The ClearFin bottom line
💸 2% Everything
Its strongest published earn rate in our data is 2.0% on dining. The $240 annual fee should be weighed against the rewards and benefits you expect to use.
Checked 2026-08-09 · Official issuer catalogueIndependent ClearFin review · Wealthsimple
Wealthsimple Card
Full earn rates, fees and benefits for the Wealthsimple Card.
Independent comparisonFees includedCanadian card data
- Annual fee
- $240
- Reward type
- Cash Back
- Welcome offer
- Not currently verified
- Insurance
- Not listed
Offers can change without notice
Confirm with the issuer
💸 2% Everything
Welcome bonus
No current welcome offer is verified in ClearFin's catalogue.
Issuer promotions change frequently. Check the card's official page before applying.
How you earn
- Earn 2% cash back on all eligible purchases with no category restrictions
- Cash back applies to net purchases (excludes cash advances, fees, and refunds)
- Cash back can be redeemed into eligible Wealthsimple accounts
- Cash back accrues continuously with no expiry as long as account remains open
- Bonus cash back offers available through partner merchants when activated in-app
Costs and requirements
Fees & eligibility
Confirm final approval criteria and current rates directly with the issuer.
Annual fee$240
Purchase interest20.99%
Cash advance interest22.99%
Foreign transaction fee0%
Income requirement$150,000Issuer approval criteria apply
Household income$200,000Alternative minimum
Reward limits: No spending caps or category-based earning limits are disclosed for the 2% cash back structure.
Earning cap
Earning cap
Using your rewards
Redemption options
Redemption values and availability may vary by option and can change.
Redeem earned cash rewards using the issuer's available cash-back or statement-credit options.
Minimum redemption amounts, automatic payout timing, and eligible account credits vary by issuer; confirm the current program terms before applying.
Beyond the points
Benefits that come with the card
Consider these extras by the value they add to purchases and experiences you already use.
2% cash back on all spending
Flat-rate cash back applies to all eligible purchases with no categories, caps, or spending tiers.
No foreign exchange fees
Wealthsimple does not charge FX fees on foreign currency purchases, reducing the typical ~2.5% fee charged by most Canadian cards.
No annual fee (with qualifying conditions)
Annual or monthly fees are waived if you maintain $100,000+ in assets with Wealthsimple or set up qualifying direct deposit.
Visa Infinite / Visa Infinite Privilege access
Eligible users may receive Visa Infinite or Visa Infinite Privilege status depending on income or assets, unlocking premium travel and lifestyle benefits.
Insurance coverage suite
Includes purchase protection, extended warranty, mobile device insurance (up to $1,000), and fraud protection under Visa Zero Liability.
Travel perks and concierge access
Includes airport lounge access (up to 1,200+ lounges for Privilege tier), travel insurance (medical, cancellation, baggage), and 24/7 concierge services.
Cash back flexibility
Cash back can be redeemed into eligible Wealthsimple accounts and may earn additional returns depending on account type.
App-based control and security
Users can lock/unlock card, view details, manage PIN, and control spending entirely within the Wealthsimple app.
Show all 9 benefitsShow fewer
Partner boosted cash back offers
Additional cash back available at select merchants when activated through in-app partner offers.
Protection included
Insurance at a glance
No included coverage is verified in ClearFin's current catalogue.
Insurance is not currently listed for this product.
This does not prove that coverage is unavailable. Confirm the issuer's current certificate and benefit guide before relying on protection.
Check the official card page ↗The verdict
What we like
- Flat 2% cash back on all purchases with no categories, caps, or spending tiers
- No foreign transaction fees, eliminating the typical 2.5% FX charge on international spending
- Strong premium ecosystem potential (Visa Infinite / Infinite Privilege tiering with travel insurance, lounge access, concierge, and protections)
Worth noting
- Eligibility is gated by Wealthsimple ecosystem (must have chequing account and pass internal tiering)
- Premium benefits are conditional on high income or high assets ($80K–$150K+ income or $400K assets), limiting accessibility
- Monthly fee applies for non-qualifying users, making it less attractive without meeting Wealthsimple thresholds
ClearFin analysis
Our detailed review
A practical reading of where the card earns, what the fee buys, and which limits matter.
💸 2% Everything
2% cashback on everything. No FX fees. Earn competitive interest on your cashback. Fee waived with $100K+ or qualifying paycheque deposit.
How the rewards work
Dining, Groceries, Gas, Travel, Everything else receive the strongest estimated return at 2.0%. Purchases outside the accelerated categories earn an estimated 2.0%.
What the annual cost means
Using the strongest estimated category return alone, roughly $12,000 in annual spending at that rate would equal the $240 fee before considering the value of insurance, partner benefits, or a welcome offer.
Who it may suit
This card is most relevant for someone who spends consistently on dining and groceries and can use enough of the included value to justify the yearly cost.
What to examine before applying
Compare the purchase interest rate, foreign-transaction fee, approval requirements, reward limits, and insurance certificates. Pay particular attention to merchant-category rules because a store may not receive the reward rate its products appear to suggest.
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Issuer terms apply. ClearFin is not affiliated with this provider. How we make money. Card facts were checked against the issuer's official source. The issuer's current catalogue was checked. Any field not explicitly listed remains marked as unverified rather than estimated.