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Portfolio Manager Interview with BMO ETFs on Covered Call Enhanced Income StrategiesFor customers that have already applied for a credit card payment deferral prior to April 13, , they will automatically be provided an. This increased interest rate will take effect on the 1st day of the next statement period following the 2nd missed payment and be in effect for at least BMO has recently increased my personal line of credit interest rate by 2%. I have never missed a payment and always pay several days in advance.