Wealthsimple is investing and savings under one brand — not a credit card. Compare commissions, account fees and the cash rate on the live offer. A savings {rateAbbr} is not an investing return.
Our review
9.0
4.5(1 review)
James Okonkwo · Editor, cards and deposits
Editorial review — not personal advice and not a promise of approval.
Suits:A digital investing or high-interest cash account when the apply link and the fee line are published.
Wealthsimple is investing and savings under one brand — not a credit card. Compare commissions, account fees and the cash rate on the live offer. A savings APR is not an investing return.
Editorial scores
Cost9.0
Flexibility9.2
Transparency9.0
Service8.6
What stands out
Investing and cash accounts
Digital application
Published fees
Wealthsimple is in the Canada comparison as investing or deposits — not revolving credit. Open investing or savings. Supervision: OSFI and the FCAC. Editorial review — not advice.
Pros
Listed on <a href="/ca/personal/investing">investing</a> and savings, not mixed into cards.
Fee and cash-rate lines are published on the live offer.
Cash and holdings are listed as separate products, not one balance.
Cons
Investment returns are not guaranteed.
A promotional cash rate can step down; read the ongoing rate.
Questions about Wealthsimple Visa Infinite Privilege Credit Card
Why did Wealthsimple appear on cards before?
A tracker assignment tagged it as a card. On Buckmatch it belongs with investing or savings.
Are securities CDIC-insured?
Eligible deposits can be. Holdings usually are not. Read the entity on the card and CDIC coverage.
Representative example. Requires Canadian residency, age of majority and an active Wealthsimple chequing account. Limited quantities; meeting eligibility does not guarantee a card. Monthly fee CAD 20 below CAD 100,000 in individual assets; Quebec clients billed annually. Fee waiver available with qualifying CAD 4,000 monthly direct deposit. Purchase interest 20.99%; cash advances 22.99%; penalty rates 25.99%/27.99% after two missed consecutive minimum payments. Income, household-income or asset/spend eligibility criteria apply; see issuer terms.
We do not receive commission on this link. Eligibility and final terms are determined by the issuer.
How it compares
This card against the next three in this market, on published terms.
How it compares
Wealthsimple Visa Infinite Privilege Credit CardThis card
Scotiabank Platinum American Express Card
Scotiabank Value Visa Card
Scotiabank Value Visa Card (for students)
Network
Visa
American Express
Visa
Visa
Monthly fee
$20/mo
—
—
—
Purchase rate
20.99%
9.99%
13.99%
13.99%
Rewards
2% on eligible purchases without category caps.
2 Scene+ points/$ on eligible purchases; 5 points/$ on eligible hotels and car rentals booked through Scene+ Travel.
This card focuses on borrowing costs or USD spending rather than a points or cashback programme.
This card focuses on borrowing costs or USD spending rather than a points or cashback programme.
APR
20.99%
9.99%
13.99%
13.99%
Card type
Consumer
Consumer
Consumer
Consumer
Provider type
Direct lender
Direct lender
Direct lender
Direct lender
Reader reviews
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Lowest APR
2–5 pts/$
Rewards
$399
Annual fee
9.99%
Purchase rate
Consumer
Reward points
2 Scene+ points/$ on eligible purchases; 5 points/$ on eligible hotels and car rentals booked through Scene+ Travel.
APR
9.99%
Annual fee: CAD 399. Purchase interest: 9.99%. Cash advances: 9.99%. Rates and fees may change; see issuer information box.
We do not receive commission on this link. Eligibility and final terms are determined by the issuer.
This card focuses on borrowing costs or USD spending rather than a points or cashback programme.
APR
13.99%
Annual fee: CAD 29. Purchase interest: 13.99%. Cash advances: 13.99%. Rates and fees may change; see issuer information box.
We do not receive commission on this link. Eligibility and final terms are determined by the issuer.
This card focuses on borrowing costs or USD spending rather than a points or cashback programme.
APR
13.99%
Annual fee: CAD 29. Purchase interest: 13.99%. Cash advances: 13.99%. Rates and fees may change; see issuer information box. Student eligibility requirements apply.
We do not receive commission on this link. Eligibility and final terms are determined by the issuer.
Wealthsimple: Requires Canadian residency, age of majority and an active Wealthsimple chequing account. Limited quantities; meeting eligibility does not guarantee a card. Monthly fee CAD 20 below CAD 100,000 in individual assets; Quebec clients billed annually. Fee waiver available with qualifying CAD 4,000 monthly direct deposit. Purchase interest 20.99%; cash advances 22.99%; penalty rates 25.99%/27.99% after two missed consecutive minimum payments. Income, household-income or asset/spend eligibility criteria apply; see issuer terms.
We do not receive commission on this link. Eligibility and final terms are determined by the issuer.
Scotiabank: Annual fee: CAD 399. Purchase interest: 9.99%. Cash advances: 9.99%. Rates and fees may change; see issuer information box.
We do not receive commission on this link. Eligibility and final terms are determined by the issuer.
Scotiabank: Annual fee: CAD 29. Purchase interest: 13.99%. Cash advances: 13.99%. Rates and fees may change; see issuer information box.
We do not receive commission on this link. Eligibility and final terms are determined by the issuer.
Scotiabank: Annual fee: CAD 29. Purchase interest: 13.99%. Cash advances: 13.99%. Rates and fees may change; see issuer information box. Student eligibility requirements apply.
We do not receive commission on this link. Eligibility and final terms are determined by the issuer.
