Wealthsimple Visa Infinite +* Credit Card
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Cash back
Card highlights
Annual fee
Number of perks & insurances
Ratehub’s review
Natasha Macmillan
The Wealthsimple Visa Infinite+ is a flat rate cash back credit card that is a great fit for Canadians who want a strong earn rate without having to keep track of spending categories. With unlimited 2% cash back on purchases, no foreign transaction fees, and the possibility of having the annual fee waived, the card offers particularly strong value for existing Wealthsimple clients and frequent travellers.
Pros
- Unlimited 2% cash back: Earn 2% cash back on all eligible purchases with no spending categories to track and no caps on how much you can earn
- No foreign transaction fees: Save the typical 2.5% foreign transaction fee on purchases made in other currencies, while continuing to earn 2% cash back
- Annual fee waiver: Have the $240 annual fee waived if you hold at least $100,000 in individual assets with Wealthsimple or deposit at least $4,000 per month into an eligible Wealthsimple Chequing account
- Travel and purchase insurance: Get coverage including up to $1 million in travel medical insurance, trip cancellation and interruption insurance, delayed and lost baggage insurance, mobile phone insurance and purchase protection
Cons
- Wealthsimple account required: You need an active Wealthsimple Chequing account to apply, making the card less accessible if you don’t already bank with Wealthsimple
- High annual fee: The card costs $240 per year if you don’t meet the requirements to have the fee waived, which is higher than many comparable cash back cards
- High income requirement: You’ll need a minimum personal income of $80,000 or household income of $150,000 to qualify
- No complimentary airport lounge access: The card does not include free airport lounge visits, a perk available with some other credit cards with similar annual fees
Rewards & bonuses
See what you could earn based on how you spend.
Earn rates
5%
On all spending for 35 days on the first $10,000 of net purchases*Up to $833 / month, then 2%
2%
On everything: no categories to track, no cap*
Monthly spending caps apply where shown. Rewards are earned on eligible purchases only, see the card’s terms for full details.
Your earning potential
First year reward
Based on spending $2,200/mo after $240 annual fee
Second year reward
Based on spending $2,200/mo after $240 annual fee
These numbers are based on estimations and the calculation breakdown below.
Adjust your spending
First year reward†
- If you spend $2,200/month, you’ll earn
- Annual fee
- First year reward
Second year reward†
- If you spend $2,200/month, you’ll earn
- Annual fee
- Second year reward
† Estimate calculated by Ratehub.ca and is based on current offers and a monthly spend of $2,200. It is for illustrative purposes only.
Perks & insurance
Perks and insurance coverage included with the card.
| Perks | Details | |
|---|---|---|
| Lounge access | Included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| No foreign exchange fees | Included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Extended warranty | Included | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Not included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
| Insurance | Details | |
|---|---|---|
| Travel accident insurance | Not included | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Not included | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | Included | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Not included | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
Details & eligibility
Fees
- Annual fee
- $240
Rates
- Purchase interest
- 20.99%
- Balance transfer rate
- N/A
- Cash advance rate
- 22.99%
Type
- Provider
- Wealthsimple
- Card type
- Cash back
- Payment network
- VISA
Eligibility
- Minimum personal income
- $80,000
- Minimum household income
- $150,000
- Minimum credit score
- N/A