What you earn
- 2%cash back Everything else
Wealthsimple states no cap on these earn rates.
What this card gives back for your spending
For a typical household's card spending ($3,245 a month), this card gives about $539 a year back after fees: $779 cash back, less $240 in fees.
Rewards at this card's earn rates for that spending, minus the annual fee. Insurance, lounge access and welcome offers are not counted in dollars. Spending is Statistics Canada's average household (Survey of Household Spending, 2023), split into card categories by CardNorth.
Compare it with all 162 cards we've checked, from 24 banks, in the card finder
Fees and interest
| Annual fee | $20 a month ($240 a year), waived with $100,000 at Wealthsimple or $4,000 a month in direct deposits |
|---|---|
| Additional card | Not offered |
| Purchases | 20.99% |
| Cash advances | 22.99% |
| Balance transfers | Not offered |
| Foreign transactions | 0% |
| Penalty rates | 25.99% purchases, 27.99% cash advances |
Penalty rates apply after this: minimum payment not received by the due date for 2 consecutive months; the higher rates apply from the third statement period after the second missed payment until minimum payments are again received on time.
In Quebec: annual fee $240 a year.
Who can apply
| Income | $80,000 personal or $150,000 household (or $300,000 in savings and investments, or $25,000 a year in card spending) |
|---|---|
| Or | $300,000 in savings and investments, or $25,000 in annual credit card spending |
| Quebec | Offered |
| Card type | Personal, Visa Infinite |
Perks and coverage
- Travel medical insurance21 days a trip, to age 64, up to $1,000,000
- Trip cancellation insurance
- Trip interruption insurance
- Flight delay insuranceup to $1,000 a person
- Baggage insurancedelayed baggage, up to $500
- Baggage insurancelost or stolen baggage, up to $750
- Mobile device insuranceup to $1,000
- Purchase protection90 days from purchase
- Extended warrantyadds 1 year to the warranty
Coverage has conditions and limits. Read Wealthsimple's certificate of insurance or benefit terms before relying on it.
Good to know
How cash back is redeemed
You redeem cash back in the Wealthsimple app, as soon as the purchase settles or up to 10 years later. It goes only into your own Wealthsimple chequing, TFSA, RRSP or non-registered account, and there is no minimum. Unredeemed cash back is lost when the card is closed. Cash-like transactions, refunds, fees and adjustments don’t earn, and a refund after you redeem is deducted from your rewards balance. Wealthsimple calls the cash back a promotional offer whose rate may change.
Getting the fee waived
The first month’s fee is waived for all clients. After that, the fee is waived automatically while you hold at least $100,000 in individual net deposits or assets with Wealthsimple, joint accounts included. Otherwise, it’s waived when at least $4,000 in direct deposits reach the chequing account linked to the card in the previous or current calendar month. Business and corporate accounts don’t count, and one joint holder’s deposits don’t count toward another’s $4,000. Being in a Premium or Generation household doesn’t waive the fee by itself. Wealthsimple calls the waiver a promotional offer it can amend or withdraw at any time without notice.
Applying
Existing clients may need to join a waitlist, and the card is available in limited quantities, so you might not get one even if you meet the requirements. The earlier Wealthsimple Visa Infinite went to clients approved before April 28, 2026; applicants are now offered the Visa Infinite + or the Visa Infinite Privilege, depending on eligibility. Visa Infinite + holders can upgrade to the Visa Infinite Privilege in the app once 90 days have passed since they applied.
Questions
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Sources
The figures and rules on this page come from these sources, last checked against them on November 12, 2026. About CardNorth.
- wealthsimple.com: Wealthsimple visa infinite card