BMO Ascend World Elite Mastercard Review: Is It Worth It?
The BMO Ascend™ World Elite®* Mastercard®* is a rewards credit card with an annual fee of $150. Cardholders can redeem BMO Rewards points for travel bookings, merchandise, investment accounts and more.
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Points for every $1 spent on eligible travel purchases.
Points for every $1 spent on eligible dining purchases.
points for every $1 spent on eligible entertainment purchases.
Points for every $1 spent on eligible recurring bill payments.
Point for every $1 spent everywhere else.*
This card offers a healthy return on travel spending, complimentary airport lounge access and robust travel insurance for added peace of mind. But high annual income criteria will put it out of reach for some. Best for: Higher-income earners seeking competitive rewards on travel dollars spent.
Pros
- Up to 5x points per eligible dollar spent.
- Four free airport lounge visits annually.
Cons
- High $80,000 individual or $150,000 household annual income criteria.
- Get up to $1,600 in value including up to 100,000 points, Mastercard Travel Pass & 4 Complimentary Lounge Passes, NEXUS Statement Credit and the annual fee waived in the first year for both the primary cardholder and authorized users.¹ Plus, get a 0% introductory interest rate on Balance transfers for 12 months with a 2% transfer fee.∆∆∆
- 5x the points for every $1 spent on eligible travel purchases,* 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments,* 1 point for every $1 spent everywhere else.*
- Now get the highest rewards points for travel of any premium flexible travel card in Canada!†
- Complimentary membership in Mastercard Travel Pass provided by DragonPass,* with four annual complimentary passes.
- Access over 1 million Wi-Fi hotspots around the world - all at no added cost, and no added fees or roaming charges.*
- Get valuable benefits and offers for digital everyday services from a variety of on-demand apps and subscription services.
- Points you can use to cover all flight charges & taxes.*
- Fly on any airline, with no blackout dates.*
- Best-in-class travel and medical insurance (unlimited trips per year).*
- BMO Concierge Service.*
- Unlock Mastercard Travel Rewards cashback offers when you travel and shop outside of Canada.
- Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
- *Terms and conditions apply.
- BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
BMO Ascend World Elite Mastercard full review
The BMO Ascend World Elite Mastercard earns between one and five BMO Rewards points per CAD spent, depending on the type of purchase you make. The card comes with an impressive suite of travel insurance and perks, such as up to $5 million in travel medical coverage and four free airport lounge passes per year.
Benefits of the BMO Ascend World Elite Mastercard
High travel medical insurance coverage: up to $5 million.
Mastercard Travel Pass membership provided by DragonPass, and four free passes per year.
Up to 25% discounts at National Car Rental and Alamo Rent A Car, and up to 5% off at Enterprise Rent-A-Car.
Drawbacks of the BMO Ascend World Elite Mastercard
As a travel rewards card, the BMO Ascend World Elite Mastercard drawbacks include:
A 2.5% foreign transaction fee on purchases made in other currencies.
Who should get the BMO Ascend World Elite Mastercard?
People who spend big on travel will get the most out of this card’s highest earn rate (5x), free airport lounge membership, travel insurance coverage and rental car discounts.
Is the BMO Ascend World Elite Mastercard worth it?
The BMO Ascend World Elite Mastercard may be worth it if you pay for airport lounge access and insurance when travelling — the card’s free DragonPass membership (valued between USD$99 and USD$429) and four free passes, plus the complimentary travel insurance, can save you money.
BMO customer ratings
Below average in customer satisfaction: BMO ranks 12th out of 14 issuers in J.D. Power’s 2025 Canada Credit Card Satisfaction Study.
Low Trustpilot rating: BMO Financial group has 1.4 out of 5 possible stars based on more than 180 customer reviews, as of this writing.
Low Better Business Bureau rating: BMO has 1.13 out of 5 possible stars based on more than 100 customer reviews, as of this writing.
BMO Ascend World Elite Mastercard eligibility
Who qualifies for the BMO Ascend World Elite Mastercard?
To apply for the BMO Ascend World Elite Mastercard, you must:
Be at least the age of majority in your province or territory.
Have not declared bankruptcy in the last seven years.
Have an annual income of at least $80,000 ($150,000 for households).
Approximate credit score needed for approval
Canadian credit card issuers rarely disclose required credit scores, which makes it hard to know your chances of approval when comparing credit cards. However, higher scores generally mean better chances of approval, and that’s true regardless of the type of credit you’re applying for.
Want to learn more? Visit our “What Credit Score is Needed for a Credit Card?” page.
BMO Ascend World Elite Mastercard rewards
Earn up to 90,000 BMO Rewards points.
Get 45,000 points when you spend $4,500 in the first 110 days of opening the account — roughly three months).
Collect up to 45,000 more points in the first 15 months. After the 110 days, spend at least $2,500 each billing cycle to earn an additional 3,750 points (until 482 days after opening the account — roughly 15 months).
Plus, the first year’s annual fee is rebated ($150 value).
Offer expires June 1, 2025, as of this writing.
Earn 5x BMO Rewards points on eligible travel purchases (up to $15,000 annually).
Earn 3x BMO Rewards points on eligible entertainment, dining and recurring bill payments (up to $10,000 annually for each spend category).
Earn 1x BMO Rewards points on everything else.
According to the BMO website, 150 BMO Rewards points equals $1 when redeemed for travel-related purchases.
For example: If you earn 45,000 points through the welcome bonus and, each month, spend $700 on travel (5x points), $500 on dining, entertainment, and recurring bills (3x points), and $500 on other eligible purchases (1x points), you would accumulate 111,000 BMO Rewards points after your first year.
That’s a value of $750 when redeemed on travel-related purchases, according to BMO’s estimation.
Rewards calculator: See how many points you can earn
BMO Ascend World Elite Mastercard vs BMO AIR MILES World Elite Mastercard
If you’re looking for a travel credit card from BMO but aren’t married to the idea of BMO Rewards points, you might consider the BMO AIR MILES®† World Elite®* Mastercard®*. The cards have similar annual fees, but differ in the rewards they earn. While BMO Rewards points can be redeemed for travel bookings and merchandise, as well as used to fund investment accounts and pay for purchases, AIR MILES can be redeemed for cash rewards, merchandise and travel bookings.
Rewards breakdown
Rewards breakdownPoints for every $1 spent on eligible travel purchases.
Points for every $1 spent on eligible dining purchases.
points for every $1 spent on eligible entertainment purchases.
Points for every $1 spent on eligible recurring bill payments.
Point for every $1 spent everywhere else.*
NerdWallet's take
NerdWallet's takeThis card offers a healthy return on travel spending, complimentary airport lounge access and robust travel insurance for added peace of mind. But high annual income criteria will put it out of reach for some. Best for: Higher-income earners seeking competitive rewards on travel dollars spent.
Pros
- Up to 5x points per eligible dollar spent.
- Four free airport lounge visits annually.
Cons
- High $80,000 individual or $150,000 household annual income criteria.
Card details
Card details- Get up to $1,600 in value including up to 100,000 points, Mastercard Travel Pass & 4 Complimentary Lounge Passes, NEXUS Statement Credit and the annual fee waived in the first year for both the primary cardholder and authorized users.¹ Plus, get a 0% introductory interest rate on Balance transfers for 12 months with a 2% transfer fee.∆∆∆
- 5x the points for every $1 spent on eligible travel purchases,* 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments,* 1 point for every $1 spent everywhere else.*
- Now get the highest rewards points for travel of any premium flexible travel card in Canada!†
- Complimentary membership in Mastercard Travel Pass provided by DragonPass,* with four annual complimentary passes.
- Access over 1 million Wi-Fi hotspots around the world - all at no added cost, and no added fees or roaming charges.*
- Get valuable benefits and offers for digital everyday services from a variety of on-demand apps and subscription services.
- Points you can use to cover all flight charges & taxes.*
- Fly on any airline, with no blackout dates.*
- Best-in-class travel and medical insurance (unlimited trips per year).*
- BMO Concierge Service.*
- Unlock Mastercard Travel Rewards cashback offers when you travel and shop outside of Canada.
- Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
- *Terms and conditions apply.
- BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
Rewards breakdown
Rewards breakdownMiles for every $12 spent at participating AIR MILES Partners
Miles for every $12 spent at any eligible grocery store.
Miles for every $12 spent at any eligible wholesale clubs, membership-based retailers and alcohol retailers.
Mile for every $12 that you spend with your credit card everywhere else.
NerdWallet's take
NerdWallet's takeWith fuel discounts, travel benefits and impressive earn rates — up to 3 Air Miles for every $12 spent — the BMO AIR MILES World Elite Mastercard offers frequent flyers an elevated travel experience at a great value. But the steep income requirement could be a dealbreaker. Best for: Air Miles collectors who want to maximize their Mile-earning potential.
Pros
- Strongest Air Miles earn rates on the market.
- Discounted airport lounge access for $32 USD per visit.
- Annual 25% discount on one Air Miles flight redemption.
Cons
- No priority airport services.
- $80,000 individual or $150,000 household annual income requirement.
Card details
Card details- Welcome offer: Get up to $1,000 in value including up to 7,000 AIR MILES Bonus Miles and no annual fee in your first year.* Plus, get 0% introductory interest rate on Balance transfers for 12 months with a 2% transfer fee.*
- Earn over 10x faster than other AIR MILES collectors: Get 3x the Miles for every $12 spent at participating AIR MILES Partners and 2x the Miles for every $12 spent at any eligible grocery store*.
- 2x the Miles for every $12 spent at any eligible wholesale clubs, membership-based retailers and alcohol retailers.*
- Plus, 1 Mile for every $12 that you spend with your credit card everywhere else.*
- Plus, you now have the flexibility to move your Miles between Cash and Dream with our new Transfer Miles feature, so if you want to turn your Cash Miles into a dream vacation, go for it!
- Complimentary membership in Mastercard Travel Pass provided by DragonPass.*
- Use less Miles with our exclusive 25% discount on one worldwide AIR MILES flight redemption during the calendar year.*
- BMO AIR MILES World Elite Travel and Medical Protection.*
- Unlock Mastercard Travel Rewards cashback offers when you travel and shop outside of Canada.
- Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
- *Terms and conditions apply.
- BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
Reasons you might want a different card
You may want to consider a different card if you:
Typically carry a balance and want a lower interest rate.
Do not travel regularly enough to benefit from the card’s travel earn rates and perks.
Want to earn a different type of reward, such as airline miles.
Earn less than $80,000 per year ($150,000 for households).
BMO Ascend World Elite Mastercard facts
BMO Ascend World Elite Mastercard | |
|---|---|
Card type | |
Fees and interest rates | |
Annual fee | $150 (free for the first year, and rebated permanently if you have a BMO Premium Chequing Account). |
Regular/purchase APR | 21.99%. |
Penalty APR | 25.99% if you miss two payments within 12 months (28.99% for cash advances and balance transfers). |
Cash advance APR | 23.99% (21.99% for Quebec residents). |
Cash advance fee | 1% or $5 per transaction. |
Balance transfer APR | 23.99% (21.99% for Quebec residents). |
Promotional balance transfer fee | Up to 5% of the transaction amount. |
Foreign transaction fee | 2.5% of the transaction amount. |
Rewards and benefits | |
Intro offer | Up to 90,000 points and the first year’s annual fee rebated. |
Reward earn rates |
|
Other perks |
|
Insurance coverage | |
Travel accident | Up to $500,000. |
Travel medical | Up to $5 million per insured person per trip. |
Flight delay | Up to $500 if the flight is delayed more than four hours. |
Lost, damaged or delayed baggage | Up to $1,000 for lost or damaged luggage, and up to $1,000 for delayed baggage. |
Trip cancellation and interruption | Up to $5,000 if your flight is cancelled and up to $2,000 if your trip is interrupted. |
Hotel burglary | Up to $1,000. |
Rental car theft/damage | For up to 48 days. |
Extended warranty and purchase protection | Yes. |
Methodology
BACK TO TOPNerdWallet Canada selects the best rewards credit cards based on overall consumer value as well as their suitability for specific kinds of consumers. Factors in our evaluation methodology include each card’s cash-back earning rates, rewards structure (such as flat-rate or bonus categories), annual fee, redemption options, promotional APR period for purchases, bonus offers for new cardholders, and noteworthy features such as insurance, loyalty bonuses or the ability to choose one’s own rewards categories.
DIVE EVEN DEEPER
Shannon Terrell