Wealthsimple Visa Infinite + Credit Card

Flat 2% cash back on all 'Qualified Spend' with no categories and no published cap. The Additional Credit Card Terms & Conditions (ACCTC-080426) define Qualified Spend as excluding cash-like transactions, refunds, fees and adjustments. So cash advances, balance-type transactions and fee reversals earn nothing. Cash back is credited into a Wealthsimple account (not a statement credit), there is no minimum redemption, and unredeemed cash back is forfeited if the card is closed or cancelled. Wealthsimple separately markets elevated 'boosted' cash back at named partners (Walmart, Chewy, Audible, Hotels.com, Gap, Aesop, Sonos, Patagonia, Dyson) accessed only through in-app links; the boosted rates are personalised, not published as fixed numbers, and are not part of the 2% base.

No welcome bonus is published for this card.

The $240 fee is billed as $20/month (Quebec residents are billed the $240 annually, on the first statement). It is waived only while you hold $100,000+ in individual net deposits/AUM with Wealthsimple OR deposit at least $4,000/month into the Wealthsimple chequing account linked to the card. The waiver is tested monthly, so a month below threshold means a $20 charge. A funded, active Wealthsimple chequing account is mandatory both to apply and to pay the card; there is no other payment method. Trip cancellation/interruption is capped at $1,000 per insured person and $3,000 per trip for all insureds combined, and only covers trips booked after 17 April 2026. Delayed/lost baggage is $1,000 combined ($500 delayed, $750 lost/damaged), requiring a 6+ hour delay with purchases made within 96 hours of arrival. Flight delay pays up to $1,000 per occurrence / $2,500 per trip for 3+ hour delays, missed connections or denied boarding, effective 17 April 2026. Mobile device insurance is $1,000 per claim with a $50 deductible, max 2 claims per 12 months, and requires you to pay the monthly phone bill with the card. Purchase security is $1,000 per occurrence with a $10,000 annual maximum, 90 days. Critically, essentially all of the insurance (travel medical, trip cancellation/interruption, baggage, flight delay) is NOT available to Quebec residents. A Quebec cardholder pays the same $240 and gets materially less. There is no rental car CDW on this tier and no lounge access. Visa Infinite concierge is included. DIRECT CONTRADICTION: the cardholder agreement publishes a supplementary card fee of '$120 per card charged annually', but Wealthsimple's own apply/eligibility help article says 'No, you can't add another cardholder at this time.' The fee is documented but the product does not currently support additional cardholders. The $240 fee is not an ordinary annual fee. It is $20 billed every month, and the waiver is re-tested every month. Dropping below $100K assets or missing a $4,000 deposit in a single month triggers a $20 charge. 0% FX is a genuine zero (disclosure states '0.00%'), but Visa's own network conversion rate still applies. Wealthsimple only waives its own markup. Quebec residents are excluded from travel medical, trip cancellation/interruption, baggage and flight delay insurance while paying the identical fee, and are billed the fee annually up front rather than monthly. Balance transfers are not offered at all on this product. Not a 'no promo' situation, the feature does not exist. APR jumps to 25.99% purchases / 27.99% cash advances after two consecutive missed minimum payments and is not automatically restored. 'Boosted' partner cash back is advertised with named brands but no published rates. It is personalised and only accessible through in-app merchant links. You cannot hold this card without an active Wealthsimple chequing account; closing the chequing account closes your ability to pay the card.