Wealthsimple Visa Infinite+ and Visa Infinite Privilege Review (2026)

All figures are in CAD unless noted. Data based on Wealthsimple published terms and Help Centre as of May 2026. Always verify current terms with Wealthsimple before applying. You do not choose your card tier — Wealthsimple assigns Visa Infinite+ or Visa Infinite Privilege based on your qualifications.

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1. Summary

The Wealthsimple credit card offers 2% flat cashback on everything, zero FX fees, and a waivable $240 annual fee — a combination that doesn’t exist elsewhere in Canada. It is issued by a fintech (not a bank), requires an active Wealthsimple chequing account, and limits balance payment to that chequing account only. Two tiers exist (Visa Infinite+ and Visa Infinite Privilege) and Wealthsimple assigns your tier automatically. When the fee is waived, it is the most efficient flat-rate cashback card available to Canadians — but the ecosystem commitment it requires is real and must be evaluated honestly.

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2. Fees & Costs

Fee is charged monthly from issuance, not activation. If you receive the card and don’t use it, the $20/month charge still accrues until fee waiver conditions are met. For Quebec residents, the fee is charged annually (not monthly). — Wealthsimple T&Cs

Fee waiver math:

• $100K+ assets: Fee waived + metal card issued
• $4K+/month payroll direct deposit: Fee waived; you keep existing bank accounts but route paycheque through Wealthsimple first
• Neither: $240/year. Break-even vs a $0-fee 1% card (Home Trust) is at ~$24,000 in annual spend

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3. Earn Rate — Cash Back

• 2% cash back on all net purchases — no categories, no caps, no rotation
• Exclusions: cash-like transactions, refunds, applicable fees and adjustments
• Foreign currency purchases are NOT excluded — 2% cashback applies on international spend plus 0% FX fees; a genuine double benefit. (Contrast with Home Trust: 0% FX but no cashback on foreign spend.)
• Redeemable at any point to any Wealthsimple account (investing, savings, or chequing)
• No minimum redemption amount

Boosted cashback with partner brands: Elevated cashback available through in-app links; must register in Wealthsimple app. Partners as of May 2026: Walmart, Chewy, Audible, Hotels.com, Gap, Aesop, Sonos, Patagonia, Dyson. ⚠️ Boosted rates only apply when shopping through the Wealthsimple app — visiting partner websites directly does not qualify. — wealthsimple.com/en-ca/credit-card

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4. Welcome Offer & Ongoing Bonuses

No welcome bonus or introductory cashback offer. Value is entirely in the ongoing 2% earn rate and fee waiver structure.

• Referral program: Not published — verify with Wealthsimple.

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5. Statement Credits

No recurring annual statement credits exist on either tier.

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6. Travel & Lifestyle Benefits

Lounge Access

• Lounge access is Privilege-tier only. Infinite+ cardholders have no lounge benefit.
• Enrollment required via Visa Airport Companion App or visaairportcompanion.ca.
• Verify whether guest visits count against your 6 free visits (standard DragonPass rules apply).

Hotel & Status Benefits

Other Perks & Lifestyle Benefits

Both tiers:

• Visa Infinite Dining Series: Multi-course meals with renowned chefs and wine pairings
• Visa Infinite Wine Country Program: Exclusive perks at 60+ participating wineries in BC and Ontario
• 24/7 Visa Infinite Concierge: Travel, restaurant, gifting assistance
• Visa Zero Liability Protection: Fraud coverage for unauthorized charges
• Metal card: Automatically issued to clients with $100,000+ in Wealthsimple assets

Visa Infinite Privilege adds:

• VIP prime-time restaurant reservations: Reserved dining times at participating top restaurants
• GigSky: Free 15-day, 1GB global mobile data plan once a year + 20% off additional GigSky plans; covers 190+ countries — verify coverage at gigsky.com

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7. Insurance Coverage

Both cards include solid travel insurance. Privilege tier has meaningfully higher limits.

Flight delay coverage was added February 1, 2026 for both tiers — covers missed connections, delayed departures, and denied boarding with 3+ hour delays. Full airline ticket cost must be charged to the card.

⚠️ Zero travel medical coverage at 65+ — both tiers. Neither provides any emergency medical coverage for cardmembers aged 65 or older. — Wealthsimple insurance benefits

⚠️ Full trip cost must be charged to the card for trip cancellation/interruption and baggage coverage — stricter than TD and Amex cards.

Certificate of Insurance: wealthsimple.com — COI (Chubb)

Where the insurance delivers relative to the fee. When the annual fee is waived, this is genuinely impressive coverage for a $0 effective cost card: $1M–$2M travel medical (14 days), $1,000 flight delay, $1,000 mobile device insurance. The mobile phone coverage and flight delay coverage are better than the Scotiabank Passport on those specific lines. The 2% cashback on foreign purchases combined with 0% FX is also a combination the Scotiabank Passport cannot match.

The 14-day medical limit and full-cost charge requirement are real constraints. Any trip over 14 days requires top-up medical coverage regardless of which tier you hold. The full-trip-cost charge requirement for trip cancellation is stricter than TD and the Amex cards, which generally only require the ticket purchase to be on the card. If you frequently book flights with points and hotels with another card, this coverage may not apply.

65+ coverage is absent entirely — same as all three Amex cards reviewed here (personal Platinum, Business Platinum, and Aeroplan Reserve). Of all the cards in this review series, only the TD Aeroplan Infinite Privilege covers 65+ at all — and only for 4 days. For cardholders approaching or past 65, a standalone travel medical policy is mandatory regardless of which card they carry.

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8. Network & Acceptance

• Network: Visa Infinite+ / Visa Infinite Privilege
• Domestic acceptance: Full Visa acceptance
• International acceptance: Full global Visa acceptance; Privilege tier carries Visa Infinite Privilege status
• Contactless / tap: Virtual card has no tap limit (requires phone unlock — extra security layer); physical card has merchant-imposed limits
• Apple Pay / Google Pay / Samsung Pay: Supported
• Verified by Visa: Online purchase security
• Chip & PIN: Yes

Visa Infinite+ and Visa Infinite Privilege both accept at every merchant Visa is accepted. As with the Scotiabank Passport, the Infinite vs Infinite Privilege distinction affects tier-specific perks (GigSky, concierge features, restaurant access), not merchant acceptance. Internationally, both tiers work equally well where Visa is accepted — which is meaningfully more broadly than Amex.

The virtual card is a genuine travel advantage. The Wealthsimple app generates a virtual card number for online purchases. Combined with no tap limit on the virtual card (secured by phone unlock), this provides a layer of payment security that physical cards — including all other cards reviewed here — do not offer by default.

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9. Application & Underwriting

The ecosystem lock-in is the defining application consideration. Every other card reviewed here lets you apply, get approved, and use it — while keeping your existing bank account exactly as it is. Wealthsimple requires opening a chequing account before you can apply, and your card balance can only be paid from that account. This is not a minor inconvenience; it means Wealthsimple becomes a core piece of your banking infrastructure. For existing Wealthsimple clients, this is a non-issue. For everyone else, the question is whether 2% flat cashback with 0% FX is worth restructuring how your money moves.

Tier assignment adds uncertainty. You apply for the Wealthsimple credit card, not for a specific tier. If your goal is Visa Infinite Privilege (for DragonPass lounge access or the higher insurance limits), you need to meet the Privilege thresholds — but Wealthsimple ultimately decides which tier to issue. Unlike every other card in this review, you cannot simply choose the product you want and pay its fee.

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10. Ecosystem Requirements — The Real Catch

This section is critical and frequently skipped in other reviews:

1. Active Wealthsimple chequing account required to apply. You cannot get the card without opening one first.
2. You can only pay your balance from a Wealthsimple chequing account. No external bank transfers. If your Wealthsimple chequing is unfunded, you risk missing a payment even if you have money elsewhere.
3. Fee waiver via direct deposit requires routing your paycheque to Wealthsimple. Wealthsimple becomes your primary chequing institution. You can keep your existing bank account, but your pay flows through Wealthsimple first.
4. Limited availability — waitlist. Even if you qualify, you may not receive the card immediately. — wealthsimple.com
5. Tier assignment is not your choice. If lounge access (Privilege-only) is your goal and you don’t qualify for Privilege, you cannot obtain it on the Infinite+ tier.

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11. Statement & Payment

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12. Customer Service

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13. Security & Risk

• Regulatory framework: Wealthsimple Payments Inc. is a federally registered payment service provider; the card is issued by Wealthsimple in partnership with People’s Trust, a federally regulated trust company. FCAC oversight applies to consumer credit practices. Standard chartered bank regulatory framework applies.
• Fraud protection: Visa Zero Liability Policy — no liability for unauthorized transactions reported promptly
• Tokenization: Apple Pay, Google Pay, Samsung Pay via Visa token service; virtual card for online purchases
• 3D Secure: Verified by Visa for online authentication
• Ecosystem risk: Inability to pay from an external bank account creates a single point of failure — if Wealthsimple chequing is unfunded, payments are at risk
• T&C change history: Flight delay coverage was added February 1, 2026 (a positive change). Wealthsimple has periodically updated fee waiver thresholds. As a fintech, benefit changes can occur with less notice than major bank cards.
• Devaluation risk: Cashback is straight percentage; no points currency at risk of devaluation.
• Forced arbitration: No US-style forced arbitration; disputes handled under Canadian consumer protection framework (FCAC)

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14. Hidden Gotchas / Fine Print

1. Fee accrues from issuance, not activation. $20/month starts on card receipt — set up fee waiver conditions immediately.
2. Quebec residents are billed annually, not monthly.
3. 2% cashback applies to foreign currency transactions. Unlike Home Trust (no cashback on foreign spend), this is a genuine double benefit.
4. Cashback is not auto-applied to your balance. You must manually redeem it to a Wealthsimple account.
5. Zero travel medical coverage at 65+. Both tiers, no exceptions.
6. Full trip cost must be charged to the card for cancellation/interruption coverage.
7. Phone insurance requires paying your monthly phone bill with the card — not passive.
8. Car rental CDW is Visa Infinite Privilege only. Infinite+ has no car rental insurance.
9. Boosted cashback only works through the Wealthsimple app — direct partner website visits don’t qualify.
10. You cannot pay your bill from a non-Wealthsimple bank account. This is the single most operationally consequential constraint of this card.

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15. Who It Is For — and Who It Is Not

Best for: Canadians who are already Wealthsimple clients (or willing to become ones) and want the simplest possible earning structure — 2% on everything, no optimization required — with 0% FX on international spend. Particularly strong for people who spend broadly across categories without a dominant bonus category (not primarily Air Canada flyers or Sobeys shoppers). For existing Wealthsimple Premium clients ($100K+ assets), it is the best flat-rate card in Canada at $0 effective cost.

Not for: Air Canada loyalists needing Aeroplan earn acceleration, Maple Leaf Lounge access, or priority airport services. Not suitable for travellers aged 65+ who need travel medical coverage. Not for those unwilling to route banking through Wealthsimple. Not for anyone who wants their card immediately — waitlist is real. Not if Visa Infinite+ lounge access is your goal; it only exists at the Privilege tier.

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16. Quick Comparison Context

Decision logic: Choose the Wealthsimple card if the 2% flat cashback on everything (including foreign spend) and 0% FX is more valuable to you than lounge access, Air Canada benefits, or welcome bonuses — and you are willing to use Wealthsimple as your primary chequing. Choose Scotiabank Passport over Wealthsimple if you want a card you can add to your wallet without changing your banking relationship, with a meaningful welcome bonus and better trip cancellation coverage. Choose Home Trust over Wealthsimple if you want $0 cost with 0% FX but cannot or will not use Wealthsimple chequing — accepting that you earn only 1% on domestic spend and nothing on foreign spend.

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17. Sources