Get 2% cash back on everything

You can apply for the card if you're a Canadian resident, are the age of majority in the province or territory you're a resident of, and you have a personal income of at least $60,000 or household income of at least $100,000. You'll also need to have an active Wealthsimple chequing account before you apply.

We'll perform a full credit check after you submit an application.

Right now, the card is only available in limited quantities so even if you meet these requirements, you might not get one.

The annual interest rate for purchases is 20.99%, and for cash advances or cash-like transactions, it's 22.99%. This rate comes into effect on the day the account is opened (whether or not a card is activated).

Your annual interest rates will increase to 25.99% on purchases and 27.99% on cash advances and cash-like transactions if we do not receive your minimum payment by the payment due date for 2 consecutive months. The increased annual interest rates will apply in the third statement period following the second missed payment that caused the rates to increase. The increased rates will continue to apply until we receive your minimum payments by the payment due date.

You'll earn cash back on net purchases only and get your payout within each statement period for qualifying transactions. The 2% does not apply to cash-like transactions, refunds, or any applicable fees and adjustments.

To be eligible for zero monthly fees, you'll need to set up a monthly direct deposit of $4,000 or more to your Wealthsimple chequing account (switching your paycheque is usually the easiest way to do it).

First you'll need to have an open Wealthsimple chequing account, then copy your account details including our institution number (703), transit (or branch) number (00001), and your personal account number.

After that, go to your employer's payroll platform and update your direct deposit account information. You can find more details here.

Premium clients (clients with over $100,000 in assets with us) will automatically receive a metal card.

You'll be charged $10 monthly if you have under $100,000 in assets with Wealthsimple.

Remember, you can still waive this fee by having your paycheque ($4,000 or more per month) direct deposited to your Wealthsimple chequing account. Effective from July 10, 2025 for existing credit card clients. You can find out more about the fees here.

Really! We don’t charge any foreign exchange fees. However, the payment network (not us!) still applies a currency conversion rate.

The credit card is a way of borrowing money, while the prepaid card is spending your own money that is already in your chequing account. When applying for the credit card, a credit check is required and using the card will affect your credit score — good payment history helps, while missed payments may affect your score negatively.

The cash back rewards are higher on the credit card, and it comes with some additional benefits like insurance and access to the Visa Infinite perks.

There are no tap limits when you use your virtual card! Two things need to be true — you have to have enough credit to pay for whatever you’re tapping for, and the store (or whatever merchant) you’re at can’t have imposed their own tap limit on their machines.

Because your virtual card requires you to unlock your phone to pay, there’s an added layer of security compared to your physical card.

Thats why your physical card does still have a tap limit, which depends on the type of purchase you’re making.

At this time, you can only pay your Wealthsimple credit card balance from a Wealthsimple chequing account.

You can set up auto-pay to make payments to your card on the schedule that works best for you.

You can read our full insurance certificate for more details on the mobile device insurance, purchase protection, and extended warranty here.