Head to Head: TD First Class Travel Visa Infinite vs Wealthsimple Visa Infinite+ Card
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Here are two Visa Infinite credit cards built on two very different ideas:
Our answer: the TD First Class Travel card suits most readers, especially in the first year, thanks to its bonus of up to 160,000 points and its insurance. The Wealthsimple Visa Infinite+ comes out ahead if you already hold $100,000 at Wealthsimple or have your pay deposited there.
The TD card is a classic travel card: a $139 annual fee, TD Rewards points, comprehensive insurance and a large welcome offer. The Wealthsimple card instead pays 2% cash back on everything, charges no foreign transaction fees, and its annual fee drops to zero if you hold enough assets at Wealthsimple or have your pay deposited there. So the TD First Class Travel vs Wealthsimple matchup comes down to one simple question: are you already a Wealthsimple client? For other matchups, our Wealthsimple vs Scotiabank Passport and TD First Class Travel vs Scotiabank Passport comparisons round out the analysis.
We base our analysis on the major differences between these two credit cards:
- Annual fees: $139 rebated in year 1 at TD, versus $240 waived only with an asset or direct deposit threshold at Wealthsimple
- Welcome offer: up to 160,000 TD Rewards points versus boosted 5% cash back for 35 days, by invitation
- Earning: bonus categories at TD, 2% everywhere at Wealthsimple
- Redemption: points worth 0.5¢ on Expedia For TD, versus cash back
- Insurance and lounges: more complete travel coverage and 4 lounge visits with TD
The comparison table
Here are the two cards side by side. We then break down each item.
| Feature | TD First Class Travel® Visa Infinite* Card | Wealthsimple Visa Infinite+ Card |
|---|---|---|
| Annual fee | $139, rebated in year 1 | $240 ($20/month; $220 in year 1 in Quebec), waived with at least $100,000 in net deposits or assets under management, or $4,000/month in direct deposit |
| Income requirement | $60,000 personal or $100,000 household | $80,000 personal or $150,000 household |
| Welcome offer | Up to 160,000 TD Rewards points | Up to $500 cash back, by invitation (5% on $10,000 within 35 days) |
| Earn rates | 8 pts Expedia For TD, 6 pts groceries/restaurants/transit, 4 pts bills, 2 pts elsewhere | 2% on everything, no cap |
| Reward value | 0.5¢ per point on Expedia For TD | Cash back, $1 = $1 |
| Foreign transaction fee | 2.5% | None |
| Emergency medical | $2,000,000, 21 days (4 days from 65) | $1,000,000, 14 days, under 65 |
| Airport lounges | 4 visits per year | No visits included |
| Purchase interest rate | 21.99% | 20.99% |
Annual fees and the asset threshold
This is the heart of the matchup. The Wealthsimple card carries a $240 annual fee, billed at $20 per month. Quebec residents pay the annual amount in a single payment instead: $220 the first year, then $240, with a prorated refund as soon as you reach the threshold.
The fee disappears in two cases:
- Assets: you hold at least $100,000 in net deposits or assets under management at Wealthsimple, per person;
- Direct deposit: you receive at least $4,000 per month by direct deposit into your Wealthsimple chequing account, which usually means a transferred paycheque.
If you no longer meet either condition, Wealthsimple goes back to charging $20 per month. To apply, you also need an active Wealthsimple chequing account, and the balance can only be paid from that account.
The TD First Class Travel® Visa Infinite* Card costs $139 per year, with no asset condition. TD rebates the fee for the first year for the primary cardholder, provided you activate the card and make a first purchase within 3 months of account opening. The first additional card costs $50.
In other words, the Wealthsimple card is free for its established clients, and more expensive than the TD card for everyone else.
Welcome offer
TD pays a points bonus, while Wealthsimple pays boosted cash back for five weeks, by invitation.
The TD First Class Travel® Visa Infinite* Card offers up to 160,000 TD Rewards points, plus the first-year fee rebate:
- 20,000 points on your first purchase with the card;
- 140,000 points after $7,500 in purchases within 180 days of account opening.
At Milesopedia's valuation of 0.5¢ per point, these 160,000 points are worth about $800.
The Wealthsimple Visa Infinite+ Card offers, by invitation and to new Wealthsimple clients only, up to $500 in cash back:
- 5% cash back, made up of 2% base and a 3% boost, on the first $10,000 in net purchases;
- during the 35 days following approval;
- the card must remain open for 180 days after the boost period.
The boost itself is therefore worth at most $300, and only if you spend $10,000 in five weeks. To qualify, you must receive an invitation by email or in the Wealthsimple app, have never held a Wealthsimple credit card, and be approved within 30 days of the invitation.
Earning points and cash back
The TD card rewards certain categories with large multipliers. The Wealthsimple card applies the same rate everywhere.
Each card's earn rates
The TD First Class Travel® Visa Infinite* Card earns TD Rewards points:
- 8 points per dollar on bookings made through Expedia® For TD;
- 6 points per dollar on groceries, restaurants and public transit;
- 4 points per dollar on recurring bill payments, streaming, gaming and digital media;
- 2 points per dollar on all other purchases.
The 6-point and 4-point categories are each capped at $25,000 in purchases per year; beyond that, the rate drops to 2 points per dollar. Purchases through Expedia For TD, at 8 points, are not capped.
The Wealthsimple Visa Infinite+ Card pays 2% cash back on all purchases, with no categories and no cap. You can redeem the cash back at any time into your Wealthsimple chequing, TFSA, RRSP or non-registered accounts.
The real return per dollar
Here is the return in cents per dollar, at our valuation of 0.5¢ per TD Rewards point. For foreign currency purchases, we subtract the TD card's 2.5% foreign transaction fee.
| Spending type | TD First Class Travel® Visa Infinite* Card (0.5¢ per point) | Wealthsimple Visa Infinite+ Card |
|---|---|---|
| Expedia For TD | 8 pts/$, or 4.0¢/$ | 2%, or 2.0¢/$ |
| Groceries, restaurants, public transit | 6 pts/$, or 3.0¢/$ | 2%, or 2.0¢/$ |
| Recurring bills and streaming | 4 pts/$, or 2.0¢/$ | 2%, or 2.0¢/$ |
| Gas, pharmacy and other purchases | 2 pts/$, or 1.0¢/$ | 2%, or 2.0¢/$ |
| Foreign currency purchases | 2 pts/$ minus the 2.5% fee, or about -1.5¢/$ | 2%, no foreign transaction fee, or 2.0¢/$ |
TD wins on groceries, restaurants, public transit and Expedia For TD. Wealthsimple wins on gas, pharmacy, everyday purchases and especially abroad, where the TD card loses money once the foreign transaction fee is counted.
Redeeming points
Cash back is worth exactly what it says. A TD Rewards point, on the other hand, depends on how you use it.
On Expedia For TD, 200 points are worth $1 on a flight, hotel or package, hence our 0.5¢ valuation. Elsewhere, the value drops, for example to 0.33¢ per point on Amazon.ca through the Shop with Points program.
If you never book through Expedia For TD, Wealthsimple's cash back becomes much more attractive. The TD Rewards program page details every option.
A worked example over one year
Take a household that spends $30,000 per year on a single card:
- Groceries: $9,600, or $800 per month;
- Restaurants: $3,600;
- Gas: $2,400;
- Recurring bills and subscriptions: $2,400;
- Travel booked outside Expedia: $3,000;
- Other purchases: $9,000.
Here is what each card returns, from the second year on:
- TD card: 117,600 points, or $588, plus a $50 birthday bonus, minus the $139 fee, for about $499 net;
- Wealthsimple card, fee waived: 2% of $30,000, or $600 net;
- Wealthsimple card, fee paid: $600 minus $240, or $360 net.
With the fee waived, Wealthsimple therefore comes out about $100 ahead of TD on this profile. If you book $500 or more of travel through Expedia For TD, the $100 travel credit brings the two cards back to a tie. If $3,000 of those purchases are made in foreign currency, the TD card loses another $75 in foreign transaction fees, and the gap widens.
In the first year, the gap flips:
- TD card: about $1,388, thanks to the 160,000-point bonus and the rebated fee;
- Wealthsimple card, fee waived: about $690, with a boost of just under $90 on this budget, if you receive the invitation;
- Wealthsimple card, fee paid: about $450.
Income requirements
- TD card: personal income of $60,000 or household income of $100,000;
- Wealthsimple Visa Infinite+ card: personal income of at least $80,000 or household income of at least $150,000.
Before you apply, check that your income meets each issuer's threshold. The purchase interest rate is 21.99% at TD and 20.99% at Wealthsimple. Wealthsimple also states that the card is available in limited quantities.
Insurance
On protection, the TD card clearly comes out ahead, and you will notice it most when you travel.
| Insurance | TD First Class Travel® Visa Infinite* Card | Wealthsimple Visa Infinite+ Card |
|---|---|---|
| Emergency medical | $2,000,000, 21 days (4 days at 65 and over) | $1,000,000, 14 days, under 65 |
| Trip cancellation | $1,500 per person ($5,000 total) | $1,000 per person, $3,000 per trip |
| Trip interruption | $5,000 per person ($25,000 total) | $1,000 per person, $3,000 per trip |
| Delayed baggage | $1,000 combined with lost baggage | $500 |
| Lost baggage | $1,000 combined with delayed baggage | $750 ($1,000 combined with delayed baggage) |
| Flight delay | $500 per person (delay over 4 hours) | $1,000 per person per the certificate (the product page lists it only for the Privilege card) |
| Car rental | Coverage for up to 48 consecutive days | Not included |
| Travel accident | $500,000 | Not included |
| Hotel burglary | $2,500 | Not included |
| Mobile device | $1,000 | $1,000 |
| Purchase protection and extended warranty | 90 days and 1 year | 90 days and 1 year |
TD covers emergency medical up to $2,000,000 for 21 days, or 4 days from age 65. The Wealthsimple card covers $1,000,000 for the first 14 days of the trip, and only for insured persons under 65.
TD also offers car rental insurance, travel accident insurance and hotel burglary insurance, none of which come with the Wealthsimple Visa Infinite+. Finally, the Wealthsimple certificate states that its travel insurance (emergency medical, trip cancellation and interruption, baggage, flight delay) is not available to Quebec residents. The exact terms are in the insurance certificates from TD and Wealthsimple.
Annual perks and lounges
With the TD card, you get 4 free visits per year to more than 1,200 airport lounges through the Visa Airport Companion program. It adds a $100 travel credit on the first eligible travel purchase of $500 or more made through Expedia For TD in a calendar year, as well as a birthday bonus of up to 10,000 points.
The Wealthsimple Visa Infinite+ does not include lounge visits: Wealthsimple reserves lounge access for its Visa Infinite Privilege card. It focuses instead on no foreign transaction fees, a metal card for clients with more than $100,000 in assets, GigSky mobile data, concierge service and Visa Infinite benefits. It also lets you earn up to 2.25% interest on redeemed cash back.
The verdict by profile
No single answer fits everyone. Here are three distinct profiles.
The Wealthsimple investor
You already hold at least $100,000 at Wealthsimple, or your pay is deposited there. In that case, the Wealthsimple Visa Infinite+ Card costs you nothing and pays you 2% on everything, with no foreign transaction fees. Over time, it matches or beats the TD card, especially if you often shop in foreign currencies.
The traditional bank client
You have no assets at Wealthsimple and you don't plan to move your pay there. The TD First Class Travel® Visa Infinite* Card serves you better. It costs $101 less per year, its first year is free and its welcome offer is worth much more.
The traveller who wants complete insurance
You travel several times a year, sometimes for more than two weeks, and you want one card to cover you. The TD card wins: 21-day medical, car rental coverage, trip interruption up to $5,000 and 4 lounge visits per year.
Conclusion
So, which card wins this matchup? The TD First Class Travel® Visa Infinite* Card wins for most readers, especially in the first year. Its bonus of up to 160,000 points, rebated fee and insurance are hard to beat.
That said, the Wealthsimple Visa Infinite+ Card becomes excellent for clients who reach the asset threshold or have their pay deposited there. It then costs nothing, pays 2% on everything and eliminates foreign transaction fees.
Finally, the two cards complement each other well: TD for groceries, restaurants and covered travel, Wealthsimple for everyday and foreign purchases. To compare with the rest of the market, see our best credit cards page or our best no foreign transaction fee cards.
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Frequently Asked Questions
Here are our answers to the main questions about these two cards.
How much in assets do you need to avoid fees on the Wealthsimple card?
You need at least $100,000 in net deposits or assets under management at Wealthsimple, per person. The other option is to receive at least $4,000 per month by direct deposit into your Wealthsimple chequing account. Without one of these conditions, the card costs $20 per month, or $240 per year. Our review of the Wealthsimple cards covers all three versions.
Which card has the better welcome offer?
The TD First Class Travel® Visa Infinite* Card, by far. It offers up to 160,000 TD Rewards points, about $800 at Milesopedia's valuations, plus the first-year fee rebate. The Wealthsimple Visa Infinite+ Card offers, by invitation and to new clients only, up to $500 in cash back, including a $300 boost, provided you spend $10,000 within 35 days of approval.
Does Wealthsimple's 2% cash back beat TD Rewards points?
It depends on your spending. On groceries and restaurants, TD returns 3¢ per dollar, versus 2¢ for Wealthsimple. On everyday purchases, Wealthsimple returns 2¢ versus 1¢. And if you redeem your TD Rewards points anywhere other than Expedia For TD, their value drops, while Wealthsimple's cash back stays at 2%.
Which card is better for travelling abroad?
For foreign currency purchases, Wealthsimple wins: it charges no foreign transaction fees, while TD charges 2.5%. For travel protection, TD wins: 21-day medical, car rental coverage and 4 lounge visits per year. Many travellers put the ticket on the TD card and their spending on the ground on the Wealthsimple card. See our best no foreign transaction fee cards.
Which one requires the higher income?
The Wealthsimple card. It requires personal income of at least $80,000 or household income of at least $150,000. The TD card requires personal income of $60,000 or household income of $100,000.
Can you hold both cards at the same time?
Yes, since the two cards come from different issuers. Many readers keep the TD card for groceries, restaurants and travel coverage, then use the Wealthsimple card for everything else and for foreign purchases. Both welcome offers can be earned, as long as you meet the conditions of each.
Does the Wealthsimple card cover travel insurance in Quebec?
No. According to the card's insurance certificate, travel insurance (emergency medical, trip cancellation and interruption, baggage, flight delay) is not available to Quebec residents. If you live in Quebec, plan separate travel insurance with the Wealthsimple card.
Is Wealthsimple's $500 offer open to everyone?
No. Wealthsimple reserves it for new clients who receive an invitation, by email or in the app, and who have never held a Wealthsimple credit card. You must be approved within 30 days of the invitation, then keep the card open for 180 days after the boost period. Without an invitation, the card still pays 2% on your purchases.
