The fee is the whole question
The card lists a $240 annual fee, billed as $20 a month. That fee is waived automatically if you are a Wealthsimple Premium client ($100,000 or more in Wealthsimple assets) or a Generation client, or if you direct-deposit at least $4,000 a month into a Wealthsimple chequing account. For anyone who meets one of those conditions, the card is effectively free and the 2% cash back is pure upside. For anyone who does not, the $240 fee swallows most of the cash back on moderate spending, so the math only works at high spend or with the waiver.
Earn rate
Cash back is a flat 2% on all eligible purchases, with no categories and no caps. It deposits directly into a Wealthsimple account.
| Spending category | Cash back rate | Value per $100 spent |
|---|---|---|
| All purchases | 2% | $2.00 |
A flat 2% with no category tracking is a strong base rate. The value depends on the fee: free of the $20 monthly charge, the full 2% is yours; paying it, the effective return drops on lower spend. Cash back deposits to a Wealthsimple account (chequing, TFSA, RRSP, or non-registered) and is not transferable to airline or hotel programs.
No foreign transaction fees
The card charges no foreign transaction fee on purchases made in a non-Canadian currency. Most Canadian cards add 2.5% on every international transaction. On $10,000 of annual foreign-currency spending, eliminating that fee saves $250, and you still earn the full 2% cash back on those purchases. For a traveller, the no-FX benefit stacked on a flat 2% means foreign spending comes out net positive rather than net negative.
How it compares to the Privilege version
Wealthsimple offers two versions of this card. Both earn the same flat 2% cash back, carry the same $20 monthly fee with the same waiver conditions, and charge no foreign transaction fees. The differences are the eligibility bar and one benefit: the standard Visa Infinite requires $80,000 personal or $150,000 household income, while the Visa Infinite Privilege requires $150,000 personal or $200,000 household income and adds airport lounge access through the Visa Airport Companion program (DragonPass). If you do not need the lounge visits, the standard Visa Infinite delivers the same cash back and FX benefit at a lower income bar.
Visa Infinite benefits
The card carries the standard Visa Infinite benefit package, provided by Visa rather than Wealthsimple, so it applies uniformly at this tier:
| Benefit | Details |
|---|---|
| Visa Infinite Concierge | Concierge service for travel booking, dining reservations, and general assistance. |
| Visa Infinite Hotel Collection | Preferred rates, room upgrades when available, and added amenities at partner hotels. |
| Visa Infinite Dining Series | Access to curated culinary events and experiences through Visa’s dining program. |
| Mobile device insurance | Up to $1,000 in coverage for a mobile device against loss, theft, or damage. |
Airport lounge access is not included on the standard Visa Infinite; it is the defining add-on of the Visa Infinite Privilege version.
Travel insurance on the Wealthsimple Visa Infinite
The Wealthsimple Visa Infinite scores 44 of 100 on the figures its certificate publishes, 35th of the 59 Canadian cards compared. Emergency medical is capped at $1,000,000 for trips up to 14 days.
| Emergency medical | $1,000,000 · age 0–64: 14 days |
|---|---|
| Trip cancellation | $1,000 per person · $3,000 per account |
| Trip interruption | $1,000 per person · $3,000 per account |
| Flight or trip delay | $1,000 per person · after 3 hours · $2,500 per trip |
| Baggage delay | $500 per person |
You have 30 days from the incident to report a claim. Dependent children are covered to age 21.
Every figure from the certificate, with its own wording
| Emergency medical | limit: $1,000,000 (in excess of any Government Health Insurance Plan and any Other Insurance) age 0–64: 14 days |
|---|---|
| Trip cancellation | per person: $1,000 per account: $3,000 (aggregate per Covered Trip) covered reasons: Your, Your Immediate Family Member’s, Your Travelling Companion’s or Your Travelling Companion’s Immediate Family Member’s unexpected death, sickness or injury. (first of nine enumerated Covered Causes for Cancellation, A through I; enumeration truncated at the 40-word cap) |
| Trip interruption | per person: $1,000 per account: $3,000 (aggregate per Covered Trip) |
| Flight or trip delay | per person: $1,000 (for hotel accommodation, restaurant meals, refreshments, Emergency Purchases and other Sundry Items, for a maximum of forty-eight (48) hours) trigger hours: 3 hours (three (3) hours after scheduled departure for a delayed flight or denied boarding; three (3) hours after arrival at the connecting point for a missed connection) per trip cap: $2,500 (aggregate per any one occurrence of missed connection, denied boarding and flight departure delay) |
| Baggage delay | per person: $500 (for Emergency Purchases; total payable for both delayed and lost or damaged Checked Baggage is $1,000) |
| Lost, stolen or damaged baggage | per person: $750 (total payable for both delayed and lost or damaged Checked Baggage is $1,000) |
| Emergency travel assistance | offered: Yes (Chubb Travel Assistance at 1-833-654-1253 toll-free or 514-285-0187 local-collect) |
| Purchase protection | days: 90 days (from the date of purchase, anywhere in the world, without registration) limit per item: $1,000 (per occurrence) limit per year: $10,000 (maximum total limit of liability per Cardholder for Purchase Security and Extended Warranty claims in respect of all Cards held; the certificate does not state a period) |
| Extended warranty | cap: $10,000 (maximum total limit of liability per Cardholder for Purchase Security and Extended Warranty claims in respect of all Cards held) |
| Mobile device | limit: $1,000 (per claim, maximum two (2) claims per twelve (12) month period) deductible: $50 (per claim) requires full charge: Yes (the entire monthly cellular service provider bill for the billing cycle before the month of the incident must be charged to the Card) eligible events: Mobile Phone Insurance provides coverage for damage to or theft of Your Mobile Phone. |
Figures above are from the Certificates of Insurance, Wealthsimple Visa Infinite 2% and Visa Infinite Plus Card (Chubb), effective 2026-06-01, underwritten by Chubb Insurance Company of Canada. Checked against the certificate for 13 coverage types. Terms change without notice; verify with the issuer before relying on any figure.
What the earn math looks like
A cardholder spending $2,500 per month at a flat 2%:
| Spend | Rate | Cash back / month | Cash back / year |
|---|---|---|---|
| $2,500 / month | 2% | $50 | $600 |
$600 a year in cash back at this spend level. With the fee waived, that is the full net value, a clean 2% return. Without the waiver, the $240 fee cuts it to $360 net, or about a 1.2% effective return, which a no-fee 2% card or a strong category card would beat. The card’s case rests entirely on clearing the fee through Premium or Generation status or the direct-deposit condition.
Good fit if
- You are a Wealthsimple Premium or Generation client, or direct-deposit $4,000 a month, so the $20 monthly fee is waived and the 2% is free.
- You want a flat 2% on everything with no categories to track, plus no foreign transaction fees on international spend.
- You like cash back deposited straight to a Wealthsimple account, where it can be invested or spent without a redemption portal.
If that describes you, apply for the Wealthsimple Visa Infinite. Not sure yet? Book a free conversation and we will walk through it together.
Less useful if
- You cannot clear the $20 monthly fee: paying it drops the effective return below what a no-fee 2% card returns.
- You want airport lounge access: that is on the Visa Infinite Privilege version, not the standard card.
- You want transferable travel points: cash back deposited to Wealthsimple does not convert to Aeroplan, Avios, or any airline or hotel program.