【October 2026 update】 Wealthsimple has adjusted the welcome-offer details: 5% cash back on spending in the first 35 days, still capped at $500 back on $10,000 of spending.

Highlights

  • Enter a higher income at application and you can land this VIP version
  • A VIP card with a path to a waived annual fee
  • No currency-conversion or foreign-transaction fees, and 2% cash back on all spending
  • Travel perks (6 airport lounge visits) plus a useful set of travel insurance

Who is this card for? This card is best for applicants who meet the VIP income threshold, can qualify for the annual-fee waiver, and travel enough to use six airport-lounge visits each year. The main value is 2% cash back on all spending, no foreign transaction fees, and travel insurance; if you cannot meet the fee-waiver conditions or rarely travel, the $240 annual fee needs careful consideration.

Wealthsimple Visa Infinite Privilege credit card

Issuer: Wealthsimple
Network: Visa
Card type: Credit card
Annual fee: $240, billed at $20 a month, with a path to a waived fee

No foreign-transaction or currency-conversion fees

Premium and above clients pay no annual fee. Regular clients can waive it with at least $4,000 in monthly direct deposits.

Further reading: 🇨🇦 Visa Infinite Privilege overview

Welcome offer

【October 2026 update】 Use the referral link🔗 (or enter code IBVGUG) to open a Wealthsimple account and apply for the credit card:

  • Open a Wealthsimple account and fund it to get $25
  • Apply for the credit card and earn 5% cash back on the first $10,000 spent in the first 35 days

Wealthsimple referral offer screenshot

Screenshot

Application bar: $150,000 personal income or $200,000 household income (if you are invited and enter income at that bar, you are automatically placed on the VIP version)

Everyday spending

2% on all purchases

Perks and insurance

  • Airport lounge access

Visa Airport Companion Program, 6 visits a year

Further reading: 🇨🇦 Canadian credit cards — airport lounge perks roundup

  • On top of the global complimentary data from Visa’s GigSky partnership, this card adds another 10 GB for 15 days

Further reading: What is GigSky? A credit-card perk: free global eSIM roaming explained (2026 edition)

  • Hotel enhancements: Access Relais & Châteaux properties through Visa RSVP Rewards.

Further reading: RSVP Rewards explained: 🇨🇦 the lesser-known Sandman / Sutton Place hotel program

  • Enhanced dining reservations: Access prime-time reservations at top restaurants through OpenTable.

Travel Insurance

  • Out-of-Province/Country Emergency Medical Insurance
Under 65, 14 days. Tap for details

Cardholders under 65 and their families are covered for the first 14 days of travel outside their home province or country, with up to $2,000,000 for emergency medical expenses. Emergency dental coverage is up to $2,000 for an accident or $200 for pain; return of a deceased traveller is up to $5,000; and additional hotel and meal expenses are up to $150 per day, to a maximum of $1,500. Quebec residents are not eligible.

  • Trip Cancellation Insurance
Limit $5,000. Tap for details

If a covered illness or injury, jury duty, natural disaster, travel advisory, or other eligible reason causes you to cancel your trip, the full trip cost must be charged to this card. Coverage is up to $1,500 per person and $5,000 per trip. Quebec residents are not eligible.

  • Trip Interruption Insurance
Limit $5,000. Tap for details

If a covered illness or injury, jury duty, natural disaster, travel advisory, or other eligible reason interrupts your trip, the full trip cost must be charged to this card. Coverage is up to $1,500 per person and $5,000 per trip. Quebec residents are not eligible.

  • Delayed Baggage Insurance
6 hours. Tap for details

If baggage is delayed for more than 6 hours, emergency purchases are covered up to $1,000. The full airline ticket cost must be charged to this card, and emergency purchases must be made within 96 hours. Quebec residents are not eligible.

  • Lost or Damaged Baggage Insurance
Combined limit $1,250. Tap for details

If baggage is lost or damaged, emergency purchases are covered up to $1,000, with a maximum combined limit of $1,250 when combined with delayed-baggage coverage. The full airline ticket cost must be charged to this card. Quebec residents are not eligible.

  • Car Rental Collision/Loss Damage Insurance
31 days. Tap for details

This benefit covers damage or theft of a rental car for up to 31 consecutive days, with a maximum vehicle MSRP of $65,000.

Purchase Insurance

  • Purchase Security

New items purchased with this card are covered against loss, theft, or damage for 90 days, up to $1,000 per occurrence and $10,000 total per cardholder.

  • Extended Warranty Protection

The manufacturer’s repair-warranty period is doubled, up to an additional year.

  • Mobile Phone Insurance

When you pay your monthly phone bill with this card, theft or damage to the phone is covered up to $1,000 per claim, with a $50 deductible and a maximum of 2 claims per 12-month period. You must continue paying the monthly bill with this card to qualify.