Bonuses & Fees

The Wealthsimple Visa Infinite Privilege* Credit Card currently offers no sign-up bonus, not even a temporary boost or a statement credit, which is rare for a card at the Visa Infinite Privilege tier. Like its Visa Infinite+ sibling, the value proposition is a flat 2% cash back on everything and no foreign transaction fees, with a stronger travel benefits package layered on top. If a big upfront bonus is the priority, our monthly roundup of Canada's best credit card offers has you covered.

The fee is $20 per month, or $240 per year, billed annually for Quebec residents, identical to the Visa Infinite+. It's waived entirely with $100,000 or more in eligible Wealthsimple assets, or with direct deposits of at least $4,000 per month into a Wealthsimple Chequing account.^†

The eligibility bar is higher, though. You'll need a personal income of $150,000 or a household income of $200,000. Alternatively, you can qualify with $50,000 in annual spending on the card, or with $400,000 in assets held with Wealthsimple.

An active Wealthsimple Chequing account is required, and the balance can only be paid from Wealthsimple Chequing, as payments from external accounts aren't supported. Supplementary cards aren't available.

Note that card availability is limited, and meeting the requirements doesn't guarantee approval.

Earning Rewards

The Wealthsimple Visa Infinite Privilege* Credit Card earns a flat 2% cash back on all eligible purchases, with no tiers, no caps, and no categories to track.^† The 2% doesn't apply to cash-like transactions, refunds, or fees and adjustments.

With no foreign transaction fees, the full 2% also applies to purchases in any currency, with only the Visa network conversion rate in play.^†

Redeeming Rewards

Cash back can be redeemed at any point into almost any Wealthsimple account. There's no annual payout schedule to wait for, and no points program to decode.^†

Rewards land as real cash, so you can sweep them into your chequing balance, or straight into your investing accounts and put them to work. A flat-rate cash back card doesn't come with redemption sweet spots. 2% back is 2% back, and that simplicity is precisely the appeal.

The Wealthsimple Visa Infinite Privilege* Credit Card comes with an enhanced travel and purchase insurance package underwritten by Chubb Insurance Company of Canada:^†

Travel emergency medical: up to $2,000,000 for the first 14 days of a trip (under age 65)
Trip cancellation: up to $1,500 per person, to a maximum of $5,000 per trip
Trip interruption: up to $1,500 per person, to a maximum of $5,000 per trip, plus up to $150 per day for accommodations and meals when your return is delayed
Flight delay: up to $1,000 per person ($2,500 per occurrence) for flight delays, missed connections, or denied boarding of three hours or more
Delayed and lost baggage: up to $1,000 for emergency purchases when checked baggage is delayed six hours or more, and up to $1,000 for lost or damaged checked baggage, to a combined maximum of $1,250
Auto rental collision/loss damage: primary coverage on rentals of up to 31 consecutive days, for vehicles with an MSRP of up to $65,000
Mobile phone insurance: up to $1,000 per claim, with a maximum of two claims per 12-month period and a $50 deductible, when your monthly phone bill is charged to the card
Purchase security and extended warranty: 90-day protection against loss, theft, or damage up to $1,000 per occurrence, and double the manufacturer warranty up to one additional year, to a combined lifetime maximum of $10,000

To activate the travel coverages, the full cost of the trip or airline ticket must be charged to the card. Note that the four travel coverages (emergency medical, trip cancellation and interruption, baggage, and flight delay) are not available to residents of Quebec.

Refer to the certificate of insurance for complete terms, eligibility conditions, and coverage limits.

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