Which card is better for groceries, BMO CashBack Mastercard for Business or Neo Mastercard?

The BMO CashBack Mastercard for Business earns 0.8% on groceries, while the Neo Mastercard earns 4%. The better choice depends on your grocery spending and the specific merchants you shop at.

BMO CashBack Mastercard for Business vs Neo Mastercard — Which Is Better? | Churnr

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

Neo Mastercard wins by $743/yr — strongest in groceries

Neo Mastercard earns $415 more on groceries
Neo Mastercard earns $120 more on bills & utilities

Groceries: +$415Bills & Utilities: +$120Dining & Restaurants: +$107

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

Neo Mastercard: $30/yr in foreign transaction fees

Showing Year 1 analysis

Dollar Value

$379

/first year

0.9% effective$32/mo

vs 1% no-fee card: −$40

Annual rewards earned+$409

FX costs−$30

Annual fee−$0

Winner

$1,121

/first year

2.7% effective$93/mo

vs 1% no-fee card: +$702

Annual rewards earned+$1,126

Welcome bonus+$25

FX costs−$30

Annual fee−$0

Best for your spendingNeo Mastercard—$1,121Year 1 value

+$743 more than BMO CashBack Mastercard for Business

Scroll down for the full breakdown

Earn Rates by Category

Wallet Optimizer

Downgrade

Coming soon

The Bottom Line

Neo Mastercard wins by $743/yr — strongest in groceries

Neo Mastercard earns $415 more on groceries
Neo Mastercard earns $120 more on bills & utilities

Groceries: +$415Bills & Utilities: +$120Dining & Restaurants: +$107

Showing Year 1 analysis

Neo Mastercard wins in both Year 1 and Year 2+ — consistent long-term value.

Data Sources

Issuer terms & conditions (verified Feb 2026)

Merchant MCC verification (239 merchants)

Insurance certificates (PDF review)

Reward program documentation

User-reported acceptance data

Found an error? Report incorrect data