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Great for frequent travellers looking for a flexible rewards program and don’t mind paying an annual fee.
Cardholders can earn 5x BMO Rewards points on eligible travel purchases and enjoy complimentary Mastercard Travel Pass membership, rental car discounts and travel insurance.
Learn more about how we evaluate cards.
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.
BMO Ascend™ World Elite® Mastercard®
- Welcome offer: Get up to 90,000 points and the annual fee waived in the first year for both the primary cardholder and authorized users.*
- 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.
- *Terms and conditions apply.
- †Statement based on a comparison of the redeemable value of the non-promotional travel rewards points earned on premium flexible Canadian credit cards as of May 3, 2022. “Flexible” is defined as points earned when you purchase travel anywhere and “premium” refers to cards with an annual fee of ≤ $150 or has an income requirement of ≤ $150,000 annual individual income.
- 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 $5 million in travel medical coverage and four free airport lounge passes per year.
Benefits of the BMO Ascend World Elite Mastercard
- High coverage amount for travel medical insurance ($5 million).
- Annual fee is rebated if you have a BMO Premium Chequing Account.
- Mastercard Travel Pass membership provided by DragonPass, and four free passes per year.
- 25% discounts at National Car Rental and Alamo Rent a Car.
Drawbacks of the BMO Ascend World Elite Mastercard
As a travel rewards card, the BMO Ascend World Elite Mastercard drawbacks include:
- No hotel burglary insurance.
- 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 and four free passes, $99 and $140 USD, respectively, plus the complimentary travel insurance, can save you money.
BMO customer ratings
- Below average in customer satisfaction: BMO ranks 9th in J.D. Power’s 2023 Canada Credit Card Satisfaction Study.
- Average Trustpilot rating: 2.8 out of 5 possible stars based on more than six customer reviews, as of this writing.
- Low Better Business Bureau rating: 1.03 out of 5 possible stars based on over 360 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 three months.
- Get another 3,750 points when you spend at least $2,500 each billing cycle (from the fourth and fifteenth month of opening the account), up to 45,000 points.
Get the first year’s annual fee waived ($150 value).
Offer expires May 31, 2024, as of this writing.
- Earn 5x BMO Rewards points on eligible travel purchases.
- Earn 3x BMO Rewards points on eligible entertainment, dining and recurring bill payments.
- Earn 1x BMO Rewards points on everything else.
According to the BMO website, 150 BMO Rewards points is worth $1 when redeemed for travel-related purchases. One way to cover the $150 annual fee is by earning roughly 23,000 points per year and using them on travel purchases – a value of $153.
How to apply for the BMO Ascend World Elite Mastercard
Follow the below steps to apply for the BMO Ascend World Elite Mastercard online:
- Click the Apply Now button on the card’s landing page. If you do not have a Canadian address, you will need to book an appointment with the bank and apply in person.
- Agree to the terms and conditions and click Next.
- Enter your personal information, such as name, date of birth and contact details.
- Enter your SIN, if applicable.
- Enter employment details and any other financial information requested.
- Review and submit your application.
The online application takes roughly seven minutes to complete.
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. 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.
| BMO Ascend World Elite Mastercard | BMO AIR MILES World Elite Mastercard | |
|---|---|---|
| Annual fee | $150. | $120. |
| Minimum annual income | $80,000 (individuals) or $150,000 (households). | $80,000 (individuals) OR $150,000 (households). |
| Rewards |
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| Benefits |
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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 | Rewards credit card. |
| 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 | 20.99%. |
| Penalty APR | 24.99% (25.99% after May 3, 2024) if you miss two payments within 12 months (27.99% 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%. |
| 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 waived. Offer expires May 31, 2024 as of this writing. |
| Reward earn rates |
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| Other perks |
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| 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 $500 if luggage is delayed for more than six hours. |
| Trip cancellation and interruption | Up to $5,000 if your flight is cancelled and up to $2,000 if your trip is interrupted. |
| Rental car theft/damage | For up to 48 days. |
| Extended warranty and purchase protection | Yes. |
Methodology to choose the best rewards credit cards
NerdWallet 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.
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