Wealthsimple Visa Infinite: Quick Guide

The Basics

Wealthsimple Visa Infinite gives you:

• 2% cashback on everything — no categories to track
• 0% foreign transaction fees — no extra cost when you travel
• $240 annual fee — but it can be waived

When Is the Fee Waived?

You pay $0 if you have:

• $100,000+ invested with Wealthsimple, OR
• $4,000+/month direct deposit to Wealthsimple chequing

If neither applies, you pay $240/year. You’d need to spend $12,000/year to break even on the fee.

The Catch

You must have a Wealthsimple chequing account to get this card. You can only pay your credit card bill from that account — no external bank transfers allowed.

Who Should Get It?

Great for:

• People who already use Wealthsimple
• Anyone who wants simple rewards (no categories to remember)
• Travellers who want 0% foreign fees

Not for:

• People who don’t want to switch their banking
• Anyone who needs the card immediately (there’s a waitlist)
• Travellers 65+ (no travel medical coverage)

Key Benefits

• Lounge access (Visa Infinite Privilege tier only): 6 free visits/year
• Travel insurance: Up to $2M medical (14 days max), trip cancellation, baggage coverage
• Mobile phone insurance: $1,000 coverage
• Flight delay coverage: Up to $1,000 for 3+ hour delays

Bottom Line

If you’re already a Wealthsimple client or willing to become one, this is one of the best flat-rate cashback cards in Canada — especially when the fee is waived. The 2% on everything (including foreign purchases) plus 0% FX fees is a combination that’s hard to beat.

Want the full details? Read our complete Wealthsimple Visa Infinite Review for all the numbers, insurance details, and comparisons.