The BMO Ascend World Elite Mastercard stands out in the Canadian credit card market for its significant introductory offer and benefits. New applicants can enjoy up to $1,600 in value including a full waiver of annual fees in the first year. The card has an annual interest rate of 21.99% for purchases and 23.99% for cash advances outside Quebec, with a $150 regular annual fee after the first year. Qualifying typically requires a minimum annual income of $80,000 (individual) or $150,000 (household).

How to Apply: Step by Step

1. Visit the card provider’s online application page.
2. Fill in your Canadian residency and identification details accurately.
3. Submit your income and employment information to meet eligibility.
4. Review your application for accuracy, then submit online.
5. Watch your mail for the physical card upon approval, and activate it promptly.

Key Pros of the BMO Ascend World Elite Mastercard

The welcome bonus is quite generous, with up to $1,600 in value and the first year’s fee waived, which appeals to new cardholders seeking maximum upfront rewards.

This credit card also features travel-oriented perks such as access to the BMO Rewards program, making it a strong option if you collect points for flights, hotels, or other travel expenses.

Possible Cons to Consider

The annual income requirement is on the higher end compared to many Canadian cards, which could exclude moderate earners.

After the first year, the $150 annual fee kicks in, so cost-conscious applicants should confirm they’ll maximize points and benefits to make this worthwhile.

Our Verdict

If you qualify and want top-tier perks, the BMO Ascend World Elite Mastercard is appealing with its generous intro offer and travel rewards. Yet, the ongoing fee and higher qualification bar must suit your situation. Consider your travel and spending habits before applying to ensure the benefits outweigh the costs.