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

The annual fee for the BMO Ascend World Elite Mastercard is $150, and it is often waived for the first year for both the primary cardholder and the first additional card. Each additional card costs $50.

What is the minimum income requirement for the BMO Ascend World Elite Mastercard?

To qualify for the BMO Ascend World Elite Mastercard, you need a personal annual income of at least $80,000 or a household annual income of at least $150,000.

Does the BMO Ascend World Elite Mastercard come with free airport lounge passes?

Yes. The BMO Ascend World Elite Mastercard comes with 4 free airport lounge passes per year through Mastercard Travel Pass, provided by DragonPass, with access to over 1,300 lounges worldwide.

What are the earning rates on the BMO Ascend World Elite Mastercard?

The BMO Ascend World Elite Mastercard earns 5 BMO Rewards points per $1 on eligible travel, 3 points per $1 on dining, entertainment, and recurring bill payments, and 1 point per $1 on everything else. The categories have annual caps: $15,000 in travel for the 5x rate, and $10,000 in each 3x category per calendar year. After a cap, that category drops to 1 point per $1. Within the cap, the 5x travel rate works out to about a 3.3% return on travel spending.

What insurance is included with the BMO Ascend World Elite Mastercard?

The BMO Ascend World Elite Mastercard carries a full insurance package for a $150 annual fee card: emergency out-of-country medical coverage up to $5 million for 21 days (cardholders under 65), trip cancellation, trip interruption, flight delay, baggage delay, lost or stolen baggage, hotel and motel burglary, rental car collision and loss/damage, plus purchase protection and extended warranty. Add the NEXUS statement credit of up to $200 in the first year and complimentary Instacart+, and the extra benefits cover the annual fee for most active cardholders.

How can I redeem BMO Rewards points earned on the BMO Ascend World Elite Mastercard?

You can use BMO Rewards points in three main ways. Travel gives the best value, at 150 points per $1 (about $0.67 per point), with flexibility on airlines, hotels, dates, and routes, and no blackout periods. Statement credit for everyday purchases is lower, at 200 points per $1 ($0.50 per point). You can also move points to a BMO RRSP, TFSA, or non-registered account at 15,000 points = $100, the same rate as travel.