Daniela Hanna
The BMO Ascend World Elite®* Mastercard®* is a premium travel rewards card that leans hard into BMO Rewards points, airport lounge access, and a strong travel insurance package — with the annual fee rebated in the first year and a sizeable welcome bonus for new cardholders.
Quick highlights
- 🎁 Welcome offer: up to 90,000 BMO Rewards points for new cardholders (with tiered minimum spend) plus a first-year annual fee rebate.
- ✈️ Earn 5x BMO Rewards points on eligible travel purchases and 3x on eligible dining, entertainment, and recurring bill payments (up to annual caps).
- 🌍 Four complimentary airport lounge passes annually via Mastercard Travel Pass provided by DragonPass.
- 🩺 Robust travel insurance including emergency medical (up to $5 million), trip cancellation/interruption, flight delay, and baggage coverage.
Why we like the BMO Ascend World Elite®* Mastercard®*
This card packs a lot in for a $150 annual fee, especially with the first-year rebate. The BMO Rewards earn rates favour travellers and people who spend heavily on dining, entertainment, and recurring bills, while lounge passes and insurance make it a strong all-round travel companion.
Stand-out features
- ✅ Welcome offer of up to 90,000 BMO Rewards points for new cardholders (with tiered minimum spend requirements).
- ✅ First-year annual fee rebate and ongoing fee rebate when you hold an eligible BMO Premium Chequing account.
- ✅ 5x BMO Rewards on eligible travel purchases; 3x on eligible dining, entertainment, and recurring bill payments; 1x on everything else.
- ✅ Four complimentary airport lounge passes per year through Mastercard Travel Pass.
Good to know
- ⚠️ 5x travel earn is typically capped at $15,000 in eligible annual travel spend; 3x categories are capped at $10,000 per category per year.
- ⚠️ Minimum income requirement: $80,000 personal or $150,000 household.
- ⚠️ Standard 2.5% foreign transaction fee applies to non-CAD purchases.
Pros
- Strong welcome offer (up to 90,000 points) plus first-year fee rebate.
- High earn rate on travel, dining, entertainment, and recurring bills.
- Four complimentary airport lounge passes annually.
- Comprehensive suite of travel insurance benefits.
- Flexible BMO Rewards redemptions for travel, investments, and more.
Cons
- Ongoing annual fee of $150 after the first year (unless rebated via eligible banking bundle).
- 2.5% foreign transaction fee.
- Category caps on 5x and 3x earn rates.
- High minimum income requirement limits accessibility.
Rewards program
- ✈️ 5x BMO Rewards points per $1 spent on eligible travel purchases.
- 🍽️ 3x BMO Rewards points per $1 spent on eligible dining purchases.
- 🎟️ 3x BMO Rewards points per $1 spent on eligible entertainment purchases.
- 📅 3x BMO Rewards points per $1 spent on eligible recurring bill payments.
- 💳 1x BMO Rewards point per $1 spent on all other eligible purchases.
How to maximize rewards
- Plan your first-year spending to unlock as much of the up-to-90,000-point welcome bonus as possible while staying within your budget.
- Charge travel bookings (flights, hotels, car rentals, vacation packages) directly to the card to earn 5x points and keep travel insurance active.
- Route dining, entertainment and recurring bills (streaming, utilities, subscriptions) to the card to capture 3x points, staying under category caps.
- Redeem points primarily for travel or towards BMO investment accounts to squeeze more value out of each point.
- Use the four lounge passes each year on your longest or most tiring trip segments to maximize comfort and perceived value.
Insurance & benefits
Included
- 🩺 Out-of-Province/Out-of-Country Emergency Medical Insurance (up to $5 million per insured person for trips up to 21 days for eligible ages).
- 🧳 Trip Cancellation & Trip Interruption Insurance.
- 🧺 Delayed and Lost Baggage Insurance.
- 🛫 Flight Delay Insurance.
- 🚗 Car Rental Collision/Loss Damage Waiver Insurance (up to 48 consecutive days, conditions apply).
- 🏨 Hotel Burglary, Travel Accident, and other travel-related protections.
- 🛍️ Purchase Protection and Extended Warranty on eligible purchases.
- 🌍 Mastercard Travel Pass membership with 4 complimentary lounge visits per year.
Not included
- ❌ No waiver of the 2.5% foreign transaction fee.
- ❌ No dedicated mobile device insurance coverage.
- ❌ No free supplementary-card fee beyond specific promotional offers (supplementary cards typically $50 each).
Rates & fees
| Annual fee | $150 (rebated in the first year; may be rebated in future years with eligible BMO Premium Chequing) |
|---|---|
| Additional card fee | $50 per supplementary card (often rebated in the first year during promotions) |
| Purchase APR | 21.99% |
| Cash advance APR | 23.99% (may be 21.99% for Quebec residents) |
| Foreign transaction fee | 2.5% on purchases in foreign currencies |
| Grace period | At least 21 days on new purchases when you pay your statement balance in full |
Best for
- ✈️ Canadians who travel regularly and want strong insurance plus lounge access.
- 🍽️ People who spend significantly on dining, entertainment, and recurring bills.
- 💼 Cardholders who can meet the income requirement and use BMO Rewards for travel.
- 🏦 Clients who can stack value with eligible BMO banking bundles that rebate the annual fee.
Where it falls short
- Standard 2.5% foreign transaction fee makes it less ideal as a dedicated “no-FX” travel card.
- High minimum income requirement ($80,000 personal or $150,000 household).
- Bonus earn categories are capped annually, which limits upside for very high spenders.
- Everyday spend outside the bonus categories only earns 1 point per $1.
Customer reviews
Positive feedback
“The lounge passes and insurance easily justify the fee for me, especially with the first-year rebate.”
“5x on travel and 3x on dining and streaming helps me rack up BMO Rewards faster than my old card.”
Critiques
“I like the perks, but I wish there was no foreign transaction fee on overseas purchases.”
“You really need to travel and eat out a fair bit to squeeze full value out of the annual fee.”
Community insights
Among Canadian points enthusiasts, the BMO Ascend World Elite Mastercard is often viewed as a solid mid-priced travel workhorse: strong category earn rates, very good travel insurance, useful lounge access, and flexible BMO Rewards redemptions. Many pair it with a separate no-FX card to avoid foreign transaction fees when travelling.
AI review (straight talk)
If you travel regularly and can hit the welcome-bonus spend, this card can deliver outsized first-year value. Ongoing, it shines for travellers and heavy spenders on dining, entertainment, and recurring bills — especially if you also hold an eligible BMO banking package that offsets the fee. If you rarely leave town or don’t meet the income requirement, a lower-fee rewards card may make more sense.
Alternatives & comparison
| Card | Annual Fee | Top Categories | Other Purchases | Key Perks | Best For |
|---|---|---|---|---|---|
| BMO Ascend World Elite®* Mastercard®* | $150 (first year rebated) | 5x travel; 3x dining, entertainment, recurring bills | 1x | Lounge access, strong travel insurance, BMO Rewards | Frequent travellers |
| BMO eclipse Visa Infinite* Card | $120 (often rebated year 1) | Elevated earn on dining, groceries, gas, transit | 1x–1.5x | Flexible BMO Rewards, mobile device insurance | Urban spenders & foodies |
| Scotiabank Gold American Express® Card | $120 (sometimes rebated) | High earn on groceries, dining, transit, streaming | 1x | No foreign transaction fees, strong earn | Travellers who want no-FX |
| TD® Aeroplan® Visa Infinite* Card | $139 (often rebated) | Earns Aeroplan points on everyday categories | 1x | Air Canada perks, Aeroplan ecosystem | Air Canada-focused travellers |
FAQ
Is there an annual fee?
Yes. The BMO Ascend World Elite Mastercard has a $150 annual fee, which is typically rebated in the first year for new cardholders. You may also have the fee rebated on an ongoing basis if you hold an eligible BMO Premium Chequing account.
What is the welcome bonus?
New cardholders can earn up to 90,000 BMO Rewards points when they apply during the current offer period and meet tiered minimum spending requirements within specific timeframes. Exact details can change, so always confirm the latest offer when you apply.
What are the earn rates?
You’ll earn 5x BMO Rewards points per $1 spent on eligible travel purchases, 3x on eligible dining, entertainment and recurring bill payments (subject to annual caps), and 1x on all other eligible purchases.
Where can I redeem BMO Rewards points?
Points can be redeemed for travel (flights, hotels, car rentals, vacation packages, cruises), via “Pay with Points” for eligible purchases, for merchandise and gift cards, or as contributions to select BMO savings and investment accounts.
Does it include travel insurance?
Yes. The card includes a robust travel insurance package, including emergency medical coverage, trip cancellation/interruption, flight delay, baggage delay/loss, rental car coverage and more, when you charge eligible travel expenses to the card.
Final verdict & ratings
Our take The BMO Ascend World Elite Mastercard is a strong choice for Canadians who travel regularly and spend heavily in its bonus categories. With a sizeable welcome offer, lounge access, and comprehensive insurance, it can deliver great value — especially when the annual fee is offset in year one or rebated via BMO banking.
| Overall | ★★★★☆ 4.5 / 5 |
|---|---|
| Rewards value | 4.6 / 5 — excellent for travel, dining & recurring bills |
| Benefits & protections | 4.7 / 5 — lounge access and strong insurance |
| Fees & costs | 3.9 / 5 — $150 fee and 2.5% FX, but often rebated |
| Ease of approval | 3.5 / 5 — higher income requirement |
