My Wealthsimple Credit Card Review: Visa Infinite+

I did not get this card because I wanted another piece of metal in my wallet. I got it because our household could meet a fee-waiver path, I was already using Wealthsimple for more of our money, and a flat cash-back card fit the way I actually want rewards to work: quietly, without a spreadsheet of rotating categories or a pile of points waiting for the perfect redemption.

I do recommend Wealthsimple. More than 80% of my investment accounts have now moved there. That is a count of accounts, not a claim about a published percentage of our assets, and it did not happen because of one referral bonus or credit-card offer. The platform gradually became a better fit for how our household banks and invests.

I use the Wealthsimple Visa Infinite+ card. The travel and insurance benefits are welcome, but the features I notice every week are less glamorous: 2% on eligible purchases, cash back I can move back into investing once the transaction settles, auto-pay that reacts sensibly to refunds, and a virtual card I can tap from my phone without an issuer-set tap ceiling.

My recommendation has a firm boundary. If you can have the fee waived and you pay in full, this is an unusually clean card. If you pay the $20 monthly fee, carry a balance, or mainly want airline-transfer points, it deserves a much harder comparison.

The regular price is $20 per month, or $240 annually. The first month is currently waived outside Quebec, but that is not the same as a no-fee card. Under current terms, the ongoing fee is waived if you individually keep at least $100,000 in qualifying net deposits or assets under management at Wealthsimple, or if at least $4,000 of qualifying direct deposit reaches the linked chequing account every 30 days.

One small but important 2026 detail: being part of someone else's Premium or Generation household does not automatically waive the fee under the current public help page. The qualifying assets need to be individual, although joint-account assets can count under the detailed terms. Older household-based waivers may be honoured for existing clients, but I would not build a new application around a grandfathered exception.

At 2% cash back, you need $12,000 of annual eligible spending merely to earn $240, the size of the fee, before comparing the card with any free alternative. Against a no-fee 1% card, the extra 1% would require $24,000 of annual spend to recover a $240 fee. That is why I recommend it enthusiastically when the fee is waived and much more cautiously when it is not.

The standard reward is unlimited 2% cash back on eligible purchases. Cash-like transactions, refunds, fees, and adjustments are excluded. Unlike a points program, there is no conversion chart to decode and no minimum redemption threshold to wait for.

The part I like most is the speed and destination. Once a transaction settles and the final cash-back amount is available, I can manually redeem it in the app as often as I want and move it into an eligible Wealthsimple chequing, TFSA, RRSP, or non-registered account. I can put it back into investing instead of waiting for a monthly statement credit or a large points balance.

It is worth being precise: Wealthsimple changed to manual redemption in November 2025, so it does not sweep automatically. Pending purchases can still change, returns reverse the associated reward, and registered-account deposits use contribution room. I like the control, but I still need to tap Redeem and choose the right destination.

I use automatic balance payment because a rewards card only works for me if it never becomes an interest-bearing memory test. Wealthsimple lets you choose statement balance, total balance, minimum, custom amount, or pay-as-you-go, then schedule payments monthly, twice a month, every two weeks, before the due date, on the due date, or at the end of each day where available.

The detail I genuinely love is how it handles credits. If I make a manual payment or a merchant refund lands after the statement, the statement-balance or total-balance auto-pay recalculates and withdraws only what is still owed. If refunds or manual payments cover everything before the payment runs, it pulls nothing. The bill is actually smaller instead of creating an avoidable overpayment that I need to unwind later.

One-time payments from Wealthsimple chequing post to the card immediately, subject to the documented statement cutoff. The limitation is that card payments currently have to come from Wealthsimple chequing, so this convenience is strongest if that account is already part of your normal cash flow.

Wealthsimple says its virtual card has no issuer-set tap limit. You still need enough available credit, and a merchant can impose its own terminal limit, but the card itself does not force a low ceiling. Because phone tap is how I prefer to pay, this is not a novelty feature; it changes how often I need to hand over or insert the physical card.

Phone tap also adds a security layer. Apple says Apple Pay uses a device-specific account number and a transaction-specific dynamic security code after Face ID, Touch ID, or passcode authentication. The actual card number is not shared with the merchant. That does not make fraud impossible, but it reduces how often the real card number is exposed at a checkout.

That mattered to me in Brazil. I saw suspicious or unfamiliar authorization activity that looked like the kind of thing that makes you wonder about skimming, but it never became a loss or a physical-card replacement problem. I cannot prove Apple Pay was the reason, and an authorization attempt is not the same as a completed fraudulent charge. Still, the experience reinforced my preference: if a merchant accepts phone tap, I use it instead of presenting the physical card details.

I would make the same recommendation with any compatible card: use a reputable digital wallet, keep device authentication on, review notifications, lock the card quickly if something looks wrong, and do not treat tokenization as permission to stop checking transactions.

The Visa Infinite+ insurance package is useful without needing to turn the card into a personality. Wealthsimple's current summary lists up to $1 million of out-of-province emergency medical coverage, up to $1,000 per eligible person with a $3,000-per-trip cap for trip cancellation or interruption, up to $1,000 for delayed or lost baggage, and flight-delay coverage up to $1,000 with a $2,500 cap per occurrence.

Those are marketing-summary limits, not a promise that every claim qualifies. Coverage can depend on age, residency, trip length, how much of the trip was charged to the card, the cause of the loss, notice deadlines, and exclusions. Some travel coverages are not available to Quebec residents. I would read the actual certificate before paying for a trip on the assumption that a specific loss is covered.

The everyday protection layer includes purchase security for 90 days, mobile-device coverage up to $1,000, and extended warranty that can double an eligible manufacturer's warranty up to the stated limit. There is also 24/7 credit-card support and international collect-call access, which matters more on a bad travel day than it does on an ordinary Tuesday.

Beyond insurance, Wealthsimple lists 24/7 Visa Infinite concierge service, the Visa Infinite Dining Series, the Wine Country program, and access to a luxury hotel collection of more than 900 properties for Visa Infinite+. The card also advertises GigSky mobile-data plans and additional savings.

I treat all of that as optional upside, not part of the fee calculation. A perk only has value when I would have bought or used the thing anyway. Wealthsimple offers a separate Visa Infinite Privilege card with different lounge, rental-car, hotel, and dining benefits; those are not the card or experience this review is about.

The same rule applies to boosted merchant cash back. Wealthsimple periodically offers in-app merchant boosts, some requiring activation and a specific in-app affiliate link. Those partners and expiry dates change, so the rewards centre is the source of truth. I do not assign permanent value to a rotating partner list.

The current 5% welcome offer is invitation-only. Eligible Wealthsimple clients who receive an in-app or email invitation, apply, and are approved within 30 days get an extra 3% on top of the standard 2% for the first 30 days after approval. The boost applies to the first $10,000 of eligible net purchases, so the maximum promotional increment is $300 and the maximum total at 5% is $500.

The promotion started January 26, 2026 and the published terms do not list a fixed end date. It can change or disappear. Cash-like transactions, gift cards, refunds, fees, and adjustments are excluded, and the card must remain open for 180 days after the boosted period or Wealthsimple may recover the extra 3%.

Referral code EHJW9W does not create that invitation. The standard referral and card promotion may be combinable where both sets of terms allow it, but you need to qualify for each independently. I would never plan a purchase around the 5% until the offer is visible in my own account.

I would recommend this card to a Canadian adult who can meet a current fee-waiver route, already wants Wealthsimple chequing in the household system, pays every statement in full, and values simple cash over travel-point optimization. It becomes especially appealing if you use foreign-currency purchases because Wealthsimple does not add its own FX fee, though Visa's conversion rate still applies.

I would also recommend it to someone who will use the product details: phone tap, transaction notifications, immediate chequing-to-card payments, auto-pay that adjusts for credits, and frequent small cash-back redemptions into investing. Those features make the card feel integrated rather than bolted onto a brokerage account.

I would not recommend it merely because '2%' sounds large or the Visa name sounds important. If you pay the fee, carry a balance, spend mostly in bonus categories that another card rewards at 3%–5%, or convert airline points well, another setup may win. The best card is the one whose fee, rewards, protections, and payment habits fit how you already spend.

The Visa Infinite+ benefits make the package more useful, but they are not why I reach for it. I reach for it because phone tap is easy, cash back is understandable, settled rewards can go back to work, and auto-pay gets the amount right after refunds and credits are accounted for.

That is a very Wealthsimple kind of advantage: the pieces live together. The same integration can also be a drawback if you do not want your chequing, card, and investing in one ecosystem. For our household, the convenience is worth it because the fee is waived and the accounts were already there.

So my recommendation is enthusiastic but conditional: waive the fee, pay in full, use the protections properly, and treat the 5% offer as temporary upside rather than the reason to keep the card.