Credit cards · Card review
Wealthsimple Visa Infinite Privilege review
The most disruptive card launch in years: 2% on everything, no FX fee, lounge access — free if you hold $100k at Wealthsimple or direct-deposit $4,000/month, $20/month if not. For waiver-qualified households it simply outearns the field; for everyone else it’s a $240/yr bet on an ecosystem.
Best for: Wealthsimple clients who clear a waiver — for whom this becomes the default card
Pros
- 2% flat on everything, uncapped — plus 0% FX, a pairing nothing else offers
- Fee fully waivable: $100k in Wealthsimple assets or $4,000/month direct deposit
- 1,200+ airport lounges included
- Visa Infinite Privilege acceptance — no Amex gaps
Cons
- $20/month ($240/yr) without a waiver — steep against $120 rivals
- Young program: terms, insurance and perks may evolve
- Insurance certificate details deserve a read before relying on the medical
What Wealthsimple actually shipped
Not the prepaid Cash card — a true Visa Infinite Privilege credit card issued by Wealthsimple Payments: 2% back on every purchase with no category games, no foreign-exchange fee (“we don’t charge any foreign exchange fees — the payment network still applies a currency conversion rate”), emergency medical and trip cancellation included, and a 1,200+ lounge network. On a Visa, so the Amex acceptance tax never applies.
The pricing is pure Wealthsimple: $20/month, waived entirely with $100,000 of combined Wealthsimple assets or $4,000/month of direct deposits. The card is less a product than a recruitment tool for the ecosystem — and a very good one.
The math at each price
Waived: it’s the best flat-rate card in Canada full stop — 2% uncapped beats Rogers’ conditions, matches SimplyCash Preferred’s base without the Amex gaps, and adds no-FX on top (our worked table shows $600/yr on the standard mix, all kept). At $240/yr: the same earn nets $360 on that mix — behind every $120 rival — so the unwaived card only makes sense as a no-FX travel play, where the lounge network and Visa acceptance still argue for it against Scotia’s pair.
The young-program caveat
This card is new, and new programs move: earn rates, waiver thresholds and insurance terms can all evolve faster than at the incumbents (Wealthsimple’s own pricing wording is dated mid-2025). The insurance bundle says the right words — emergency medical, trip cancellation, mobile protection — but the certificate’s age limits and windows deserve a personal read before anyone over 60 relies on them. We flag rather than guess; the certificate-verified field is on the retiree page.
Frequently asked questions
What does the Wealthsimple Visa Infinite Privilege cost?
Annual fee: $0 — $20/month — waived with $100k+ in Wealthsimple assets or $4,000+/month direct deposit. Purchase rate 20.99%; cash advances 22.99%. Foreign transactions: None — “We don’t charge any foreign exchange fees” (network conversion rate applies). All figures verified at Wealthsimple Payments’s own pages on June 12, 2026 — compare the field on our main card table.
What are the Wealthsimple Visa Infinite Privilege’s earn rates — with the caps?
2% cash back on everything, no categories, no caps. Caps are where card marketing goes to die — our worked household math prices every major card through its caps.
Does the Wealthsimple Visa Infinite Privilege include travel medical insurance?
Emergency medical + trip cancellation included — confirm age limits in the certificate before relying on it. Card medical attaches to holding the card in good standing (the trip doesn’t need to be charged to it), but trip cancellation/interruption benefits do require paying with the card. The full certificate-verified age-cliff table is on our retiree cards page.
Who can get the Wealthsimple Visa Infinite Privilege?
Waiver-based pricing rather than an income gate — see issuer terms. No welcome offer is currently advertised. Offers change without notice — confirm on the issuer’s page before applying.
The bottom line
If you already keep $100k at Wealthsimple — or your paycheque can land there — this is plausibly the only card you need: 2%, no FX, lounges, Visa, free. Outside the waiver, the $120 incumbents keep more of your money. Either way it forced the whole market to sharpen, which is worth something.
Educational review, not credit advice or an offer of credit. Facts verified at Wealthsimple Payments’s own pages (insurance from certificates where stated) on June 12, 2026; offers, rates and terms change without notice — confirm on the issuer’s page before applying. Quebec residents may see different offers and rates.