Wealthsimple Visa Infinite Privilege

Overview

The Wealthsimple Visa Infinite Privilege is Wealthsimple's premium credit card tier — a metal card issued on the Visa Infinite Privilege network that offers unlimited 2% cashback on all purchases, no foreign transaction fees, and six complimentary airport lounge visits per year. Like its sibling card, it's issued by Wealthsimple and carries a $240 CAD annual fee billed at $20 CAD per month, with the same fee waiver structure available to qualifying Wealthsimple account holders. The key differentiators from the base Wealthsimple Visa Infinite + are the lounge access benefit and the metal card itself — a physical distinction that signals the premium tier.

Availability note (April 2026): Both Wealthsimple cards are currently waitlist-only. You join the waitlist inside the Wealthsimple app (Add an account → Open an account → Credit Card → Join the waitlist) and Wealthsimple issues invitations to apply over time, with priority for existing Generation, Premium, and long-tenured clients. The card isn't available to Quebec residents right now. Wealthsimple has said it plans to open the card to broader applications later in 2026.

Who this card is for

This card has two qualification paths that work independently from the fee-waiver conditions. You qualify on income at $150,000 CAD individual or $200,000 CAD household, but Wealthsimple also approves applicants without meeting those income bars if they hold $400,000 CAD or more in Wealthsimple assets, or maintain $50,000 CAD in annual card spend. Separately, the $20/month fee is waived for anyone with $100,000 CAD or more in Wealthsimple assets (which triggers Premium or Generation status) or a $4,000 CAD monthly direct deposit. For those who qualify for the waiver, this card offers flat cashback, no FX fees, and lounge access for effectively no annual cost.

Key benefits

The 2% unlimited cashback rate applies to all eligible purchases — identical to the base Wealthsimple Visa Infinite +. At $4,000 CAD per month in spending, that's $960 CAD in cashback annually. Cashback posts immediately when transactions clear into your Wealthsimple account.

The lounge access benefit is the main addition over the base card: six complimentary visits per year at over 1,200 airport lounges worldwide through the Visa Airport Companion program. Six visits covers a reasonable travel schedule for most cardholders without paying per-visit fees.

No foreign transaction fees remain intact at this tier. Most Canadian cards charge 2.5% on foreign currency transactions — avoiding that on $5,000 CAD in annual foreign spend saves roughly $125 CAD.

The Visa Infinite Privilege tier also includes access to the Visa Luxury Hotel Collection and Visa Infinite Privilege concierge service — standard inclusions on Privilege-tier Visa cards in Canada.

Potential drawbacks

Upgrading to this card adds lounge visits and a metal card — not a higher earn rate. The 2% cashback is identical to the base tier. The $150,000 CAD individual income requirement rules out many who might want the lounge benefit, and six annual lounge visits won't satisfy heavy airport users. If cashback is your main goal with no interest in lounges, the base Wealthsimple Visa Infinite + delivers the same return for a lower income hurdle.

How it compares

The Wealthsimple Visa Infinite + is the logical base comparison — same 2% rate, same fee structure, no income premium, but without the lounge access or metal card. If you rarely use airport lounges, the base Infinite tier is the better value. For cardholders who want far more lounge access and are willing to pay a significantly higher annual fee, the American Express Platinum offers unlimited Centurion Lounge access (plus access to Plaza Premium and Priority Pass lounges) — though at $799 CAD per year and with Amex's narrower Canadian acceptance compared to Visa.

Bottom line

This fits best for high-income Wealthsimple users who fly a few times a year and want a clean, uncomplicated cashback card with lounge access on top. The fee waiver makes it exceptionally strong for those who qualify — without it, you're paying $240 CAD for lounge access and cashback that you need to evaluate against your actual travel frequency.