BMO Ascend World Elite®* Mastercard®* review
Mar 21, 2025
While we adhere to strict editorial guidelines, partners on this page may provide us earnings.
Mar 21, 2025
While we adhere to strict editorial guidelines, partners on this page may provide us earnings.
Overall rating
First year value
$1,922
Get this card if you:
Scores by category
Welcome Bonus 4.0
Gas 3.5
Travel 3.1
At a glance
The BMO Ascend™ World Elite®* Mastercard®* is a premium travel rewards credit card with elevated earn rates on eligible travel, dining, entertainment, and recurring bill payments. Cardholders benefit from complimentary lounge membership, which includes complimentary passes, as well as comprehensive travel insurance coverage, making it a suitable option for frequent travelers seeking both rewards and travel-related perks.
$1,922
First year value
up to $1,600*
Welcome bonus
$150
Annual fee
first year waived
21.99%
Purchase APR
23.99%
Balance transfer APR
23.99%
Cash advance APR
Excellent
Recommended credit score
$80,000
Required annual personal income
$150,000
Required annual household income
The BMO Ascend World Elite®* Mastercard®* comes armed with a number of features designed for high-income globetrotters, like flexible airport lounge access and travel insurance*. It’s a particularly valuable asset if you:
But there’s no shortage of upscale rewards credit cards in the Canadian market, and if you don’t check off at least two of the boxes listed above you should consider other options that can help you earn a bigger bounty of rewards, or that offer superior travel perks.
New cardholders can benefit from BMO's competitive welcome offer:
Related: Best credit card sign-up bonuses in Canada
The BMO Ascend World Elite®* Mastercard®* has the following three earn rates:
Following BMO’s regrettable devaluation of BMO Rewards points in 2021, 1 BMO point is now worth about $0.0067 when redeeming for travel, including flights, car rentals, hotel rooms, and vacation packages (150 points = $1 in redemption value). Other redemption options include:
You can learn more about the BMO Rewards program by reading our complete BMO Rewards Guide.
Cardholders should be aware that the value they get for their points varies from one redemption path to the next. See the below table for details.
The BMO Ascend World Elite®* Mastercard®* provides cardholders with Complimentary membership in Mastercard Travel Pass provided by DragonPass.* This authorizes you to relax in any of the 1,300+ airport lounges available.
But what makes this card stand out is that it offers four free entries each year*. Most World Elite Mastercards offer just the basic membership, in which each lounge entry costs $32 USD. Plus the free lounge passes from the BMO Ascend World Elite®* Mastercard®* are flexible; you can use them yourself, or they can be used to admit your travel companions. The combined value of these four lounge passes is $128 USD, equivalent to $184 CAD as of January 22, 2025. The value of that feature alone exceeds the $150 annual fee for the primary cardholder.
Related: Guide to DragonPass lounges
The insurance package offered by the BMO Ascend World Elite®* Mastercard®* is fairly comprehensive overall, with a few highlights that outperform the insurance offered by most travel rewards cards, and some weaknesses as well. The coverage is summarized in the table below:
| BMO Ascend World Elite®* Mastercard®*: What's protected? | Coverage amount |
|---|---|
| Travel emergency medical* | Under age 65, up to 21 days of consecutive coverage. Covers up to $5,000,000. Does not mention if must charge trip to your card. |
| Delayed and lost baggage* | Up to $500 per person up to a maximum of $1,000 per trip for lost, stolen or damaged baggage. Up to $1,000 for baggage delay of over 6 hours. |
| Trip cancellation* | Up to $1,500 per person up to a maximum of $5,000. |
| Trip interruption* | Up to a max of $2,000 per insured person. |
| Flight delay* | Up to $500 per person per trip for flight delays of more than 4 hours. |
| Auto rental collision/loss damage* | Up to 48 days of consecutive coverage when you charge the full amount of your rental car to your card. Limited to vehicles up to $65,000 in value. The insurance will cover theft or damage to your rental car. |
| Hotel/motel burglary | Up to $1,000 per occurrence for all insured persons combined |
| Common carrier travel accident insurance*. | Up to $500,000 per insured person; entire cost of trip must be charged to the card to be eligible for insurance |
| Purchase protection* | Covers theft of or damage to items within 90 days of purchase with the card. |
| Extended warranty* | Extends a purchased item's original manufacturer's warranty by up to 1 year. Lifetime maximum coverage of $60K for Extended Warranty and Purchase Protection combined. |
For those who rent cars with some regularity, it’s worth noting that this card covers theft or damage as part of its rental car insurance*. A similar protection applies to the theft/damage of personal property items from your hotel room, which seems to be the only complete coverage exclusion from the card’s travel insurance suite.
The total amount of out-of-province emergency medical coverage is an impressive $5,000,000 (most policies only cover up to $1M)—that said, it’s only valid for the first 21 days of a trip, and it only applies to those under age 65*. The primary cardholder, their spouse, and dependent children are covered. You can pay out of pocket to Allianz, the card’s insurance provider, if you’d like an extension of the coverage period or if you’re a senior citizen in need of a separate emergency medical policy, but the out-of-pocket charge for that might be pricey.
If you’re over the age of 65 or if you frequently stay in hotels, in which case it’s highly recommended to have some form of hotel/motel burglary insurance, we recommend that you check out our list of Canadian travel rewards cards with strong travel insurance to see if there might be a better card out there for your needs.
Here's how the BMO Ascend stacks-up with its nearest competitors:
up to 60,000 pts*
Welcome Bonus
$1,812
First Year Value
$312
Annual Value
Welcome Bonus: Earn up to $1,500 in first year welcome offers, rewards and savings, including up to 60,000 bonus Scene+ points* Expires Jul 01, 2026
Get this card if you...
Annual Fee & Annual Interest Rates
$150
Annual Fee
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Our Take
The Scotiabank Passport® Visa Infinite* Card is a travel rewards credit card offering elevated Scene+ points on eligible grocery store purchases, dining, entertainment, and daily transit, with a standard earn rate on all other purchases. Cardholders benefit from no foreign transaction fees, six complimentary airport lounge visits per year through the Visa Airport Companion Program, and comprehensive travel insurance.
Eligibility
Excellent (740+)
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$150
Annual Fee
0.00%
Foreign Transaction
5.00%
Balance Transfer
$5
Cash Advance
Rewards Scene+
3x
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating Co-ops and more
2x
Scene+ points¹ for every $1 you spend on other eligible grocery stores, dining, eligible entertainment purchases and eligible daily transit options (including ride shares, buses, subways, taxis and more)
4x
Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
1x
Scene+ point for every $1 spent on all other eligible everyday purchases
Insurance Benefits
$2,000,000
Emergency medical insurance amount
3
Emergency medical insurance over 65 days
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$65,000
Rental car insurance amount
Earn up to $1,500 in first year welcome offers, rewards and savings, including up to 60,000 bonus Scene+ points*. Here's how:
$400 in travel rewards (40,000 bonus Scene+ points) for new Scotiabank Passport Visa Infinite Card clients who spend $2,000 within the first 3 months
$100 in travel rewards (10,000 bonus Scene+ points) for new Scotiabank Passport Visa Infinite Card clients who spend $10,000 within the first 6 months
$100 in travel rewards (10,000 bonus Scene+ points) when you spend $40,000 annually on your Account each year (12-months: annual points bonus).
$50 supplementary card annual fee waiver on the first supplementary card for new Scotiabank Passport Visa Infinite Card clients
$134 in foreign transaction fee savings based on average annual foreign spend per account over the last 24 months (save the 2.5% foreign transaction fee markup typically charged by other card issuers);
$369 in first year point earn potential (36,900 bonus Scene+ points) on everyday purchases based on average annual spend per account over the last 24 months with an average spend of 21% in 3X and 2X accelerator categories.
$364 value with a complimentary Visa Airport Companion Program Membership that includes 6 lounge passes (based on a ‘Preferential’ membership valued at approx. CAD$364/USD$259). Currency conversion as at November 3, 2025.
To qualify for this offer, make sure to apply for and open a new Scotiabank Passport Visa Infinite credit card account (“Account”) between January 2, 2026 and July 1, 2026.
*Savings and reward potential in first 12 months includes welcome offer value, first year point earn potential, foreign transaction fee and airport lounge savings as of November 4, 2025. Terms and Conditions Apply.
Rates, fees and other information are effective as of Jan 2,2026. Subject to change.
Our Take
The Scotiabank Passport® Visa Infinite* Card is a travel rewards credit card offering elevated Scene+ points on eligible grocery store purchases, dining, entertainment, and daily transit, with a standard earn rate on all other purchases. Cardholders benefit from no foreign transaction fees, six complimentary airport lounge visits per year through the Visa Airport Companion Program, and comprehensive travel insurance.
Eligibility
Excellent (740+)
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$150
Annual Fee
0.00%
Foreign Transaction
5.00%
Balance Transfer
$5
Cash Advance
Rewards Scene+
3x
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating Co-ops and more
2x
Scene+ points¹ for every $1 you spend on other eligible grocery stores, dining, eligible entertainment purchases and eligible daily transit options (including ride shares, buses, subways, taxis and more)
4x
Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
1x
Scene+ point for every $1 spent on all other eligible everyday purchases
Insurance Benefits
$2,000,000
Emergency medical insurance amount
3
Emergency medical insurance over 65 days
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$65,000
Rental car insurance amount
Earn up to $1,500 in first year welcome offers, rewards and savings, including up to 60,000 bonus Scene+ points*. Here's how:
$400 in travel rewards (40,000 bonus Scene+ points) for new Scotiabank Passport Visa Infinite Card clients who spend $2,000 within the first 3 months
$100 in travel rewards (10,000 bonus Scene+ points) for new Scotiabank Passport Visa Infinite Card clients who spend $10,000 within the first 6 months
$100 in travel rewards (10,000 bonus Scene+ points) when you spend $40,000 annually on your Account each year (12-months: annual points bonus).
$50 supplementary card annual fee waiver on the first supplementary card for new Scotiabank Passport Visa Infinite Card clients
$134 in foreign transaction fee savings based on average annual foreign spend per account over the last 24 months (save the 2.5% foreign transaction fee markup typically charged by other card issuers);
$369 in first year point earn potential (36,900 bonus Scene+ points) on everyday purchases based on average annual spend per account over the last 24 months with an average spend of 21% in 3X and 2X accelerator categories.
$364 value with a complimentary Visa Airport Companion Program Membership that includes 6 lounge passes (based on a ‘Preferential’ membership valued at approx. CAD$364/USD$259). Currency conversion as at November 3, 2025.
To qualify for this offer, make sure to apply for and open a new Scotiabank Passport Visa Infinite credit card account (“Account”) between January 2, 2026 and July 1, 2026.
*Savings and reward potential in first 12 months includes welcome offer value, first year point earn potential, foreign transaction fee and airport lounge savings as of November 4, 2025. Terms and Conditions Apply.
Rates, fees and other information are effective as of Jan 2,2026. Subject to change.
The Scotiabank Passport™ Visa Infinite* Card edges out the BMO Ascend World Elite®* Mastercard®* in a number of key categories. Its points are worth more when redeemed for either travel or a statement credit; its travel insurance suite has no significant weaknesses or gaps; it offers more free annual airport lounge passes; and it doesn’t charge foreign transaction fees. That said, as a Visa it won’t be accepted at some major stores, like No Frills and Canadian branches of Costco. It’s also missing some of the BMO card’s rental car benefits, like insurance coverage for personal belongings damaged or stolen in a rental car*.
Disclosures:
Rates, fees and other information are effective as of January 3, 2025. Subject to change.
Conditions Apply. Visit here for the Scotiabank Passport® Visa Infinite* Card to learn more.
*See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
up to 15,000 points
Welcome Bonus
$630
First Year Value
$480
Annual Value
Welcome Bonus: Earn up to 15,000 Welcome Bonus Membership Rewards® points* – that’s up to $150 in value.
Get this card if you...
Annual Fee & Annual Interest Rates
$191.88
Annual Fee
21.99%
Purchase
21.99%
Cash Advance
Our Take
The American Express Cobalt® Card is a versatile rewards credit card designed for individuals who frequently spend on dining, groceries and travel-related expenses. It offers flexible redemption options and includes various travel and purchase protections, making it a comprehensive choice for those seeking to maximize rewards on everyday spending.
Eligibility
Fair (300 - 619)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
25.99% - 29.99%
Penalty
Fees
$191.88
Annual Fee
2.50%
Foreign Transaction
$2.75
Cash Advance
$29
Over The Limit Penalty
$45
Return Penalty
Rewards Membership Rewards
5x
the points on eligible eats & drinks purchases in Canada
3x
the points on eligible streaming subscriptions in Canada
2x
the points on eligible gas, transit & ride share in Canada
1x
the points on everything else
1
additional Membership Rewards point for every $1 you charge on eligible hotel or car rental bookings made with American Express Travel
$100 USD
Get up to $100 USD hotel credit to use on amenities like dining, spa or other leisure facilities when charged to the room
Insurance Benefits
$1,000
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$250,000
Travel accident insurance amount
$500
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn up to 15,000 Membership Rewards® points* by earning 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 on your Card in your first year as a new Cardmember. This could add up to 15,000 points in a year.*
That’s up to $150 towards your next weekend getaway.
*Current or former Cardmembers with this Card are not eligible for this offer. Other terms apply.
Our Take
The American Express Cobalt® Card is a versatile rewards credit card designed for individuals who frequently spend on dining, groceries and travel-related expenses. It offers flexible redemption options and includes various travel and purchase protections, making it a comprehensive choice for those seeking to maximize rewards on everyday spending.
Eligibility
Fair (300 - 619)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
25.99% - 29.99%
Penalty
Fees
$191.88
Annual Fee
2.50%
Foreign Transaction
$2.75
Cash Advance
$29
Over The Limit Penalty
$45
Return Penalty
Rewards Membership Rewards
5x
the points on eligible eats & drinks purchases in Canada
3x
the points on eligible streaming subscriptions in Canada
2x
the points on eligible gas, transit & ride share in Canada
1x
the points on everything else
1
additional Membership Rewards point for every $1 you charge on eligible hotel or car rental bookings made with American Express Travel
$100 USD
Get up to $100 USD hotel credit to use on amenities like dining, spa or other leisure facilities when charged to the room
Insurance Benefits
$1,000
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$250,000
Travel accident insurance amount
$500
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn up to 15,000 Membership Rewards® points* by earning 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 on your Card in your first year as a new Cardmember. This could add up to 15,000 points in a year.*
That’s up to $150 towards your next weekend getaway.
*Current or former Cardmembers with this Card are not eligible for this offer. Other terms apply.
Amex Cobalt - winner, Best Overall in our Best Credit Cards Canada Awards
The American Express Cobalt® Card lacks some of the BMO card’s added travel goodies, like airport lounge access, but it can help you really rake in rewards points at a much faster rate than you would with BMO. If you spend $6,000 per year on groceries and $3,000 per year at restaurants you’ll earn 45,000 points with the Cobalt. And Amex Membership Rewards® points are worth more than BMO Rewards points when the time comes to redeem them. That said, Amex is not as widely accepted by stores as Mastercard, which may limit the number of points you can potentially earn, depending on where you shop.
Disclosures:
Contact American Express for the most up-to-date referral bonus figures.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
As Reddit user, /u/Primary_Tangerine625 explains, the best use of your BMO rewards is redeeming them for travel rewards or investing them through BMO's Investorline.
The best rate is redeeming for travel or as a transfer of cash to an investment account like BMO InvestorLine. It’s effectively a cash back card if you transfer to InvestorLine.
/u/Primary_Tangerine625
For individuals seeking a credit card offering comprehensive travel insurance, lounge access, and a reasonably flexible rewards program, this card is a worthwhile choice. Moreover, if you frequently shop at Costco, owning a Mastercard of this caliber proves to be an excellent option.
In order to qualify for the BMO Ascend World Elite®* Mastercard®* you must meet the following requirements:
*Terms and conditions apply.
BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
Rudro is an editor with Money.ca. Rudro had previously served as Managing Editor of Oola, and as the Content Lead of Tickld before that. Rudro holds a Bachelor of Science in Psychology from the University of Toronto.
Cory Santos is a finance writer, editor and credit card expert with nearly a decade of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, BlogTO, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk. He's also the creator and author of the annual Money.ca Credit Card Awards.
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†Terms and Conditions apply.