BMO Ascend World Elite Business Mastercard review
Best for: Businesses with high gas, office supply and phone or internet costs that want points and lounge access.
- Rewards rate
- 1.5x - 4x points
- Annual fee
- $149
- Interest rates
- 20.99% / 22.99% Purchase / cash advance
- FX fee
- 2.5%
The bottom line
The Ascend Business earns 4 points per dollar on gas, office supplies, and phone and internet bills, and a strong 1.5 points on everything else. The $149 annual fee is waived in the first year, and airport lounge access is included. Watch the 2.5% foreign transaction fee if you pay overseas suppliers or travel abroad for work.
Rewards & earn rates
| Category | Earn rate |
|---|---|
| Gas & Office Supplies & Phone & Internet | 4x |
| Everything Else | 1.5x |
Rates & fees
| Annual fee | $149First Year Free |
|---|---|
| Monthly equivalent | $12.42 |
| Foreign transaction fee | 2.5% |
| Purchase interest rate | 20.99% |
| Cash advance rate | 22.99% |
| Network | Mastercard |
Perks & benefits
- Lounge Access
Eligibility
- Recommended credit score
- 720+ (excellent)
- Minimum personal income
- None stated
- Minimum household income
- None stated
Pros & cons
Pros
- 4x points on gas, office supplies, and phone and internet bills
- 1.5 points per dollar on all other purchases
- Annual fee waived in the first year
- Airport lounge access included
Cons
- $149 annual fee from the second year
- 2.5% foreign transaction fee on foreign currency purchases
- Requires $80,000 in personal income, according to its listing
Our detailed review
How the Ascend Business earns points
The BMO Ascend World Elite Business Mastercard pays its top rate on three costs most small businesses can’t avoid. Gas, office supplies, and phone and internet bills earn 4 points per dollar, and everything else earns 1.5 points. That 1.5x base rate is the card’s quiet strength: it keeps earning on inventory, software, advertising and other costs that fall outside the bonus categories.
For example, a business spending $500 a month on gas, $300 on office supplies, $200 on phone and internet, and $3,000 on other expenses would earn 4,000 points from the bonus categories and 4,500 points from everything else. That’s 8,500 points a month, or 102,000 points a year.
Lounge access and building points
Beyond points, the Ascend Business includes airport lounge access, which is useful if you or your team travel for work. Our data doesn’t specify the lounge network or the number of visits included, so check those details with BMO before you rely on them.
Because the 4x categories cover routine costs, points build up without changing how the business spends. To get the most from the card, move recurring phone and internet bills onto it and use it for every fuel stop and supply order, keeping a 1.5x rate on everything else.
Fees, interest and the fine print
The annual fee is $149, but it’s waived for the first year, so you can test whether the earn rates suit your business before paying anything. From the second year, $149 works out to about $12.42 a month.
Purchases in a foreign currency carry a 2.5% foreign transaction fee, so $1,000 paid to a US supplier or spent on a trip abroad costs about $25 extra. Purchases are charged 20.99% interest and cash advances 22.99%. Paying the full statement balance each month avoids purchase interest, which matters on a business card that may carry large monthly bills.
Who it suits, and who should look elsewhere
The Ascend Business is a good match for trades, delivery and field-service businesses with high fuel costs, and for offices with steady supply and telecom bills. The first-year fee waiver also makes it a low-risk way to try a premium business card.
It’s less suited to a business that mostly buys from foreign suppliers, because of the 2.5% fee, or one with low monthly spending, where a no-fee business card may be simpler and cheaper to hold.
How it compares
BMO’s own CashBack Business Mastercard has no annual fee and pays 1.5% cash back on gas, on phone and internet bills and at office supply stores, with 0.75% on everything else. It’s the better pick if you’d rather have cash back and don’t want to pay a fee after the first year.
The RBC Avion Visa Infinite Business costs $175 a year and earns a flat 1.25 points per dollar on all purchases. It’s simpler, but the Ascend Business earns more points per dollar in both its bonus categories and its base rate, for a lower fee. Using the example above, the Avion card would earn 60,000 points a year on the same $4,000 of monthly spending, against 102,000 on the Ascend Business, though BMO and RBC points belong to different programs and aren’t directly comparable.
Before you apply
The recommended credit score is 720 or higher, and the card’s listing notes a personal income requirement of $80,000. BMO makes the final decision based on your full credit and business profile.
A welcome offer may be available, but its size and spending requirement aren’t confirmed here. Check the BMO website for current terms, fees and rates before you apply.
How it compares
- 78 of the 105 credit cards we track cost less per year, and 26 cost more.
- Charges the same 2.5% foreign transaction fee as 94 other cards we track.
- Spending $1,000 in a foreign currency adds about $25 in FX fees, or $125 on $5,000.
Side by side with similar picks
| BMO Ascend World Elite Business Mastercard |  Marriott Bonvoy Business American Express Card |  National Bank World Elite Mastercard |  CIBC Aeroplan Visa Infinite | |
|---|---|---|---|---|
| Annual fee | $149 | $150 | $150 | $139 |
| FX fee | 2.5% | 2.5% | 2.5% | 2.5% |
| Rewards rate | 1.5x - 4x | 2x - 5x | 1x - 5x | 1x - 1.5x |
| Purchase interest | 20.99% | 20.99% | 20.99% | 20.99% |
| Welcome bonus | — | — | — | Up to 50,000 Aeroplan points |
| Offered by | BMO | American Express | National Bank | CIBC |
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Frequently asked questions
Does the BMO Ascend World Elite Business Mastercard have an annual fee?
Yes. The BMO Ascend World Elite Business Mastercard has an annual fee of $149, about $12.42 a month. First Year Free.
Does the BMO Ascend World Elite Business Mastercard charge foreign transaction fees?
Yes. The BMO Ascend World Elite Business Mastercard charges a 2.5% foreign transaction fee on purchases in currencies other than Canadian dollars.
How much does the BMO Ascend World Elite Business Mastercard earn?
4x on gas & office supplies & phone & internet, 1.5x on everything else.
What is the interest rate on the BMO Ascend World Elite Business Mastercard?
20.99% on purchases and 22.99% on cash advances. You can avoid purchase interest by paying your full statement balance by the due date.
What credit score do you need for the BMO Ascend World Elite Business Mastercard?
The recommended credit score for the BMO Ascend World Elite Business Mastercard is 720+ (excellent). BMO makes the final decision based on your full credit profile.
What earns 4 points per dollar on the BMO Ascend World Elite Business Mastercard?
Gas, office supplies, and phone and internet bills earn 4 points per dollar. All other purchases earn 1.5 points per dollar.
Is the BMO Ascend Business card worth it after the first year?
It can be if your business has steady fuel, office supply and telecom costs. A business spending $1,000 a month in those categories and $3,000 elsewhere earns 102,000 points a year, against a $149 fee from year two. If you spend little in the 4x categories and won’t use the lounge access, a no-fee card may be a better fit.
Does the BMO Ascend World Elite Business Mastercard include lounge access?
Yes, airport lounge access is listed as a perk. Check BMO’s terms for the lounge network and how many visits are included.
Who offers the BMO Ascend World Elite Business Mastercard?
The BMO Ascend World Elite Business Mastercard is offered by BMO. Applications are reviewed and approved by BMO, not by CreditLab.
Rates, fees and offers come from BMO’s published terms and can change at any time. Confirm the current terms with BMO before applying. CreditLab may earn a commission from partner links; this never changes the facts we show. See our methodology.