BMO CashBack Mastercard vs RBC ION+ Visa
The short answer: for most people the BMO CashBack Mastercard is the better overall card — we rate it 4.3/5 and it shines if you want no-fee grocery cash back — a great first or student card. Choose the RBC ION+ Visa instead if your priority is everyday spenders and students who want high multipliers on groceries, gas, dining and streaming at a minimal fee..
Advertiser disclosure: we may be compensated for links on this page. Our ratings stay independent. Learn more.
| Our rating | 4.3 | 4.0 |
|---|---|---|
| Annual fee | No annual fee | $48/yr |
| Welcome bonus | ~$125 | ~$100 |
| Foreign transaction fee | 2.5% | 2.5% |
| Rewards type | cash back | points |
| Top earn rates |
|
|
| Purchase interest | 20.99% | 20.99% |
| Income required | None stated | None stated |
| Best for | No-fee grocery cash back — a great first or student card | Everyday spenders and students who want high multipliers on groceries, gas, dining and streaming at a minimal fee. |
| Apply now | Apply now |
BMO CashBack Mastercard
Our winnerOne of the best no-fee cash-back cards for groceries, and an easy approval that makes a strong first or student card. Mind the $500/month cap on the 3% rate.
RBC ION+ Visa
Outstanding earn rates for a $48/year card, and a great category-earner companion to a premium Avion card. Point value is modest unless paired with a full Avion card for pooling.
Frequently asked questions
Is the BMO CashBack Mastercard or the RBC ION+ Visa better?
For most Canadians, the BMO CashBack Mastercard is the better overall pick (we rate it 4.3/5 vs 4/5). It's especially strong if you want no-fee grocery cash back — a great first or student card. The RBC ION+ Visa can still win if you specifically want everyday spenders and students who want high multipliers on groceries, gas, dining and streaming at a minimal fee..
Which card has the lower annual fee?
The BMO CashBack Mastercard has the lower annual fee (no annual fee vs a $48 annual fee).
Do either of these cards charge foreign transaction fees?
BMO CashBack Mastercard: 2.5% foreign transaction fee. RBC ION+ Visa: 2.5% foreign transaction fee.