BMO Ascend World Elite Mastercard

If you’re planning to travel and are in need of a credit card that offers great travel coverage, the BMO Ascend World Elite Mastercard is definitely worth considering. It comes with a range of benefits, including one of the best travel coverages in the market. However, it’s important to note that the rewards points ratio is comparatively low when compared to other credit cards with the same annual fee. On average, you can expect to receive approximately 3%-2% cash back on every dollar spent. This means that if you spend $100, you’ll receive approximately $3-$2 in rewards. The highest rewards ratio can be achieved when you use the card for travel purchases, where you could receive approximately 3.5% value back. This means that if you spend $100 on travel purchases using this card, you’ll receive approximately $3.5 in rewards.

Card Summary

This credit card comes with a range of features designed to provide you with value and convenience.

Firstly, you will be required to pay an annual fee of $150, which will give you access to a range of benefits. You can also get supplementary cards for $50 each, allowing family members or friends to take advantage of the card’s features.

The purchase rate for this credit card is 20.99%, which is competitive in the market. Additionally, the cash advance rate, including balance transfers, is 22.99%.

One of the standout features of this card is the rewards program. You will receive a bonus offer of 60,000 BMO Rewards Points, which you can redeem for a range of benefits, such as travel, merchandise, and gift cards. Furthermore, the annual fee is waived for the first year, providing even more value.

To be eligible for this credit card, you must have an annual income of $80,000 or more, or a household income of $150,000 or more. If you meet this requirement, you can enjoy the benefits and convenience of this credit card.

Rewards Summary

Discover the benefits of the lucrative welcome offer and start earning rewards today. With 60,000 BMO Rewards Points, you can kick-start your savings and enjoy even greater value with your purchases. Plus, with 5 points earned for every dollar spent on eligible travel purchases and 3 points for every dollar spent on eligible entertainment, dining, or recurring bill payments, you’ll be earning rewards in no time. And with 1 point earned for every dollar spent on all other purchases, you’ll be able to accumulate points quickly and easily. Best of all, the rewards ratio ensures that you can get approximately 0.5% – 3.5% value back, making your purchases even more rewarding.

Benefits Summary

With BMO Ascend World Elite Mastercard rewards program, you can redeem your points with flexibility and without any travel blackouts. Additionally, you can access airport lounges with Mastercard Travel Pass (a fee applies). You also have the option to pay with points, making your purchases more convenient. Plus, you can check your credit score and use BMO PaySmart payment plans for big purchases. And finally, you can save money with National Car Rental.

Insurance Summary

Travel insurance is a must-have for any trip you take, whether it’s nationally or internationally. Here are some of the insurances included with this card:

Travel Medical Insurance: This type of insurance covers medical expenses that you may incur while traveling, including hospitalization, emergency medical treatment, and medical evacuation.

Travel Accident Insurance: In the event of an accident that causes injury or death while traveling, this type of insurance provides financial support to you or your family.

Trip Cancellation/Interruption Insurance: This insurance covers financial losses that you may incur if you have to cancel your trip due to unforeseen circumstances or if your trip is interrupted for some reason.

Car Rental Insurance: If you plan to rent a car while traveling, this insurance can cover damages to the car, theft of the car, and liability for any accidents that occur while driving the rental car.

Delayed/Lost Baggage Insurance: This insurance provides financial support if your baggage is delayed, lost, or stolen during your trip.

Flight Delay Insurance: If your flight is delayed for an extended period, this insurance can cover the expenses you incur for food, lodging, and transportation during the delay.

The BMO Rewards Mastercard is an excellent choice for those who love to travel or enjoy rewards. Although the annual fee is high at $150, new customers are usually offered a welcome offer that waives this fee for the first year. The card offers many ways to earn rewards points that can be redeemed for travel or other pleasures. You can earn 5x the points on eligible travel purchases, 3x the points on dining and entertainment purchases, and 1 point for all other purchases. Additionally, the card provides many unique benefits such as airport lounge access, travel insurance, and more. To apply for this card, you must have an individual income of at least $80k or a household income of $150k.

Editor’s Review: BMO Ascend World Elite Mastercard

Overview: The BMO Ascend World Elite Mastercard is a credit card designed for frequent travelers and those who are passionate about rewards programs. This credit card offers extensive travel coverage and an impressive rewards program. Although the card’s annual fee may seem high at first glance, it is worth considering due to the numerous benefits it provides, especially for those who prioritize travel and value-added perks.

Annual Fee and Rates: The BMO Ascend World Elite Mastercard is a premium credit card that comes with an annual fee of $150. However, this cost is usually offset by the card’s attractive welcome offer, which typically includes a waiver of the annual fee for the first year. This makes the card more appealing to new cardholders. The purchase rate for this card is competitive at 20.99%, whereas the cash advance rate, which includes balance transfers, is slightly higher at 22.99%.

Rewards Program: The BMO Ascend World Elite Mastercard is a credit card with an impressive rewards program that offers a welcome bonus of 60,000 BMO Rewards Points. These points can be redeemed for various benefits, including travel, merchandise, and gift cards. The card offers substantial earning potential with 5 points earned for every dollar spent on eligible travel purchases, 3 points for every dollar spent on eligible dining, entertainment, or recurring bill payments, and 1 point for all other purchases. The tiered rewards structure ensures that cardholders can accumulate points quickly and efficiently, making it a valuable card. Depending on the spending category, the rewards ratio ranges from approximately 0.5% to 3.5% value back, making it an attractive option for those with diverse spending habits.

Benefits: The card has a rewards program along with several benefits that aim to improve the cardholder’s travel experience and convenience. These benefits include access to airport lounges through the Mastercard Travel Pass (with applicable fees), the option to use points for payment to add flexibility, credit score monitoring access, and the availability of BMO PaySmart payment plans for significant purchases. Additionally, cardholders can save on car rentals through National Car Rental, making the card even more valuable.

Insurance Coverage: The BMO Ascend World Elite Mastercard offers a wide range of travel insurance coverage including coverage for medical expenses, accidents, trip cancellation, car rental, lost/delayed baggage, and flight delays. With such extensive insurance offerings, this card provides cardholders with a sense of security when travelling, protecting them against any unexpected situations and potential financial losses.

Verdict: The BMO Ascend World Elite Mastercard is an excellent option for people looking for a high-end credit card that offers travel rewards and benefits. Although the annual fee might seem costly at first glance, the card’s welcome offer, strong rewards program, and wide range of benefits more than make up for the cost, especially for frequent travelers and rewards enthusiasts. With its comprehensive insurance coverage, flexible redemption options, and unique perks, the BMO Ascend World Elite Mastercard provides exceptional value for individuals with distinctive travel needs and spending habits.

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Disclaimer: Refer to the credit card official web page for the latest up to date rates, terms, and conditions. Nothing in the Site constitutes professional and/or financial advice, nor does any information on the Site constitute professional and/or financial advice.