BMO Ascend World Elite or National Bank World Elite Mastercard — which has the better welcome bonus?

The BMO Ascend World Elite Mastercard currently leads with up to 100,000 BMO Rewards points (worth approximately $700 in travel) plus the first-year $150 annual fee waived. The National Bank World Elite Mastercard typically offers up to 50,000 À la carte Rewards points (around $500 value) and may waive the $150 fee in year one for clients with eligible chequing accounts. On pure first-year value, the BMO Ascend wins on points volume, but the National Bank card claws back ground through its $150 annual travel credit and unlimited Montreal-Trudeau lounge access. Both cards essentially wash to zero in year one for the right user profile.

Which card earns more on travel and dining?

The BMO Ascend World Elite Mastercard earns 5x BMO Rewards on all travel purchases (flights, hotels, car rentals, cruises) and 3x on dining, entertainment and recurring bills. The National Bank World Elite Mastercard earns 5x À la carte points on groceries and dining (capped at $2,500 per month) but only 2x on travel. For frequent travellers, the BMO Ascend's 5x on travel is unmatched — book a $3,000 trip and earn 15,000 points worth $105 in travel value. For high grocery and restaurant spenders who travel less, the National Bank card pulls ahead at 5x on the categories that matter most.

What lounge access is included with each card?

The BMO Ascend World Elite Mastercard includes 4 free annual lounge visits via Mastercard Travel Pass (DragonPass network, 1,300+ lounges), with additional visits at $32 USD each. The National Bank World Elite Mastercard grants unlimited free access to the National Bank Lounge in Terminal A at Montreal-Trudeau (YUL) — the only major Canadian credit card with truly unlimited domestic lounge access at a hub airport — plus additional DragonPass visits for international airports. For Montreal-based travellers, the National Bank lounge benefit alone can be worth $400+ per year. For nationwide travellers, the BMO Ascend's broader Mastercard Travel Pass network may be more practical.

Are foreign currency fees waived on either card?

Neither card waives the standard 2.5% foreign currency conversion fee out of the box, which is a meaningful gap compared to fee-free cards like the Scotiabank Passport Visa Infinite+. Both the BMO Ascend World Elite Mastercard and National Bank World Elite Mastercard apply the 2.5% surcharge on every USD or international purchase. Frequent international travellers should pair either card with a no-FX option for overseas spending and use the World Elite cards for Canadian purchases where the bonus categories shine. The BMO Ascend partially offsets this through 5x on travel bookings, which usually clear in CAD.