The BMO Ascend World Elite Mastercard stands out with its enticing welcome offer. New cardholders can earn up to $1,600 in value, including a waived annual fee for the first year. The card provides a 0% introductory interest rate on balance transfers for 12 months with a modest 2% transfer fee.

The annual fee is $150 after the first year. The ongoing interest rate for purchases is 21.99%, and for cash advances it’s 23.99% (Quebec residents get 21.99%). Eligible applicants need at least $80,000 personal or $150,000 household annual income.

How to Apply for the BMO Ascend World Elite Mastercard

• Ensure you meet the income requirements.
• Complete the online application with your personal and financial details.
• Submit identification and consent to a credit check.
• Wait for approval and card delivery by mail.
• Activate your card online or via the BMO app.

Key Pros of the BMO Ascend World Elite Mastercard

This card offers outstanding travel rewards through the BMO Rewards program and provides valuable perks such as airport lounge access and travel insurance benefits. Frequent travellers will appreciate the earning potential and comprehensive insurance coverage.

Another major advantage is the waived annual fee for the first year, making it easier to maximize your bonus rewards and try the card with minimal upfront costs.

A Couple of Cons to Consider

The main drawback is the high minimum income requirement, which places this card out of reach for some applicants. Additionally, the regular annual fee of $150 after the first year is higher than some other cards.

Ongoing interest rates for purchases and cash advances are on the higher end, which is a factor for those who plan to carry a balance month-to-month.

Verdict: Is the BMO Ascend World Elite Mastercard Worth It?

For those who qualify, the BMO Ascend World Elite Mastercard is a top contender for travellers and rewards seekers. With its huge welcome bonus, rewards flexibility, and premium perks, this card is a smart choice if you meet the minimum income requirement and can take full advantage of its features.