bmo world elite mastercard travel rewards

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BMO Ascend World Elite Mastercard Review 2024: Is It Worth It? 

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

NerdWallet Rating

NerdWallet CA

Great for frequent travellers looking for a flexible rewards program and don’t mind paying an annual fee.

Cardholders can earn 5x BMO Rewards points on eligible travel purchases and enjoy complimentary Mastercard Travel Pass membership, rental car discounts and travel insurance. Learn more about how we evaluate cards .

The BMO Ascend World Elite Mastercard is a rewards credit card with an annual fee of $150. Cardholders can redeem BMO Rewards points for travel bookings, merchandise, investment accounts and more.

BMO Ascend™ World Elite® Mastercard®

• Welcome offer: Get up to 90,000 points and the annual fee waived in the first year for both the primary cardholder and authorized users.*
• 5x the points for every $1 spent on eligible travel purchases,* 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments,* 1 point for every $1 spent everywhere else.*
• Now get the highest rewards points for travel of any premium flexible travel card in Canada!†
• Complimentary membership in Mastercard Travel Pass provided by DragonPass,* with four annual complimentary passes.
• Access over 1 million Wi-Fi hotspots around the world – all at no added cost, and no added fees or roaming charges.*
• Get valuable benefits and offers for digital everyday services from a variety of on-demand apps and subscription services.
• Points you can use to cover all flight charges & taxes.*
• Fly on any airline, with no blackout dates.*
• Best-in-class travel and medical insurance (unlimited trips per year).*
• BMO Concierge Service.*
• Unlock Mastercard Travel Rewards cashback offers when you travel and shop outside of Canada.
• *Terms and conditions apply.
• †Statement based on a comparison of the redeemable value of the non-promotional travel rewards points earned on premium flexible Canadian credit cards as of May 3, 2022. “Flexible” is defined as points earned when you purchase travel anywhere and “premium” refers to cards with an annual fee of ≤ $150 or has an income requirement of ≤ $150,000 annual individual income.
• BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
• Full review
• Customer ratings
• Eligibility
• How to apply

BMO Ascend World Elite Mastercard vs BMO AIR MILES World Elite Mastercard

• Rating methodology

BMO Ascend World Elite Mastercard full review

The BMO Ascend World Elite Mastercard earns between one and five BMO Rewards points per CAD spent, depending on the type of purchase you make. The card comes with an impressive suite of travel insurance and perks, such as $5 million in travel medical coverage and four free airport lounge passes per year.

Benefits of the BMO Ascend World Elite Mastercard

• High coverage amount for travel medical insurance ($5 million).
• Annual fee is rebated if you have a BMO Premium Chequing Account. 
• Mastercard Travel Pass membership provided by DragonPass, and four free passes per year.
• 25% discounts at National Car Rental and Alamo Rent a Car.

Drawbacks of the BMO Ascend World Elite Mastercard

As a travel rewards card, the BMO Ascend World Elite Mastercard drawbacks include:

• No hotel burglary insurance. 
• A 2.5% foreign transaction fee on purchases made in other currencies.

Who should get the BMO Ascend World Elite Mastercard?

People who spend big on travel will get the most out of this card’s highest earn rate (5x), free airport lounge membership, travel insurance coverage and rental car discounts.

Is the BMO Ascend World Elite Mastercard worth it?

The BMO Ascend World Elite Mastercard may be worth it if you pay for airport lounge access and insurance when travelling — the card’s free DragonPass membership and four free passes, $99 and $140 USD, respectively, plus the complimentary travel insurance, can save you money. 

BMO customer ratings

• Below average in customer satisfaction: BMO ranks 9th in J.D. Power’s 2023 Canada Credit Card Satisfaction Study.
• Average Trustpilot rating: 2.8 out of 5 possible stars based on more than six customer reviews, as of this writing.
• Low Better Business Bureau rating: 1.03 out of 5 possible stars based on over 360 customer reviews, as of this writing. 

BMO Ascend World Elite Mastercard eligibility

Who qualifies for the bmo ascend world elite mastercard.

To apply for the BMO Ascend World Elite Mastercard, you must:

• Be at least the age of majority in your province or territory.
• Have not declared bankruptcy in the last seven years.
• Have an annual income of at least $80,000 ($150,000 for households). 

Approximate credit score needed for approval

Canadian credit card issuers rarely disclose required credit scores , which makes it hard to know your chances of approval when comparing credit cards. However, higher scores generally mean better chances of approval, and that’s true regardless of the type of credit you’re applying for. Want to learn more? Visit our “ What Credit Score is Needed for a Credit Card? ” page.

BMO Ascend World Elite Mastercard rewards

Earn up to 90,000 BMO Rewards points.

• Get 45,000 points when you spend $4,500 in the first three months. 
• Get another 3,750 points when you spend at least $2,500 each billing cycle (from the fourth and fifteenth month of opening the account), up to 45,000 points. 

Get the first year’s annual fee waived ($150 value).

Offer expires November 30, 2024, as of this writing.

• Earn 5x BMO Rewards points on eligible travel purchases.
• Earn 3x BMO Rewards points on eligible entertainment, dining and recurring bill payments.
• Earn 1x BMO Rewards points on everything else. 

According to the BMO website, 150 BMO Rewards points is worth $1 when redeemed for travel-related purchases. One way to cover the $150 annual fee is by earning roughly 23,000 points per year and using them on travel purchases – a value of $153.

How to apply for the BMO Ascend World Elite Mastercard

Follow the below steps to apply for the BMO Ascend World Elite Mastercard online:

• Click the Apply Now button on the card’s landing page. If you do not have a Canadian address, you will need to book an appointment with the bank and apply in person. 
• Agree to the terms and conditions and click Next. 
• Enter your personal information, such as name, date of birth and contact details. 
• Enter your SIN , if applicable.
• Enter employment details and any other financial information requested. 
• Review and submit your application. 

The online application takes roughly seven minutes to complete.

If you’re looking for a travel credit card from BMO but aren’t married to the idea of BMO Rewards points, you might consider the BMO AIR MILES World Elite. The cards have similar annual fees, but differ in the rewards they earn. While BMO Rewards points can be redeemed for travel bookings and merchandise, as well as used to fund investment accounts and pay for purchases, AIR MILES can be redeemed for cash rewards, merchandise and travel bookings.

Reasons you might want a different card

You may want to consider a different card if you:

• Typically carry a balance and want a lower interest rate. 
• Do not travel regularly enough to benefit from the card’s travel earn rates and perks.
• Want to earn a different type of reward, such as airline miles . 
• Earn less than $80,000 per year ($150,000 for households).

BMO Ascend World Elite Mastercard facts

Methodology: how we evaluate cards.

NerdWallet Canada selects the best rewards credit cards based on overall consumer value as well as their suitability for specific kinds of consumers. Factors in our  evaluation methodology  include each card’s cash-back earning rates, rewards structure (such as flat-rate or bonus categories), annual fee, redemption options, promotional APR period for purchases, bonus offers for new cardholders, and noteworthy features such as insurance, loyalty bonuses or the ability to choose one’s own rewards categories.

About the Author

Georgia Rose is a lead writer on the international team at NerdWallet. Her work has been featured in The Washington Post, The New York Times, The Independent and The Associated…

DIVE EVEN DEEPER

Compare Canada’s Best Credit Cards for September 2024

NerdWallet Canada’s picks for the best credit cards include top contenders across numerous card categories. Compare these options to find the ideal card for you.

Interest charges don’t need to be a mystery. Use our credit card interest calculator to see how much interest you’d owe if you carry a credit card balance.

13 Best BMO Credit Cards in Canada for 2024

The best BMO Bank credit cards in Canada include a variety of no-fee Mastercards, several Visa Infinite options, and co-branded travel credit cards that earn Air Miles.

9 Best Mastercard Credit Cards in Canada for August 2024

The best Mastercard credit cards offer a diverse array of rewards, including cash back, Air Miles, points and more.

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The Forbes Advisor editorial team is independent and objective. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive payment from the companies that advertise on the Forbes Advisor site. This comes from two main sources.

First , we provide paid placements to advertisers to present their offers. The payments we receive for those placements affects how and where advertisers’ offers appear on the site. This site does not include all companies or products available within the market.

Second , we also include links to advertisers’ offers in some of our articles. These “affiliate links” may generate income for our site when you click on them. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor.

While we work hard to provide accurate and up to date information that we think you will find relevant, Forbes Advisor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof.

BMO Air Miles World Elite Mastercard Review 2024: Earn More Air Miles, Faster

Updated: Sep 4, 2024, 8:39am

Fact Checked

The BMO AIR MILES World Elite®* Mastercard®* offers earn rates on rewards that outpace most other Air Miles cards on the market. While it has some decent travel perks and discounts, this card is best thought of as an add-on to your basic Air Miles collector cards. That said, frequent flyers might see more benefit from another points or cash back card, since the value of Air Miles fluctuates.

• High Air Miles earn rates.
• Earn Bonus Miles with an Air Miles Membership Card.
• Comprehensive travel insurance.
• Miles don’t transfer between rewards categories.
• Inconsistent dollar value per mile.
• $80,000 minimum income requirement.
• $500 per month cap on grocery earnings.

Table of Contents

Introduction, quick facts, bmo air miles world elite mastercard rewards, bmo air miles world elite mastercard benefits, how the bmo air miles world elite mastercard stacks up, methodology, is the card name right for you.

• Welcome bonus of 3,000 Air Miles when you spend $3,000 in the first three months, enough for $310 towards purchases with AIR MILES Cash. Plus, get the $120 annual fee waived for the first year.
• 3 Miles for every $12 spent at participating Air Miles partners.
• 2 Miles for every $12 spent on groceries (up to $500 per month).
• 1 Mile for every $12 in eligible purchases.
• Collect points twice on purchases from Air Miles partners.
• Forbes Advisor estimates a rewards value of $188.63 in net annual earnings based on average Canadian spending, with the annual fee factored in.
• Emergency medical coverage: $2 million for 15 days (no coverage for ages 65 and older).
• Common carrier/travel accident insurance: $500,000.
• Trip cancellation: $2,500 per person ($5,000 per account).
• Trip interruption: $2,000 per person.
• Flight delay: $1,000 per account.
• Lost/stolen baggage: $750 per person ($2,000 per account).
• Delayed baggage: $200 per person.
• Hotel/motel burglary insurance: None.
• Car rental collision loss/damage: $65,000 for 48 days to cover rental car damage, loss or theft and $2,000 for personal effects ($1,000 per person).

The BMO AIR MILES World Elite®* Mastercard®* is among the best Air Miles credit cards available. On top of the welcome offer, cardholders collect 1 Mile on every $12 purchase. The base rate jumps up to 2 Miles at eligible grocery stores. Air Miles partners pay out 3 Miles plus extra Miles when you scan your Air Miles Collector Card. These earn rates gain more traction than most competitors and help offset the $120 annual fee.

This card also includes some incredibly useful travel perks, like comprehensive travel insurance, airport lounge access and a 25% discount on the Air Miles required to book one flight every year (with no blackout periods). The downside is you can only book flights departing from Canada. Aeroplan cards let you book flights in most countries, and they often have more flight options through Air Canada even though Air Miles has partnerships with multiple airlines.

Cardholders also have to choose between earning Cash Miles, Dream Miles or a combination of both. Cash Miles sound nice, but you can only redeem them in increments of 95 Miles for $10. Dream Miles, on the other hand, offer more value and over 800 reward options for flights, hotels, vacation packages, events and merchandise.

• Every $12 purchase earns 3 Miles at partner locations, 2 Miles at eligible grocery stores and 1 Mile everywhere else.
• Collect Miles twice at partner locations by scanning your Air Miles Collector Card at the time of purchase.
• Redeem Miles in-store as cash or online for travel, merchandise, events and more.

Earning rewards

The BMO Air Miles World Elite Mastercard rewards every $12 purchase with 3 Miles at partner locations, 2 Miles at eligible grocery stores and 1 Mile everywhere else. Cardholders can also double dip on points from partners by scanning an Air Miles Collector Card as well. These earn rates are a big jump from the standard Air Miles program that pays out 1 Mile per $20 spent at participating merchants.

New cardholders can skip the annual fees for the first year and earn 3,000 AIR MILES after spending $3,000 in the first three months. You have the option to collect the extra miles as cash or travel rewards. They’re worth about $310, depending on the rewards category you choose.

While this card has impressive Air Miles earn rates, its value is generally lower than other premium travel cards. For example, the American Express Cobalt Card offers up to 5 points for every dollar spent and you can transfer points to several frequent flyer programs at a 1:1 ratio.

Redeeming Rewards

BMO Air Miles World Elite Mastercard rewards can be Cash Miles or Dream Miles. You can choose to earn 100% of Miles in one category or split them up (e.g. 30% Cash Miles, 70% Dream Miles). Choose wisely—settings can be adjusted, but Miles can’t move between categories.

Miles collected on credit card purchases will show up in your Air Miles account. Cash Miles can be used online or in-store for gift cards and discounts with participating retailers. The catch is, you can only redeem Cash Miles in increments of 95 Miles for $10.

Dream Miles can be redeemed online for flights, hotels, events and merchandise. Flights generally offer the most value at 17.2 cents per mile (CPM). The BMO Air Miles World Elite Mastercard also comes with travel insurance, lounge access and a 25% discount on the Air Miles required to book one international flight every year.

At the end of the day, free money shouldn’t be this hard to spend. There are plenty of cash back cards with higher earn rates and flexible payouts.

Rewards Potential

To calculate the return on BMO Air Miles World Elite Mastercard rewards, Forbes Advisor uses data from multiple government agencies to determine baseline income and credit card spending averages across various categories. Based on this information, the average Canadian spends $30,965.70 in annual credit card charges .

With every $12 purchase earning up to 3 Miles, cardholders can collect around 2,931 Miles per year on top of the first-year welcome bonus. Based on an average reward value, that could be $308.63 in annual rewards. When you factor in the annual $120 fee, that becomes a return of $188.63. Not many credit cards earn Air Miles at this level, but some other travel cards offer more flexible rewards with a similar value. And, since there is such a fluctuation in rewards value, these amounts can vary.

• Travel Insurance: Plan your trip with built-in coverage for rental car collision and loss, trip interruption and cancellation, flight delays, lost or stolen luggage and 15 days of emergency medical care.
• Trip Assistance: Contact the Operations Centre while you’re away to get help with lost or stolen travel documents, emergency cash transfers, legal services and information about visa or vaccine requirements.
• Flight Discounts: Get a 25% discount on Air Miles for one flight anywhere in the world (750 Miles in total savings). There are no blackout periods and the discount resets every year.

Interest Rates

Regular APR (Purchases): 20.99% Regular APR (Cash Advances) 23.99%

Foreign Transaction Fee: 2.5% Annual Fee: $120 (waived in the first year) Balance Transfer Fee: 2%

BMO AIR MILES World Elite®* Mastercard®* vs. WestJet RBC® World Elite Mastercardǂ

The WestJet RBC® World Elite Mastercardǂ offers 2% back in Westjet dollars on Westjet purchases and 1.5% on everything else. This card is a good option for frequent flyers who only want to collect and redeem travel points with Westjet. Otherwise, the BMO Air Miles World Elite Mastercard offers $188.63 worth of annual rewards, compared to $311.69 with the WestJet RBC card (both using average rewards value with their respective annual fees factored in).

BMO AIR MILES World Elite®* Mastercard®* vs. BMO AIR MILES®† Mastercard®*

The BMO AIR MILES®† Mastercard®* has no annual fee or minimum income requirement. Rewards follow a similar structure, but it takes $25 to collect 1 Mile instead of $12. Other no-annual-fee AIR MILES credit cards offer 1 Mile for every $15 or $20 spent. The BMO AIR MILES®† Mastercard®* still earns $149 worth of annual rewards, only slightly less than the World Elite’s $188.63. If you can meet the World Elite Mastercard $80,000 income requirement, the accelerated earning rates are worth the $120 annual fee.

BMO AIR MILES World Elite®* Mastercard®* vs. CIBC Aeroplan Visa Infinite Card

The CIBC Aeroplan Visa Infinite Card earns 1.5 points per dollar spent on gas, groceries and Air Canada vacations and 1 point on all other purchases. Aeroplan points offer more perks for flight upgrades and priority status with Air Canada. Even with the annual fee factored in, the CIBC Aeroplan Visa Infinite can earn $527.32 in annual rewards, which makes it the clean winner, considering the BMO Air Miles only earns $188.63.

When determining a rating for individual credit cards, the Forbes Advisor Canada editorial team factors in an exhaustive list of data points. With travel, the scoring model used takes into account factors such as, but not limited to, miles earned, redemption flexibility, fees, welcome bonus, and other rewards and features. Keep in mind, what may be best for some people might not be right for you. Conduct informed research before deciding which cards will best help you achieve your financial goals.

If you already collect Air Miles, the BMO AIR MILES World Elite®* Mastercard®* is worth adding to your wallet. This card is essentially an extension of the Air Miles Collector Card with better earn rates and extra travel perks. On the other hand, anyone that isn’t married to Air Miles should check out some other premium travel cards that offer cash back or points.

Related : Best Credit Cards in Canada

Frequently Asked Questions (FAQs)

How do i use my bmo air miles.

Choose from over 800 reward options for BMO Air Miles, including merchandise, gift cards, travel, leisure and entertainment items. The dollar value of your BMO Air Miles depends on the rewards program (Cash Miles or Dream Miles) and what you redeem your Air Miles for.

Related: Everything You Need To Know About The New Air Miles

How many Air Miles do I get with the BMO Air Miles World Elite Mastercard?

The BMO AIR MILES World Elite®* Mastercard®* earns Air Miles on every $12 purchase. The number of Air Miles you receive will depend on where you shop. Every $12 you spend will earn 3 Miles at partner locations, 2 Miles at eligible grocery stores and 1 Mile on everything else you buy.

Is the BMO World Elite Mastercard good?

The BMO AIR MILES World Elite®* Mastercard®* is one of the best Air Miles credit cards on the market. Cardholders collect 1 Mile for every $12 purchase compared to the standard earn rate of 1 Mile for $20. However, the BMO CashBack World Elite Mastercard is a favourable alternative for people that want to get paid in cash instead of Air Miles.

Candice Reeves is a financial writer based out of Nova Scotia. She specializes in personal finance, investing, and cryptocurrency. Her work is featured in leading publications across various industries, including Wealth Rocket, CryptoVantage, and StackCompare.

Aaron Broverman is the lead editor of Forbes Advisor Canada. He has over a decade of experience writing in the personal finance space for outlets such as Creditcards.com, creditcardGenius.ca, Yahoo Finance Canada, Nerd Wallet Canada and Greedyrates.ca. He lives in Waterloo, Ontario with his wife and son.

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BMO Ascend World Elite®* Mastercard®*

Updated on: May 3, 2024

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45,000 BMO Rewards points upon spending $4,500 in the first three months 3,750 BMO Rewards points for each of months 4–15 in which you spend $2,500 Total of up to 90,000 BMO Rewards points

Earning rate:

5 BMO Rewards points per dollar spent on travel, up to $15,000 per calendar year 3 BMO Rewards points per dollar spent on dining, entertainment, and recurring bill payments, up to $10,000 annually per category 1 BMO Rewards point per dollar spent on all other purchases

Interest rates:

20.99% purchases 23.99% balance transfer 23.99% cash advances (21.99% in Quebec)

Perks & benefits:

DragonPass lounge membership with four complimentary lounge passes Complimentary Boingo Wi-Fi

The BMO Ascend World Elite ® * Mastercard ® * is long-reigning backbone of the BMO Rewards program, and it also comes with a great insurance package.

Bonuses & Fees

• 45,000 BMO Rewards points upon spending $4,500 in the first three months
• 3,750 BMO Rewards points in each of months 4–15 in which you spend $2,500, for a total of up to 45,000 additional points

The card comes with an annual fee of $150 , which is waived in your first anniversary for both primary cardholders and authorized users.

Earning Rewards

The earning rate on the BMO Ascend World Elite ® * Mastercard ® * is as follows:

• 5 BMO Rewards points per dollar spent  on travel, up to $15,000 per calendar year

3 BMO Rewards points per dollar spent on dining, entertainment, and recurring bill payments, up to $10,000 per category per calendar year

1 BMO Rewards points per dollar spent on all other purchases

Since BMO Rewards can be redeemed at the rate of 0.67cpp, these earning rates are equivalent to an effective 3.35%, 2.01% and 0.67% return, respectively.

These are respectable returns on a premium card, although some might choose to earn more valuable points currencies through a product like the American Express Platinum Card instead (since BMO Rewards points can only be redeemed at a fixed value, rather than transferring out to higher-value airline partners).

However, the BMO Ascend World Elite ® *  still makes for a solid Mastercard option to keep in your wallet alongside an Amex product as well.

Redeeming Rewards

BMO Rewards points are worth 0.67 cents per point (cpp) when redeemed against the cost of travel booked via the BMO Rewards online portal (at a fixed rate of 150 BMO Rewards points = $1).

Therefore, the total signup bonus of 90,000 BMO Rewards points can be redeemed as $603 worth of travel. Plus, you'll earn more points from everyday spending as you work towards the spending requirements.

Perks & Benefits

In terms of perks and benefits, this card offers four annual complimentary lounge passes with DragonPass lounge membership, which allows you to access the airport lounge and relax before your flight (either on four occasions for a solo traveller, two occasions as a couple, etc.) Additional lounge visits will cost $32 (USD) apiece.

Insurance Coverage

The BMO Ascend World Elite ® * Mastercard ® * offers an outstanding insurance package, including:

Emergency medical insurance of up to $5 million for the first 21 days on out-of-province trips

Trip cancellation insurance for up to $1,500 per insured person and $5,000 per trip overall

• Trip interruption insurance  for up to $2,000 per insured person and $10,000 per trip overall

Flight delay benefits of up to $500 per trip for reasonable expenses incurred on a flight delay of four hours or more

Car rental insurance and Collision Damage Waiver benefits, which allow you to save on the insurance fees that car rental companies usually charge

†Terms and conditions apply. BMO   is not responsible for maintaining the content on this site. Please click on the Apply Now link for the most up to date information.

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By Keph Senett  and  Luca Tatulli on May 3, 2024 Estimated reading time: 6 minutes

BMO Ascend World Elite Mastercard review

Everything you need to know about BMO Ascend World Elite, from what travel rewards are included to whether it’s worth the annual fee.

If you’re itching to travel again, BMO has a card designed to help you get there. With an attractive insurance package and perks like airport lounge access, the BMO Ascend World Elite Mastercard seeks to tempt users into the BMO Rewards program. But here’s the big question: Is the card good enough to justify the $150 annual fee? We delve into what the card offers and show you exactly how it stacks up against other travel reward cards.

BMO Ascend World Elite Mastercard

Annual fee: $150

• 5 points per $1 spent on eligible travel purchases
• 3 points per $1 on dining, entertainment, and recurring bill payments
• 1 point per $1 on everything else

Welcome offer: You can earn up to 100,000 points

Card details

5 things you need to know about the BMO Ascend World Elite Mastercard

• The card lets you collect BMO travel rewards The BMO Rewards program allows you to earn BMO Points on your credit card purchases, redeemable for travel expenses such as flights (including all taxes), hotels, cruises and vacation packages. With the BMO Ascend World Elite Mastercard, you earn 5 points per dollar on travel, 3 points per dollar on dining and entertainment and 1 point per dollar on everything else—a competitive offering.
• The card has a generous sign-up bonus New members can earn up to 100,000 points
• You’ll get airport lounge access Cardholders of the BMO Ascend World Elite Mastercard receive complimentary membership to Mastercard Travel Pass by DragonPass which entitles them to VIP access and four annual complimentary passes, good at 1,000 airport lounges across the globe.
• It comes with great travel insurance The BMO Ascend World Elite Total Travel and Medical Protection package is a tempting and valuable perk, providing out-of-province/out-of-country emergency medical protection up to $5 million, plus coverage for flight delay or cancellation, lost or delayed baggage (including personal effects insurance), and car rental collision damage coverage. Purchased separately, this coverage could cost around $120 per trip, but cardholders get it for an unlimited number of journeys of up to 21 days each.
• It’s widely accepted  While most main credit card processors enjoy extensive international coverage, Mastercard has an edge as the only brand accepted at Costco .

How do I redeem my BMO Rewards?

With BMO Rewards, the redemption process is as simple as logging in to your account. To redeem for rewards, you can avail yourself of the full-service online travel agency or shop from their catalogue. You can book with any airline without blackout dates or seat restrictions, and BMO also offers price matching, so you can be sure you’re getting the very best deal.

What are BMO Rewards Points worth?

Points redeemed for travel come in at a value of 140:$ 1 ($0.007 per point), m eaning that you’ll need 35,000 points for $250 towards travel expenses. Importantly, you don’t have to redeem a minimum number of points, or any, to book travel—and you can pay whatever your points don’t cover by charging that amount to your card. Redemptions for gift cards and merchandise are just as simple (you select from an online catalogue), but you’ll typically get less value from your points compared to travel. Finally, you can redeem your points for financial products, but this option comes at a steep reduction in value. For 7,000 points you can get $50 in a BMO investment account (which is about $0.007 per point) , or for 15,000 points you’ll receive $50 towards your credit card bill (about $0.003 per point). With all these redemption options, the BMO Rewards program is extremely flexible—this is one of the main reasons it’s so popular—but for the very best point-to-dollar ratio, travel rewards are the way to go.

Does BMO Ascend World Elite Mastercard have trip cancellation insurance?

The BMO Ascend World Elite Mastercard has a strong travel coverage package, the card offers both trip cancellation and trip interruption insurance. The card has got you covered for up to $1,500 for the non-refundable and non-transferable portion of your canceled trip. As for trip interruption, BMO has also got your back , as it will cover up to $2,000 for the cost of one-way airfare departure and any unused non-refundable prepaid arrangements. 

Does the BMO Ascend World Elite Mastercard come with lounge access? 

With the BMO Ascend World Elite Mastercard, you get a free membership to Mastercard Travel Pass, which gives you four annual airport lounge visits that can be used at 1,000 airport lounges worldwide.

What are the best ways to benefit from this card?

Even though the BMO Rewards program offers numerous redemption possibilities, travel rewards give you the very best value—with no seat restrictions or blackouts. Add to that the card’s airport lounge access , and travel and medical insurance, and you’ve got a very competitive product for travellers.

Are there any drawbacks to the BMO Ascend World Elite Mastercard?

Despite a very strong showing in many respects, there are a few drawbacks you should be aware of. The first is that the BMO Ascend World Elite Mastercard commands an income threshold of $80,000 per year for an individual (or $150,000 per household) an d an annual fee of $ 150 (most travel cards come in around the $120 mark). An extra $30 per year may not matter much to high-earners, but the fee may give you pause, especially when you consider that some cards offer more lucrative bonus categories. The Scotiabank Gold American Express , for example, offers 5 Scotia Points on restaurants and groceries. Finally, the BMO Rewards website could use some work, given that it’s the portal through which users must make redemptions. Improvements to site speed would go a long way to keeping customers happy, and would help cement the brand’s reputation as a top-tier provider. The $ 150 annual fee on the BMO Ascend World Elite Mastercard is nothing to sneeze at, but for frequent flyers, the travel rewards more than make up the expense. If you’re interested in BMO cards, but don’t want to collect travel rewards, check out our list of BMO’s best credit cards .

Is the BMO Ascend World Elite Mastercard worth the annual fee?

The answer to whether the BMO Ascend World Elite Mastercard is worth the high annual fee of $150 will depend on a variety of factors. If you’re a frequent flyer and traveler and earn more than the card’s income requirement, the answer is yes. The annual fee would most likely be canceled out by the free lounge access and travel insurance, if you’d be paying for those two services out of pocket each time you travel. On the other hand, the card’s high-income requirement and annual fee may be a barrier for some and a reason to choose another card instead. And, if you’re a fan of earning cash back instead of points then may not be the best choice since there is no such offering with the card. 

More on  credit cards :

• Canada’s best credit cards for gas
• Canada’s best credit cards for grocery purchases
• Best cash back credit cards
• Tangerine credit card review: Is it really the best no-fee credit card in Canada?

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*Certain terms, conditions and exclusions apply. For more information, please refer to your benefits guide or contact your issuing financial institution. ↩

**Offers may not always be available and may expire, be changed, or removed without notice. ↩

1. Mastercard cardholders will receive up to 7% off when booking accommodations marked with the Mastercard label and prepaying for such accommodations using an eligible  Canada-issued  consumer or small business Mastercard credit card, excluding any such cards that are used through a mobile wallet solution (e.g. Apple Pay, Google Pay, etc.), at  booking.com/mastercardCanada .

Offer Period: April 1, 2024 – September 30, 2025, subject to early termination. Mastercard reserves the right to modify or cancel this offer at any time without notice. Neither Mastercard nor any participating financial institution card issuer has any involvement in or responsibility for Booking.com products or services and are not responsible for any claims or damages arising from the use of the Booking.com products or services.

Eligibility: This offer is available to Canadian residents who are holders of consumer credit and small business Mastercard credit cards issued in Canada.

Exclusions: Reservations booked but not prepaid are excluded from the promotion. Must select “Pay now” on the checkout page to receive the offer.

Additional Terms and Conditions: To receive the discount, bookings must be prepaid at the checkout and made exclusively through  booking.com/mastercardCanada . The discount is applicable only to prepaid bookings when the option “Pay Now” is selected at the checkout. The discount will be applied automatically at the time of checkout and discount will vary depending on the property and dates selected. The discount applies to the accommodation cost only and does not include any additional fees or taxes. Booking.com reserves the right to modify or terminate this offer at any time without prior notice. All bookings are subject to availability and Booking.com’s terms and conditions.   ↩

2. Offer expires 09/30/2024. New customers who pay for their first annual McAfee Total Protection for Mastercard subscription using an eligible Canada-issued Mastercard credit card will receive a special introductory price on a 13-month subscription term. Customers will also receive 13 months of McAfee TechMate at no additional cost. Limit one offer per cardholder. Unless you cancel your initial 13-month subscription at least 30 days before it expires, you will be charged the renewal subscription price in effect at the time of your renewal, and it will renew automatically for a 12-month term. You can cancel at any time or change your auto-renewal settings by accessing your My Account page . Pricing is subject to change. Mastercard reserves the right to modify or cancel this offer at any time without notice. You may request a refund by contacting McAfee customer support within 30 days of initial purchase or within 60 days of automatic renewal. Neither Mastercard nor any participating financial institution card issuer has any involvement in or responsibility for McAfee’s products or services and are not responsible for any claims or damages arising from the use of the McAfee products and services. Additional terms and conditions apply. Not all features may be available on all devices. For full terms and conditions, visit https://www.mcafee.com/mastercard-en-ca . ↩

3. Offer expires 09/30/2024. Certain terms, conditions and exclusions apply. For full details, please visit: http://www.boingo.com/legal/end-user-license-agreement-boingo-customer-agreement/ ↩

4. Certain terms, conditions and exclusions apply. For full details, please visit: https://mastercardtravelpass.dragonpass.com/terms-and-conditions ↩

5. Get emergency assistance virtually anytime, anywhere and in any language. Mastercard Global Service helps you with reporting a lost or stolen card, obtaining an emergency card replacement or cash advance, finding an ATM location and answering questions on your account. For more information, please visit: https://sea.mastercard.com/en-region-sea/consumers/get-support/global-services.html ↩

6. Zero Liability does not apply to Mastercard cards issued: to an entity other than a natural person; primarily for business, commercial, or agricultural purposes; until such time as that person’s identity is registered by or on behalf of the Issuer in connection with the issuance and/or use of such card, which registration may include appropriate customer identification program requirements; outside of Canada. ↩

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BMO World Elite .css-129gw94{line-height:0;} ®*  Business Mastercard ®*

Get rewarded for all your purchases. Plus, earn extra rewards on your most common business expenses, to make the most of your money.

Winner of best cash back business credit card in 2024 by creditcardGenius. *

Welcome offer:

Get over $1,500 in value. 1 This includes up to 100,000 bonus BMO Rewards Points in your first year (that’s $669 in value). 1

Your rates at a glance

Annual fee waived in the first year 1

Interest on purchases 2

Interest on cash advances 2

Here’s how your first year value adds up

First use bonus.

Earn 20,000 bonus BMO Rewards Points (a value of $135) when you make your first purchase. 1

Monthly bonus

Earn 8,000 bonus BMO Reward Points from months 3-12 by spending a minimum of $3,000 each month (a value of up to $535). 1

Premium benefits

• Airport lounge access with free annual membership to Mastercard Travel Pass provided by DragonPass, plus 2 free passes a year. 10
• Five free virtual care visits with a registered Canadian Doctor whenever you need with Maple. 14 , 15

Annual fee waiver

Plus, your  $149 annual fee is waived in the first year. 1

Get even more perks with your business card

Calculate your Rewards Points

Estimate your monthly spending.

Gas (earn 4 points for every $1 you spend):

Office supplies (earn 4 points for every $1 you spend):

Cell phone and internet bill payments (earn 4 points for every $1 you spend):

All other eligible purchases (earn 1.5 points for every $1 you spend):

Estimated yearly rewards

How will you use your reward points?

Pay with points.

Morning latte

Toronto to Halifax

50,000 points **Based on a one-way fare, last updated October 2021.

Big purchases

Apple AirPods

47,500 points

Access on-demand health care any time you need it

Maple makes it easy to get the care you need, when you need it.

Before you apply, here are some things to know

Sole proprietorship, .css-12t1fpb{box-sizing:border-box;border:none;cursor:pointer;padding-left:0;padding-right:0;padding-top:0.5rem;padding-bottom:0.5rem;width:100%;display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;font-size:18px;font-weight:700;text-align:left;line-height:2rem;letter-spacing:0;gap:16px;-webkit-box-pack:start;-ms-flex-pack:start;-webkit-justify-content:flex-start;justify-content:flex-start;background-color:transparent;color:#001928;}.css-12t1fpb:focus,.css-12t1fpb:focus-visible{outline:0;border-radius:0.5em;box-shadow:0px 0px 0px 2px #005587,inset 0px 0px 0px 3px #e6f9fe;}.css-12t1fpb[data-state="open"] >img{-webkit-transform:rotate(180deg);-moz-transform:rotate(180deg);-ms-transform:rotate(180deg);transform:rotate(180deg);}.css-12t1fpb img{padding:0.25rem 0;-webkit-align-self:baseline;-ms-flex-item-align:baseline;align-self:baseline;-webkit-order:0;-ms-flex-order:0;order:0;}.css-12t1fpb span{-webkit-order:1;-ms-flex-order:1;order:1;} here’s what you’ll need:.

• Trade Name Registration
• Master Business License

Corporation

Here's what you need:

If you’ve had your business for less than 18 months, you’ll need one of the following:

If you’ve had your business for more than 18 months, you’ll also need to bring one of the following:, if you’re operating under a registered trade name, you’ll need one of the following:, identification requirements, partnership.

Here's what you will need:

If your business is a General Partnership, you’ll need the following:

If your business is a limited partnership, you’ll need the following:, if you're operating under a registered trade name, you'll need one of the following:, identification requirements identification requirements for a partnership, unincorporated association, if your business has been formally established, you'll need one of the following: , if your business isn't formally established you’ll need:, identification requirements identification requirements for unincorporated associations, added protection for peace of mind, zero liability .

You won’t be liable for most cases of unauthorized purchases made in person, over the phone or online. 16

Your security is our priority

BMO Business Mastercard is now more secure than ever thanks to chip technology. Your card contains an embedded microchip, which is encrypted and extremely difficult to counterfeit.

Toll-free customer service

Call 1-844-385-5055 toll-free for customer service in English, French, Cantonese or Mandarin.

BMO World Elite Business Mastercard FAQs

How do i redeem my points.

If you’d like to cash in your points, just visit the  BMO Rewards website , sign in to your account and choose what you’d like to purchase with your points.

How often can I access my reward points?

You can access your points whenever you’d like! Just choose how you’d like to cash them in – you can pay with points; redeem them for travel purchases, shopping and unique experiences; or put your points toward a BMO investment account. Learn more on the  BMO Rewards website .

We’ve got all your banking needs covered

.css-w4hdkn{--link-text-color:#0075be;--link-focus-color:#005587;--link-icon-color:unset;--link-icon-focus-color:brightness(0) invert(1) brightness(0) saturate(100%) invert(11%) sepia(85%) saturate(5565%) hue-rotate(191deg) brightness(93%) contrast(100%);border:none;outline:none;width:auto;color:var(--link-text-color, #0075be);font-weight:700;border-radius:4px;cursor:pointer;-webkit-text-decoration:none;text-decoration:none;text-transform:initial;text-underline-offset:2px;font-size:18px;line-height:24px;}.css-w4hdkn:focus,.css-w4hdkn:focus-visible,.css-w4hdkn:hover{color:var(--link-focus-color, #0075be);-webkit-text-decoration:underline;text-decoration:underline;}.css-w4hdkn:focus span,.css-w4hdkn:focus-visible span,.css-w4hdkn:hover span{-webkit-text-decoration:underline;text-decoration:underline;}.css-w4hdkn:focus img,.css-w4hdkn:focus-visible img,.css-w4hdkn:hover img{-webkit-filter:var(--link-icon-focus-color, #005587);filter:var(--link-icon-focus-color, #005587);}.css-w4hdkn:visited:not(:hover, :focus, :focus-visible),.css-w4hdkn:active:not(:hover, :focus, :focus-visible){color:#0075be;}.css-w4hdkn:focus,.css-w4hdkn:focus-visible{box-shadow:0px 0px 0px 3px #005587,inset 0px 0px 0px 2px #e6f9fe;}.css-w4hdkn span:last-of-type{display:-webkit-inline-box;display:-webkit-inline-flex;display:-ms-inline-flexbox;display:inline-flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;}.css-w4hdkn img{-webkit-filter:var(--link-icon-color);filter:var(--link-icon-color);} Loans and lines of credit to grow your   business

We offer low rates and flexible lending options so you can get the funding you need to take your business to the next level.

Pair it with a personal credit   card

Our personal credit cards come with great benefits and rewards, and help you keep your personal and business finances separate.

Take the next step toward better business banking

Give us a call.

Call us to apply for a credit card or ask questions.

Apply online

Get approved for a new card online in minutes.

Make an appointment at your nearest branch to discuss your business needs.

Want to know even more? Find all the details here

Committed to your business brochure.

Find out how we are committed to you, our business customer.

Benefits guide

Bmo mastercard cardholder agreement, insurance product summary (for quebec residents), certificate of insurance.

This guide outlines the terms and conditions governing the insurance that comes with your card.

BMO Rewards Terms and Conditions

This guide outlines in detail terms and conditions governing your  BMO  Rewards Mastercard rewards. Check the Table of contents to find the  BMO  Rewards section.