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 🎁

The BMO Ascend World Elite Mastercard is more than just a credit card; it’s a travel companion. It provides cardholders with exceptional earning potential and numerous benefits tailored to enhance the travel experience. From earning points on travel expenditures to enjoying airport lounge access, this card is suited for those who travel often and want to make the most of their expenses.

Key Specifications

• Annual Fee: $150 (waived in the first year)
• Interest Rates: 20.99% for purchases, 23.99% for cash advances
• Rewards Rate: Up to 5 BMO Rewards points per dollar spent on travel
• Foreign Transaction Fee: 2.5%

Exceptional Earning Potential

One of the standout features of the BMO Ascend World Elite Mastercard is its impressive earning potential. Cardholders earn a whopping five BMO Rewards points for every dollar spent on travel-related purchases. This is significantly higher than many standard credit cards, making it a wise choice for those who frequently travel.

Additionally, the points can be redeemed for various rewards, including travel bookings, merchandise, or even gift cards. This flexibility allows users to tailor their rewards to their needs, whether they want to save for their next vacation or enjoy shopping sprees.

Elevated Travel Experience

The BMO Ascend World Elite Mastercard transforms the often stressful airport experience into a luxurious one. Cardholders receive complimentary access to over 1,300 airport lounges worldwide through the Mastercard Travel Pass, provided by Dragon Pass. This feature alone adds immense value, allowing travelers to relax in comfortable settings before their flights.

Alongside the lounge access, cardholders also receive four complimentary lounge passes annually, making it easier to unwind or catch up on work in a quieter environment. This benefit is a game-changer for frequent flyers, enhancing comfort and reducing travel stress.

Comprehensive Travel Insurance Coverage

Traveling can be unpredictable, and having robust insurance coverage is essential. The BMO Ascend World Elite Mastercard offers extensive travel and medical protection, covering eligible medical expenses up to $5 million for trips lasting up to 21 days. This feature provides peace of mind, knowing that unexpected medical emergencies while abroad are covered.

In addition to medical coverage, the card includes trip cancellation and interruption insurance, which safeguards users from financial losses due to unforeseen circumstances. This comprehensive insurance ensures travelers can embark on their journeys with confidence, knowing they have reliable support in case of emergencies.

Maximize Rewards Redemption

With the BMO Ascend World Elite Mastercard, users have the flexibility to redeem their rewards points in various ways. Beyond travel rewards, points can be used for cash contributions towards investments or savings accounts. This versatility empowers cardholders to make the most out of their spending, whether they choose to enhance their travel experiences or boost their financial health.

Enhanced Control and Safety

In today’s digital age, managing finances efficiently is crucial. The BMO Ascend World Elite Mastercard comes equipped with advanced digital features, allowing users to manage their accounts seamlessly through mobile banking apps. Cardholders can access real-time transaction alerts, monitor spending habits, and utilize enhanced security features, including zero liability protection against unauthorized transactions.

These digital tools not only provide convenience but also ensure users maintain control over their finances while traveling or shopping online. The emphasis on security is paramount, allowing cardholders to travel with peace of mind.

Potential Drawbacks

While the BMO Ascend World Elite Mastercard has numerous advantages, it’s essential to consider some potential drawbacks that may affect your decision.

Annual Fee

The card comes with a $150 annual fee, which may deter some potential users. Although the first year is waived, this cost can be significant for those who do not frequently travel or utilize the card’s benefits. For infrequent travelers, the annual fee may outweigh the rewards, making it less appealing.

Foreign Transaction Fee

Another notable drawback is the 2.5% foreign transaction fee on purchases made in other currencies. This fee can accumulate quickly for frequent travelers, particularly when making multiple purchases abroad. Many competing travel cards waive foreign transaction fees altogether, offering better value for international spending. This added cost can diminish the overall rewards earned and may lead some to consider alternative cards with more favorable terms for foreign transactions.

Limited Earning Categories

While the BMO Ascend World Elite Mastercard offers five points on travel-related purchases, its accelerated categories may not align with everyday spending habits for many Canadians. The card primarily rewards travel expenses, which can limit point accumulation for users who spend more on groceries or dining out. Compared to other cards that offer broader categories with higher earn rates, this limitation might make it less appealing for those looking to maximize their rewards on daily purchases.

Who Should Consider the BMO Ascend World Elite Mastercard?

The BMO Ascend World Elite Mastercard is ideal for individuals who travel frequently and spend significantly on travel-related purchases. If you regularly utilize airport lounges, value comprehensive travel insurance, and seek to maximize rewards on travel expenditures, this card can be a fantastic choice.

However, if you do not travel often or primarily spend on categories outside of travel, you may find better value with cards that offer diverse earning potentials. It’s crucial to assess your spending habits and travel frequency before deciding if this card aligns with your financial goals.