This article seeks to establish that in this dynamics of the more polished array of credit cards, BMO Ascend World Elite®* Mastercard®* fits the bill. Intended for travellers, hedonists, and those who value the absence of unnecessary problems with the financial side of life, here you can find the benefits of rewards, protection, and optimization that can enhance your daily life.

Packed with a generous welcome bonus, a robust rewards program, and an array of valuable perks that cater both to frequent travelers and everyday spenders, the BMO Ascend World Elite® Mastercard®* is a credit card that deserves your attention. Whether you’re booking flights, dining out, or managing your routine expenses, this card offers the flexibility and benefits that make it a strong contender in the premium credit card market.

Key information about the BMO Ascend World Elite®* Mastercard®

The BMO Ascend World Elite®* Mastercard®* is designed to give the cardholder everything that a modern soul craves for. The card shines with a unique rewards program , special travel privileges and greater security measures than the previous version. This separateness is also seen in the annual income qualification as well as the type of rewards which the credit card gives to its users, making it distinctly different from other commercial cards.

How does the annual fee work?

The BMO Ascend World Elite®* Mastercard®* is an annual fee of $150, the first-year free for the primary cardholder and up to additional card. This waiver places its new clients in a position where they have one year freely using all the features that the card offers without any charges. Also, if you own a BMO Premium Chequing Account, you can have this annual fee waived annually so it is even more affordable with the card.

How is the credit limit determined?

The credit limit that customers are given with the BMO Ascend World Elite®* Mastercard®* depends on credit score, annual income, and more. Given that this is a premium card, there are exacting criteria for income, which are $80,000 per year for individuals and $150,000 for families.

This threshold helps serve the card to only potential customers who are capable of utilizing it to the maximum of its capabilities and in the right manner, this is because of the premium status of the card.

Credit card benefits 

• 5x points on travel purchases: Earn five times the points for every dollar spent on eligible travel purchases, allowing you to accumulate rewards faster when booking flights, hotels, and more.
• 3x points on dining, entertainment, and recurring bills: Enjoy triple points on dining out, entertainment expenses, and recurring bills, making it easier to earn rewards on your everyday spending.
• 1x points on all other purchases: Even your regular spending earns you rewards, with one point for every dollar spent on all other purchases.
• Airport lounge access: The card includes a free membership to the Mastercard Travel Pass provided by DragonPass, along with four complimentary lounge visits per year.
• Travel and medical protection: Enjoy peace of mind with 21-day out-of-province/out-of-country emergency medical coverage, up to $5 million in coverage, and other travel protections.
• Fuel savings: Save up to seven cents per liter on Shell® fuel purchases, exclusive to BMO cardholders.

BMO rewards program

The use of an actual card that is the BMO Ascend World Elite®* Mastercard®* is somewhat overshadowed by one particular program – BMO Rewards Program. Flexibility and affordability are also observed with this program as holders can redeem with many choices of products. This has made the BMO Rewards Program to be ideal whether you are going for a luxurious vacation or you are looking forward to cutting on your expenditure when buying every day items.

Disadvantages

• High annual income requirement: With a minimum income requirement of $80,000 for individuals, this card is not accessible to everyone.
• Annual fee: Although the fee is waived for the first year, the $150 annual fee may be a deterrent for some, especially if you do not hold a BMO Premium Chequing Account.
• Foreign transaction fee: Like many credit cards, this one charges a fee for transactions made in foreign currencies, which can add up if you frequently travel internationally.

High annual income requirement

The minimum annual income restriction is still quite high to cater for many interested candidates. As with any product, it maintains that the card is accessible to its intended target market, which at the same time eliminates a massive target market. Of course, this exclusivity can be viewed as a relative advantage and disadvantage linked to a man’s or a woman’s wealth.

Who can apply for this card?

To be eligible for the BMO Ascend World Elite®* Mastercard®*, applicants must meet several criteria. The primary requirements include:

• Minimum age: You must be at least 18 years old, or the age of majority in your province or territory.
• Minimum income: As mentioned, the minimum income requirement is $80,000 for individuals or $150,000 for households.
• Credit score: A good to excellent credit score is typically required, reflecting your ability to manage credit responsibly.
• Residency: The card is available to Canadian residents, and you must have a valid Canadian address to apply.
• Proof of income: You may need to provide documentation proving your income, such as pay stubs or tax returns.

How to apply for the BMO Ascend World Elite®* Mastercard®

Online application process

To apply for the BMO Ascend World Elite®* Mastercard®, interested persons begin by following a link to the card offering at BMO. More information concerning the card can be obtained from there, including its characteristics and advantages. When you are ready to apply then locate the ‘Apply Now’ button then click on it to start the online application.

In the course of applying, the applicant will be expected to fill in some personal details like their name, address and phone number among others together with employment and financial details such as annual income respectively.

It is always advisable to bring any supporting documents that are handy, in case they are needed, for instance, pay slips or tax returns. It’s good to look at the application form and ensure that all the necessary tabs have been duly completed before the submission.

A normal response from BMO should be an approval decision and normally it takes one minute for them to come up with this response. If granted, you shall be provided with information on how to activate the card to enable you to utilize it from the time of activation.

A follow-up call will be made to you, in case additional details are required to complete the process, by BMO. It is after activating the card, that the many benefits of the card such as the reward and travel privileges can be enjoyed.