BMO Ascend World Elite Mastercard review

Who is the BMO Ascend World Elite Mastercard best for?

Existing BMO customers with a Premium Chequing Account might be interested in Ascend’s boosted earn rates for travel, dining, entertainment, and recurring bills. Frequent travellers will also appreciate the card’s well-rounded insurance package.

BMO Ascend World Elite Mastercard: The basics

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BMO Ascend World Elite Mastercard

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Annual fee: $150

Rewards: 1 – 5 Points per dollar

5 points per $1 spent on eligible travel purchases
3 points per $1 on dining, entertainment, and recurring bill payments
1 point per $1 on everything else

Welcome offer: Get up to $1,700 in value including up to 115,000 points, Mastercard Travel Pass Program & 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 0%s introductory interest rate on Balance transfers for 12 months with a 2% transfer fee.

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Card details

Interest rates	Interest rates: 21.99% on purchases, 23.99% on balance transfers, 23.99% on cash advances
Income required	Personal income of $80,000 or household income of $150,000
Credit score	760 or higher
Point value	1 BMO Rewards point = $0.0067 when redeemed for travel

BMO has an extensive lineup of credit cards. To quickly decide if you’re interested in the Ascend World Elite Mastercard, take a look at its earn rates and basic features.

Earn rates	5 points per $1 spent on travel 3 points per $1 spent on dining, entertainment, and recurring bills 1 point per $1 spent everywhere else
Insurance included	Extended warranty and purchase protection Travel accident coverageEmergency medical coverage Trip cancellation and interruption coverageFlight delay Lost, stolen, or delayed baggage Hotel burglary Personal effects coverage Rental car theft, accident, damage, and personal effects coverage
Special perks and features	Rental car discounts Discounts on Cirque du Soleil and resident shows in Las Vegas Mastercard Travel Rewards cash back offers Discount on FlexiRoam’s Global Data Roaming Plan Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card. Flexible redemption options
Fees	Foreign transaction fee: 2.5%
Minimum credit limit	Any amount
Supplementary card cost	$50

Pros and cons of the BMO Ascend World Elite Mastercard

The BMO Ascend World Elite Mastercard has a lot going for it, but there are also some issues to be aware of before you apply.

Pros:

Annual fee is waived the first year: Save $150 on your first year with this promotion. Plus, if you have a BMO Premium Chequing Account, the annual fee remains waived.
Wide acceptance: Mastercard is accepted at almost every merchant that takes credit cards. Plus, you can even use it at Costco and Loblaw banner stores.
High reward earn rates: Frequent travellers will appreciate earning 5 points per $1 spent on travel. Popular spending categories like dining, entertainment, and recurring bills also see accelerated earn rates.
World Elite perks: Premium travel insurance coverage, strong airport lounge benefits, and a competitive travel earn rate.

Cons:

High income requirements: All World Elite Mastercards require a steep $80,000 in annual personal income or $150,000 in annual household income, which may put this card out of reach for some.
High annual fee: The fee for many premium credit cards hovers around $120, so $150 for this card is considerably higher.
Supplemental cards cost extra: Be prepared to pay an additional $50 each year if you want to add an authorized user to your account, and note that you can’t waive the supplemental card fee.
Cash back caps: Travel spending rewards are capped at $15,000 spent in travel per year. Rewards on dining, entertainment, and recurring bills are capped after $10,000 in annual expenditures.

BMO Ascend World Elite Mastercard rewards explained

The BMO Rewards program allows you to earn BMO Points on your credit card purchases, redeemable for travel expenses such as flights (including all taxes), hotels, cruises, and vacation packages.

With the BMO Ascend World Elite Mastercard, you earn:

5 points per $1 on travel
3 points per $1 on dining, entertainment, and recurring bills
1 point per dollar on everything else

When you’re ready to redeem BMO Rewards points, log into your BMO account and choose your redemption option: travel, BMO investments, experiences, gift cards, or merchandise. Redeeming for travel gives you the best value.

BMO Ascend World Elite Mastercard perks and benefits

In addition to the BMO Rewards program, you’ll get access to some great perks and benefits.

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Airport lounge access

Cardholders of the BMO Ascend World Elite Mastercard receive complimentary membership to Mastercard Travel Pass by DragonPass, which entitles them to VIP access and four annual complimentary passes, good at 1,300+ airport lounges across the globe.

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Extensive insurance coverage

The BMO Ascend World Elite Total Travel and Medical Protection package is a valuable perk, providing out-of-province and out-of-country emergency medical protection of up to $5 million, as well as coverage for flight delays or cancellations, lost or delayed baggage (including personal effects insurance), and car rental collision damage coverage. Purchased separately, this coverage could cost around $120 per trip, but cardholders get it for unlimited journeys of up to 21 days each.

Discounts on fuel, rental cars, and experiences

Take a look at personalized offers that are loaded onto your card, and don’t forget you earn fuel discounts at Alamo, National Car Rental, and Enterprise Rent-A-Car. You can also get deeply discounted tickets to Canadian Cirque du Soleil shows and resident shows in Las Vegas. Our recommendation: don’t forget to check your card for cash back offers and discounts before travelling.

What cardholders think

We headed to Reddit to see what real cardholders had to say about the BMO Ascend World Elite Mastercard. The consensus seems to be that BMO Rewards aren’t as valuable as other credit card reward programs.

But the biggest issue Redditors have with the BMO Ascend World Elite Mastercard is the new annual spending requirement.

Starting in May 2025, BMO introduced a $15,000 annual spending requirement to waive the card’s annual fee. Many people felt the card wasn’t worth paying a fee for, and that meeting the $15,000 spending threshold wasn’t worthwhile either, given the limits on rewards for certain categories.

To round out our review, we checked third-party reviews to see how BMO scored for customer satisfaction:

J.D. Power: BMO earned a below-average score of 542, compared to the average 564 (well behind Amex’s top score of 628).
Better Business Bureau: 1.1/5 based on 150 customer reviews
Trustpilot: 1.4/5 based on 195+ customer reviews, primarily regarding poor customer service and inaccurate payment.

FAQs

Is the BMO Ascend World Elite Mastercard worth it?

If you don’t mind paying the annual fee after the first year and you meet the income requirements, the BMO Ascend is a fantastic World Elite Mastercard option. You’ll earn points at a high rate and get widespread insurance coverage while enjoying unique travel perks.

Does BMO World Elite offer free lounge access?

Yes, you’ll get a free Mastercard Travel Pass membership from DragonPass, including four free lounge passes each year.

What is the annual fee for BMO Ascend?

This Mastercard has a $150 annual fee, which is waived for the first year (and every year with a BMO Premium Chequing Account). If you’d like to add an authorized user, you’ll pay an extra $50 each year.

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About Jessica Gibson

Jessica Gibson is a personal finance writer with over a decade of experience in online publishing. She enjoys helping readers make informed decisions about credit cards, insurance, and debt management.