The WealthSimple Credit Card is DISAPPOINTING

In this video, we take a look at the newly anounced WealthSimple Visa Infinite Credit Card, and discuss why the WealthSimple credit card is a disappointing addition to Canadian credit cards.

** UPDATE ** The annual fee of the WealthSiple Credit Card will be $240 starting from October 2025. I go over this and all other changes in this video:    • WEALTHSIMPLE CREDIT CARD DOUBLED THE FEE!!...  


👉 Get $25 For Signing Up To WealthSimple For The 1st Time: https://www.wealthsimple.com/invite/U...

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We begin this WealthSimple card review by taking a look at the features offered by this credit card, as well as the requirements and fees involved. The WealthSimple metal card is a brand new credit card in Canada 2025 that offers 2% cash back on all purchases, no foreign transaction fees, and although it has a $10 monthly fee, the fee can be waived if you either have $100,000 in assets on WealthSimple, or if you set up a direct pay check deposit of at least $4,000 a month or higher.

The WealthSimple Canada credit card has a minimum income requirement of either $60,000 personal, or $100,000 household. While this is not as high as some Visa infinite privilege credit cards that require $80,000 or in some cases even $100,000 minimum personal income, this is still an income requirement that prohibits many Canadians from acquiring the card.

As well as this, not everyone will be looking to either use WealthSimple as their investment platform of choice, or WealthSimple bank accounts as their checking account of choice for depositing their pay checks. There are other opportunities such as the EQ Bank savings account, which allows you to get a very high interest rate on your savings if you set up a direct pay check deposit into your EQ bank account. Similarly, banks like RBC offer prestigious sign up bonuses, such as a free Apple Watch, if you set up your pay check direct deposit on their account for a specified period of time.

If you can't get the card for no fees, then you would have to pay the same amount in monthly fees as the likes of the Amex SimplyCash Preferred card, which gets you 4% cash back on gas, groceries, and 2% cash back on all else; not to mention this Amex credit card also has much better coverages such as mobile device insurance, travel coverages, etc.

Also there is the Rogers Red Mastercard which is both free to own and has no minimum income requirements. As long as you have at least one service with either Rogers, Fido, or Shaw, you will get 2% cash back on all your purchases with the Rogers card, and if you spend your cash back on those services, you will be able to redeem them for 50% higher value, which basically means you were in effect earning 3% cash back all along.

Given the existence of these other cards, one can not simply classify the WealthSimple Visa Infinite Card as one of the best credit cards in Canada 2025 quite yet. With a few improvements here and there, this card has the potential to be among the best Canadian credit cards in 2025, but as is, the card leaves a bit more to be desired.

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