BMO VIPorter World Elite Mastercard review

How the VIPorter World Elite earns points

The BMO VIPorter World Elite Mastercard has three earn tiers. Porter purchases earn 3 points per dollar, travel, groceries and dining earn 2 points, and everything else earns 1 point. The 2x tier matters as much as the 3x one, because groceries and dining are where most people spend every week.

Take a household that spends $600 a month on groceries, $300 on dining and $1,000 on everything else, and books $1,200 of Porter flights a year. The monthly spending earns 2,800 points, or 33,600 a year, and the flights add 3,600 points, for 37,200 points in total.

Porter purchases earn the most per dollar, but for most households they’re a small share of the year’s spending. In the example above, flights produce under a tenth of the points, while groceries and dining at 2x produce more than half.

The checked bag and companion pass

The card includes a free checked bag and a companion pass. These are the perks that justify a $199 card, so think about how often you’ll actually use them. A companion pass is most useful if you regularly travel with a partner, friend or colleague.

The exact rules, including which fares qualify and how often each benefit can be used, are set out in BMO’s terms. Read them before you count on a perk when you book a trip.

If you fly Porter only once or twice a year, add up what the bag and companion pass would actually save on your usual trips before deciding to keep the card past the first year.

Fees, interest and the fine print

The $199 annual fee is waived for the first year. From the second year, it works out to about $16.58 a month, so the card needs to earn its place through regular Porter travel and everyday spending.

Foreign currency purchases carry a 2.5% fee, so $1,000 spent abroad costs about $25 extra, including travel purchases that earn 2x. Purchases are charged 20.99% interest and cash advances 22.99%. Paying the full balance by the due date avoids purchase interest, which would quickly cancel out the points you earn.

Who it suits, and who should look elsewhere

This card suits people who fly Porter several times a year, often travel with a companion, and spend steadily on groceries and dining. The first-year fee waiver gives you twelve months to see whether you’ll use the perks before paying the fee.

If you rarely fly Porter, the 3x rate and travel benefits won’t make up for $199 a year, and a card with a lower fee or a different airline focus may serve you better. Frequent spenders in foreign currencies should also factor in the 2.5% fee.

How it compares

The BMO VIPorter Mastercard is the lower-cost version, at $89 a year. It earns 2 points per dollar on Porter Airlines purchases and offers a welcome bonus of up to 40,000 VIPorter points. It’s the better pick if you want to collect VIPorter points with a smaller fee and can accept a lower top rate on Porter.

The WestJet RBC World Elite Mastercard is an alternative tied to a different airline. It costs $139 a year and earns 2 points per dollar on travel, gas, groceries and transit. If you fly WestJet more often than Porter, it’s likely the more useful card.

Before you apply

The recommended credit score is 720 or higher, and the card’s listing notes a personal income requirement of $80,000. BMO makes the final decision based on your full credit profile.

A welcome offer may be available, but its size and spending requirement aren’t confirmed here. Check the BMO website for current terms and fees before you apply.