BMO Ascend World Elite review: requirements and how to apply
Learn about fees, benefits, and application requirements
The BMO Ascend World Elite Mastercard is a travel rewards credit card offered by the Bank of Montreal (BMO), designed for people who want to earn points on travel and everyday spending.
It requires a minimum income and carries a $150 annual fee, and it’s aimed at people who travel regularly and want features such as travel insurance and airport lounge access.
Who is the BMO Ascend World Elite Mastercard for?
The BMO Ascend World Elite Mastercard may suit people who travel often and want to earn rewards on their regular spending.
It’s a good fit for people who want to redeem points for travel, such as flights, hotels, car rentals, vacation packages and cruises, through the BMO Rewards program.
It can also appeal to those who value travel insurance and lounge access, and who are comfortable paying an annual fee for these features.
To apply, you must:
- Be a Canadian citizen or permanent resident;
- Have reached the age of majority in your province (18 in Alberta, Manitoba, Ontario, Prince Edward Island, Quebec and Saskatchewan, and 19 in all other provinces);
- Not have declared bankruptcy in the past seven years;
- Have a minimum personal income of $80,000 or a household income of $150,000.
BMO Ascend World Elite Mastercard benefits
BMO Rewards points
Cardholders earn BMO Rewards points on eligible purchases:
- 5 points per $1 on eligible travel purchases;
- 3 points per $1 on eligible dining and entertainment purchases and recurring bill payments;
- 1 point per $1 on everything else.
You can redeem points with Pay with Points for eligible travel purchases, like flights, hotels, car rentals, vacation packages and cruises, or for other eligible purchases starting at $1. You can also redeem points for a contribution to a BMO savings or investment account, or for merchandise at bmorewards.com.
Travel insurance
The card includes out-of-province/out-of-country emergency medical insurance for trips of up to 21 consecutive days, with unlimited trips per year.
It also includes trip cancellation/trip interruption insurance, flight delay insurance (up to $500 per trip), baggage insurance, hotel burglary insurance (up to $1,000 per occurrence), common carrier insurance and car rental collision/loss damage insurance.
For purchases, you get Extended Warranty Insurance, which doubles the manufacturer’s warranty for up to one additional year, and Purchase Security Insurance for 90 days.
Airport lounge access
Cardholders get a complimentary membership in Mastercard Travel Pass provided by DragonPass, with 4 free lounge visits per year at more than 1,300 airport lounges worldwide. You can use these passes for yourself or for companions.
Car rental discounts
You can get up to 30% off Avis and up to 35% off Budget base rates when you prepay with the card, or at least 10% off when you book with it. BMO’s Car Rental Booking tool also offers savings with National, Alamo and Enterprise.
Other offers
Cardholders also get access to offers such as 20% off Cirque du Soleil shows touring Canada and discounts on FlexiRoam global data roaming plans. Availability and conditions may change over time.
Insurance coverage is subject to the terms, limits and exclusions in the Certificate of Insurance provided with the card.
Credit card limit
The credit limit on the BMO Ascend World Elite Mastercard is set individually for each applicant.
BMO considers factors such as credit history, income and overall financial profile when setting the approved limit. The bank doesn’t publish a fixed minimum or maximum limit, and approval is subject to credit assessment.
BMO Ascend World Elite Mastercard fees and rates
- Annual fee: $150. BMO currently offers an annual rebate of this fee for clients with a BMO Premium Chequing Account, as a limited-time offer;
- Additional cards: $50 per year for each additional card;
- Interest rate on purchases: 21.99%;
- Interest rate on cash advances and balance transfers: 23.99% (21.99% for Quebec residents);
- Foreign transaction fee: 2.5% on purchases made in foreign currencies.
Fees and rates checked on September 22, 2026, against BMO’s official information. Confirm current terms on the BMO website before applying.
How to apply?
You can apply for the BMO Ascend World Elite Mastercard online through BMO’s official website. BMO says it responds to online applications in under 60 seconds. You can also book an appointment at a BMO branch.
To apply, BMO asks for your name, date of birth, contact information, SIN, address, employment status, sources of income, and rent or mortgage amount. Approval is subject to BMO’s eligibility criteria and credit evaluation.
Our opinion about the BMO Ascend World Elite Mastercard
The BMO Ascend World Elite Mastercard may suit people who travel often and can make good use of its 5x points on travel, 3x points on dining, entertainment and recurring bills, and its travel insurance and lounge access.
However, the $150 annual fee, the 2.5% foreign transaction fee and interest rates of 21.99% and higher mean that the card’s overall value depends on how you use it. Emergency medical coverage is also limited to trips of up to 21 days, which matters if you often travel for longer periods.
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Disclaimer: This site is independent and strictly informational, and its content does not constitute financial advice. Finvyu is not affiliated with BMO. We do not guarantee credit card approval, which is solely subject to a credit check, income verification and risk analysis by the issuing bank (BMO). Finvyu Editorial Team.
