This is BMO's mid-priced travel card, and I think of it as an insurance card that also earns points. For $150 a year, waived in year one, you get trip cancellation, trip interruption, flight delay and baggage cover on top of $5 million of travel medical, plus 5x on travel and 3x on dining, entertainment and recurring bills.
Where I'd temper expectations is the points. BMO Rewards are worth 0.67 cents each when you redeem against travel, so 5x is about 3.3% back and 3x about 2%, with nothing that transfers to an airline or hotel. I'd point it at someone who books their own trips, wants decent built-in insurance, and banks with BMO, since a Premium Plan account can rebate the fee every year.
Welcome offer
BMO is running a limited-time offer of up to 115,000 BMO Rewards points on the Ascend World Elite, up from 100,000, verified on the BMO page on October 13, 2026. Applications must be received between September 15 and December 7, 2026. The points come in three steps: 60,000 after $5,000 in net purchases in the first 110 days, 20,000 more once you reach $10,000 within 180 days, and a further 35,000 at $20,000 within the first 12 months.
BMO values the full 115,000 at up to $767 against travel at 150 points per dollar, and builds a larger "up to $1,900" headline by adding the first-year fee waiver, a NEXUS credit of up to $200, the lounge membership and passes, and Instacart. Bonus points can be cancelled if the card is closed within 365 days, and the offer is closed to anyone reopening the card or switching in from another BMO card. New accounts also get 0% on balance transfers for the first 12 statement periods, with a 2% fee.
The first tier carries most of the value: 60,000 points for $5,000 in 110 days is about $1,400 a month and worth up to $400 in travel at BMO's rate. Reaching all three tiers takes $20,000 in a year, roughly $1,700 a month, which is realistic if this becomes the household's main card. Add any authorized users when you apply, since their first-year fee is only waived if they are on the application.
Fees & eligibility
The card costs $150 a year, rebated in the first year under the current offer for the primary card and for any additional cards added at the time of application. Additional cards are otherwise $50 each. BMO also rebates the $150 primary fee every year for holders of a BMO Premium Plan account, provided the card has at least $15,000 in qualifying purchases in the card year; the rebate does not cover additional cards.
Eligibility is the World Elite bar: $80,000 personal or $150,000 household income. Purchases carry 21.99% interest and cash advances and balance transfers 23.99% (21.99% in Quebec). Foreign currency purchases cost 2.5% on top of the network rate, a real drawback for a travel card. The rewards are only worth chasing if the balance is paid in full each month.
Earning rewards
Travel earns 5 BMO Rewards points per dollar on the first $15,000 a year: airlines, car rental agencies, hotels and resorts, cruise lines, passenger rail, tour operators, timeshares and travel agencies. Dining, entertainment and recurring bill payments each earn 3 points per dollar, on up to $10,000 a year per category.
Everything else earns 1 point per dollar, and so does spending past a cap. Caps reset every January 1. Entertainment is defined broadly, covering movie theatres, live shows, ticket agencies, attractions, amusement parks and zoos. Recurring bills are payments the merchant charges to the card automatically each month, and not every ongoing payment is classed that way.
Redeeming rewards
BMO Rewards has no airline or hotel transfer partners, so value comes from Pay with Points: book travel with any provider on the card, then cover the charge with points within 90 days. Travel redeems at 150 points per $1, or 0.67 cents per point (cpp), the best fixed rate in the program.
Other purchases redeem at 200 points per $1 (0.5 cpp), a quarter less, and points can also go toward a contribution to a BMO savings or investment account. Merchandise, gift cards and charity round out the menu, with a $1 minimum redemption.
Perks & benefits
The headline perk is a Mastercard Travel Pass membership run by DragonPass with 4 complimentary lounge passes each calendar year, which you can use yourself or for a travelling companion; extra visits cost US$32 per person. In year one there is also an up to $200 NEXUS statement credit.
The rest is a long list of discounts: up to 30% off Avis and 35% off Budget when you prepay, up to 20% off National and Alamo and 5% off Enterprise, a FlexiRoam eSIM with 3GB of global data a year, six months of Instacart+ with a $10 monthly credit, and Cirque du Soleil savings. There is no annual travel credit, no airline status and no foreign fee waiver.
Insurance
For a $150 card the insurance is broad, underwritten by CUMIS. Emergency medical pays up to $5 million per person for the first 21 days of a trip, for travellers aged 64 or under, and the trip does not need to be charged to the card. There is no medical cover at 65 or over. Trip cancellation pays up to $1,500 per person ($5,000 per trip) and trip interruption or delay up to $2,000 per person ($10,000 per trip) when the trip is paid in full or in part on the card.
Flight delays over 4 hours are covered up to $500 per trip, delayed bags (6 hours or more) up to $500 per person, and lost or damaged bags up to $500 per person ($1,000 per trip). Rentals with an MSRP up to $65,000 are covered for 48 days, purchases for 90 days, and warranties are doubled by up to 1 extra year. There is no mobile device insurance.
My take
I'd get the Ascend if you want trip cancellation and delay cover on a sub-$200 card and spend a fair amount on travel and dining; if most of your spending is groceries and gas, I'd look elsewhere.
What sells me on this card is the insurance-per-dollar. Trip cancellation, interruption, flight delay, baggage and hotel burglary on a $150 card, free in year one and potentially free every year with a BMO Premium Plan, is a solid package. The 115,000-point offer adds up to $767 in travel for $20,000 in spend, and the first 60,000 points come at a manageable $5,000.
The earning is narrower than it looks. Groceries and gas earn 1x, the 5x travel rate stops at $15,000 a year, and at 0.67 cpp with no transfer partners there is no way to stretch the points. The 2.5% FX fee also works against a card built around travel. If your spending is mostly groceries, dining and gas, I'd compare it with BMO's own $120 eclipse Visa Infinite, which earns 5x on those everyday categories.
The good
- Trip cancellation, delay and baggage insurance on a $150 card
- No fee in year one and a yearly rebate with a Premium Plan account
- 115,000-point offer, with 60,000 points for $5,000 in 110 days
The catch
- Points worth 0.67 cpp at best, no transfer partners
- Groceries and gas earn only 1x
- 2.5% FX fee on a travel card