Offers
Welcome Bonus
There is currently no welcome bonus offered on the Wealthsimple Visa Infinite Privilege Card for new applicants.
Referral Bonus
If you apply for a new Wealthsimple account using a referral link, you will receive a $25 bonus.
Earning Cash Back
The Wealthsimple Visa Infinite Privilege Card card earn cash back for all eligible purchases at the following rates:
- 2% Cash Back on ALL eligible purchases
There are no categories or spending limits tied to this 2% cash back rate.
Redeeming Cash Back
After each statement period, earned cash back is automatically deposited into your Wealthsimple Chequing account every month.
You can also manually initiate a redemption of your cash back on settled transactions at any time. This gives you the option to move the cash back funds into your Crypto, Stock Trading, or Managed Investing accounts, including TFSA or RRSP accounts. Cash back cannot be redeemed directly into RESP or RRIF accounts.
Benefits
No Foreign Transaction Fees
The Wealthsimple Visa Infinite Privilege Card offers no foreign exchange fees when making purchases in other currencies, saving cardholders 2.5% on every transaction that is made in a currency other than Canadian dollars. Cardholders will pay only the exchange rate when completing foreign currency transactions.
This makes the Wealthsimple Visa Infinite Privilege Card a great card to use when traveling abroad since saving 2.5% on every foreign currency transaction can add up quickly.
Lounge Access
The Wealthsimple Visa Infinite Privilege Card comes with airport lounge access benefits. You’ll get a Visa Airport Companion Program membership (powered by DragonPass) and six free airport lounge passes per year, allowing access to more than 1,200 lounges across the globe.
To use this benefit, you must enroll online or through the app using your card details, after which you can access participating lounges.
- Enroll: Go to the Visa Airport Companion website or download the mobile app and sign up using your Visa Infinite Privilege card to verify your eligibility.
- Access lounges: Once enrolled, show your digital membership card from the app at the lounge reception for complimentary or paid entry.
Metal Card
If you hold Premium or Generation status (>$100,000 in assets held with Wealthsimple), you receive a heavy metal card. Meanwhile, core clients (those with less than $100,000 in assets) receive a plastic version of the card. This applies whether you are approved for the Wealthsimple Visa Infinite or Visa Infinite Privilege.
Note: If a client upgrades to Premium or Generation status after initially receiving a plastic card, they can contact Wealthsimple support to request a metal card upgrade.
Fees & Eligibility
| Personal Income | $150,000† |
| Household Income | $200,000† |
| Annual Fee | $240 (billed at $20 per month) ‡ |
| Foreign Exchange Fee | 0.00% |
| Purchase Rate | 20.99% |
| Cash Advance Rate | 22.99% |
| Balance Transfer Rate | 22.99% |
† Applicants can also meet eligibility criteria by holding $400,000 in assets with Wealthsimple
‡ Annual Fee Waiver: You pay $0 if you meet one of these criteria:
- Status: You are a Premium ($100k+ assets) or Generation ($500k+ assets) client.
- Direct Deposit: You deposit at least $4,000/month into your Wealthsimple Cash account.
Qualifying direct deposits include payroll, CPP, Old Age Security, and Employment Insurance.
Insurance Coverage
The Wealthsimple Visa Infinite Privilege Card offers the following types of insurance coverage:
| Emergency Travel Medical | $2,000,000 (14 days, age <65) |
| Trip Cancellation/Interruption | Up to $1,500 per eligible person, max $5,000 per trip |
| Delayed and Lost Baggage | Up to $1,250 |
| Rental Car Collision/Loss Damage | Full Coverage (up to 48 days) |
| Mobile Device | Up to $1,000 with $50 deductible |
| Purchase Security | Up to $1,000 per occurrence, max $10,000 total, 90-day coverage period |
| Extended Warranty | Doubles the manufacturer’s repair period, up to an additional year |
Refer to the Wealthsimple help centre or in the certificate of insurance for more details.
Other Wealthsimple Credit Cards
| Credit Card | ||
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None Estimated value: $0 |
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