BMO CashBack® World Elite®* Mastercard®*

BMO VIPorter Mastercard®∗

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BMO CashBack® World Elite®* Mastercard®* vs BMO VIPorter Mastercard®∗

Which one is better? Both cards worked out on the same spending: rewards, welcome bonus, fees and perks, line by line.

Finly rebate

$120

4.1

Apply now Get $120 Finly rebate

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Finly rebate

$100

3.8

Apply now Get $100 Finly rebate

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Welcome bonus

Each offer as the issuer words it. The numbers below show whether your spending reaches it.

The offer

Get up to $650 in value and the annual fees waived in the first year. Plus, get a 0% introductory interest rate on Balance transfers for 12 months with a 2% transfer fee.*

$650 in value is made up of:

Up to $480 Welcome Offer Cash Back: Receive $40 Bonus Cash Back when you spend a minimum of $2,000 on net card purchases per billing cycle in the first twelve (12) billing cycles after the account open date.*
$139: Annual Fee Waiver: The primary cardholder annual fee of $139 will be rebated in the first year and will appear as a fee and a credit on the primary cardholder’s first statement.*
$75 market value: Roadside Assistance: You will receive a complimentary membership in the Dominion Automobile Association (DAA) and the benefits of their BMO Roadside Assistance Program (Basic Coverage). Membership terms and plan features are described here: bmo.com/roadsideassistancebasic.*

10,000 bonus VIPorter points after spending $3,000 in eligible purchases within the first 110 days*
15,000 bonus VIPorter points + 35%-off flight discount voucher (valid for up to 3 companions) after spending $6,000 in eligible purchases within the first 180 days*
15,000 bonus VIPorter points after spending $10,000 in eligible purchases within the first 365 days*
Annual 35%-off flight booking discount when you spend $25,000 within 365 days of account opening*
Offer ends October 31, 2026*

What each card is worth

Rewards, the welcome bonus and any Finly rebate in, the annual fee and FX fees out, all on your spending.

Worked out on a typical $2,000 a month of spending. Enter yours to see your own numbers.

$1,125

First-year value

$942

$386

Every year after

$153

BMO CashBack World Elite is worth $183 more to you in year one.

It stays ahead after that, by $233 a year.

How the first year adds up

Annual rewards

$525.28

cash back a year

Welcome bonus

+ $480

first year only

Annual fee

$139− $0

$139 from year two

Finly rebate

+ $120

paid by FinlyWealth

First-year value

$1,125.28

Annual rewards

$241.83

16,122 points a year

Welcome bonus

+ $600

first year only

Annual fee

$89− $0

$89 from year two

Finly rebate

+ $100

paid by FinlyWealth

First-year value

$941.83

1.5¢ a pointVIPorter, redeemed for Porter airline and partner flights

Where each card earns

A year of your spending at each card's own reward rates, most first.

5%Groceries

$212.85

3%Gas

$64.8

2%Recurring Transactions

$48

4%Rental Car & Taxi, Public Transportation

$38.4

1%All other purchases

$142.23

1xFood and Groceries

4,995 pts

$74.93

1xTransportation and Gas

3,000 pts

$45

1xHotel

144 pts

$2.16

2xPorter

120 pts

$1.8

0.5xAll other purchases

7,863 pts

$117.95

Fees, rates and eligibility

What each card costs to hold and to use abroad, and who it's for.

$139

$0 the first year

Annual fee

$89

$0 the first year

$50

Additional cards

$35

Interest rates

Purchase:

21.99%

Cash Advance:

23.99%

Balance Transfer:

23.99%

Purchase:

21.99%

Cash Advance:

23.99%

Balance Transfer:

23.99%

Recommended credit score

300

Poor

560

Fair

660⁎

Good

725⁎

Very Good

760⁎

Excellent

⁎Estimates based on Equifax scoring

300

Poor

560

Fair

660⁎

Good

725⁎

Very Good

760⁎

Excellent

⁎Estimates based on Equifax scoring

Income required

Min Personal Income:

$80,000

Min Household Income:

$150,000

Min Personal Income:

N/A

Min Household Income:

N/A

How each card earns

The earn rates and caps, as each issuer sets them.

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*

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).

Points and how we value them

Points become dollars at each card's best redemption. Here's the value we used, and every other way to spend them.

Loyalty program

Cash back: every dollar it earns counts as a dollar, so there's nothing to convert.

VIPorter

We count each point at 1.5¢ a point, what it's worth redeemed for Porter airline and partner flights, its best value. Every dollar figure above uses that value.

Point redemption options

Nothing to redeem: it pays cash back.

Most Optimal

Porter airline and partner flights

1.5¢ / point

Insurance and perks

What both cards include comes first in each list.

Insurance

Lost or Stolen Baggage

$500/person, $1,000 maximum*

Baggage Delay

$500/person, $1,000 maximum After 6 hours*

Car Rental Damage & Theft

$65K MSRP up to 48 days*

Common Carrier Travel Accident Insurance

$500,000

Extended Warranty

1 year

Purchase Protection

90 days

Hotel Burglary Insurance

$1,000

Travel Medical Insurance (64 & under)

$5M up to 8 days per covered person*

Flight Delay

$500 After 4 hours delay*

Lost or Stolen Baggage

Up to $500 per insured person to a maximum of $1,000 per trip for all insured persons combined

Baggage Delay

Up to $500 per insured person to a maximum of $1,000 per trip for all insured persons combined

Car Rental Damage & Theft

Rental period up to 48 days, with a Manufacturer’s Suggested Retail Price (MSRP) of up to $65,000

Common Carrier Travel Accident Insurance

Up to $500,000 per insured person

Extended Warranty

1 year

Purchase Protection

90 days

Hotel Burglary Insurance

Up to $1,000 per occurrence for all insured persons combined

Travel Medical Insurance (64 & under)

Up to $5M per insured person, per trip, for 8 days per trip

Flight Delay

Up to a maximum of $500 per trip for all insured persons combined

Perks

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.*

Discount

Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*

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.*

Roadside Assistance

Complimentary Roadside Assistance Program*; Including battery boosts, flat-tire change, lockout service and towing – a $75/year value.*

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

Discount

Get 20% off admission to Cirque du Soleil shows touring Canada* and 15% off resident shows in Las Vegas

Discount

Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card.*

Hotel Booking Discount

Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada *

Priority Travel

Priority check-in, security, and early boarding for up to 8 companions travelling on the same booking

Our take

Why we like 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.

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

Impressive cashback rates
Rare roadside assistance
Comprehensive insurance and benefits
High first-year value

First-year fee rebate
Generous welcome bonus
High value Porter redemptions

Cons

Lacks restaurant optimization
Low monthly cashback caps

Low spending caps
Flight discount spending requirement
Limited redemption opportunities

More comparisons

Other cards we've put each of these up against.

Legal

*Terms and conditions apply

BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.

* †† Applications for the BMO VIPorter Mastercard or BMO VIPorter World Mastercard must be received between March 21, 2025 and October 31, 2026 (the "Offer Period") to be eligible for this offer. This offer is not available to current or former cardholders who reinstate a closed account or open a new account for the same card during the Offer Period. Existing BMO credit card cardholders who transfer into this product during the Offer Period are not eligible for this offer. If the Credit Card is cancelled within 365 days from the date it was opened, the welcome bonus earned within that period may be cancelled. This offer may be withdrawn or changed without notice.

*Terms and conditions apply

BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.