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How the Strait of Hormuz Crisis Is Hitting Your Wallet Right Now

Published May 17, 2026  |  Category: Oil Prices & Energy  |  By MoneySavings.ca If you've winced lately at the gas pump or noticed your grocery bill creeping up, you're not imagining it. A geopolitical crisis unfolding halfway around the world — at a narrow strip of water between Iran and Oman — is directly squeezing Canadian budgets. Here's everything you need to know, and what you can do about it. What Is the Strait of Hormuz? The Strait of Hormuz is a narrow waterway just 33 kilometres wide at its tightest point, connecting the Persian Gulf to the open ocean. Despite its modest size, it is the world's single most critical energy chokepoint. Before this crisis, roughly 20 million barrels of oil moved through it every single day — about 20% of all the world's seaborne oil supply, plus significant volumes of liquefied natural gas (LNG). Think of it as the world's energy jugular vein. When it gets blocked, the entire planet feels it. What Happened? On Februa...
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Canada’s Top No-Fee Cash-Back Credit Cards for 2025

 

Looking to earn rewards without paying an annual fee? Canadians have access to a variety of cash-back credit cards that offer impressive perks with zero yearly cost. Whether you're fueling up, grocery shopping, or just handling everyday expenses, these cards help you stretch your dollars further.

Here’s a roundup of the top 10 no-annual-fee cash-back credit cards in Canada for 2025:

Top Picks

  1. SimplyCash® Card from American Express

    • 1.25% cash back on all purchases
    • Welcome bonus: Up to $100 cash back
    •  Annual fee: $0

  2. Rogers Red World Elite® Mastercard®

    • 1.5% average cash back
    • Great for U.S. dollar purchases
    •  Annual fee: $0

  3. Tangerine Money-Back Credit Card

    • 2% cash back in up to 3 categories of your choice
    • Welcome bonus: $60 + 10% extra cash back for 2 months
    • Annual fee: $0

  4. Neo World Mastercard®

    • Up to 15% cash back on first-time purchases
    • Best for retail shopping
    • Annual fee: $0

  5. CIBC Costco Mastercard®

    • Best for restaurants and Costco purchases
    • Annual fee: $0 (requires Costco membership)

  6. Home Trust Preferred Visa

    • 1% cash back in Canada + no foreign transaction fees
    • Annual fee: $0

  7. BMO CashBack Business Mastercard

    • Ideal for small business expenses
    • Welcome bonus: $100 + 10% cash back on select categories
    • Annual fee: $0

  8. Triangle World Elite Mastercard

    • Best for roadside assistance and Canadian Tire purchases
    • Annual fee: $0

  9. Scotiabank Momentum No-Fee Visa

    • 1% cash back on eligible purchases
    • Annual fee: $0

  10. MBNA Smart Cash Platinum Plus Mastercard

    • 2% cash back on gas and groceries
    • Annual fee: $0

These cards are perfect for budget-conscious Canadians who want to earn rewards without the burden of annual fees. Whether you're a newcomer, a frequent shopper, or a small business owner, there’s a card tailored to your lifestyle.


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