Wealthsimple credit card changes my mind and for a second I belive its one of the best credit csrds available in 🇨🇦 Why I like the card for travel: ✈️ 0% foreign transaction fee 💳 Unlimited 2% cash back on eligible purchases 🛋️ 6 complimentary lounge visits every 12 months through Visa Airport Companion 🌎 1,200+ participating lounges 🩺 Up to $2M travel medical coverage, subject to the insurance terms and eligibility To waive the $20/month fee, Wealthsimple currently requires either: 💰 $100,000+ in individual assets or 💵 $4,000+ qualifying monthly direct deposit The Wealthsimple Visa Infinite Privilege eligibility detail most people miss 👀 Most people see: $150K personal income or $200K household income …and immediately assume they don’t qualify. But Wealthsimple currently lists two other eligibility paths: 💳 $50,000+ annual credit card spend or 💰 $400,000+ in savings/investments with Wealthsimple I got mine using $50K spending. If you are renting, $2000 a month would be a minium expense. So someone could potentially meet the card eligibility requirement through one route and the fee waiver through another. Approval and other requirements still apply. For someone who travels often and can waive the fee, this becomes a very interesting card. Would you use this over an Aeroplan card? Because I actually paid my annual car insurance as WS was giving 5% bonus cashback for 1 whole month.
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4 Comments
Jon Snow
@jsnow10 · 1mo
I would avoid spending 50k just to get infinite privilege. As I can get better deal with other cards like 4% on rent, groceries, gas and recurring bill payments instead of 2% If you are spending 50k anyways then efficiently using other paid cards can get you around $1000 more in cashback as compared to few free lounge access. I do have infinite+ metal card free for me. So, I only use at places where other cards can’t get me 4% cashback like retail stores, online purchases etc.
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