The Wealthsimple Visa Infinite* Card is Wealthsimple’s first foray into the bank card area, and like most issues Wealthsimple touches, it’s designed with simplicity in thoughts.
Whereas nonetheless no welcome bonus and solely accessible by way of public waitlist, the cardboard nonetheless provides limitless 2% money again on all purchases, no overseas transaction charges, and a just lately 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 charge to $20, until you qualify for a waiver by being a Premium or Era shopper, or by establishing $4,000/month in direct deposits as a Core shopper.
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 is still unmatched.
Let’s break down what this card truly provides, and whether or not it deserves a spot in your pockets.
Wealthsimple has additionally launched a Visa Infinite Privilege* model of the cardboard, concentrating on higher-net-worth shoppers. I’ll be reviewing that card in a separate put up quickly.
What we love: Limitless 2% money again with no caps, no overseas transaction charges
What we’d change: No welcome bonus, restricted availability by way of waitlist, and funds restricted to Wealthsimple Chequing
No Welcome Bonus (For Now)
In contrast to most money again bank cards in the marketplace, the Wealthsimple Visa Infinite* Card presently doesn’t provide any welcome bonus, not even a short lived enhance or assertion credit score.
After all, it’s nonetheless in a restricted rollout and solely accessible by means of a public waitlist for present Wealthsimple shoppers, so it’s doable a welcome provide could also be launched later when the cardboard is launched to the general public.
Nonetheless, it’s arduous 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 fees you $20/month from day one (until you qualify for a charge waiver), with out providing any instant 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 further to the desk for brand new candidates.
Limitless 2% Money Again on The whole lot, Anyplace
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 provide elevated earn charges solely as much as a sure spending threshold, after which the earn fee drops considerably.
To place issues in perspective:
- The TD Money Again Visa Infinite* Card earns 3% on groceries, gasoline, and recurring payments, however solely on the primary $15,000 per class every year†. Past that, you’re right down to a flat 1%.
- The Scotia Momentum® Visa Infinite* Card earns 4% on groceries and recurring payments, and a pair of% on gasoline 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 pair 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 fee of 1% money again on all eligible purchases till the next calendar 12 months.
In contrast, Wealthsimple’s card has no cap. You’ll earn 2% again whether or not you spend $500 or $50,000 a 12 months. That’s an edge for anybody who frequently maxes out different playing cards or simply needs a less complicated resolution 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 further 2.5% charge while you spend in overseas foreign money — a quiet however pricey cost that eats into your rewards.
This makes Wealthsimple’s flat 2% earn fee much more helpful when travelling or buying 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 charge, your web reward drops to round 1.5%, and that’s assuming the acquisition even codes appropriately 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 charge, just like the Scotiabank Passport® Visa Infinite* Card, solely provide 2x Scene+ factors on groceries and eating†. That’s strong, however for all different classes, it drops to simply 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 embrace:
- Visa Infinite Concierge
- Visa Infinite Eating and Wine Nation applications
- Entry to the Visa Infinite Luxurious Lodge Assortment
These are nice-to-have, however they’re not distinctive to Wealthsimple and practically each Visa Infinite card in Canada provides the identical suite.
Wealthsimple itself does provide shopper tier advantages based mostly 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 greatest latest enhancements to the Wealthsimple Visa Infinite* Card is the addition of a surprisingly strong insurance coverage package deal, lastly bringing it in step with what you’d anticipate 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 underneath age 65 for as much as $1 million in medical bills whereas travelling, for journeys as much as 15 consecutive days.
Contains hospital and medical bills, emergency dental (as much as $2,000 for accidents), evacuation, return of stays, and as much as $1,500 in lodge/meals should you’re hospitalized. - Cellular System Insurance coverage: As much as $1,000 in case your telephone is misplaced, stolen, or unintentionally broken.
- Buy Safety: Covers new gadgets in opposition to theft or harm for 90 days after buy.
- Prolonged Guarantee: Doubles the producer’s guarantee as much as one extra 12 months.
- Automobile 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 baggage 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 on account of a coated purpose.
That’s a powerful lineup for a flat-rate money again card, and greater than sufficient to cowl the fundamentals for infrequent travellers.
Notice: Protection is presently not accessible 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 utility hyperlink, Canadians can be part of the public waitlist immediately by means of the Wealthsimple app.
Should you haven’t registered for the waitlist but, right here’s learn how to do it:
- Register to the Wealthsimple cellular app
- Scroll and faucet Add an account
- Choose Open a brand new account
- Choose Credit score Card from the account choices
- Faucet Be a part of the waitlist
- Verify the field and faucet Subsequent to comply with the gentle credit score verify
- When you’re on the waitlist, Wealthsimple will ship a notification while you’re eligible to use
Notice: Should you stay in Quebec, you’re nonetheless out of luck — the cardboard isn’t accessible there but.
That exclusivity may add some attract, nevertheless it additionally means this card isn’t a viable choice for many Canadians, not less than not but.
Moreover, you possibly can solely pay your card steadiness utilizing a Wealthsimple Chequing account. Realistically, you seemingly received’t even obtain an invitation until 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 appears like a sensible technique to encourage prospects to carry extra of their money and belongings inside the Wealthsimple ecosystem.
The Wealthsimple Visa Infinite* Card comes with a $20 month-to-month charge*, which may be waived should you’re a Premium or Era shopper. Core shoppers may have the charge waived by establishing month-to-month direct deposits of not less than $4,000.
On the flip facet, 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 just lately made it even higher by reimbursing ATM withdrawal charges globally — a perk not often seen in Canada. This makes it a really perfect journey companion, particularly in international locations the place ATM charges may be steep, like Thailand, Indonesia, or Mexico.
Should 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, actually, it is likely to be 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, nevertheless it’s not the one choice on the market, particularly if you’d like broader perks or higher journey protection.
Listed here are two robust options:
Scotiabank Passport™ Visa Infinite* Card
This card additionally has no FX charges, however comes with six free airport lounge visits per 12 months, full journey insurance coverage, and earns 2x Scene+ factors per greenback spent on groceries, eating, and leisure.
Nevertheless, it solely earns 1x on the whole lot else, so it’s possible you’ll not earn as a lot general 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 an extra 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 12 months
- Redeem factors for a press release credit score in opposition to any journey expense
- Minimal earnings: $60,000 private or $100,000 family
- Annual charge: $150
Scotiabank® Gold American Categorical® 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 strong journey insurance coverage.
Simply be aware that Amex acceptance may be hit-or-miss overseas, and non-bonus classes solely earn 1x.
Scotiabank Gold American Categorical® Card
- Earn 30,000 Scene+ factors upon spending $2,000 within the first three months
- Plus, earn an extra 20,000 Scene+ factors upon spending $7,500 within the first 12 months
- 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 gasoline, transit, and choose streaming companies
- Redeem factors for a press release credit score for any journey expense
- No overseas transaction charges
- Benefit from the unique advantages of being an American Categorical cardholder
- Annual charge: $120 (waived for the primary 12 months)
By comparability, the Wealthsimple Visa Infinite* Card earns a flat 2% in all places.
Whether or not you’re reserving flights or shopping for bottled water in Europe, the simplicity and consistency may be arduous 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 are not often seen collectively.
It’s a powerful choice for prime spenders, frequent travellers, and anybody who needs 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 far more like a well-rounded product, somewhat than only a beta take a look at.
Nonetheless, the dearth of a welcome bonus and its restricted availability by way of waitlist imply it’s not but vital for everybody. And since it presently requires a Wealthsimple Chequing account for invoice funds, it could not match seamlessly into each pockets.
However for these already within the Wealthsimple ecosystem, or anybody who values predictability and premium simplicity, this card might 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 consult with Wealthsimple’s web site for probably the most up-to-date product data.
