Our Verdict
The BMO Ascend World Elite Mastercard earns solid marks for delivering exceptional travel rewards at a reasonable price point, with the 5x earning rate on travel purchases ranking among the best in Canada for this category. The generous welcome bonus of 90,000 points, combined with the waived first-year fee, provides immediate value exceeding $750, making it easy for new cardholders to test the card's benefits risk-free. The comprehensive travel insurance package and car rental coverage add substantial value that would otherwise cost hundreds of dollars annually through standalone policies. Where the card falls short is in its limited bonus categories compared to competitors that reward groceries and gas, essential spending areas for most households. The $80,000 income requirement, while standard for World Elite cards, excludes many potential users who could benefit from its travel rewards. Additionally, BMO Rewards points generally offer lower redemption values compared to transferable points programs, typically maxing out at 0.7 cents per point for travel redemptions. Despite these limitations, for travel-focused consumers who dine out frequently and can maximize the bonus categories, the BMO Ascend World Elite Mastercard provides excellent value in the competitive mid-tier travel card segment.
7.8 / 10
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Earn Up to 5x points per $1 spent
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Get up to 90,000 points as a welcome bonus
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Travel insurance coverage
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Access to discounts
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You'll pay an annual fee of $150
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You'll need to earn at least $80,000 a year to qualify for this card
Requirements
Be a Canadian citizen or permanent resident who is at least 18 years old (19 in some provinces) Have a minimum annual income of $80,000 or a household income of $150,000
Additional Details
- Balance Transfer APR: 23.99% (21.99% for Quebec residents)
- Currency Conversion Fee: 2.5%
- Minimum Credit Score: 760+
- Minimum Deposit to Open: $0
Categories: Business, Airline Lounge Access, Travel, Lost Luggage, BMO
