Reviewed by Jen, founder of MoneyMint · Updated September 25, 2026

BMOPremium Travel Card

BMO Ascend World Elite Mastercard

Our take: strongest for travel — about 3.35% back in value (est.) for $150 a year, plus a welcome bonus we value at roughly $770.

Welcome bonusUp to $1,900 in value, including up to 115,000 BMO Rewards points

Apply on BMO’s site →

Goes straight to BMO
Our review

The BMO Ascend World Elite Mastercard is BMO’s flagship premium travel rewards card — and if you’ve been searching for the “BMO World Elite Mastercard,” this is it under a new name. Per BMO’s own newsroom announcement, the card was renamed from BMO World Elite Mastercard to BMO Ascend World Elite Mastercard in May 2022 as part of a benefits refresh. It earns bonus BMO Rewards points on travel, dining, entertainment, and recurring bills, and pairs that with a substantial welcome offer, a broad travel insurance package, and airport lounge access — all gated behind one of the higher income requirements in BMO’s personal card lineup.

3.2out of 5

MoneyMint rating

#26 of 30 travel rewards cards · How we rate

Rewards value

2/10

Insurance

10/10

Flexibility

8/10

Welcome bonus

10/10

Fee value

4/10

Perks

4/10

≈ $729

estimated first-year value after the annual fee, on a typical $2,050/month budget. Points are converted to dollars using MoneyMint’s own valuations — see our points value calculator for how each program is valued. See it for your spending →

At a Glance

Annual fee

$150/yrwaived in year one; $50/yr per supplementary card

Foreign transaction fee

2.5%standard network-wide BMO Mastercard charge

Income requirement

$80,000 individualor $150,000 household

Suggested credit profile

Good to excellenteditorial estimate — no official minimum published

Rewards

~3.35%on travel (est. value)

Purchase APR 21.99% · Cash advance APR 23.99%

A Note on Conflicting BMO Sources

This card was renamed from “BMO World Elite Mastercard” to “BMO Ascend World Elite Mastercard” in May 2022, per BMO’s own newsroom announcement. Several old disclosure PDFs from 2010, 2015, and 2016 are still hosted live on bmo.com under the old “World Elite” name, describing materially worse terms than today’s card — for example, a 2016 guide shows a flat 2 points per $1 with no travel or dining multipliers at all, $2,000,000 in travel medical coverage instead of today’s $5,000,000, and Priority Pass instead of today’s Mastercard Travel Pass by DragonPass lounge program. We did not use any figures from those outdated documents on this page. We also found two unresolved conflicts in BMO’s current-dated materials: (1) the live product page lists Avis and Budget as car rental discount partners, while the current Benefits Guide PDF instead lists National, Alamo, and Enterprise — we couldn’t determine which is correct, so we haven’t published a specific rental-discount figure; and (2) BMO advertises the welcome offer as worth “up to $1,900” in total value, but the disclosed components (points, NEXUS credit, fee waivers) didn’t cleanly add up to that figure under any plausible points valuation we tried — we’re presenting $1,900 as BMO’s own stated claim, not a number we’ve independently verified. Confirm any of these details directly with BMO before applying.

Pros & Cons

Pros

5 BMO Rewards points per $1 on travel purchases (capped at $15,000/year in bonus-rate spend)
3 points per $1 on dining, entertainment, and recurring bill payments (capped at $10,000/year per category)
Welcome offer worth up to $1,900 in value, including up to 115,000 points, a $200 NEXUS statement credit, and first-year fee waivers
Broad travel insurance suite, including up to $5,000,000 in travel medical coverage
4 complimentary airport lounge visits per year via Mastercard Travel Pass by DragonPass (1,300+ lounges in 140+ countries)

Cons

$150 annual fee after year one ($50/year per additional card) — one of the steeper fees in BMO’s personal lineup
High income bar ($80,000 individual / $150,000 household) excludes many applicants
Full 115,000-point welcome bonus requires $20,000 in spend across 12 months, and is forfeited if the account closes within 365 days
Bonus-rate spend caps mean heavy spenders fall back to the 1-point base rate beyond $15,000/yr (travel) or $10,000/yr per category (dining/entertainment/bills)
Multiple stale BMO documents still describe this card under its old “World Elite” name with materially worse terms — see note above

Rewards & Earn Rates

Travel purchases

capped at $15,000 in annual travel spend at the bonus rate, per BMO’s current Benefits Guide; exact cap wording not independently double-checked against the primary document in our research — confirm before relying on it

Dining, entertainment & recurring bills

capped at $10,000 in annual spend per category at the bonus rate

All other purchases

Welcome bonus: BMO advertises this offer as worth “up to $1,900” in total value: up to 60,000 points after $5,000 spend in 110 days, up to 20,000 more after $10,000 total spend in 180 days, and up to 35,000 more after $20,000 total spend in 12 months (up to 115,000 points in total), plus up to a $200 NEXUS statement credit and first-year annual fee waivers ($150 primary, $50 per supplementary card). Applications must be received between September 15, 2026 and December 7, 2026. Bonus points may be cancelled if the account is closed within 365 days of opening, and the offer isn’t available to current/former cardholders or those transferring from another BMO product during the offer period.

BMO Rewards points do not expire as long as the account remains open and in good standing, per BMO’s program terms; no contrary information was found for the current program, though this was sourced from a legacy guide and not independently re-confirmed in this research pass.

Perks & Benefits

Travel & lifestyle perks

Mastercard Travel Pass by DragonPass — 4 complimentary lounge visits per year, then US$32 per person per visit (1,300+ lounges in 140+ countries)
Travel medical insurance up to $5,000,000 per person per trip, for trips up to 21 consecutive days (covered persons must be age 64 or younger)
Trip cancellation up to $1,500/person ($5,000/account); trip interruption/delay up to $2,000/person ($10,000/account); flight delay up to $500/account for delays over 4 hours
Baggage insurance up to $500/person ($1,000/account) for loss, theft, or damage, and separately for delays over 6 hours
Instacart+: 6 complimentary months, plus a $10 monthly Instacart credit while enrolled
Cirque du Soleil discount: 20% off in Canada, 15% off in Las Vegas

Coverage & extras

Common carrier accident insurance up to $500,000 per covered person
Hotel burglary insurance up to $1,000 per occurrence
Car rental collision/loss damage waiver — rentals up to 48 consecutive days, vehicle value capped at $65,000
Purchase protection (90 days) plus extended warranty (+1 year); combined lifetime maximum of $60,000 per account
Mastercard Zero Liability, Mastercard Identity Check, Pay with Points, Apple Pay/Google Pay

Worth knowing

Car rental discount partner is unclear: BMO’s live page lists Avis (up to 30%) and Budget (up to 35%), while its current Benefits Guide PDF instead lists National/Alamo (up to 20%) and Enterprise (5%) — confirm directly with BMO before relying on a specific discount
No promotional balance transfer rate was found advertised for this card; balances would be subject to the standard 23.99% cash advance/balance transfer rate (21.99% in Quebec)

Who It’s For

Best for

Higher-income travelers who can comfortably spend $5,000+ in the first 110 days to start earning the welcome bonus
Frequent travelers who’ll actually use the lounge access, travel medical coverage, and trip insurance
Spenders who concentrate in travel, dining, entertainment, and recurring bills — the card’s only bonus categories

Not ideal for

Applicants who don’t meet the $80,000 individual / $150,000 household income bar
Anyone unlikely to spend enough to earn back the $150 annual fee in year two and beyond
Heavy spenders who’ll blow past the $15,000/yr travel or $10,000/yr per-category caps and fall back to the 1X base rate
Anyone needing a low-rate balance transfer or carrying revolving debt — no promotional BT rate was found, so the standard cash-advance rate applies

Not Sure? Three Cards People Compare It With

All travel cards →

MBNA Rewards World Elite Mastercard

Pick this instead if most of your spending is groceries (~5% est.).

Fee $120Rating 3.4 ★Bonus $300

Read review

Scotiabank Passport Visa Infinite Privilege

Pick this instead if you spend abroad — it has no foreign transaction fee.

Fee $599Rating 3.8 ★Bonus $800

Read review

RBC Cash Back Preferred World Elite Mastercard

Pick this instead if you want a lower annual fee ($120).

Fee $120Rating 4.1 ★Bonus $300

Read review

Frequently Asked Questions

What is the annual fee for the BMO Ascend World Elite Mastercard?

The BMO Ascend World Elite Mastercard has an annual fee of $150/year (primary), waived in year one; $50/year per supplementary card, also waived in year one if added at application.

What is the rewards rate on the BMO Ascend World Elite Mastercard?

The BMO Ascend World Elite Mastercard offers: BMO Rewards points: 5 points per $1 on travel purchases (capped at $15,000/year in bonus-rate spend, per BMO’s Benefits Guide — cap wording not independently double-checked against the primary document, confirm before relying on it); 3 points per $1 on dining, entertainment, and recurring bill payments (capped at $10,000/year per category); 1 point per $1 on everything else, no cap mentioned.

Does the BMO Ascend World Elite Mastercard have a welcome bonus?

Up to 115,000 BMO Rewards points (60,000 after $5,000 spend in 110 days; 20,000 more after $10,000 total spend in 180 days; 35,000 more after $20,000 total spend in 12 months) + up to $200 NEXUS statement credit + first-year annual fee waived ($150 primary, $50 per supplementary card). BMO advertises the total as ‘up to $1,900’ in value; this figure could not be independently reconciled from the disclosed components in our research. Applications must be received between September 15, 2026 and December 7, 2026. Bonus points may be cancelled if the account is closed within 365 days. Time-sensitive offer (stated end date December 7, 2026) — double-check before you apply. Not available to current/former cardholders or those transferring from another BMO product during the offer period.

What credit score do I need to qualify for the BMO Ascend World Elite Mastercard?

Generally, you’ll want an excellent credit score to be considered for the BMO Ascend World Elite Mastercard. Approval also depends on income and overall credit history, not credit score alone.

Does the BMO Ascend World Elite Mastercard charge foreign transaction fees?

2.5% (network exchange rate plus 2.50% on purchases; minus 2.50% on refunds) — network-wide BMO Mastercard policy, not found restated in card-exclusive language on the live product page