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Wealthsimple

Wealthsimple Card

Full earn rates, fees and benefits for the Wealthsimple Card.

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Annual fee
$120
Reward type
Cash Back
Income required
$80,000

personal · or $150,000 household

Wealthsimple Card💸 2% Everything

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

Built-in perks & coverage

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.

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Partner boosted cash back offers

Additional cash back available at select merchants when activated through in-app partner offers.

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

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