BMO CashBack® World Elite® Mastercard® vs BMO VIPorter Mastercard®∗: Which one is better?
BMO CashBack® World Elite® Mastercard®
4
BMO VIPorter Mastercard®∗
4.1
Finly Rebate
Finly Rebate
Promotional rebate expires on May 31, 2025
Rewards Breakdown
Annual Rewards
$500.78
First Year Bonus Value
$184
Annual Fee
$120
$0
First Year Waived
First Year Value
$684.78
$380.78 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$242.03
VIPorter
First Year Bonus Value
$600
VIPorter
Annual Fee
$89
$0
First Year Waived
First Year Value
$842.03
$153.03 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
Lost or Stolen Baggage
$500/person, $1,000 maximum
Baggage Delay
$500/person, $1,000 maximum After 6 hours.svg)
Car Rental Damage & Theft
$65K up to 48 days
Travel Accident
$500,000
Extended Warranty
1 year
Purchase Protection
90 days
Hotel Burglary Insurance
$1,000
Emergency Out of province Medical
$5M up to 8 days per covered personFlight Delay
$500 After 4 hours delay
Insurance Included*
Lost or Stolen Baggage
Up to $500 per insured person to a maximum of $1,000 per trip for all insured persons combinedBaggage Delay
Up to $500 per insured person to a maximum of $1,000 per trip for all insured persons combinedCar Rental Damage & Theft
Rental period up to 48 days, with a Manufacturer’s Suggested Retail Price (MSRP) of up to $65,000Travel Accident
Up to $500,000 per insured personExtended Warranty
1 yearPurchase Protection
90 daysHotel Burglary Insurance
Up to $1,000 per occurrence for all insured persons combinedEmergency Out of province Medical
Up to $5M per insured person, per trip, for 8 days per tripFlight Delay
Up to a maximum of $500 per trip for all insured persons combined
Extra Benefits*
Car Rental Discount
Save up to 20% on National Car Rental® and Alamo Rent A Car® and up to 5% on Enterprise Rent-A-Car® at locations worldwide using the Car Rental Booking tool
Hotel Booking Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada.
Airport Lounge - Dragon Pass
Complimentary membership in Mastercard Travel Pass provided by DragonPass. As a member enjoy lounge access for a fee of just US$32 per person, per visit..svg)
Gas Discount
Get up to 7 cents off per litre on Shell® fuel, only for BMO cardholders.
Roadside Assistance
Including battery boosts, flat-tire change, lockout service and towing – a $69/year value.
Global Data Roaming plan
With FlexiRoam, stay connected around the world without a SIM card and get up to 15% off a Global Data Roaming plan plus up to 3GB of data, without any additional charges, if apply.
Extra Benefits*
Car Rental Discount
Save up to 20% on National Car Rental®†† and Alamo Rent A Car®†† and up to 5% on Enterprise Rent-A-Car®†† at locations worldwide using the Car Rental Booking toolHotel Booking Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada *Discount
Get 20% off admission to Cirque du Soleil shows touring Canada* and 15% off resident shows in Las Vegas
Priority Travel
Priority check-in, security, and early boarding for up to 8 companions travelling on the same booking
Interest Rates*
Purchase:
21.99%
Cash Advance:
23.99%
Balance Transfer:
23.99%
Interest Rates*
Purchase:
21.99%
Cash Advance:
23.99%
Balance Transfer:
23.99%
Annual Fee*
$120
$0
First Year Waived
Annual Fee*
$89
$0
First Year Waived
Income Required*
Min Personal Income:
$80,000
Min Household Income:
$150,000
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Welcome Bonus*
Get up to 10% cash back in your first 3 months with an incremental cashback value of $194
Welcome Bonus*
10,000 bonus VIPorter points after spending $3,000 in eligible purchases within the first 110 days, 15,000 bonus VIPorter points after spending $6,000 in eligible purchases within the first 180 days (plus a 35% flight discount voucher), and 15,000 bonus VIPorter points after spending $10,000 in eligible purchases within the first 365 days. Offer ends July 1, 2025*
Rewards Rate*
- 5% cash back on groceries (capped at $500 spending per statement, maximum of $25 in cashback per statement cycle)
- 4% cash back on daily transit (capped at $300 spending per statement, maximum of $12 in cashback per statement cycle)
- 3% cash back on gas (capped at $300 spending per statement, maximum of $9 in cashback per statement cycle)
- 2% cash back on recurring payments (capped at $500 spending per statement, maximum of $10 in cashback per statement cycle)
- 1% cash back on all other eligible purchases.
Rewards Rate*
- Earn 2 points for every $1 spent on eligible Porter purchases via flyporter.com (up to $10,000 in spending annually)
- Earn 1 point for every $1 spent on eligible gas and transportation purchases (up to $3,000 in spending annually combined)
- Earn 1 point for every $1 spent on eligible groceries and dining purchases (up to $5,000 in spending annually combined)
- Earn 1 point for every $1 spent on eligible hotel accommodation purchases (up to $3,000 in spending annually)
- Earn 0.5 points for every $1 spent everywhere else
- Primary cardholders will receive an annual discount of 35% on a Porter flight booking after spending a minimum of $25,000 in eligible purchases. On the anniversary date of your card, the calculation of the purchases will reset to zero and primary cardholders must qualify again for the new annual period (The flight voucher allows up to 3 companions to accompany the primary cardholder at a 35% discount on the flight booking’s base fare).
Loyalty Program*
N/A
Loyalty Program*
Point Redemption Options*
Not Applicable
Point Redemption Options*
Porter airline and partner flights
1.5¢ / point
Is this card worth it?
If you're seeking a cashback credit card, the BMO CashBack® World Elite® Mastercard® stands out for its excellent balance between rewards and benefits. It offers a robust rewards program and a comprehensive benefits list, making it a solid choice. The high first-year value is enhanced by the annual fee waiver, and those with a BMO Premium Chequing Account can enjoy continued fee waivers. While it's highly ranked for rewards alone, it may not be the absolute top choice if benefits are less important to you.
Is this card worth it?
This is one of the only credit cards in Canada that directly earns you VIPorter points and gives you premium travel benefits like priority security screening, early boarding and priority re-accommodation for flight delays on Porter (and its partners) flights. For frequent Porter travelers, this is a great low-fee card that can fast track your VIPorter status and earn even more travel benefits, although the rewards may be a bit lackluster.
Pros
- Offers one of the highest cashbacks on groceries and gas, two of the most frequently spent categories, compared to other credit cards in Canada.
- Includes roadside assistance, a rare but valuable benefit for people on the road.
- Provides a comprehensive list of insurance coverage and benefits.
- High first-year value.
Pros
- No annual fee in the first year!
- A massive welcome bonus valued at $600+ that also grants you a 35%-off flight discount voucher (valid for up to 3 companions) after meeting the minimum spend requirement
- Points can be redeemed across Porter's expanding North American network, as well as Porter's growing list of global airline partners, currently featuring flights operated by Air Transat and Alaska Airlines sold on flyporter.com.
Cons
- Does not include restaurant purchases as a reward category, which is one of the most important spending categories.
- Monthly limits on cash back could be higher
Cons
- Low spending caps on common categories like groceries and dining
- Having to spend $25,000 per year just to qualify for 35%-off flight booking discount
- Points can only be redeemed towards flights currently
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