Evaluate: Wealthsimple Visa Infinite* Card (Now with Journey Insurance coverage)

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 out there by way of public waitlist, the cardboard nonetheless presents limitless 2% money again on all purchases, no international 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 payment to $20, except you qualify for a waiver by being a Premium or Technology consumer, or by establishing $4,000/month in direct deposits as a Core consumer.

Even with these adjustments, the cardboard nonetheless delivers one of the crucial compelling worth propositions in Canada: limitless 2% money again on all purchases, with no international transaction charges — a uncommon mixture that is still unmatched.

Let’s break down what this card really presents, 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 submit quickly.

What we love: Limitless 2% money again with no caps, no international 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 brief enhance or assertion credit score.

In fact, it’s nonetheless in a restricted rollout and solely out there by means of a public waitlist for current Wealthsimple shoppers, so it’s attainable a welcome provide could also be launched later when the cardboard is launched to the general public.

Nonetheless, it’s laborious to disregard the missed alternative right here. Most competing money again playing cards sweeten the deal for brand spanking 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 expenses you $20/month from day one (except you qualify for a payment waiver), with out providing any instant return. It’s a notable downside in a aggressive market.

Whether or not this adjustments sooner or later stays to be seen, however for now, this card doesn’t convey something further to the desk for brand spanking new candidates.

Limitless 2% Money Again on Every little thing, 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 provide 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, gasoline, and recurring payments, however solely on the primary $15,000 per class annually^†. 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 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 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. 

Against this, 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 often maxes out different playing cards or simply desires an easier answer with out micro-managing bonus classes.

Even higher, you may 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 easy and in your phrases.

No International Transaction Charges

One other main win with the Wealthsimple Visa Infinite* Card is the no international transaction charges. Most Canadian bank cards tack on an further 2.5% payment if you spend in international foreign money — a quiet however expensive cost that eats into your rewards.

This makes Wealthsimple’s flat 2% earn price much more invaluable when travelling or procuring on-line internationally.

For instance, a typical money again card would possibly earn 4% on groceries or eating, however when you issue within the 2.5% FX payment, your web 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 payment, 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 only 1x.

Against this, 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 a substitute, 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 almost each Visa Infinite card in Canada presents the identical suite.

Wealthsimple itself does provide consumer tier advantages primarily based on the scale of your funding portfolio, however these aren’t tied to holding the bank card and don’t improve the cardboard expertise instantly.

Insurance coverage Protection

One of many greatest latest enhancements to the Wealthsimple Visa Infinite* Card is the addition of a surprisingly sturdy insurance coverage bundle, lastly bringing it in step with what you’d count on from a premium bank card.

Right here’s what the up to date protection consists of:

• 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.
  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 in the event you’re hospitalized.
• Cellular System Insurance coverage: As much as $1,000 in case your cellphone is misplaced, stolen, or by chance broken.
• Buy Safety: Covers new gadgets towards theft or harm for 90 days after buy.
• Prolonged Guarantee: Doubles the producer’s guarantee as much as one extra yr.
• 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 resulting from a lined motive.

That’s a robust lineup for a flat-rate money again card, and greater than sufficient to cowl the fundamentals for infrequent travellers.

Be aware: Protection is presently 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 utility hyperlink, Canadians can be a part of the public waitlist instantly by means of the Wealthsimple app.

If you happen to haven’t registered for the waitlist but, right here’s methods to do it:

1. Check in to the Wealthsimple cell app
2. Scroll and faucet Add an account
3. Choose Open a brand new account
4. Choose Credit score Card from the account choices
5. Faucet Be a part of the waitlist
6. Examine the field and faucet Subsequent to conform to the tender credit score examine
7. When you’re on the waitlist, Wealthsimple will ship a notification if you’re eligible to use

Be aware: If you happen to stay in Quebec, you’re nonetheless out of luck — the cardboard isn’t out there there but.

That exclusivity would possibly add some attract, nevertheless it additionally means this card isn’t a viable choice for many Canadians, a minimum of not but.

Moreover, you may solely pay your card steadiness utilizing a Wealthsimple Chequing account. Realistically, you doubtless received’t even obtain an invitation except you have already got one.

As soon as the product formally launches, it’s attainable that funds from exterior banks could also be allowed. However for now, this seems like a wise technique to encourage clients to carry extra of their money and belongings inside the Wealthsimple ecosystem.

The Wealthsimple Visa Infinite* Card comes with a $20 month-to-month payment*, which will be waived in the event you’re a Premium or Technology consumer. Core shoppers may also have the payment waived by establishing month-to-month direct deposits of a minimum of $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 international foreign money at ATMs overseas.

Wealthsimple not too long ago made it even higher by reimbursing ATM withdrawal charges globally — a perk not often seen in Canada. This makes it a perfect journey companion, particularly in nations the place ATM charges will be steep, like Thailand, Indonesia, or Mexico.

If you happen to’re already utilizing it for journey or day-to-day purchases, being tied to the Chequing account received’t really feel like a barrier, the truth is, it is perhaps a bonus.

Different Playing cards to Contemplate

The Wealthsimple Visa Infinite* Card stands out for its limitless 2% money again and no international transaction charges, nevertheless 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 alternate 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 the whole lot else, so you might not earn as a lot total in case your spending is extra normal.

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 strong journey insurance coverage.

Simply notice that Amex acceptance will be hit-or-miss overseas, and non-bonus classes solely earn 1x.

By comparability, the Wealthsimple Visa Infinite* Card earns a flat 2% in every single place.

Whether or not you’re reserving flights or shopping for bottled water in Europe, the simplicity and consistency will be laborious 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 international transaction charges, two options which are not often seen collectively.

It’s a robust 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 way more like a well-rounded product, fairly than only a beta check.

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 could possibly 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 circumstances apply. Please discuss with Wealthsimple’s web site for essentially the most up-to-date product info.