Wealthsimple Credit Card
VISAGreat for travel abroad
Wealthsimple Credit Card
7.1Canada Cards ScoreVery goodWhy get this card
- ✓Earn 2% on all purchases
- ✓No foreign transaction fees
- ✓9 insurance coverages
Pros
- +No foreign transaction fee
- +9 insurance coverages
Cons
- -Steep $240 annual fee
Earn rates
- all_purchases2%
2% cash back on all spending. Does not apply to cash-like transactions, refunds, or applicable fees and adjustments.
Welcome offer
No welcome offer captured.
Fees
- Annual fee
- $240
- Additional card
- —
- Foreign transaction fee
- None
Charged as $20/month if you have under $100,000 in assets with Wealthsimple (Quebec clients charged annually). Fee waived with $100K+ in assets or a qualifying paycheque direct deposit of $4,000 or more per month to a Wealthsimple chequing account. No FX fees, though the payment network still applies a currency conversion rate.
Interest rates
- Purchase APR
- 20.99%
- Cash advance APR
- 22.99%
- Balance transfer APR
- —
- Grace period
- —
- Rate effective date
- —
Benefits & insurance
- Lounge access
- Visa Infinite Privilege airport lounge access
- Insurance coverages
- 9
- Purchase protection against loss, theft, or damage for 90 days
- Phone insurance covering repair or replacement up to $1,000
- Extended warranty doubling the manufacturer's repair period
- Emergency medical insurance
- Trip cancellation insurance
- Delayed and lost baggage insurance
- Car rental collision and loss damage (Visa Infinite Privilege)
- Up to $1,000 coverage for flight delays over 3 hours
- Visa Zero Liability fraud protection
Redemption & eligibility
- Reward currency
- cash back
- Redemption options
- Redeem to almost any Wealthsimple account, Earn up to 2.25% interest on your cash back
- Transfer partners
- —
- Min. personal income
- —
- Min. household income
- —
Credit check required. Canada's only Visa Infinite Privilege cash back card.
How we scored it
7.1Very good- Everyday earn rateWeight 30
2% on all_purchases
- Welcome valueWeight 25
No current welcome offer
- Annual-fee valueWeight 20
$240 annual fee
- Benefits depthWeight 15
9 insurance coverages, no FX fee
- Interest costWeight 10
20.99% purchase APR
Our editorial rating, computed only from sourced figures. See the full methodology.
Compare with similar cards
Learn before you apply
Frequently asked
- Is the Wealthsimple Credit Card worth it?
- It carries a $240 annual fee. Earn 2% on all purchases. Compare it against similar cards below before deciding.
- What is the annual fee and interest rate on the Wealthsimple Credit Card?
- The annual fee is $240. The purchase interest rate is 20.99% and the cash advance rate is 22.99%. These are sourced from Wealthsimple's official page.
- What rewards does the Wealthsimple Credit Card earn?
- It earns up to 2% on all purchases, in cash back. See the full earn-rate breakdown above.
- Does the Wealthsimple Credit Card charge foreign transaction fees?
- Yes, it charges a 0% foreign transaction fee on purchases made outside Canada. See no-foreign-transaction-fee cards if you travel or shop internationally.
More ways to compare
Official sources
Every figure on this page comes from Wealthsimple's own pages. Last checked 2026-06-13.
- Product page: https://www.wealthsimple.com/en-ca/credit-card
- Application: https://app.wealthsimple.com/74rd/applycreditcard?locale=en-ca
- Terms & conditions: https://www.wealthsimple.com/en-ca/credit-card/rewards-terms-conditions
- Rewards program: https://www.wealthsimple.com/en-ca/credit-card/rewards-terms-conditions
Cited, never sponsored
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