Credit Card Review — Visa Infinite+ (featured tier)
Wealthsimple Credit Card
🎁 Welcome offer: +3% cash back boost (5% total) on your first $10,000 in spend within 30 days — invitation-only, not available to every applicant
MoneyMint Rating: 3.6/5 — based on our published rating criteria (rewards value, fees, flexibility, and eligibility transparency), scored for the Visa Infinite+ tier. Not sponsored by Wealthsimple.
The Wealthsimple Credit Card is a flat-rate cash back Visa from Wealthsimple, the Canadian investing and banking company, available in two tiers: Visa Infinite+ and the higher Visa Infinite Privilege. Both earn an uncapped 2% cash back on every purchase, charge no foreign transaction fee, and carry the same $240/yr fee (waivable for larger Wealthsimple relationships). This review is scored on the more accessible Visa Infinite+ tier, with a full comparison to Infinite Privilege below. Note: Wealthsimple’s own site currently lists only these two tiers — we did not find any current reference to a separate lower-fee entry tier some earlier research assumed existed, so treat this two-tier structure as the current lineup.
At a Glance (Visa Infinite+)
Annual Fee
$240/yr$20/mo; waived with $100K+ WS assets or $4K+/mo direct deposit
Purchase APR
20.99%21-day grace period
Rewards Rate
2% cash backFlat rate, uncapped, on all purchases
Welcome Bonus
+3% boostInvitation-only; capped at $10,000 spend in 30 days
Foreign Transaction Fee
0%Visa’s own exchange rate still applies
Minimum Income
$80,000Personal, or $150,000 household; plus an active Wealthsimple chequing account
Pros & Cons
Pros
- Flat 2% cash back on all spending, uncapped — no rotating categories to track
- Genuine 0% foreign transaction fee, a real and uncommon saving on travel or U.S. spending
- Cash back is redeemable anytime to any Wealthsimple account, not held back until year-end
- Comprehensive insurance suite included even on the entry (Infinite+) tier
- Annual fee can be fully waived for larger Wealthsimple clients
Cons
- $240/yr fee applies unless you hold $100,000+ in Wealthsimple assets or $4,000+/month in direct deposits — a high bar for most everyday applicants
- Requires an active Wealthsimple chequing account just to apply
- Minimum income requirement ($80,000 personal / $150,000 household) rules out many applicants outright
- Welcome offer is invitation-only, not something every applicant can request
- Visa Infinite Privilege is gated further, and Wealthsimple’s own terms note “limited quantities” may restrict approval even for qualified applicants
Rewards & Earn Rates
Perks & Benefits (Visa Infinite+)
Visa Infinite+ vs. Visa Infinite Privilege
Visa Infinite+ (featured tier)
- Eligibility: $80,000 personal or $150,000 household income, plus an active Wealthsimple chequing account
- Annual fee: $240/yr, waivable
- Rewards: 2% flat cash back, uncapped
- Includes: travel & purchase insurance, 0% FX fee, Luxury Hotel Collection
Visa Infinite Privilege (upgrade tier)
- Eligibility: Infinite+ requirements, plus one of — $150,000 personal / $200,000 household income, $50,000/yr card spend, or $400,000+ in Wealthsimple assets
- Annual fee: $240/yr, same waiver conditions
- Rewards: same 2% flat cash back, uncapped
- Adds: 1,200+ airport lounges, car rental collision/loss damage waiver, up to $1,000 flight delay coverage, metal card, dining & wine program access
Who It’s For
The Wealthsimple Credit Card suits higher earners who want a simple, flat-rate cash back card with no categories to track, especially existing Wealthsimple investing or chequing clients who can realistically waive the $240/yr fee. The 0% foreign transaction fee makes it a strong pick for frequent U.S. or international spenders. Infinite Privilege is worth considering only if you clear its higher income, spend, or asset bar and specifically want lounge access and premium travel perks.
It’s a weaker fit if your income falls under the $80,000/$150,000 threshold, if you don’t want to open a Wealthsimple chequing account just to apply, or if you’re counting on a guaranteed welcome bonus — this one is invitation-only rather than available to every applicant.
Key Drawbacks to Know Before You Apply
- The $240/yr fee is only waived with $100,000+ in Wealthsimple assets or $4,000+/month in direct deposits — most applicants will pay the full fee.
- Minimum income requirements ($80,000 personal / $150,000 household for Infinite+, higher for Privilege) are a hard eligibility bar, not a soft guideline.
- The card lineup has changed since our last research pass: Wealthsimple’s official site currently lists only two tiers (Visa Infinite+ and Visa Infinite Privilege). We could not find any current reference to a separate lower-fee entry tier some earlier planning notes assumed existed — it may be discontinued, renamed, or was never live. We’re going with what’s published on Wealthsimple’s own site as of the research date.
- The advertised 5% welcome offer is invitation-only — you can’t simply apply and expect to receive it.
- This review was researched from Wealthsimple’s own website and PDF disclosure statement via automated fetch, since wealthsimple.com is blocked to our usual browser research tool. The figures come from primary Wealthsimple sources, not a competitor site, but a final human spot-check against the live site is recommended before this page drives real traffic.
This is general information, not personalized financial advice — consider your own spending habits and consult a professional for decisions specific to your situation. Rates, fees, and offers are set by Wealthsimple and can change without notice; always confirm current terms on the issuer’s official page before applying.