While not a bank itself, Wealthsimple has become a full-service alternative to the major banks, with many of the same products, including credit cards.

Initially, Wealthsimple launched a Visa Infinite card to a limited number of Canadians. Those who were approved for the card before April 28, 2026 have the original, grandfathered version of this card.

New applicants will instead receive the Wealthsimple Visa Infinite + Credit Card or Wealthsimple Visa Infinite Privilege Credit Card, depending on which card you qualify for.

Visa Infinite+ is the newest tier of Visa credit cards. They're very similar to Visa Infinite cards, though cardholders enjoy 10GB of free data from GigSky as a bonus perk.

Earning cash back with the Wealthsimple Visa Infinite + Credit Card

Everything about this card is simple, and it starts with the rewards. You'll get cash back with this card, so there's no need to worry about redeeming points for the best value. And the earn rate is as simple as they come: 2% cash back on all purchases.

You're free to cash out your rewards to almost any Wealthsimple account whenever you like, including their high-interest chequing account. Think of it as getting a 2% rebate on all the purchases you made with the card.

Pros to the Wealthsimple Visa Infinite + Credit Card

There's more to like with this card than just the rewards.

1. No foreign exchange fees

Credit cards that don't charge the typical 2.5% fee on foreign transactions are rare in Canada, but the Wealthsimple Visa Infinite + Credit Card is one of them. For every $100 in purchases not made in Canadian dollars, you're saving yourself $2.50.

2. Get the annual fee waived

The annual fee itself is $240, which gets charged out as $20 per month. It's quite high for a Visa Infinite card, but this one can be waived in 1 of 2 ways.

First, the monthly fee goes away if you're a Wealthsimple Premium or Generation client (meaning you have at least $100,000 deposited with them).

If you set up direct deposits totalling $4,000 or more per month (think your payroll or government benefits), you also won't pay the monthly fee.

3. Metal card for Premium and Generation clients

Another special feature if you're a Premium or Generation client – you'll get a metal credit card. While it doesn't provide any real benefits, it does feel nice to hold and looks quite luxurious.

4. Visa Infinite benefits

This card includes all the usual Visa Infinite benefits, with a little extra since the card is now a Visa Infinite+.

Enjoy the Visa Infinite Luxury Hotel collection, dining experiences, and Platinum status at Sandman, Sandman Signature, and Sutton Place hotels.

Plus, Visa Infinite+ adds a great eSIM perk for travellers: Get 10GB of free GigSky global mobile data for 15 days.

Cons to the Wealthsimple Visa Infinite + Credit Card

There are 2 things to keep in mind with the Wealthsimple Visa Infinite + Credit Card.

1. Requires a Wealthsimple chequing account

You can't pay your Wealthsimple Visa Infinite + Credit Card credit card bill from just any bank account. It can only be paid from a Wealthsimple chequing account. In fact, you need to have this account before you can even apply for the credit card.

This chequing account does come with a prepaid card, and you can learn more about it here.

2. High income requirements

Like all other Visa Infinite cards, you'll need to meet strict annual income requirements of either $80,000 personal or $150,000 household to qualify.

Comparison to the Wealthsimple Visa Infinite Privilege Credit Card

Wealthsimple also offers another credit card in the Wealthsimple Visa Infinite Privilege Credit Card. A lot of the basics are the same:

• Rewards
• Annual fee
• No foreign exchange fees

But the Wealthsimple Visa Infinite Privilege Credit Card comes with upgraded benefits. Most notably, it adds airport lounge access and expands your insurance package.

Here are the differences between the 2 cards. Which one you ultimately get is based on the income you report when applying for a Wealthsimple Visa.

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FAQ

What does the Wealthsimple Visa Infinite + Credit Card offer for rewards?

The Wealthsimple Visa Infinite + Credit Card is a cash back credit card that offers 2% cash back on all purchases. The cash back you earn can be paid out whenever you like and deposited into almost any Wealthsimple account.

What are the requirements to get the Wealthsimple Visa Infinite + Credit Card?

There are a couple of requirements for getting the Wealthsimple Visa Infinite + Credit Card. To even apply, you need to have a Wealthsimple chequing account, which is also the only account you can pay your bill from. The other requirement involves your income – $80,000 personal or $150,000 household

What is the annual fee of the Wealthsimple Visa Infinite + Credit Card?

The Wealthsimple Visa Infinite + Credit Card has an annual fee of $240 that gets charged out as $20 per month. It's waived for Wealthsimple Premium or Generation clients and when users set up monthly direct deposits of $4,000 or more into a Wealthsimple chequing account.