Wealthsimple Set to Launch a Visa Infinite Credit Card in Canada

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To the point Wealthsimple is beta-testing its new Visa Infinite credit card. It offers 2% cashback on almost all purchases, no foreign conversion fees, purchase insurance, and is free for Advantage and Generation members.

The Wealthsimple Visa Infinite card is only available to a limited and random group of customers as part of the beta launch. It is currently unavailable in Quebec.

A New Wealthsimple Visa Infinite Card

Exciting news! Wealthsimple will be launching its first true credit card: the Wealthsimple Visa Infinite card. Let’s take a look at what’s been announced so far about this new product.

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Wealthsimple Visa Infinite - Benefits

The future Wealthsimple Visa Infinite card will offer a number of attractive benefits for travel and day-to-day spending. Here are just a few of the features unveiled:

  • No conversion fees for foreign currency transactions
  • 2% cash back on all eligible expenses, with no cap
  • Mobile device insurance, purchase insurance and extended warranty
  • $10 monthly fee or free for Advantage and Generation customers
  • Access to a range of Visa Infinite benefits

The card will also be no-fee for Wealthsimple customers who use their checking account for direct deposits, such as payroll, and who deposit at least $2,000 monthly.

Cash back will be deposited into your Wealthsimple Cash account every month. You need to open one if you are not already a customer.

This is also the case for making payments to this credit card: you have to pay off your balance from your Wealthsimple Cash account. You cannot pay from another bank at this time.

Wealthsimple Visa Infinite - Eligibility Criteria

For the time being, the card is only available to a restricted group of customers for the beta phase. The customers concerned have received an invitation by e-mail.

The income eligibility criteria are as follows:

  • $60,000 personal income or;
  • $100,000 family income.

Other Wealthsimple Products

Wealthsimple is one of the best online investment platforms in Canada. The company offers a wide variety of investments such as registered accounts, non-registered accounts, cryptocurrency, self-directed investments, a current account and more.

Read our Review on Wealthsimple and their complete product list in this article:

Bottom Line

The Wealthsimple Visa Infinite credit card is shaping up to be a very promising option for cash back enthusiasts and travellers alike. With benefits such as no foreign currency conversion fees, 2% cash back on almost all purchases and a range of insurances, it’s a product worth keeping an eye on.

Still in its beta phase, this card is not yet available to the public. Stay tuned!

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Alexandrine Bertrand

Alexandrine Bertrand

Alexandrine Bertrand
An avid solo traveller, Alexandrine is an expert on loyalty programmes such as Aeroplan, Avios, AIR MILES, Flying Blue and Marriott Bonvoy. With a budget-conscious approach, she helps travellers make the most of their points and miles to experience affordable, off-the-beaten-path getaways. She also shares a love of gastronomy and enjoys exploring local flavours and culinary traditions.
All posts by Alexandrine Bertrand

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