BMO Ascend World Elite Mastercard Review: Is It Worth It?
Nerdy Verdict
Best for:
High-income cardholders who want to add flexible travel rewards, insurance and a few airport perks to a wallet that already does the everyday basics well.
Not ideal for:
Frequent international travellers who want one card for spending abroad, airline-specific rewards or more substantial premium travel benefits.
Why we like it:
The BMO Ascend earns strong rewards on travel, dining, entertainment and recurring bills, and its insurance and four annual lounge passes can justify the $150 fee for the right traveller. It is most compelling as a companion card, not a one-card travel strategy.
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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.
- Limited Time Offer: Get up to $1,900 in value including up to 115,000 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.* 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.*
- Complimentary membership in Mastercard Travel Pass provided by DragonPass,* with four annual complimentary passes.
- Extended warranty and purchase protection*
- Travel and Medical Protection: Get Collision Damage Waiver benefits on rental cars, 21 days of Out-of-Province/Out-of-Country Emergency Medical coverage of up to $5 million, and more.*
- Up to $200 Instacart benefit*
- 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.
- *Terms and conditions apply.
5 things to know about the BMO Ascend World Elite Mastercard
BACK TO TOP1. It is a premium card with modest travel benefits
The BMO Ascend™ World Elite®* Mastercard®* has a premium-ish card annual fee ($150), airport lounge access and travel insurance. But it does not offer the full set of features frequent travellers expect from a premium travel card, such as no foreign transaction fees, unlimited lounge access or airline-specific benefits.
Its rewards are flexible: You can redeem BMO Rewards points against eligible travel purchases with many airlines, hotels and travel providers. But the value is fixed at 150 points per dollar, or about 0.67 cents per point, rather than offering potentially higher value through airline transfer partners.
2. It works best as a companion card, not a complete travel strategy
The Ascend can make sense alongside strong no-fee cash-back cards or a no-FX-fee card. Use it for eligible travel purchases, recurring bills and trips where its insurance and lounge passes are useful; use another card for everyday spending or international purchases.
It can also be more attractive for BMO Premium Chequing customers who qualify for an annual credit-card fee rebate. If the $150 fee is waived, the card’s travel perks become much easier to justify.
3. The 115,000-point welcome offer is valuable — but only for high spenders
The current offer includes up to 115,000 BMO Rewards points, but earning the full bonus requires some serious spending:
Earn 60,000 points after spending $5,000 in the first 110 days.
Earn another 20,000 points after spending $10,000 in the first 180 days.
Earn a further 35,000 points after spending $20,000 in the first 12 months.
At BMO’s travel redemption rate, 115,000 points are worth up to about $767 toward eligible travel purchases. That is solid first-year value, but only if you can meet the spending requirements without changing your normal spending habits or carrying a balance.
» EXPLORE: The best credit card welcome bonuses in Canada
4. A few useful travel perks can justify the annual fee
The Ascend includes Mastercard Travel Pass membership provided by DragonPass and four complimentary lounge visits each calendar year. You can use the passes yourself or for travelling companions.
The card also includes up to $5 million in emergency travel medical coverage for eligible trips of up to 21 days, rental-car collision damage coverage, trip cancellation and interruption insurance, and a NEXUS statement credit of up to $200 in the first year. Those benefits can easily outweigh the annual fee for someone who takes a few trips a year. They have much less value if you rarely travel or already get similar coverage through another card.
5. The 2.5% foreign transaction fee makes it a poor card to use abroad
The Ascend earns 5x points on eligible travel purchases, but it charges a 2.5% foreign transaction fee on purchases made in another currency. That can erase the value of the points you earn and make it a weak choice for meals, shopping and other spending once you are outside Canada. Bring a card with no foreign transaction fees when you travel internationally. The Ascend is better for booking eligible travel before you leave and accessing its insurance and lounge benefits during the trip.
Is the BMO Ascend World Elite Mastercard worth it?
BACK TO TOPThe BMO Ascend World Elite Mastercard can be worth it if you want straightforward travel rewards and will actually use its insurance, lounge passes and welcome offer.It is not the best choice for someone who wants one premium card that does everything. But for a cardholder with a mostly cash-back wallet who wants to add a travel lane — without committing to a specific airline program — it can be a practical fit.
BMO Ascend World Elite Mastercard eligibility
BACK TO TOPWho qualifies for the BMO Ascend World Elite Mastercard?
To apply for the BMO Ascend World Elite Mastercard, you must:
Be a Canadian citizen or permanent resident.
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, or household income of at least $150,000.
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
BACK TO TOPEarn up to 115,000 BMO Rewards points.
Earn 60,000 points after spending $5,000 in the first 110 days.
Earn an additional 20,000 points after spending $10,000 in the first 180 days.
Earn a further 35,000 points after spending $20,000 in the first 12 months.
The $150 annual fee is rebated in the first year. Terms apply.
Plus, eligible applicants can get a 0% introductory interest rate on balance transfers for 12 months with a 2% transfer fee.
Earn 5x BMO Rewards points on eligible travel purchases, up to $15,000 in annual spending.
Earn 3x points on eligible dining, entertainment and recurring bill payments, up to $10,000 annually in each category.
Earn 1x points on all other eligible purchases.
BMO Rewards points are worth $1 for every 150 points when redeemed for eligible travel purchases. That gives the points a value of about 0.67 cents each. For non-travel purchases, BMO Rewards points generally redeem at 200 points per dollar, or 0.5 cents per point. That makes travel redemptions the better use of your points.
Rewards calculator: See how many points you can earn
BACK TO TOPWhen to consider a different card
BACK TO TOPThe BMO Ascend is not a fit for every traveller. Depending on how you spend and travel, one of these cards may be a better primary option — or a useful companion.
| Card | NerdWallet rating | Choose it if: | Apply Now |
|---|---|---|---|
| Scotiabank Passport® Visa Infinite +* Card | APPLY NOW on Scotiabank's website | ||
 APPLY NOW on Scotiabank's website | 5.0/5 | You want a primary travel card with no FX fees and six lounge visits. | |
| American Express Cobalt® Card | APPLY NOW on American Express' website | ||
 APPLY NOW on American Express' website | 5.0/5 | You want higher-value points and airline-transfer options. | |
| Home Trust No Fee Preferred Visa card | APPLY NOW on Home Trust's website | ||
 APPLY NOW on Home Trust's website | 4.1/5 | You want a no-fee, no-FX companion card for spending abroad. | |
| Tangerine® Money-Back World Mastercard®* | APPLY NOW on Tangerine's website | ||
 APPLY NOW on Tangerine's website | 4.5/5 | You want a no-fee cash-back card for everyday categories; use the Ascend for travel and perks. | |
Already have a no-fee cash-back card you like? Keep it. The BMO Ascend can add travel rewards, insurance and a few airport perks without needing to become your everyday card.
BMO Ascend World Elite Mastercard facts
BACK TO TOPBMO Ascend World Elite Mastercard | |
|---|---|
Card type | Travel rewards credit card |
Reward earn rates | 5x on eligible travel; 3x on eligible dining, entertainment and recurring bill payments; 1x on other eligible purchases. |
Other perks | Four lounge passes per year, Mastercard Travel Pass membership provided by DragonPass, up to a $200 NEXUS statement credit and up to $200 in Instacart benefits. |
Insurance coverage | |
Travel medical | Up to $5 million per insured person per eligible trip. |
Flight delay | Up to $500 per trip. |
Lost, damaged or delayed baggage | Up to $1,000. |
Trip cancellation and interruption | Up to $5,000 for cancellation and up to $2,000 for interruption. |
Rental car theft/damage | Coverage for eligible rentals of 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.
Nerdy Verdict
Best for:
High-income cardholders who want to add flexible travel rewards, insurance and a few airport perks to a wallet that already does the everyday basics well.
Not ideal for:
Frequent international travellers who want one card for spending abroad, airline-specific rewards or more substantial premium travel benefits.
Why we like it:
The BMO Ascend earns strong rewards on travel, dining, entertainment and recurring bills, and its insurance and four annual lounge passes can justify the $150 fee for the right traveller. It is most compelling as a companion card, not a one-card travel strategy.
DIVE EVEN DEEPER
Shannon Terrell