BMO Ascend World Elite®* Business Mastercard®*
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Travel
Card highlights
Welcome bonus
Ratehub’s review
Natasha Macmillan
The BMO World Elite Business Mastercard is a great choice for small businesses. You’ll earn BMO points on common business expenses like gas, office supplies and internet bills.
Pros
- Earn points on common business expenses: Unlike some other cards which reward the same amount of points regardless of the purchase category, the BMO World Elite Business card offers a high rate of 4 points per dollar on gas, office supplies, cell phone and internet bills. The base rate of 1.5 points per dollar is pretty generous, too
- Earn flexible points: BMO points can be applied for travel bookings, merchandise, investments, gift cards and statement credits
- Discounts: Get discounts on Shell fuel and automatic rebated when you shop at select merchants with your BMO World Elite Business card
Cons
- Fee for additional cards: You’ll get up to 22 additional cards for employees, but you have to pay a $50 annual fee for each card, which can really add up – especially for small businesses
- Point values: BMO points are most valuable for travel redemptions, so if you don’t plan on redeeming points for travel expenses and purely want to use them to pay off your card balance, you may want to go with another card
Rewards & bonuses
See what you could earn based on how you spend.
Welcome bonus
Earn up to $668.
$135 in value (20,000 BMO Rewards Points) when you make your first purchase*. Up to $535 in value (8,000 BMO Rewards Points from months 3-12) when you spend $3,000 each month*
Earn rates
4 points/$1
On gas, office supplies, cell phone/internet bill payments*Up to $4,167 / month, then 1.5 points/$1
1.5 points/$1
On every $1 you spend*
Caps apply where shown. Rewards are earned on eligible purchases only, see the card’s terms for full details. 150 points = $1.
Your earning potential
First year reward
Based on spending $2,200/mo after $149 annual fee
Second year reward
Based on spending $2,200/mo after $149 annual fee
These numbers are based on estimations and the calculation breakdown below.
Adjust your spending
First year reward†
- If you spend $2,200/month, you’ll earn
- Welcome bonus
- Annual feefirst year waived
- First year reward
Second year reward†
- If you spend $2,200/month, you’ll earn
- Annual fee
- Second year reward
† Estimate calculated by Ratehub.ca and is based on current offers and a monthly spend of $2,200. It is for illustrative purposes only.
Perks & insurance
Perks and insurance coverage included with the card.
| Perks | Details | |
|---|---|---|
| Lounge access | Included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| No foreign exchange fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Extended warranty | Included | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Not included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
| Insurance | Details | |
|---|---|---|
| Travel accident insurance | Included | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Included | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | Included | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Not included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Not included | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
Details & eligibility
Fees
- Annual fee
- $0 for the first year, then $149 per year after
- Balance transfer fee
- 3% of transferred balance
Rates
- Purchase interest
- 18.99%
- Balance transfer rate
- 23.99%
- Cash advance rate
- 23.99%
Type
- Provider
- Bank of Montreal
- Card type
- Travel
- Payment network
- Mastercard
Eligibility
- Minimum personal income
- $80,000
- Minimum household income
- $150,000
- Minimum credit score
- 660+