Which card is better for groceries, BMO CashBack Mastercard for Business or EQ Bank Card?

The BMO CashBack Mastercard for Business earns 0.8% on groceries, while the EQ Bank Card earns 0.5%. The better choice depends on your grocery spending and the specific merchants you shop at.

Which card is better for international purchases?

The BMO CashBack Mastercard for Business has a 2.5% foreign transaction fee, while the EQ Bank Card has no foreign transaction fee. The card with no FX fee is better for international purchases.

BMO CashBack Mastercard for Business vs EQ Bank Card — Which Is Better? | Churnr

Header Quick Take Value Earn Rates Merchants Wallet Bonus FX Benefits Eligibility Perks Downgrade Verdict

BMO CashBack Mastercard for Business wins by $205/yr — strongest in bills & utilities

BMO CashBack Mastercard for Business earns $48 more on bills & utilities
BMO CashBack Mastercard for Business earns $45 more on everything else
Saves $30/yr in foreign transaction fees

Bills & Utilities: +$48Everything Else: +$45Shopping: +$42

BMO CashBack Mastercard for Business: $30/yr in foreign transaction fees

Showing Year 1 analysis

Dollar Value

Winner

$379

/first year

0.9% effective$32/mo

vs 1% no-fee card: −$40

Annual rewards earned+$409

FX costs−$30

Annual fee−$0

$173

/first year

0.4% effective$14/mo

vs 1% no-fee card: −$245

Annual rewards earned+$173

FX costsNo FX fee

Annual fee−$0

Best for your spendingBMO CashBack Mastercard for Business—$379Year 1 value

+$205 more than EQ Bank Card

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Earn Rates by Category

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The Bottom Line

BMO CashBack Mastercard for Business wins by $205/yr — strongest in bills & utilities

BMO CashBack Mastercard for Business earns $48 more on bills & utilities
BMO CashBack Mastercard for Business earns $45 more on everything else
Saves $30/yr in foreign transaction fees

Bills & Utilities: +$48Everything Else: +$45Shopping: +$42

Showing Year 1 analysis

BMO CashBack Mastercard for Business wins in both Year 1 and Year 2+ — consistent long-term value.

Data Sources

Issuer terms & conditions (verified Mar 2026)

Merchant MCC verification (239 merchants)

Insurance certificates (PDF review)

Reward program documentation

User-reported acceptance data

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