If you often travel and you are searching for the credit card that would fit your type of life, then you should turn your attention on the BMO Ascend World Elite Mastercard. This card has been created for travelers because, whether for business or leisure, it allows you to have a luxurious and tailored trip and to benefit from flexible and advantageous rewards. 

From being able to earn points to your everyday purchase to being able to take advantage of some special travel privileges, this card makes sure that your travelling is both fun and as smooth as possible. Still, this is not the only advantage a traveler can get from this card – it is equally as useful when it comes to one’s finances and maximizing the potential of the money being spent.

Main features of the BMO Ascend World Elite Mastercard 

The BMO Ascend World Elite Mastercard is provided by the Bank of Montreal, a major financial institution in the country of Canada. This card suits the high income earners in the society and highly income earners’ households and especially those who like moving around by air, entertainments events among others. 

The card also features lucrative point earning on its eligible purchases of points that can be used for traveling, merchandise or even investing in stocks. However the card is not solely focused on the incentives as it also is equipped with a travel and medical benefits package that will help you have the most worry-free trip possible.

Understanding the annual fee 

Another common feature of a lot of high-end credit cards is that the BMO Ascend World Elite Mastercard charges an annual fee. But this fee is not just the cost; it is the cost that gives a variety of values that add the variety to the overall experience. The minimum annual fee is $150 but this fee is not charged in the first year of membership hence allowing one to feel the taste of the benefits accorded to those with this card before being charged.

Deciphering credit limits

Basically, BMO prescribes a limit when you apply for the card, depending on your income, credit check and other credits you have. Generally, credit card customers earning higher salaries and having good scores on credit reports will be given bigger credit limits. 

But it also takes into account your spending capacity and how you pay back any credits given to you to make sure that the allowed limit is reasonable and near your behaviour. This makes credit consumption to be well controlled thus reducing the danger of over borrowing and misuse of credit. 

Advantages of the BMO Ascend World Elite Mastercard

• Points on Purchases: : 5X Points on Travel, 3X Points on Dining with Restaurants, Entertainment, and Recurring Services, and 1X Points on All Other Purchases.
• Airport Lounge Access: With DragonPass, you are allowed to have four free access to lounge each year so that you can wait comfortably before boarding.
• Travel and Medical Insurance: Emergency medical: Up to $5,000,000, travel accident: Up to $100,000, trip cancellation/interruption: Up to $10,000, baggage: up to $1,000.

Standout advantage

The hallmark in BMO Ascend World Elite Mastercard is the travel rewards programs which are by far the most appealing to customers. This is a perfect card for anyone who lives out of briefcase or spends a lot of time in an airplane, as you get 5x points for travel related purchases. 

Addressing potential drawbacks

• High Income Requirement: The card has the minimum credit annual income of $80000 for an individual or $150000 for a household, which narrows down the application of the card to certain persons.
• Annual Fee: Yes, the fee is only $150 per year but it does reoccur annually while the free membership offers users a trial run for the first year, maybe to test waters to see if one is going to use the benefit offered by the card often enough.
• Foreign Transaction Fees: The card also attracts fees for the purchase made outside the country, something that may prove costly, more so to frequent travelers.

Standout disadvantage

Apart from the great perks involved, the best downside of the BMO Ascend World Elite Mastercard is the income requirement. This card is targeted at a particular group of people with an individual income of at least $80000 or a household income of not less than $150000. 

Eligibility criteria 

First of all, one of the main conditions for obtaining a loan is the minimum income: for individuals – $80,000 per year, for households – $150,000 per year. Also, you should have a credit history because BMO will review your credit history before approving your application. In addition, applicants have to be residents of Canada as of the date of submitting their application and be of the age of majority in their province or territory of residence. 

How to apply for the BMO Ascend World Elite Mastercard

To be eligible for the BMO Ascend World Elite Mastercard, you must formally apply and have basic understanding of the terms before signing on. Applying for a BMO credit card is equally easy as the bank provides the customer with multiple platforms for applying for the credit card. 

Via website

Out of all the ways to apply for the BMO Ascend World Elite Mastercard, it may be the simplest to do it through the internet. All the details about the card can be obtained through BMO’s official site that features the credit cards section. From there you can start the application by completing an online application form where you will be required to enter your personal and financial information. 

The website is easy to navigate and prompts the user to provide every detail that it may require. After filing the application, the acceptance or rejection of the application is processed for a few minutes enabling one get a quick response. This will be suitable for clients, who need as soon as possible to begin using their card.

Through the mobile application

The process of applying using the app is as follows: filling in the necessary information and sending your request as does when applying via Internet. Another benefit of using the app is that its input forms include pre-filled data from your BMO accounts which means that the processing of the application ought to be very fast. 

Through the store/branch

For more customized service, the BMO Ascend World Elite Mastercard can be applied for in any BMO branch. If you’re ever in a branch then you will be able to speak to a BMO specialist who will help you fill in the application and who will be able to explain any queries you have and offer advice on the best product for your circumstances.