This is the card I'd want from Wealthsimple if I qualified for it. It earns the same flat 2% on everything as the Visa Infinite+, with no foreign transaction fee, for the same $240, but adds airport lounge access, rental car coverage and roughly double the travel medical and trip cancellation limits. Wealthsimple calls it Canada's only Visa Infinite Privilege cash back card, and from what I can tell that is a fair description.
The bar is high, but there is more than one way over it: $150,000 personal or $200,000 household income, $50,000 a year in card spending, or $400,000 in assets at Wealthsimple. The fee works the same way as on the Infinite+, so if your savings or paycheque already sit at Wealthsimple, this is a premium travel card that costs nothing.
Welcome offer
New Wealthsimple clients get 5% cash back for their first 5 weeks, then drop to the standard 2%, as shown on the Wealthsimple page on October 13, 2026. The offer is the same for both Wealthsimple credit cards, and the page prints no cap and no end date, so check the terms in the app before planning a large purchase around it.
There is no minimum spend to unlock it. The value is simply 3% extra on whatever you put through the card in that window, which is small next to a points card's welcome bonus but easy to collect.
If you have a planned purchase, like a flight or an appliance, time the card's arrival so the purchase lands inside the first 5 weeks. At 5%, a $2,000 purchase earns $100 back instead of $40.
Fees & eligibility
The card costs $240 a year, billed as $20 a month (Quebec residents are billed $240 once a year, $220 in the first year). The first month is free for everyone, and the fee is waived for as long as you hold $100,000 in individual deposits or assets at Wealthsimple, or in any month with $4,000 or more of qualifying direct deposits into the linked chequing account. Upgrading from the Visa Infinite+ is free.
There is no foreign transaction fee. Interest is 20.99% on purchases and 22.99% on cash advances, rising to 25.99% and 27.99% after two missed minimum payments in a row. You need an active Wealthsimple chequing account to apply and to pay the card, and supply is limited, so meeting the criteria does not guarantee a card.
Earning rewards
Earning is identical to the Visa Infinite+: 2% cash back on every purchase, with no categories, no caps and nothing to activate. Purchases in foreign currencies earn the same 2%, and cash-like transactions, refunds and fees do not earn.
On top of the 2%, Wealthsimple runs boosted offers with partner brands such as Walmart, Hotels.com, Patagonia and Dyson. You register for the offer in the app and shop through the in-app link with the card; buying from the same store any other way earns the normal 2%.
Redeeming rewards
Cash back is deposited, not credited to the card. You redeem it in the app into your Wealthsimple chequing account, TFSA, RRSP or non-registered account, with no minimum amount.
That makes it easy to send rewards straight into an investment or registered account instead of letting them disappear into your balance. If the card is closed, unredeemed cash back is lost, so sweep it out regularly.
Perks & benefits
The Privilege-only headline is airport lounge access through the Visa Airport Companion Program, at more than 1,200 lounges. Wealthsimple's benefits pages say you get access but do not say how many visits are complimentary, so check the Visa Airport Companion app after enrolling before you count on free entry. Select airports add priority security, parking and other VIP offers.
The rest builds on the Infinite+ package. The Visa Infinite Luxury Hotel Collection adds a $100 credit per stay at 900+ hotels, Visa RSVP Rewards moves up to Diamond status at Sandman and Sutton Place hotels, and the GigSky eSIM comes with two extra 1GB plans a year and 30% off. You also get OpenTable prime-time reservations, up to 8% in Booking.com Travel Credits and no foreign transaction fees.
Insurance
The Privilege card carries the Infinite+ insurance with higher limits, underwritten by Chubb. Emergency medical pays up to $2,000,000 for the first 14 days of a trip (under age 65 only), and trip cancellation and interruption pay up to $1,500 per person and $5,000 per trip. Baggage coverage rises to $1,000 for delays and $1,000 for loss, with $1,250 combined, and flight delay pays up to $1,000 per person after 3 hours.
It also adds primary rental car collision and loss damage coverage for rentals up to 31 days on cars with an MSRP up to $65,000. The weak spots are the 14-day medical window, nothing for travellers 65 and older, and no medical, trip, baggage or flight delay coverage for Quebec residents. Most travel coverages need the full trip or airline ticket charged to the card.
My take
I'd get this card if you meet one of the Privilege criteria and already keep $100,000 or your paycheque at Wealthsimple; if you'd be paying the $240, I'd only do it for the lounge access and rental car coverage.
With the fee waived, I think this is the strongest no-cost card in Canada for someone who wants simple rewards: 2% on everything, no FX fee, cash back that can go straight into a TFSA, and insurance closer to a big-bank premium travel card than a cash back card. Against the Visa Infinite+, every difference I can find favours the Privilege, and the fee is the same.
Without the waiver, $240 a year takes $12,000 of spending just to cover with cash back, and the case rests on the travel extras. The lounge access is the one I'd check first, because Wealthsimple does not say how many visits are free. Travellers 65 and older get no travel medical, and Quebec residents lose the medical, trip and baggage coverages, so for them it is mostly a 2%, no-FX card with rental car coverage.
The good
- Flat 2% cash back on everything, foreign purchases included, with no FX fee
- Lounge access, primary rental car coverage and $2,000,000 travel medical
- Four ways to qualify, including $50,000 in spend or $400,000 in assets
The catch
- $240 a year unless you hold $100,000 at Wealthsimple or direct-deposit $4,000 a month
- Complimentary lounge visit count is not published
- Medical stops at 14 days and age 64; travel coverages exclude Quebec residents