BMO Credit Cards
Earn up to $1,600 in value with the BMO Ascend World Elite Mastercard. No annual fee in the first year. 21.99% interest on purchases. Premium rewards and travel perks included.
The BMO Ascend World Elite®* Mastercard®* dazzles with a massive welcome offer of up to $1,600 in value, including an annual fee waiver for the first year. The card features a 21.99% interest rate on purchases and a higher rate of 23.99% for cash advances. For Quebec residents, the interest rate remains 21.99%. A minimum individual income of $80,000 or household income of $150,000 is required for approval, making this card suitable for higher income earners.
How to Apply for the BMO Ascend World Elite Mastercard
- Visit the official BMO credit card application site
- Confirm you meet the minimum income requirement
- Fill in your personal and financial information
- Submit your application for review
- Wait for approval and receive your card by mail
Noteworthy Benefits
The card stands out for its generous welcome offer and the wide range of travel rewards. Cardholders earn BMO Rewards points, which are redeemable for flights, hotels, and more. Extra perks include airport lounge access, comprehensive travel insurance, and exclusive offers such as free Instacart+ for up to six months. The BMO Ascend World Elite also provides zero percent introductory interest on balance transfers for 12 months subject to a 2% transfer fee.
Key Drawbacks
Keep in mind, the card comes with a high minimum income requirement, restricting access for many. Once the first-year annual fee waiver ends, the card’s $150 annual fee applies, which may not justify the rewards for less frequent users. The high interest rates on unpaid balances make it critical to pay off statements in full to avoid costly charges.
Our Verdict
If you frequently travel and have high credit card spending, the BMO Ascend World Elite Mastercard can deliver significant value, especially in the first year. However, the high annual fee and strict eligibility limit appeal mainly to those who will maximize the rewards and travel benefits. This card is an excellent fit for Canadians seeking premium perks and robust travel rewards with the backing of a trusted bank.
