The BMO Ascend World Elite Mastercard is designed for individuals who want a premium experience, particularly frequent travelers who seek luxury, comfort, and security while on the go.
Packed with travel-related benefits and a rewards program, this card caters to those who enjoy exploring the world while maximizing value on everyday spending.
In this guide, we’ll explore the key features, advantages, and potential drawbacks of the BMO Ascend World Elite Mastercard credit card, helping you decide if it aligns with your financial needs and lifestyle.
Pros and cons of the BMO Ascend World Elite
It’s important to weigh both the advantages and potential limitations to see if this credit card fits your financial goals.
Advantages
This financial product offers several benefits, making it a strong contender for those who prioritize premium advantages and rewards.
Here are some of the top benefits from this card:
- The user gets 5 times more points for every $1.00 spent on eligible travel purchases;
- It grants extensive travel and medical protection, up to $5 million in coverage;
- Cardholders enjoy a free membership of Mastercard Travel Pass, which is provided by DragonPass, plus four free passes annually;
- The customer can save up to 20% off at National Car Rental® and other options worldwide when using the Car Rental Booking tool.
Disadvantages of the BMO Ascend World Elite
This credit card comes with several perks, but it’s also important to keep its drawbacks in mind.
Take a look at some disadvantages of this product:
- It comes with an annual fee;
- To qualify for this card, individuals need a personal annual income of $80,000 or a household income of $150,000;
- It applies a foreign transaction fee on purchases made in other currencies;
- This product has relatively high interest rates.
Fees of the BMO Ascend World Elite credit card
Before applying for a credit card, understanding the associated costs of it is crucial.
The BMO Ascend World Elite comes with the following fees:
- Annual fee: $150.00 (rebated annually with a BMO Premium Chequing Account);
- Annual fee per additional card: $50.00;
- Interest rate on purchases: 20.99% (on February 3, 2025, this rate will be 21.99%);
- Interest rate on cash advances: 23.99%;
- Interest rate on cash advances for Quebec residents: 21.99%;
- Foreign currency conversion rate: 2.50%;
- In addition, there is an over limit fee: $29.00.
Last update of rates according to the official website: 01/28/25
About the issuing bank
BMO (Bank of Montreal) is one of Canada’s largest and most reputable financial institutions, known for offering a wide range of personal and business banking services.
With a long-standing history, BMO provides products that cater to a variety of financial needs, from everyday banking to premium credit cards like the Ascend World Elite credit card.
Application
With the BMO Mobile Banking App, you can easily track your rewards, monitor spending, make payments, and stay on top of important account updates.
The app also provides enhanced security features, such as alerts for suspicious activity and the ability to lock or unlock your card instantly.
Whether you’re traveling around the world or at home, the BMO Mobile Banking App puts all your banking needs in the palm of your hands.
Opinion about the card
The BMO Ascend World Elite is an interesting option for those who travel frequently and are looking for a card that delivers premium perks and strong rewards on travel spending.
With its combination of comprehensive travel insurance, access to airport lounges, and points accumulation, it’s an attractive choice for individuals who want to make their travel experiences more comfortable and secure.
However, the card’s high annual fee and other costs, and minimum income requirements could be a concern for those who won’t fully benefit from its travel-oriented perks.
Click the button below to see a full review of the BMO Ascend World Elite credit card:
*You will remain on this site*