The Wealthsimple Visa Infinite* Card is Wealthsimple’s first foray into the bank card house, and like most issues Wealthsimple touches, it’s designed with simplicity in thoughts.
Whereas nonetheless no welcome bonus and solely out there through public waitlist, the cardboard nonetheless presents limitless 2% money again on all purchases, no overseas transaction charges, and a not too long ago added suite of journey insurance coverage advantages, making it a way more well-rounded product than it was at launch.
Wealthsimple has additionally elevated the month-to-month price to $20, except you qualify for a waiver by being a Premium or Technology consumer, or by organising $4,000/month in direct deposits as a Core consumer.
Even with these modifications, the cardboard nonetheless delivers one of the crucial compelling worth propositions in Canada: limitless 2% money again on all purchases, with no overseas transaction charges — a uncommon mixture that continues to be unmatched.
Let’s break down what this card truly presents, and whether or not it deserves a spot in your pockets.
Wealthsimple has additionally launched a Visa Infinite Privilege* model of the cardboard, focusing on higher-net-worth shoppers. I’ll be reviewing that card in a separate submit quickly.
What we love: Limitless 2% money again with no caps, no overseas transaction charges
What we’d change: No welcome bonus, restricted availability through waitlist, and funds restricted to Wealthsimple Chequing
No Welcome Bonus (For Now)
In contrast to most money again bank cards available on the market, the Wealthsimple Visa Infinite* Card at the moment doesn’t supply any welcome bonus, not even a brief enhance or assertion credit score.
In fact, it’s nonetheless in a restricted rollout and solely out there by way of a public waitlist for present Wealthsimple shoppers, so it’s doable a welcome supply could also be launched later when the cardboard is launched to the general public.
Nonetheless, it’s exhausting to disregard the missed alternative right here. Most competing money again playing cards sweeten the deal for brand new customers.
For instance:
These upfront rewards can simply quantity to $200–350 of worth in your first few months, and that’s earlier than factoring within the different advantages. By comparability, Wealthsimple costs you $20/month from day one (except you qualify for a price waiver), with out providing any fast return. It’s a notable downside in a aggressive market.
Whether or not this modifications sooner or later stays to be seen, however for now, this card doesn’t carry something additional to the desk for brand new candidates.
Limitless 2% Money Again on The whole lot, Wherever
The Wealthsimple Visa Infinite* Card retains issues refreshingly easy: you earn 2% money again on all purchases†, with none spending caps or classes to trace.
This “set-it-and-forget-it” mannequin is uncommon in Canada. Most money again bank cards supply elevated earn charges solely as much as a sure spending threshold, after which the earn price drops considerably.
To place issues in perspective:
- The TD Money Again Visa Infinite* Card earns 3% on groceries, fuel, and recurring payments, however solely on the primary $15,000 per class every year†. Past that, you’re all the way down to a flat 1%.
- The Scotia Momentum® Visa Infinite* Card earns 4% on groceries and recurring payments, and a couple of% on fuel and transit, however solely on the primary $25,000 in whole spend throughout these classes yearly†.
- The CIBC Dividend® Visa Infinite* Card has a mixed $20,000 cap throughout its 4% and a couple of% bonus classes, and a tough cap of $80,000 in whole annual card purchases†. When you cross that $80,000 threshold, you’ll be incomes the bottom price of 1% money again on all eligible purchases till the next calendar yr.
In contrast, Wealthsimple’s card has no cap. You’ll earn 2% again whether or not you spend $500 or $50,000 a yr. That’s an edge for anybody who commonly maxes out different playing cards or simply desires an easier answer with out micro-managing bonus classes.
Even higher, you possibly can redeem your money again immediately, as quickly because the transaction posts and the rewards are issued. No ready for month-to-month statements, minimal thresholds, or assertion credit to kick in. It’s simple and in your phrases.
No Overseas Transaction Charges
One other main win with the Wealthsimple Visa Infinite* Card is the no overseas transaction charges. Most Canadian bank cards tack on an additional 2.5% price whenever you spend in overseas foreign money — a quiet however expensive cost that eats into your rewards.
This makes Wealthsimple’s flat 2% earn price much more worthwhile when travelling or purchasing on-line internationally.
For instance, a typical money again card may earn 4% on groceries or eating, however when you issue within the 2.5% FX price, your internet reward drops to round 1.5%, and that’s assuming the acquisition even codes accurately as a bonus class.
Wealthsimple’s flat and fee-free 2% is a transparent winner right here.
Even playing cards that do waive the FX price, just like the Scotiabank Passport® Visa Infinite* Card, solely supply 2x Scene+ factors on groceries and eating†. That’s stable, however for all different classes, it drops to only 1x.
In contrast, Wealthsimple earns 2% money again throughout the board, whether or not you’re shopping for souvenirs, reserving excursions, or paying for entry to sights.
It’s a easy, dependable card to make use of on any journey, no want to recollect which card to drag out for which class.
Perks & Visa Infinite Advantages
The Wealthsimple Visa Infinite* Card doesn’t include any flashy perks of its personal. No complimentary lounge entry, no journey credit, no roadside help.
As an alternative, the cardboard depends solely on the usual Visa Infinite advantages, which embody:
- Visa Infinite Concierge
- Visa Infinite Eating and Wine Nation packages
- Entry to the Visa Infinite Luxurious Resort Assortment
These are nice-to-have, however they’re not distinctive to Wealthsimple and practically each Visa Infinite card in Canada presents the identical suite.
Wealthsimple itself does supply consumer tier advantages primarily based on the dimensions of your funding portfolio, however these aren’t tied to holding the bank card and don’t improve the cardboard expertise immediately.
Insurance coverage Protection
One of many largest latest enhancements to the Wealthsimple Visa Infinite* Card is the addition of a surprisingly sturdy insurance coverage package deal, lastly bringing it in keeping with what you’d count on from a premium bank card.
Right here’s what the up to date protection contains:
- Out-of-Province/Out-of-Nation Emergency Medical Insurance coverage
Covers eligible cardholders beneath age 65 for as much as $1 million in medical bills whereas travelling, for journeys as much as 15 consecutive days.
Consists of hospital and medical bills, emergency dental (as much as $2,000 for accidents), evacuation, return of stays, and as much as $1,500 in resort/meals if you happen to’re hospitalized. - Cellular Machine Insurance coverage: As much as $1,000 in case your telephone is misplaced, stolen, or unintentionally broken.
- Buy Safety: Covers new gadgets towards theft or injury for 90 days after buy.
- Prolonged Guarantee: Doubles the producer’s guarantee as much as one further yr.
- Automotive Rental Collision/Loss Harm Insurance coverage: Covers leases for as much as 48 days (MSRP restrict: $65,000).
- Delayed & Misplaced Baggage Insurance coverage: As much as $1,000 for delayed luggage and $1,000 for misplaced/broken ones, with a mixed cap of $1,250.
- Journey Cancellation & Interruption Insurance coverage: As much as $1,500 per eligible individual (most $5,000 per journey), in case your journey plans change resulting from a coated cause.
That’s a powerful lineup for a flat-rate money again card, and greater than sufficient to cowl the fundamentals for infrequent travellers.
Word: Protection is at the moment not out there to residents of Quebec. Full eligibility standards and exclusions apply.
Becoming a member of the Waitlist & Wealthsimple Necessities
As of December 2025, the Wealthsimple Visa Infinite* Card nonetheless stays in a restricted launch, and whereas there’s nonetheless no public software hyperlink, Canadians can be a part of the public waitlist immediately by way of the Wealthsimple app.
In case you haven’t registered for the waitlist but, right here’s easy methods to do it:
- Register to the Wealthsimple cell app
- Scroll and faucet Add an account
- Choose Open a brand new account
- Choose Credit score Card from the account choices
- Faucet Be part of the waitlist
- Verify the field and faucet Subsequent to comply with the gentle credit score test
- When you’re on the waitlist, Wealthsimple will ship a notification whenever you’re eligible to use
Word: In case you stay in Quebec, you’re nonetheless out of luck — the cardboard isn’t out there there but.
That exclusivity may add some attract, however it additionally means this card isn’t a viable choice for many Canadians, at the least not but.
Moreover, you possibly can solely pay your card stability utilizing a Wealthsimple Chequing account. Realistically, you possible received’t even obtain an invitation except you have already got one.
As soon as the product formally launches, it’s doable that funds from exterior banks could also be allowed. However for now, this seems like a wise technique to encourage prospects to carry extra of their money and property inside the Wealthsimple ecosystem.
The Wealthsimple Visa Infinite* Card comes with a $20 month-to-month price*, which might be waived if you happen to’re a Premium or Technology consumer. Core shoppers also can have the price waived by organising month-to-month direct deposits of at the least $4,000.
On the flip aspect, the Wealthsimple Money Mastercard, which is linked to the Wealthsimple Chequing account, is definitely a nice no-FX-fee pay as you go card for withdrawing overseas foreign money at ATMs overseas.
Wealthsimple not too long ago made it even higher by reimbursing ATM withdrawal charges globally — a perk hardly ever seen in Canada. This makes it a really perfect journey companion, particularly in international locations the place ATM charges might be steep, like Thailand, Indonesia, or Mexico.
In case you’re already utilizing it for journey or day-to-day purchases, being tied to the Chequing account received’t really feel like a barrier, in reality, it is perhaps a bonus.
Different Playing cards to Take into account
The Wealthsimple Visa Infinite* Card stands out for its limitless 2% money again and no overseas transaction charges, however it’s not the one choice on the market, particularly if you would like broader perks or higher journey protection.
Listed here are two sturdy options:
Scotiabank Passport™ Visa Infinite* Card
This card additionally has no FX charges, however comes with six free airport lounge visits per yr, full journey insurance coverage, and earns 2x Scene+ factors per greenback spent on groceries, eating, and leisure.
Nevertheless, it solely earns 1x on every part else, so chances are you’ll not earn as a lot total in case your spending is extra basic.
Scotiabank Passport® Visa Infinite* Card
- Earn 35,000 Scene+ factors upon spending $2,000 within the first three months
- Earn a further 10,000 Scene+ factors upon spending $40,000 yearly
- Earn 2x Scene+ factors on groceries, eating, leisure, and transit
- Plus, earn 3x Scene+ factors on grocery purchases at Sobeys, IGA, Safeway, and FreshCo
- Visa Airport Companion membership with six free lounge visits per yr
- Redeem factors for an announcement credit score towards any journey expense
- Minimal earnings: $60,000 private or $100,000 family
- Annual price: $150
Scotiabank® Gold American Specific® Card
One other no-FX-fee card, with as much as 6x Scene+ factors per greenback spent on groceries, eating places, and meals supply, plus stable journey insurance coverage.
Simply notice that Amex acceptance might be hit-or-miss overseas, and non-bonus classes solely earn 1x.
Scotiabank Gold American Specific® Card
- Earn 30,000 Scene+ factors upon spending $2,000 within the first three months
- Plus, earn an further 20,000 Scene+ factors upon spending $7,500 within the first yr
- Earn 6x Scene+ factors at Sobeys, IGA, Safeway, FreshCo, and extra
- Plus, earn 5x Scene+ factors on groceries, eating, and leisure
- Additionally, earn 3x Scene+ factors on fuel, transit, and choose streaming providers
- Redeem factors for an announcement credit score for any journey expense
- No overseas transaction charges
- Benefit from the unique advantages of being an American Specific cardholder
- Annual price: $120 (waived for the primary yr)
By comparability, the Wealthsimple Visa Infinite* Card earns a flat 2% all over the place.
Whether or not you’re reserving flights or shopping for bottled water in Europe, the simplicity and consistency might be exhausting to beat.
Conclusion
The Wealthsimple Visa Infinite* Card brings a refreshing simplicity to the Canadian bank card market, providing limitless 2% money again on all purchases and no overseas transaction charges, two options which can be hardly ever seen collectively.
It’s a powerful choice for prime spenders, frequent travellers, and anybody who desires to skip the psychological math of bonus classes, caps, or rotating promotions.
With the latest addition of complete insurance coverage protection — together with emergency medical, journey interruption, and rental automobile safety — the cardboard is beginning to really feel rather more like a well-rounded product, moderately than only a beta take a look at.
Nonetheless, the shortage of a welcome bonus and its restricted availability through waitlist imply it’s not but vital for everybody. And since it at the moment requires a Wealthsimple Chequing account for invoice funds, it might not match seamlessly into each pockets.
However for these already within the Wealthsimple ecosystem, or anybody who values predictability and premium simplicity, this card may very well be a game-changer — and it’ll be thrilling to see how the newly launched Wealthsimple Visa Infinite Privilege* Card stacks up subsequent.
† Phrases and situations apply. Please confer with Wealthsimple’s web site for probably the most up-to-date product info.
