Up to 100,000 BMO Rewards points 
$670 First-year value The BMO® Ascend World Elite®* Business Mastercard®* is a good option for brick-and-mortar businesses who spend frequently on gas, office supplies, and phone and internet bills. Its welcome bonus is also fairly competitive, offering some unique benefits along with a first-year fee waiver.
Bonuses & Fees
With the current offer on the BMO® Ascend World Elite®* Business Mastercard®*, you can earn a up to 100,000 BMO Rewards points, broken down as follows:
- Earn 20,000 BMO Rewards points when you make your first purchase
- Earn 8,000 BMO Rewards points per month when you spend at least $3,000 per month within months 3–12 (total of up to 80,000 BMO Rewards points)
Based on our valuation of BMO Rewards points at 0.67 cents per point, the welcome offer alone is worth up to $670.
The card has an annual fee of $149, which is waived for the first year as part of the current offer.
The fee for adding authorized users is $50, and you can add up to 22 secondary cardholders on your account.
Earning Rewards
The BMO® Ascend World Elite®* Business Mastercard®* has a two-tier earning structure:
- Earn 4 BMO Rewards points per dollar spent on gas, office supplies, and recurring internet/phone payments
- Earn 1.5 BMO Rewards point per dollar spent on all other eligible purchases
These earning rates are equivalent to a 2.68% and 1.01% return, respectively, when you take into account our valuation of BMO Rewards points at 0.67 cents per point.
The return on non-categorized spending is arguably a bit weak compared to business credit cards from other issuers; however, earning 4x points on gas, office supplies, and telecommunications bills can certainly build up the points quickly.
Keep in mind that there’s an annual spending cap of $50,000 for the 4x category; once you’ve hit this threshold, your earning rate on gas, office supplies, and recurring internet/phone payments will revert to the card’s baseline earning rate of 1.5 BMO Rewards points per dollar spent.
Additionally, you’ll automatically be enrolled for offers on Mastercard® Easy Savings, which is good for 1–25% cash back rebates at select merchants, on top of your regular rewards.
Redeeming Rewards
BMO Rewards points are worth a maximum of 0.67 cents per point (cpp) when redeemed against the cost of travel booked with any travel vendor or for a deposit into your BMO investment account (at the rate of 15,000 points = $100).
Fortunately, you don’t have to book through the BMO Rewards travel portal to get the best-possible value. While that’s also an option, we recommend booking directly with travel vendors whenever possible.
You also have the option of redeeming points for gift cards, merchandise, or statement credits, albeit at a lower value. Generally speaking, if you’re thinking about pursuing one of these redemptions, it’d be a better idea to open a BMO investment account and redeem the points there instead for greater value.
Perks & Benefits
Cardholders will get five free virtual care visits per year with Maple, an online health platform. Maple’s Canadian-licensed doctors can diagnose and treat many conditions, including reproductive health, mental health, and other specialties. They can also write prescriptions and sick notes for you. You can connect on-demand 24/7 or with an appointment, via text, voice, or video.
You’ll also get a DragonPass membership, which comes with two free visits per year to a network of over 400 airport lounges. You can use visits for yourself or a guest. Additional visits will cost $32 (USD).
In addition, cardholders can get up to 7 cents off per litre on all Shell®± fuel*. Eligible cardholders will receive 2 cents off per litre on regular fuel, and 7 cents off per litre on premium fuel, up to 1,000 litres per month.
Insurance Coverage
The BMO Ascend World Elite®* Business Mastercard®* provides travel insurance to cardholders. There’s the usual coverage for out-of-province and out-of-country medical, trip cancellation, trip interruption, flight delay, lost or stolen baggage, and more.
As far as car rentals go, this card covers up to an MSRP of $65,000.
This card will also double the manufacturer’s warranty for purchases made with the card, up to one additional year.