Head to Head: Wealthsimple Visa Infinite+ vs National Bank World Elite Mastercard
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Here are two premium credit cards that appeal to the same people, especially in Quebec:
Yet they play very different games. The Wealthsimple card pays 2% cash back on everything and charges no foreign transaction fees, but its annual fee depends on how much you hold at Wealthsimple. The National Bank card costs a flat $150 and makes up for it with boosted points on groceries, a travel credit and a lounge at Montreal-Trudeau. This Wealthsimple vs National Bank World Elite comparison works out the point at which the Wealthsimple card truly becomes free. To widen your search, see our list of the best credit cards in Canada or our Wealthsimple vs Scotiabank Passport head-to-head.
The figures in this comparison come from our card database and from the official Wealthsimple and National Bank websites, as of October 20, 2026.
The comparison table
Here are both cards side by side. We then go through each item in detail.
| Feature | Wealthsimple Visa Infinite+ Card | National Bank World Elite Mastercard |
|---|---|---|
| Annual fee | $240 ($20 a month), waived with $100,000 in assets or a payroll deposit of at least $4,000 a month | $150, refunded in year one (Milesopedia offer until November 4, 2026) |
| Income required | $80,000 personal or $150,000 household | $80,000 personal or $150,000 household |
| Welcome offer | 5% on the first $10,000 in purchases within 35 days (up to $500, including a $300 boost) | First-year fee refunded ($150) |
| Rewards | 2% cash back on everything | 5 pts/$ on groceries and restaurants ($2,500 monthly threshold); 2 pts/$ on gas, recurring bills, À la carte Travel; 1 pt/$ elsewhere |
| Foreign transaction fee | None | 2.5% |
| Annual travel credit | None | Up to $150 |
| Airport lounges | No access included | National Bank Lounge at YUL, free and unlimited |
| Medical insurance | $1,000,000, 14 days, under 65; not available to Quebec residents | $5,000,000, 60 days for ages 54 and under |
| Car rental insurance | Not included | Up to 48 days |
| Interest rates (purchases / cash advances) | 20.99% / 22.99% | 20.99% / 22.49% |
Annual fee: the $100,000 threshold
This is the heart of the matchup. The Wealthsimple Visa Infinite+ Card costs $20 a month, or $240 a year. In Quebec, Wealthsimple charges the fee once a year. The fee drops to zero if you meet either of these two conditions:
- Assets: hold at least $100,000 in individual assets at Wealthsimple;
- Payroll: set up a direct deposit of at least $4,000 a month into your Wealthsimple chequing account.
The threshold is all or nothing: just under the $100,000 asset mark, with no payroll deposit, you pay the full fee.
At 2% cash back, you need to charge $12,000 in purchases just to earn the fee back. For a household that spends twice that, half of the cash back goes to paying for the card.
The National Bank World Elite Mastercard costs $150 a year. However, it reimburses travel expenses up to the same amount each year, which offsets the fee if you use that credit.
Welcome offer
The Wealthsimple Visa Infinite+ Card boosts cash back to 5% on the first $10,000 in net purchases made within 35 days of approval, or 3 percentage points above the base rate. The boost is therefore worth up to $300. The card must stay open for 180 days after the boosted period.
The National Bank World Elite Mastercard, for its part, has an offer exclusive to the Milesopedia network: your first-year annual fee ($150) is refunded. The credit appears on your statement within five months of opening. To qualify, you must not have held a National Bank personal Mastercard credit card as primary cardholder in the past 24 months.
Income and eligibility
Both cards require the same income: $80,000 personal or $150,000 household.
Wealthsimple adds a few conditions specific to its model:
- Chequing account: you must have an active Wealthsimple chequing account;
- Payments: the card balance can only be paid from that chequing account;
- Availability: Wealthsimple notes that the card is available in limited quantities.
Both cards charge the same purchase interest rate, 20.99%. Cash advances cost slightly more at Wealthsimple.
Earning and real return
Two approaches
The Wealthsimple Visa Infinite+ Card pays 2% cash back on every purchase, with no categories and no cap. You can deposit your cash back into almost any Wealthsimple account.
The National Bank World Elite Mastercard earns À la carte points:
- 5 points per dollar on groceries and restaurants;
- 2 points per dollar on gas and EV charging;
- 2 points per dollar on recurring bills;
- 2 points per dollar on trips booked through À la carte Travel;
- 1 point per dollar on everything else.
The 5-points-per-dollar rate only applies within the first $2,500 in gross monthly purchases, all categories combined. Beyond that, groceries and restaurants earn 2 points per dollar.
Real return per dollar
Milesopedia values the À la carte point at 0.9¢. Through the À la carte Travel agency, 10,000 points give you $100 off a trip, or 1¢ per point. Here is the return in cents per dollar spent.
| Spending category | Wealthsimple Visa Infinite+ Card | National Bank World Elite Mastercard |
|---|---|---|
| Groceries and restaurants, under the $2,500 monthly threshold | 2¢/$ | 5 pts/$, or 4.5¢/$ |
| Groceries and restaurants, above the threshold | 2¢/$ | 2 pts/$, or 1.8¢/$ |
| Gas and EV charging | 2¢/$ | 2 pts/$, or 1.8¢/$ |
| Recurring bills | 2¢/$ | 2 pts/$, or 1.8¢/$ |
| Travel | 2¢/$ | 2 pts/$ through À la carte Travel, or 1.8¢/$; 1 pt/$ elsewhere, or 0.9¢/$ |
| All other purchases | 2¢/$ | 1 pt/$, or 0.9¢/$ |
| Foreign currency purchases | 2¢/$, no foreign transaction fee | Category return, minus a 2.5% foreign transaction fee |
National Bank only wins clearly on groceries and dining. Everywhere else, Wealthsimple's 2% does better, and the gap widens on non-bonus purchases.
Foreign currency purchases
This item can flip the result. The Wealthsimple Visa Infinite+ Card charges no foreign transaction fees. The National Bank World Elite Mastercard charges 2.5% on every purchase in a foreign currency. So $1,000 spent abroad costs $25 in fees on the National Bank card and nothing on the Wealthsimple card. Our ranking of the best no foreign transaction fee cards lists other options.
A one-year example
Take a household that charges $24,000 a year to its card, split as follows:
- Groceries and restaurants: $6,000
- Gas and EV charging: $3,000
- Recurring bills: $3,000
- Travel booked directly: $3,000
- Other purchases: $9,000
That household spends about $2,000 a month, so it stays under National Bank's monthly threshold. Here is its estimated net gain:
- Wealthsimple, fee waived: $480 in cash back, no fee, for $480
- Wealthsimple, fee paid: $480 in cash back, minus the $240 fee, for $240
- National Bank World Elite, every year: 54,000 points (about $486), plus the $150 travel credit, minus the $150 fee, for about $486
- National Bank World Elite, first year: about $636, thanks to the fee refund
What the example shows:
- Wealthsimple fee paid: National Bank wins by a wide margin;
- Wealthsimple fee waived: the two cards finish almost even;
- With $3,000 of foreign currency purchases: the National Bank card loses $75 to foreign transaction fees and drops to about $411.
Insurance: watch out in Quebec
This is the most important point for Quebec readers. According to the Chubb certificate of insurance linked from our card page, the emergency medical, trip cancellation and interruption, baggage and flight delay coverage on the Wealthsimple Visa Infinite+ Card is not available to Quebec residents.
For residents of other provinces, the Wealthsimple card offers:
- Emergency medical: $1,000,000, for trips of 14 days, under age 65 only;
- Trip cancellation and interruption: $1,000 per insured person, up to $3,000 per trip;
- Baggage: $500 for delayed baggage, $750 for lost baggage;
- Flight delay: up to $1,000.
The National Bank World Elite Mastercard covers travellers from every province, Quebec included:
- Emergency medical: up to $5,000,000, for trips of 60 days for ages 54 and under, 31 days for ages 55 to 64 and 15 days for ages 65 to 75;
- Trip cancellation and interruption: $2,500 and $5,000 per person;
- Baggage: $500 for delayed baggage, $1,000 for lost baggage;
- Flight delay: $500;
- Car rental: up to 48 days.
The Wealthsimple card has no car rental insurance. On purchases, it protects what you buy for 90 days and doubles the manufacturer's warranty, up to one extra year. The National Bank card protects purchases for 180 days and extends the warranty by up to 2 years. Both cover mobile devices up to $1,000. Our National Bank World Elite insurance guide covers every policy in detail.
Travel perks and lounges
The National Bank World Elite Mastercard reimburses up to $150 in travel expenses per calendar year: airport parking, baggage fees, seat selection, lounge access and upgrades. Our article on the NBC annual travel credit explains how it works.
It also gives free, unlimited access to the National Bank Lounge at Montreal-Trudeau, with one guest and two children aged 12 and under. According to National Bank, the lounge has been temporarily relocated since October 5, 2026, due to major renovations. The card also includes a DragonPass membership, with no free visits included.
The Wealthsimple Visa Infinite+ Card focuses on other perks: a metal card for clients with more than $100,000 in assets, Visa Infinite concierge, the Visa Infinite Luxury Hotel Collection, GigSky mobile data and boosted cash back at partner merchants through the app. On Wealthsimple's website, access to more than 1,200 airport lounges is listed as a Visa Infinite Privilege perk, not a Visa Infinite+ one.
The verdict by profile
No single answer fits everyone. Here are the profiles this matchup is really about.
You already invest with Wealthsimple
If you hold at least $100,000 at Wealthsimple or your pay is deposited there, the Wealthsimple Visa Infinite+ Card is free. Its 2% cash back on everything and zero foreign transaction fees make it an excellent all-purpose card. That is especially true if you spend a lot in foreign currencies. If you live in Quebec, though, plan for separate travel insurance.
You bank with National Bank
The National Bank World Elite Mastercard is the clear pick. You get a discount on the monthly fees of The Total and The Connected banking packages, 5 points per dollar on groceries and dining, and comprehensive travel insurance. Check the 24-month rule before applying for the free-first-year offer.
You often fly out of Montreal-Trudeau
National Bank wins hands down. The YUL lounge, the $150 travel credit and medical coverage that applies to Quebec residents for 60-day trips add up to a package the Wealthsimple card does not offer Quebecers.
Why not both?
It is a logical pairing. Put groceries and restaurants on the National Bank card, up to the $2,500 monthly threshold. Then use the Wealthsimple card for foreign currency purchases and non-bonus spending. This strategy only makes sense if your Wealthsimple fee is waived.
Conclusion
So which card wins this matchup? For most Quebec readers, the National Bank World Elite Mastercard remains the better choice. It earns more on groceries and dining, its travel insurance applies in Quebec, and its travel credit cancels out its annual fee.
The Wealthsimple Visa Infinite+ Card wins in one specific case: when its fee is waived and you spend heavily in foreign currencies. Below the $100,000 asset threshold, with no payroll deposit, its $240 fee eats up a large share of the cash back.
Exclusive
- Annual feeNo annual fee the first year
- $0 $150
- Our valuationMilesopedia first-year estimate First-year valueAnnual fee rebated$150Total$150Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- $150
- Welcome offer$150 annual fee rebated
- First Year Annual Fee Rebate
- Ends Nov 4, 2026
Apply Now
on National Bank's website
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Wealthsimple vs NBC World Elite: frequently asked questions
At what point does the Wealthsimple card become free?
The Wealthsimple Visa Infinite+ Card has no annual fee if you hold at least $100,000 in individual assets at Wealthsimple or have your pay deposited there each month, above the threshold Wealthsimple sets. Otherwise, it costs $240 a year, billed once a year in Quebec. Our review of the Wealthsimple cards covers the full lineup.
Does the Wealthsimple card's travel insurance cover Quebec residents?
Not for the main coverages. According to the Chubb certificate of insurance, emergency medical, trip cancellation and interruption, baggage and flight delay coverage are not available to Quebec residents. The National Bank World Elite Mastercard, by contrast, covers emergency medical costs up to $5,000,000 for trips of 60 days for ages 54 and under.
Which card earns the most on groceries?
The National Bank World Elite Mastercard. It earns 5 points per dollar on groceries and restaurants, or about 4.5¢ in value per dollar, within the first $2,500 of monthly purchases. The Wealthsimple Visa Infinite+ Card pays 2% in every category, or 2¢ per dollar.
Which card is best for purchases abroad?
The Wealthsimple Visa Infinite+ Card, since it charges no foreign transaction fees. The National Bank World Elite Mastercard charges 2.5% on every foreign currency purchase, or $25 per $1,000 spent. On purchases abroad, the Wealthsimple card keeps its full 2% cash back.
Do both cards give airport lounge access?
Only the National Bank World Elite Mastercard gives access to a lounge: the National Bank Lounge at Montreal-Trudeau, free and unlimited, with one guest. On Wealthsimple's website, lounge access is a Visa Infinite Privilege perk, not a Visa Infinite+ one. Our ranking of the best cards for airport lounges lists other options.
Can I hold both cards at the same time?
Yes, since the cards come from two different issuers. A common strategy is to use the National Bank card for groceries and restaurants, then the Wealthsimple card for foreign currency purchases and everything else. That combination mostly pays off if your Wealthsimple fee is waived.