Highlights

  • Eligible gas, office-supply, and cellphone/internet-bill spending earns 4 BMO Rewards points per $1 on the first $50,000 combined each year.
  • The primary card includes 2 Mastercard Travel Pass by DragonPass lounge visits each year, plus travel, rental-car, purchase, and extended-warranty coverage.
  • You can add up to 22 employee cards, which helps keep business spending in one BMO Rewards account.
BMO Ascend World Elite Business Mastercard

Issuer: BMO
Network: Mastercard
Card type: Business credit card
Annual fee: $175 for the primary card; $50 per employee card
Foreign transaction fee: Payment-network rate + 2.50%

This card earns BMO Rewards points. You can redeem them for travel, merchandise, gift cards, BMO investment-account contributions, or Pay with Points. Redemption rates, any fees, and what you can redeem vary by channel, so do not treat the points as a single fixed value.

Related reading: 🇨🇦 BMO Rewards Points: How to Earn and Use Them

Welcome offer

[August 30, 2026 update] Up to 150,000 BMO Rewards bonus points + first-year primary and two employee-card annual fees waived (apply by June 2, 2027):

  • Spend $10,000 in eligible net purchases within the first 110 days to earn 50,000 points.
  • Spend $20,000 in eligible net purchases within the first 180 days to earn another 50,000 points.
  • Spend $30,000 in eligible net purchases within the first 365 days to earn another 50,000 points.
  • Eligible purchases exclude refunds, cash advances, cash-like transactions, interest, fees, and account adjustments. BMO says points can take up to eight weeks to post after each condition is met.
  • Current or former holders who reinstate a closed account or reopen the same product, and existing BMO credit-card holders who convert another BMO card into this product, are not eligible. The account must stay open and in good standing. If you cancel within 365 days of opening, bonus points earned in that period may be cancelled.
  • As part of the current opening offer, the first-year $175 primary annual fee is waived, and the first-year $50 fee on the first two employee cards is also waived. NEXUS application or renewal fees charged and posted to this Card in the first year can receive one statement credit of up to $200. Approval is not required; the credit follows the amount that actually posts.

Applicants must meet at least one of BMO’s published thresholds: $80,000 personal income, $150,000 household income, $250,000 business revenue, or $400,000 in assets under management.

Apply on the official website 🔗

Everyday spending

4x: Spending that Mastercard codes correctly as a gas station, office-supply store, or cellphone/internet bill earns 4 BMO Rewards points per $1. The first $50,000 combined each year across gas, office supplies, and cellphone/internet bills qualifies. Those 4 points are 1.5 base points plus 2.5 bonus points. A merchant that sells similar goods does not earn the bonus if its Merchant Category Code does not match, or if a separate in-store merchant posts under another category.

1.5x: After that $50,000 annual cap, those three categories earn 1.5 BMO Rewards points per $1, as do all other eligible purchases. Points are calculated on purchases less refunds and adjustments, then rounded down. Cash advances, foreign-currency and traveller’s-cheque purchases, cash-like transactions, interest, fees, and account adjustments do not earn points. Points do not expire while the account stays open and in good standing. After the account closes, you have 90 days to redeem, or to reinstate/open an account and link the original points account; otherwise remaining points expire.

Benefits and insurance

  • Airport lounges (Mastercard Travel Pass by DragonPass)

The primary cardholder must register for Mastercard Travel Pass first. After that, you get 2 lounge visits each calendar year, which the cardholder or a travelling companion can use. You can still enter participating lounges after those visits, but each visit costs US$32 per person. Participating locations, hours, and entry rules follow DragonPass’s current information.

  • Maple virtual care

The primary cardholder and a co-owner, if applicable, share 5 complimentary Maple virtual-care visits each calendar year, which can also be used with eligible family members. Who can use the service and what it covers follow Maple’s eligibility and terms. It is not a substitute for emergency medical care.

  • Employee cards and account management

You can add up to 22 employee cards at $50 each per year. Under the current opening offer, the first-year fee on the first two employee cards can be waived. Employee-card spending also posts to the business’s BMO Rewards account. Online and mobile banking can show transactions, manage employee cards, and lock or unlock cards.

  • BMO Business Credit Card Waiver of Liability Program and Zero Liability

BMO says the program can protect the business against employee-card misuse. Limits, exclusions, and eligibility follow the Program Description that comes with the new card. BMO also offers Zero Liability for unauthorized transactions. The business must protect the cards, PINs, and account details, and notify BMO within 24 hours after knowing or suspecting a loss, theft, or misuse; otherwise it may be responsible.

  • Mastercard Easy Savings™, Instacart, and car-rental offers

Mastercard Easy Savings™ automatically provides a 1%–25% statement rebate at eligible merchants. Participating merchants and eligible spend change. The primary cardholder can receive 6 months of Instacart+ and, while eligible, one $10 credit each month after a $50+ order on Instacart.ca paid with an eligible Canadian BMO credit card. The credit is valid that month and does not carry over. Prepaid Avis or Budget rentals booked with this Card can be up to 35% off the base rate. Location, vehicle, availability, taxes, and rental-company terms still apply.

Travel insurance

Official insurance certificate 🔗

  • Out-of-Province/Country Emergency Medical

Sudden and unforeseeable medical emergencies are covered up to $5,000,000 per insured person per trip. On the departure date you must be 64 or under, a Canadian resident, covered by a Canadian government health plan for the entire trip, and have an account in good standing. The trip does not have to be charged to this Card. The first 15 consecutive days of each trip are covered, and you can apply to pay for an extension before day 15 ends if no claimable event has occurred. The certificate has important exclusions for pre-existing conditions that were not stable in the 180 days before departure and for non-emergency treatment. Contact the Operations Centre as soon as possible in a medical emergency.

  • Trip Cancellation / Interruption / Delay

When you book, all or part of the trip cost must be paid with this Card or BMO Rewards points (if points cover only part, taxes and the remaining balance must be charged to this Card), and the account must stay in good standing. Cancellation for a covered reason is up to $1,500 per insured person and $5,000 combined for all insured people on the same trip. Interruption or delay after departure for a covered reason is up to $2,000 per person and $10,000 combined. You must notify the Operations Centre and the travel supplier within 48 hours of the incident, or a claim may be affected. This is supplementary coverage after other reimbursable sources.

  • Car Rental Collision/Loss Damage

The commercial rental can last no more than 48 days, and the vehicle’s suggested retail price can be no more than $65,000. The primary cardholder must rent the vehicle, and the full rental including taxes must be charged to this Card or paid with BMO Rewards points. If points cover only part, the remaining balance must be charged to this Card. You must decline the rental company’s CDW/LDW when you sign, unless the law prohibits declining it. When eligible, coverage can include rental damage or theft, valid towing, and the rental company’s loss-of-use charges. Vans, trucks, luxury/specialty vehicles, and other excluded categories are not covered.

  • Common Carrier

After you pay the full eligible common-carrier fare with this Card or BMO Rewards points (the same tax and points-balance rules apply), accidental death or dismemberment while boarding, riding as a passenger in, or leaving a licensed common carrier is covered up to $500,000 per insured person, and $1,500,000 combined for all insured people in the same accident. Keep the statement or payment records; the related charge must appear on the statement within 90 days of the accident.

  • Flight Delay / Baggage

When an eligible commercial flight’s arrival or departure is delayed more than 4 hours, reasonable extra accommodation and transportation costs can be reimbursed up to $500 combined for all insured people on the same trip. The ticket must be paid in full with this Card or BMO Rewards points, and you must keep the airline delay confirmation and original receipts. Baggage lost, stolen, or accidentally damaged while a common carrier has it is covered up to $500 per person and $1,000 combined per trip (maximum $500 per item). If checked baggage is delayed more than 6 hours on the way to the destination, you can buy essentials up to $500 per person per occurrence and $2,000 per person per calendar year.

  • Hotel Burglary

The full travel-accommodation cost, including taxes, must be paid with this Card or BMO Rewards points, and the account must be in good standing. If a burglary at the accommodation causes personal or business property to be lost, stolen, or damaged, it can be repaired or replaced, or reimbursed as the certificate decides, up to $1,000 combined for all insured people in the same incident. Contact the Operations Centre immediately after you learn of the incident and keep police or property documents.

Purchase insurance

  • Purchase Security

The full purchase price of goods, business property, or a gift must be charged to this Card account while it is in good standing, or paid with BMO Rewards points (if points cover only part, the remaining balance must be charged to this Card). Eligible items are covered worldwide for theft or damage for 90 days from the purchase date. The insurer may repair, replace, or reimburse the purchase price. Purchase security and extended warranty share a lifetime maximum of $60,000 per account, and this is supplementary coverage after other insurance, compensation, or warranties. Cash and tickets, animals, consumables/perishables, undelivered online purchases, used or refurbished goods, motor vehicles, unexplained disappearance, and items left behind are not covered. Contact the Operations Centre immediately after you learn of a loss.

  • Extended Warranty

Eligible goods must also be paid in full with this Card, and the original manufacturer’s warranty must be valid in Canada. Coverage can extend that warranty by up to one extra year and pays the lower of repair or replacement cost under the original warranty. If the original warranty is longer than five years, you must register within one year of purchase. Used or refurbished goods, vehicles, and lifetime-warranty items are not covered. This benefit shares the $60,000 lifetime account maximum with purchase security and is supplementary to other coverage. Contact the Operations Centre immediately after an incident and submit the proof of purchase, original warranty, and repair documents it requests.

Takeaway

The BMO Ascend World Elite Business Mastercard is for applicants who can put a meaningful amount of everyday business spending on one card. The 4x categories and $50,000 combined annual cap are especially useful if you spend a lot on gas, office supplies, and communications. The annual fee is not low, and the welcome offer requires $30,000 in eligible spend within a year. It suits business owners who already have that spending and will also use the travel coverage, lounge visits, or NEXUS credit. Before you apply, weigh the cost against your income/asset eligibility, how many employee cards you need, and the spend pace you can actually finish.