Wealthsimple Visa Infinite Review 2026 — Worth It vs Scotia Passport?
The verdict: Wealthsimple Visa Infinite is a top-3 Canadian cashback card if you already qualify as a Wealthsimple Premium ($100K+) or Generation ($500K+) client. 2% cashback flat on everything, 0% FX, no annual fee. It's NOT available as a standalone — non-Wealthsimple users can't apply. The card alone is worth ~$600/year in cashback for an average Canadian household ($30K annual spend).
What you get with Wealthsimple Visa Infinite
- 2% cashback flat on every purchase — paid as Wealthsimple cash, auto-deposits into your account
- 0% FX markup — beats every Big-5 travel card on foreign currency spend
- No annual fee — bundled into Wealthsimple Premium / Generation
- Visa Infinite perks — concierge, hotel collection, fraud protection
- Mobile device insurance — up to $1,500 if you charged your phone bill on the card
- 3% cashback for Generation clients — $500K+ in Wealthsimple
Who qualifies?
Wealthsimple Visa Infinite is restricted to Wealthsimple's two paid tiers:
| Tier | Asset minimum | Card cashback |
|---|---|---|
| Core (free) | No minimum | Not eligible |
| Premium | $100,000+ | 2% |
| Generation | $500,000+ | 3% |
Plus: Visa Infinite credit-score floor of typically 725+ Equifax/TransUnion. Use our Credit Score Calculator if you're not sure where you stand.
The math: how much is 2% cashback worth?
For a typical Canadian household spending $30,000/year on the card:
- 2% cashback = $600/year
- 0% FX vs typical 2.5% on $5,000/yr foreign spend = $125/year saved
- Total annual value: ~$725/year
For a Generation client (3% cashback), that's $900 + $125 = $1,025/year.
Compare against alternatives in our full Credit Card Comparison — the only cards that beat it on raw value also charge $120–$200 annual fees.
Wealthsimple Visa Infinite vs Scotia Passport Visa Infinite
| Feature | Wealthsimple | Scotia Passport |
|---|---|---|
| Annual fee | $0 (bundled) | $150 |
| Earn rate | 2% cashback flat | 3 Scene+ on grocery + 2× streaming |
| FX fee | 0% | 0% |
| Lounge access | No | 6 free Priority Pass/yr |
| Welcome bonus | ~$100–$200 (rotates) | 25K Scene+ + waived 1st year |
| Eligibility | $100K+ at Wealthsimple | Anyone with 700+ score, $60K income |
Pick Wealthsimple Visa if you have $100K+ at Wealthsimple AND don't fly 6+ times/year. Pick Scotia Passport if you fly enough to use the lounge passes (each pass = ~$30 value × 6 = $180/yr).
Is the Wealthsimple Visa Infinite safe?
The card is issued through Wealthsimple Payments and backed by Visa's Zero Liability. Wealthsimple itself is IIROC-regulated and CIPF-protected up to $1M for investment accounts. For a deeper dive into Wealthsimple security, including the 2024 data incident and class-action filings, see our Is Wealthsimple Safe? (2026 review).
Where the Wealthsimple Visa falls short
- No lounge access — biggest gap vs $150-fee competitors
- No travel medical insurance — most Visa Infinite cards include it
- Cashback only as Wealthsimple cash — can't transfer to a chequing account elsewhere
- Locked behind $100K asset minimum — no path for under-$100K users
Bottom line
If you already qualify, the Wealthsimple Visa Infinite is the highest-value no-annual-fee card in Canada. If you don't qualify, the better picks are:
- SimplyCash Preferred — 2% on everything, $99/yr
- CIBC Costco Mastercard — replaces the Capital One Costco card in 2025–2026
- Scotia Passport Visa Infinite — best for frequent travellers
Compare all options in our Credit Card Comparison.
Editorial disclaimer
This article is published by LoonieLabs for general information only. It is not financial, tax, legal, accounting, or immigration advice and must not be relied on as such. Rules, dollar figures, interest rates, and program eligibility change — always verify with the Canada Revenue Agency, IRCC, or a qualified professional before acting. Spotted an error? See our corrections policy. Last reviewed: April 21, 2026.
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Written and reviewed by Shrey Patel — Founder & Editor-in-Chief
Winnipeg, MB · Figures cross-checked against official banking & credit sources · Last reviewed April 21, 2026 · LinkedIn
Founder of LoonieLabs · based in Winnipeg, MB · writes and reviews every page on the site I oversee every figure on this page personally — verified against primary sources (CRA, IRCC, Statistics Canada, the Bank of Canada, or the originating provincial ministry). LoonieLabs has no affiliate relationships with any bank, credit card, or immigration consultant featured on this site. Spotted a mistake? Tell us.
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