For whatever reason you may have you might want to cancel your MasterCard from the Bank of Montreal.
Maybe your purse or wallet is just too big, and one less card is one less card in your pocket so that you don’t spend money on your credit cards in the first place, or maybe you’ve got a beef or complaint with the Bank of Montreal and there’s no way you are going to give them any more of your hard earned money so that they can charge your interest.
The first step you have to make when you want to cancel your Bank of Montreal Mastercard is to be sure you are not carrying a balance of any kind whatsoever on your credit card to begin with. This might sound silly but you have to pay off your Bank of Montreal Credit Card before you can cancel it.
Imagine if that were not the case? You could call up the Bank of Montreal Mastercard people and just cancel, even if you carry a balance? It would be great but you’re dreaming. If you have a balance of any kind, the Bank of Montreal needs to – and deserves to be paid off in full before you can cancel your mastercard from the Bank of Montreal, or any other bank in Canada for that matter. You were silly enough (well, maybe silly isn’t the right word. I don’t know your finance so I should not make any assumptions) to rack up the charges on your Bank of Montreal Mastercard, so now it’s time to pay up and pay off in full if you want to cancel the card.
First, find your last statement and be sure the balance on your MasterCard is actually zero. Don’t forget that there might be just one more interest charge even though you have already paid off your card in full. (or so you thought). What might have happened is you paid off the card, but due the grace period BMO can , and will charge you for that little last bit of interest.
The Bank of Montreal, or any other bank is not trying to soak you by doing this, either. You agreed to their cardholder agreement and probably in all that small print is one little sentence or two about grace periods and minimum payments. Just be warned: just because you think you’re paid off, it might be good to call the bank of montreal and be sure to check that your records match and they feel the same way too.
But once you have them on the phone you’re halfway there. Tell them you want to cancel your Bank of Montreal Mastercard. Be prepared for some resistance to this too. You have been a very good customer over the years, and they don’t want to lose you and spend a lot of money on billboards and buses and tv ads to get new customers just like you. They probably just won’t go – Oh, OK. The bank will ask you why, and while it’s probably none of their business, tell them the truth whatever that may be. They might try to get you on another card or sweeten the deal in some way and that’s up to you whether you switch your credit card from Bank of Montreal rather than canceling outright. But don’t let the Bank of Montreal talk you in to anything you don’t want either. Nobody cares about your money as much as you do, so if you wish to cancel your Bank of Montreal Mastercard all you have to do is call them up or check in at one of many of the Bank of Montreal locations, or even contact them at the Bank of Montreal website and the Bank of Montreal will be able to help you when you want to cancel your Bank of Montreal Mastercard
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