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How Do I Increase My BMO Credit Card Limit?Over Limit Fee: charged on the day your current balance exceeds your credit limit and at the beginning of each subsequent billing period if your account. The credit limit is set by the card issuer based on factors like your credit score and financial history. Adding money may temporarily increase. The BMO Preferred Rate Mastercard offers a low rate of % on balance transfers for the first 9 months, and then enjoy permanent low interest rates of %.