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Mr. Loonie
BMO Ascend World Elite Business Mastercard

BMO Ascend World Elite Business Mastercard

Best for: Business owners who spend on gas, phone bills and office supplies and want lounge passes

Your spending a month
What’s in each?
Solo:
Office supplies $100, shipping $50, phone and internet $150, software $150, online ads $200, gas $250, restaurants $200, travel $250, everything else (base rate) $1,050, foreign currency $100
Small team:
Office supplies $250, shipping $200, phone and internet $300, software $400, online ads $600, gas $500, restaurants $400, travel $400, everything else (base rate) $2,650, foreign currency $300
Growing:
Office supplies $500, shipping $600, phone and internet $600, software $1,000, online ads $2,000, gas $1,000, restaurants $800, travel $1,200, everything else (base rate) $6,300, foreign currency $1,000
Year one
$1,580
Every year after
$1,070

Ranked #13 of 27 business cards for year one. See the list

See how we worked it out
Welcome offer you’d get
$335
The full offer. Up to 50,000 BMO Rewards points.
Annual fee
$0 first year
Then $175 a year
Apply now on BMO’s site (opens in a new tab)
Needs $80,000 personal or $150,000 household income
We may get paid if you apply through this link. It never changes our score.

Have this card?

Details from BMO’s site. Banks can update terms at any time, so give them a quick look before you apply. Source

Is it for me? What you’d earn Welcome offer Can I get it? Fees Similar cards
3 quick questions

Is it for me?

Do you spend $550 or more a month on gas, recurring bills and office supplies?

Is your personal income $80,000 or more, or your household’s $150,000 or more?

Do you pay your card off in full most months?

Answer the 3 questions to see if it fits.

From the numbers

The good and the bad

Stands out

  • Good: 4 points per $1 on gas, recurring bills, office supplies and phone and internet At our value for these points, that’s about 2.7% back.
  • Good: No fee in the first year Then $175 a year.
  • Good: Welcome offer up to 50,000 BMO Rewards points About $335 at our value for these points.

Watch for

  • Watch for: $175 a year from year two You need about $550 a month on gas, recurring bills and office supplies to earn it back.
  • Watch for: 2.5% on foreign purchases Use a no foreign fee card when you travel.

Worked out from the card’s rates and fees.

Show your work

What you’d earn

With small team spending of $6,000 a month.

BMO Rewards points valued at 0.67¢ each.

  • Office supplies $80
    4 points per $1 · 2.7% back $250 a month · 12,000 BMO Rewards points a year
  • Shipping $24
    1.5 points per $1 · 1% back $200 a month · 3,600 BMO Rewards points a year
  • Phone and internet $96
    4 points per $1 · 2.7% back $300 a month · 14,400 BMO Rewards points a year
  • Software $48
    1.5 points per $1 · 1% back $400 a month · 7,200 BMO Rewards points a year
  • Online ads $72
    1.5 points per $1 · 1% back $600 a month · 10,800 BMO Rewards points a year
  • Gas $161
    4 points per $1 · 2.7% back $500 a month · 24,000 BMO Rewards points a year
  • Restaurants $48
    1.5 points per $1 · 1% back $400 a month · 7,200 BMO Rewards points a year
  • Travel $48
    1.5 points per $1 · 1% back $400 a month · 7,200 BMO Rewards points a year
  • Everything else $320
    1.5 points per $1 · 1% back $2,650 a month · 47,700 BMO Rewards points a year
  • Foreign currency $36
    1.5 points per $1 · 1% back $300 a month · 5,400 BMO Rewards points a year
For you Year one Later years
Points you earn139,500 BMO Rewards points a year, at 0.67¢ each $935 $935
Welcome offer50,000 BMO Rewards points you’d reach $335 $0
Annual fee $0 −$175
Foreign currency fee2.5% on $3,600 a year −$90 −$90
Lounge visits2 visits at $45 $90 $90
Travel medical insurance2 trips at $50 $100 $100
Rental car damage cover2 rentals of 3 days at $35 a day $210 $210
Total $1,580 $1,070

Rows are rounded to the dollar. Insurance counts at what the same cover costs on its own, and only pays when you charge the trip, rental or phone to the card.

What counts in each category
Gas
4 points per $1
Recurring bills
4 points per $1 On cell phone and internet bill payments
Everything else (base rate)
1.5 points per $1
Office supplies
4 points per $1 office supplies
Phone and internet
4 points per $1 cellphone and internet bill payments

4 points per $1 spent on office supplies

How BMO Rewards points work, and why 0.67¢

We count BMO Rewards points at 0.67¢ each, a typical value when you use them well. Depending on how you use them, they’re usually worth 0.33¢ to 0.67¢.

We set one value per points program and use it on every card in that program, so you can compare points cards and cash back cards on the same scale.

These are example budgets to compare cards side by side, not averages. Your own spending will give a different number.

Checked on Nov 10, 2026. Source

Welcome offer

Can your spending get the offer?

At $6,000 a month, here’s when you’d reach each step.

  1. 1

    50,000 BMO Rewards points · about $335

    Spend $10,000 in your first 4 months.

    You’d reach it in month 2.

    • On purchases within the first 110 days of account opening
    • Earn an additional 50,000 bonus points when spend a minimum of $20000 within the first 180 days of account opening
    • Earn a further 50,000 bonus points when spend a minimum of $30000 within the first 365 days of account opening

Offer end date not published.

Before you apply

Can I get it?

  • Age 18 or older 19 or older in BC, NB, NL, NS and the territories
  • Where you live Canada
  • Personal income $80,000 or more Issuer says
  • Household income $150,000 or more Issuer says
  • Credit score No minimum on record Most banks don’t publish one, and we don’t guess.

Checked on Nov 8, 2026. Source

Mr. Loonie’s tip Each application shows up on your credit file. Leave a few months between card applications.

What critics say

Other reviewers on this card

  • Yore Oyster (opens in a new tab) Jan 2023

    “A reward point credit card targeted toward business owners in Canada. In addition to its high earning rate, the card also offers a good combination of travel insurance coverage and virtual healthcare benefits.”

  • Finder (opens in a new tab) Nov 2021

    “The BMO World Elite Business Mastercard could be the right card for you if you want to collect BMO points for business purchases. This card lets you earn 4 points for every dollar you spend on gas, office supplies and Internet/mobile bill payments. It also comes with a welcome offer, travel perks and access to virtual health insurance.”

What cardholders say

Ratings from people with this card

No ratings yet. If you have this card, tell others what it’s like.

Applied and weren’t approved?

Insurance and perks

What comes with it

  • Car rental damage Included
  • Extended warranty Included
  • Purchase protection Included
  • Travel medical $5,000,000 per person
  • Trip cancellation Included
  • Flight delay Included
  • Lost baggage Included
  • Trip interruption Included
  • Lounges: Dragonpass 2 free visits
  • Airport lounge access with free annual membership to Mastercard Travel Pass provided by DragonPass, plus 2 free passes a year.
  • Five free virtual care visits with a registered Canadian Doctor whenever you need with Maple
  • Liability Waiver Program
  • Mastercard Easy Savings
  • Baggage delay insurance
  • Trip interruption insurace
Coverage limits

Travel medical. Up to 15 days per trip.

Not included

Not listed for this card: mobile device.

Fees and interest

What it costs

Annual fee
$0 first year Then $175 a year
Purchase interest
18.99%
Cash advance interest
23.99%
Foreign currency fee
2.5%
All fees and rates

Fees

Fee waivers
First year: $175 off (Waived on the first year)
Cash advance fee
1%, Minimum of $5
Balance transfer fee
5%, Maximum
Over-limit fee
None
Late payment fee
None
Source
Issuer page

Interest rates

Balance transfer interest
23.99%
Source
Issuer page

Read the card terms and conditions for the full terms.

Checked on Nov 8, 2026. Source

Before you decide

Similar cards for the same spending

With small team spending. This card: $1,580 year one, $1,070 every year after.

See all cards ranked for your spending

Some of these links pay us when you apply, at no extra cost to you. Most don’t, and pay never changes our score. How we make money

Common questions

Questions people ask

What is the annual fee on the BMO Ascend World Elite Business Mastercard?

$0 the first year, then $175 a year.

How much is the BMO Ascend World Elite Business Mastercard welcome offer worth?

50,000 BMO Rewards points after you spend $10,000 in the first 4 months, worth about $335.

What income do I need?

BMO asks for $80,000 in personal income.

Does it charge a foreign transaction fee?

Yes, 2.5% on purchases in other currencies.

What is the interest rate?

18.99% on purchases. Cash advances are 23.99%.

Does it include insurance?

It lists extended warranty, purchase protection and baggage delay insurance. Read the insurance certificate for the limits.

Rates, fees and offers come from the card issuers and change often. We work to keep this page accurate and current, but it may contain mistakes, so always check the issuer’s terms before you apply. This page is general information and isn’t financial advice.

Spot something wrong? We’ll check it with the bank. Suggest a correction

Card names, logos and trademarks belong to their owners. No issuer wrote, paid for or approved what we say about this card. Our scores and opinions are our own.

Mr. Loonie is independent and supported by affiliate links. We may earn a commission when you apply through some links, at no cost to you. How we make money

$1,580
year one for you
Apply now on BMO’s site (opens in a new tab)
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