BMO
The BMO Ascend World Elite Mastercard offers up to $1,600 in value, waived annual fee for the first year, and a 0% balance transfer intro rate. Minimum income applies.
Introducing the BMO Ascend World Elite Mastercard
The BMO Ascend World Elite Mastercard provides one of the most attractive welcome offers in Canada. Get up to $1,600 in value and waived annual fee in the first year when you meet eligibility criteria.
The card features a $150 annual fee (waived the first year), 21.99% purchase interest rate, and 23.99% rate for cash advances. Quebec residents have 21.99% for both.
To qualify, you need an individual income of $80,000 or household income of $150,000. This aligns with most elite-level Canadian credit cards.
The 0% introductory interest on balance transfers for 12 months (2% transfer fee) can also help with consolidating debt efficiently during the first year.
BMO Rewards points earned with every purchase enhance the value proposition by supporting travel, merchandise, and statement credits.
How to Apply: Step-by-Step
Start by verifying you meet the income prerequisites for this credit card. Prepare documentation showing your annual income and identification.
Fill out the online application on the BMO website. You will be asked for personal details, employment info, and financial data.
Once submitted, BMO typically processes your application quickly. If approved, wait for your new credit card to arrive by mail in a secure envelope.
Activate your card through BMO’s online services or mobile app. This ensures your card is ready for use almost immediately.
Finally, sign up for online banking to manage your new account, set up alerts, and monitor your rewards progress with ease.
Advantages of the BMO Ascend World Elite Mastercard
The most significant advantage is the generous welcome offer up to $1,600, including waived annual fee and point bonuses, offering substantial initial value.
Ongoing rewards are robust; points can be redeemed for travel, merchandise, and other perks, making it easy to maximize benefits tailored to your needs.
Travelers will appreciate BMO’s reliable insurance package and access to airport lounges, increasing overall convenience and peace of mind.
Additionally, the 0% balance transfer intro rate helps manage debt and transition balances with minimal costs for one year.
The user experience is enhanced by an intuitive mobile app, enabling seamless control over your finances and card security features.
Potential Drawbacks
The higher income requirement could be a concern for many potential applicants, limiting access to the best features and offers.
After the first year, a $150 annual fee applies. For lighter spenders, ongoing value may not always justify the fee if rewards aren’t maximized.
Interest rates are standard for this category but remain high for ongoing balances. Carrying a balance will diminish reward value significantly.
Finally, the best perks centre on travel—if your lifestyle is not travel-oriented, many benefits may be underutilized.
The introductory balance transfer fee of 2% should be considered when planning debt repayment strategies.
Our Verdict
The BMO Ascend World Elite Mastercard stands out for its sizable welcome bonus, included travel insurance, and reward flexibility for frequent users.
Ideal for high-income Canadians seeking premium travel perks and easy point redemption, it delivers excellent first-year value and holistic financial management.
Although the income bar is high, those who qualify and leverage the reward system can offset the annual fee and benefit from ongoing card features.
If you consistently travel or want a robust point-based rewards program, this card is a winner for Canadian consumers who meet the eligibility terms.
We recommend this card to individuals who prioritize rewards, security, and a premium credit experience in Canada.
