Visa Infinite +
2%cash back on everything
- $240/yr ($20/mo), waived two ways
- 0% foreign exchange fee
- Income $80,000, or household $150,000
- Travel medical to $1,000,000
Card review · Verified 23 September 2026
Wealthsimple credit card review
Unlimited 2% cash back on everything, no foreign exchange fee, and a $240 annual fee that a lot of people never pay. Here is the number that decides it for you.
The short answer
If Wealthsimple waives the fee for you, this is the strongest flat-rate cash back card in Canada and you should take it. If you pay the full $240, you need to put $24,000 a year on the card, about $2,000 a month, before the 2% beats a free 1% card.
Fee waived
Take it
2% on everything, 0% FX, nothing to track
Paying $240, spending under $2,000/mo
Skip it
A free 1% card nets you more
Paying $240, spending over $2,000/mo
Worth it
Every dollar above break-even is 1% clear
Disclosure: the links to Wealthsimple on this page are affiliate links, and JustBuyXEQT.ca may earn a commission if you open an account through them. It costs you nothing and it does not change what is written here. The fees, rates and coverage limits below are quoted from Wealthsimple's own card pages, read on 23 September 2026.
The two cards you can actually get
Wealthsimple has three Visa Infinite cards. Two are generally available and differ only in travel perks and who qualifies. The third is a no-fee 1% version that has been in limited beta since mid-2026.
Visa Infinite Privilege
2%plus lounge access
- $240/yr ($20/mo), same waivers
- 1,200+ airport lounges
- Income $150,000, or $400,000 in assets
- Travel medical to $2,000,000
The cash back rate is identical. You are not choosing between 2% and something better; you are choosing between two ways of getting the same 2%, and the Privilege card simply adds travel cover and lounges for people who already clear a higher income or asset bar. If you do not fly much, the extra tier is worth nothing to you.
Is the fee worth it for you
The 2% card only wins once the extra one percent clears the fee. Move your real monthly card spend and read the two numbers.
Your card spend
Break-even at $2,000/mo
$2,000 per month
$250$4,000$8,000
Wealthsimple 2%, after the $240 fee
$240
$480 earned, less $240
A free 1% card, no fee
$240
Nothing to waive, nothing to track
At this spend the two are identical. Above it, Wealthsimple pulls ahead by 1% of every extra dollar.
Assumes you pay the fee in full and clear the balance every month. If Wealthsimple waives your fee, the 2% card wins at every level of spend, which is why the waiver is the thing to check first. Carrying a balance at 20.99% wipes out any cash back on this or any other card.
The fee is waived two ways
This is the part most reviews bury, and it is the part that decides the card for most people. Either condition on its own is enough.
1
$100,000 or more in individual assets with Wealthsimple
Held across your Wealthsimple accounts. At that level the card also arrives in metal rather than plastic. If you already hold XEQT at Wealthsimple and you are anywhere near six figures, check this before you rule the card out on price.
2
$4,000 a month in direct deposits to Wealthsimple chequing
Your pay, landing in a Wealthsimple chequing account. $4,000 a month is roughly a $48,000 salary after deductions, so this is the route that opens the card up to people who are nowhere near $100,000 invested.
A Wealthsimple chequing account is not optional either way: an active one is a condition of holding the card at all, on both tiers. If you are not willing to move at least some banking across, this card is not for you regardless of the maths above.
All three cards, side by side
| Visa Infinite (1%) | Visa Infinite + | Visa Infinite Privilege | |
|---|---|---|---|
| Cash back | 1% unlimited | 2% unlimited | 2% unlimited |
| Annual fee | None | $240 ($20/mo) | $240 ($20/mo) |
| Fee waived if | Not applicable | $100k assets or $4k/mo deposits | $100k assets or $4k/mo deposits |
| Foreign exchange fee | 0% | 0% | 0% |
| Income to qualify | $60k, or $100k household | $80k, or $150k household | $150k, or $200k household |
| Other routes in | $250k savings, or $15k/yr spend | — | $50k/yr spend, or $400k assets |
| Travel medical | Not published | $1,000,000 | $2,000,000 |
| Trip cancellation | Not published | $3,000 per trip | $5,000 per trip |
| Lost baggage | Not published | $1,000 per trip | $1,250 per trip |
| Rental car collision | Not published | Not published | 31 days, to $65,000 MSRP |
| Airport lounges | No | No | 1,200+ worldwide |
| Purchase interest | 20.99% | 20.99% | 20.99% |
| Availability | Limited beta | General, limited quantities | General, limited quantities |
The 1% card has been in beta since June 2026 and Wealthsimple does not publish a full benefits page for it, which is why several rows read "not published" rather than guessing. Treat its insurance as unknown until they say otherwise.
The 0% foreign exchange fee is the quiet win
Most Canadian credit cards add 2.5% on every foreign-currency purchase. On this card Wealthsimple adds nothing, so you pay the network's conversion rate and that is it. On a $4,000 trip that is $100 you simply do not spend, and it stacks on top of the 2% back.
2.5%Typical Canadian card FX fee
0%What Wealthsimple adds
4.5%Effective swing abroad, with the 2% back
Read the last figure carefully: it is the gap between this card and a typical 2.5% FX card that pays nothing back, not a rate you earn. It is the reason the card is worth holding purely as a travel card even if you spend little on it at home.
Who should not take this card
Anyone who carries a balance. At 20.99% on purchases, one month of interest on a $2,000 balance costs about $35, which is more than that month's cash back at any realistic spend. Cash back cards are for people who pay in full.
Anyone paying the fee on light spend. Below $2,000 a month you are paying $240 to earn less than a free 1% card would have given you.
Anyone unwilling to open Wealthsimple chequing. It is a hard requirement, not a nudge.
Category optimisers. If you already run a card that pays 4% on groceries and 4% on dining and you actually track it, a flat 2% may not beat your blended rate. Flat cards win on simplicity, not on ceiling.
Check your fee waiver first
See which card you qualify for
Wealthsimple shows your eligibility and whether your fee is waived before you commit to anything. New clients also get a welcome boost of up to 5% back for the first 30 days.
Questions people actually ask
Is the Wealthsimple credit card worth the $240 annual fee?
It is worth it if the fee is waived, or if you put more than $24,000 a year on the card. The fee buys you an extra one percent over a free 1% card, and one percent of $24,000 is exactly $240. Below that you are paying more than you earn back.
How do I get the Wealthsimple card fee waived?
Two ways, and either one on its own is enough: hold $100,000 or more in individual assets with Wealthsimple, or direct deposit at least $4,000 a month into a Wealthsimple chequing account.
Does the Wealthsimple credit card charge foreign transaction fees?
No. Wealthsimple adds 0% on foreign currency purchases, where most Canadian cards add 2.5%. You still pay the payment network’s conversion rate, which is normal and is not a fee Wealthsimple sets.
What income do you need for the Wealthsimple Visa Infinite card?
The Visa Infinite + needs a personal income of $80,000 or a household income of $150,000. The Visa Infinite Privilege needs $150,000 personal or $200,000 household, and also accepts $50,000 of annual card spend or $400,000 in assets instead.
Do you need a Wealthsimple chequing account to get the card?
Yes. An active Wealthsimple chequing account is a condition of holding the card on every tier, not just a way to waive the fee.
Is there a no-fee Wealthsimple credit card?
There is a no-fee version paying 1% that has been in limited beta since June 2026, offered to selected clients. Wealthsimple has not published a full benefits page for it, so its insurance coverage is not yet confirmed.
How is the cash back paid out?
It is redeemable to almost any Wealthsimple account at any time, including a Wealthsimple chequing account. There is no points programme and no redemption tiers to work around.
Where these numbers come from
Every fee, rate, income threshold and coverage limit above is quoted from Wealthsimple's own published card pages, read on 23 September 2026. The 1% beta card's details are reported by Rewards Canada, as Wealthsimple has not published a page for it.
- Wealthsimple Visa Infinite + card page
- Wealthsimple Visa Infinite Privilege card page
- Wealthsimple credit card overview
- Rewards Canada, on the no-fee 1% card in beta
Card terms change. If a figure here disagrees with Wealthsimple's own page, theirs is correct and this one is stale; tell us and it gets fixed. Nothing on this page is financial advice, and rates quoted are for information only.