-13 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Fees or interest — Charged too much interest
Company: BMO BANK NATIONAL ASSOCIATION
State: CA

Complaint narrative:
In the past I reached out to BMO to request including the credit card into a debt consolitaion program. All I was asking for was to have the high interest rate reduce throught a debt consolidation program so I could have a more manageable minimum monthly payment as I was struggling financially and the credit card debt kept increasing. For months I reached out to BMO hoping to come to an agreement that would be fair and allow me to fulfill my debt obligations while still struggling financially, but BMO declined any type of attempts to include the card into the debt consolidation program. The only solution they offered was a settlement which did not aliviate my situation at all. 

Here are the complaints # s as a reference : XXXX XXXX After months of struggling to make my monthly credit card payments due to the high interest rate I was able to obtain a personal loan from a non-profit organization. The personal loan was used to pay off the credit card and I finally felt some relieved as I no longer have to worry about the high montly interest rate. 

Last month I went to the BMO website to create a one-time payment from my XXXX XXXX Account XXXX It took a few days before the payment was posted. I was gettign concerned as it was taking longer than normal. A few days ago, I visited the BMO website to make sure the payment was reflecting on the most recent statement and finally it was reflecting on the XXXX statement, however, I had a new balance of {$41.00} in interest charged. 

I called their customer service support and requested the amount to be removed as I had paid off the credit and was not clear why I was being charged an interest fee. I was told no, you owe the interest and you need to pay it. I asked to be transfered to a manager. The manage said I still owe the interest. I proceeded to ask for the items I had incurred an interest charge for as I had not made a single purchase on the credit card since XX/XX/year>. The manager than proceeded to say, it was for a balance transfer, I asked when the balance transfer was made and the amount, but that information was not provided to me as no one has access to any information. 

So BMO is charging interest on items that no one is able to provide information on as weill as charging interest on money transfers that they have no records of. I was just told I owe the interest charge and I needed paid that amount and was it but no one is able to provide an account of why I owe the {$41.00} after paying off the balance, had made no purchases since XXXX of XXXX  and withoug being able to tell me when a balance transfer happened. 

I was told another representive will call me at a later time to assist me with my questions but from my experiences in dealing with BMO, I already know that if I get so lucky to even receive a call back, it will be either be in the middle of the night when I am asleep and or during work hours when I can not answer. 

I think BMO is financially abusing their customers and use predatory lending tactics to make the most profit and keep people in debt for as long as possible...

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with monetary relief