bmo ascend world elite mastercard

BMO Ascend™ World Elite®* Mastercard®*

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bmo cashback world elite mastercard

BMO CashBack® World Elite® Mastercard®

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BMO Ascend™ World Elite®* Mastercard®* vs BMO CashBack® World Elite® Mastercard®: Which one is better?


bmo ascend world elite mastercard

BMO Ascend™ World Elite®* Mastercard®*

3.1


RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

bmo cashback world elite mastercard

BMO CashBack® World Elite® Mastercard®

4


RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Rewards Breakdown

Annual Rewards

$307.13

BMO Rewards


First Year Bonus Value

$301.5

BMO Rewards


Annual Fee

$150

$0

First Year Waived


First Year Value

$608.63

$157.13 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$500.78


First Year Bonus Value

$184


Annual Fee

$120

$0

First Year Waived


First Year Value

$684.78

$380.78 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Insurance Included*

  • lost baggage

    Lost or Stolen Baggage

    $500/person, $1K/trip
  • hourglass timer

    Baggage Delay

    $500/person, $1K/trip
  • car insurance

    Car Rental Damage & Theft

    $65,000 up to 48 days
  • heart lock

    Travel Accident

    $500,000/person
  • extended warranty

    Extended Warranty

    Double up to 1 year
  • purchase protection

    Purchase Protection

    90 days
  • burglar

    Hotel Burglary Insurance

    $1,000
  • travel accident medical

    Emergency Out of province Medical

    $5M up to 21 days
  • hourglass timer

    Flight Delay

    $500 after 4 hours

  • cancel airplane

    Trip Cancellation

    $1,500/person, $5K/trip
  • pause

    Trip Interruption

    $2K/person, $10K/trip

Insurance Included*

  • lost baggage

    Lost or Stolen Baggage

    $500/person, $1,000 maximum
  • hourglass timer

    Baggage Delay

    $500/person, $1,000 maximum After 6 hours
  • car insurance

    Car Rental Damage & Theft

    $65K up to 48 days
  • heart lock

    Travel Accident

    $500,000
  • extended warranty

    Extended Warranty

    1 year
  • purchase protection

    Purchase Protection

    90 days
  • burglar

    Hotel Burglary Insurance

    $1,000
  • travel accident medical

    Emergency Out of province Medical

    $5M up to 8 days per covered person
  • hourglass timer

    Flight Delay

    $500 After 4 hours delay

Extra Benefits*

  • car rental

    Car Rental Discount

    20% off base rate of participating National Car Rental and Alamo Rent a Car and up to 5% on Enterprise Rent-A-Car
  • alcohol cheers

    Airport Lounge - Dragon Pass

    4 complimentary visits

  • discount

    Discount

    Up to 7% discount on Booking.com prepaid hotel or property rental bookings
  • discount

    Discount

    20% off admission to Cirque du Soleil shows touring Canada, and 15% off resident shows in Las Vegas
  • discount

    Discount

    FlexiRoam: Stay connected around the world without a SIM card and get up to 15% off a Global Data Roaming plan plus up to 3GB of data, free.

Extra Benefits*

  • car rental

    Car Rental Discount

    Save up to 20% on National Car Rental® and Alamo Rent A Car® and up to 5% on Enterprise Rent-A-Car® at locations worldwide using the Car Rental Booking tool
  • alcohol cheers

    Airport Lounge - Dragon Pass

    Complimentary membership in Mastercard Travel Pass provided by DragonPass. As a member enjoy lounge access for a fee of just US$32 per person, per visit.

  • gas station

    Gas Discount

    Get up to 7 cents off per litre on Shell® fuel, only for BMO cardholders.
  • tire

    Roadside Assistance

    Including battery boosts, flat-tire change, lockout service and towing – a $69/year value.
  • discount

    Hotel Booking Discount

    Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada.
  • mobile phone wifi

    Global Data Roaming plan

    With FlexiRoam, stay connected around the world without a SIM card and get up to 15% off a Global Data Roaming plan plus up to 3GB of data, without any additional charges, if apply.

Interest Rates*

Purchase:

21.99%

Cash Advance:

23.99%

Balance Transfer:

23.99%

Interest Rates*

Purchase:

21.99%

Cash Advance:

23.99%

Balance Transfer:

23.99%

Annual Fee*

$150

$0

First Year Waived

Annual Fee*

$120

$0

First Year Waived

Income Required*

Min Personal Income:

$80,000

Min Household Income:

$150,000

Income Required*

Min Personal Income:

$80,000

Min Household Income:

$150,000

Welcome Bonus*

Get up to 90,000 points and the annual fee waived in your first anniversary for both the primary cardholder and authorized users.*

Welcome Bonus*

Get up to 10% cash back in your first 3 months with an incremental cashback value of $194

Rewards Rate*

  • 5x points per $1 spent on eligible travel purchases (up to $15,000 spent)
  • 3x points per $1 spent on eligible dining, recurring bill payment and entertainment purchases (up to $10,000 spent per category)
  • 1x point per $1 spent on all other eligible purchases

Rewards Rate*

  • 5% cash back on groceries (capped at $500 spending per statement, maximum of $25 in cashback per statement cycle)
  • 4% cash back on daily transit (capped at $300 spending per statement, maximum of $12 in cashback per statement cycle)
  • 3% cash back on gas (capped at $300 spending per statement, maximum of $9 in cashback per statement cycle)
  • 2% cash back on recurring payments (capped at $500 spending per statement, maximum of $10 in cashback per statement cycle)
  • 1% cash back on all other eligible purchases.

Loyalty Program*

Loyalty Program*

N/A

Point Redemption Options*

  • Most Optimal

    travel - plane

    Travel

    0.67¢ / point
  • finance money dollar

    Financial Products

    0.67¢ / point
  • entertainment popcorn

    Entertainment

    0.64¢ / point
  • cash coins

    Statement Credits (Cash)

    0.5¢ / point
  • gift card

    Gift Cards

    0.48¢ / point
  • online shop

    Merchandise

    0.45¢ / point

Point Redemption Options*

Not Applicable

Is this card worth it?

The BMO Ascend World Elite Mastercard is perfect for frequent travelers who want a premium card offering high earning rates on travel, dining, and entertainment, plus valuable travel perks like lounge access and comprehensive insurance coverage. If you travel often and can meet the income requirement, this card offers flexibility and peace of mind with both rewards and protection while you're on the go.

Is this card worth it?

If you're seeking a cashback credit card, the BMO CashBack® World Elite® Mastercard® stands out for its excellent balance between rewards and benefits. It offers a robust rewards program and a comprehensive benefits list, making it a solid choice. The high first-year value is enhanced by the annual fee waiver, and those with a BMO Premium Chequing Account can enjoy continued fee waivers. While it's highly ranked for rewards alone, it may not be the absolute top choice if benefits are less important to you.

Pros

  • Generous rewards: 5 points per $1 spent on travel, 3 points per $1 spent on dining, entertainment, and recurring bills, and 1 point per $1 on other purchases.
  • Lounge access: Includes 4 free annual lounge passes through Mastercard Travel Pass.
  • Comprehensive insurance: 14 types of insurance, including emergency medical and trip cancellation coverage.
  • First year fee waived: Try the card for a year without paying the $150 annual fee.

Pros

  • Offers one of the highest cashbacks on groceries and gas, two of the most frequently spent categories, compared to other credit cards in Canada.
  • Includes roadside assistance, a rare but valuable benefit for people on the road.
  • Provides a comprehensive list of insurance coverage and benefits.
  • High first-year value.

Cons

  • Low point value: Points are worth only 0.67 cents each, which is lower than other cards.
  • High income requirements: Requires $80,000 personal income or $150,000 household income, making it inaccessible for many.
  • Limited lounge availability: Users have reported issues with lounge access.

Cons

  • Does not include restaurant purchases as a reward category, which is one of the most important spending categories.
  • Monthly limits on cash back could be higher

Legal


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