Wealthsimple Credit Card

Niche cardWhat the roles mean

Wealthsimple clients and travellers: 2% cash back on everything, with no foreign-exchange fee

Welcome offer now

"Get 5% cash back on your first 5 weeks"

Checked on Wealthsimple's own page October 21, 2026. See Wealthsimple's page

What it earns in a year

$360 back a year

After the $240 annual fee.

Based on $30,000 a year of spending ($9,600 groceries, $3,000 gas, $3,000 dining…). Welcome offer not included.

Try it with your own spending →

Everything else: 2% back.

How to apply for the Wealthsimple Credit Card

Check first

Wealthsimple chequing account required: the card can be paid only from it
Welcome boost by invitation only: for new Wealthsimple users who have never held a Wealthsimple credit card; get approved within 30 days of the invite

Check you qualify Income: $80,000 personal or $150,000 household. You need to live in Canada and be the age of majority in your province.
Have this ready Your address and how long you've lived there, your employer and yearly income, and your monthly rent or mortgage. Your SIN is optional for a credit card; you can leave it blank.
Expect a credit check Applying adds a hard inquiry to your credit report, which lowers your score a little for a few months. Space applications about 90 days apart.
Apply on Wealthsimple's own site Apply online from the bank's product page, where the offer above is shown. This isn't an affiliate link: we earn nothing if you apply.Apply on Wealthsimple's site →
After you're approved Put the spending needed for the welcome offer on the card before the deadline, and pay the full balance every month.

How to use it

Everything: 2% on every purchase, no categories, no caps
Spending abroad or in USD: put it here. Wealthsimple adds no foreign-exchange fee (Visa's rate still applies)
Get the fee waived: keep $100,000 at Wealthsimple or deposit $4,000+ a month to Wealthsimple chequing
First 35 days (if invited): 5% back on the first $10,000, up to $300 extra. Keep the card open 180 days after, or the bonus can be taken back
Example: $1,600/month spending = $384 a year back; $144 after the $240 fee if it isn't waived

Posts about this card

Key facts

Annual fee: $240
Purchase interest: 20.99%
Foreign currency fee: 0%
Min. personal income: $80,000
Min. household income: $150,000
Rewards: Cash back

Annual fee waiver

Assets: $100,000+ at Wealthsimple (Premium or Generation) waives the $240 fee
Or direct deposit: $4,000+ a month into Wealthsimple chequing
The catch: you move your savings or your paycheque to Wealthsimple
Worth it if you already bank or invest there

From wealthsimple.com/en-ca/credit-card, checked October 17, 2026. Not an affiliate link.

Best paired with

Neo World Elite Mastercard

This card: dining & restaurants, travel, transit, drugstore / pharmacy, entertainment, everything else
Neo World Elite Mastercard: groceries, gas / ev, bills & subscriptions
Together: $601 a year after both fees, vs $360 with this card alone
With this card's $240 fee rebated (see Fee waiver): $841 a year

If your stores take Amex: Scotiabank Gold Amex for groceries, gas / ev, dining & restaurants, transit, entertainment makes it $774 a year. Costco and Loblaw-banner grocers don't take Amex.

Computed on our standard household ($30,000 a year): each kind of spending goes to whichever card pays more, both fees taken off. Partners are everyday, category and churning cards on Visa or Mastercard. Points at their simplest redemption. Welcome offers not included.

Pros

2% on all purchases, unlimited
No foreign-exchange fee from Wealthsimple
Fee waived with $100,000 in Wealthsimple assets or $4,000/month direct deposit
Redeem cash back as cash or into a TFSA, RRSP, stocks or crypto
Phone insurance up to $1,000 and travel medical included
Welcome (invite only): 5% for 35 days on the first $10,000

Cons

$20 a month ($240 a year) unless waived; you need about $12,000 a year of spending just to cover it
Requires a Wealthsimple chequing account, and the card can only be paid from it
Redemption is manual, in the app
No rental car insurance on this card
Travel insurance not available to Quebec residents
Welcome offer is invite only, for people who never held a Wealthsimple credit card
Needs $80,000 personal or $150,000 household income

Insurance included

Travel medical: $1 million, first 14 days of a trip
Trip cancellation/interruption: $1,000 per person, $3,000 per trip
Flight delay: $1,000 per person, $2,500 total
Delayed bags: $500, after 6 hours
Lost or damaged bags: $750
Phone: $1,000 per claim, 2 claims
Purchases: 90 days of theft/damage cover, +1 year warranty

Maximums as Wealthsimple lists them. Conditions apply; the insurance certificate decides claims.

Perks

Cash Back Boost: extra cash back at partners like Walmart, Chewy, Audible and Hotels.com, activated in the app
Visa Infinite: concierge and luxury hotel collection
Virtual card in the app

How the offer has changed

One row per check of Wealthsimple's page, newest first. Old rows are never edited.

Checked	Welcome offer	Fee, year one	Ends
October 21, 2026	5% total cash back for 35 days ('first 5 weeks') on the first $10,000 of net purchases (3% boost on the 2% card, so up to $300 extra); invitation-only, new Wealthsimple users who have never held a Wealthsimple credit card; apply within 30 days of the invitation; card must stay open 180 days after the boostOffer and T&Cs unchanged (T&C page re-dated October 19, 2026, same text). Page reworded: hero now 'New clients get 5% cash back on everything for 5 weeks'; new tiles incl. '6 airport lounge passes' with no footnote saying which card gets them	$20/month ($240/yr), waived with $100k+ assets or $4,000+/month direct deposit	none stated (promotion began September 29, 2026)
October 17, 2026	5% total cash back for 35 days ('first 5 weeks') on the first $10,000 of net purchases (3% boost on the 2% card, so up to $300 extra); invitation-only, new Wealthsimple users who have never held a Wealthsimple credit card; apply within 30 days of the invitation; card must stay open 180 days after the boostNEW: offer now on the product page with published T&Cs. Visa Infinite + income now $80k personal / $150k household. Insurance underwriter is Chubb (COI updated June 1, 2026)	$20/month ($240/yr), waived with $100k+ assets or $4,000+/month direct deposit	none stated (promotion began September 29, 2026)

General information, not financial advice. Offers change; confirm on Wealthsimple's page before you apply.