Wealthsimple has its own Visa credit card now, and it plugs right into the same app you'd already use for investing, crypto, and your Chequing account. Here's a full breakdown of how it works, what the welcome boost is worth, and whether it stacks with the regular sign-up bonus.
What is the Wealthsimple credit card?
There are two tiers:
- Wealthsimple Visa Infinite — the standard card
- Wealthsimple Visa Infinite Privilege — the premium tier
Both earn a flat 2% cash back on every purchase, no rotating categories to keep track of. Cash back lands directly in your Wealthsimple account, where you can invest it, hold it as cash, or use it to buy crypto.
The 5% welcome boost, explained
Approved cardholders get an extra 3% cash back stacked on top of the standard 2%, for an effective 5% rate during the first 30 days after approval.
Here's what that actually looks like:
- Boost rate: 3% extra on top of the base 2%, for 5% total
- Boosted period: 30 days from card approval
- Spending cap: applies to your first $10,000 in net purchases during that window
- Maximum boost value: up to $300 in extra cash back
- Hold period: keep the card open for 180 days after the boost ends, or Wealthsimple can claw it back
- Eligibility: you need an in-app or email invitation, and you have to apply within 30 days of getting it
Spend the full $10,000 in your first 30 days and you'd earn $500 total in cash back: $200 at the base 2% rate, plus $300 from the boost.
Does it stack with the referral bonus?
Yes. These are two separate promotions. Per the official terms, this offer can be combined with other offers or promo codes unless stated otherwise.
So a new user can sign up, deposit $100 to grab the $25 referral bonus, and later get invited to the credit card and benefit from both at once.
What counts as a net purchase?
The 5% boost only applies to net purchases. These don't count:
- Cash-like transactions (money orders, prepaid cards, etc.)
- Gift card purchases
- Refunds and returns
- Applicable fees and adjustments
If you return something during the boosted period, your earned boost gets adjusted down proportionally.
How it compares to other cash back cards
| Feature | Wealthsimple Visa | Typical 2% Card |
|---|---|---|
| Base cash back rate | 2% on everything | 2%, often limited to 1-2 categories |
| Welcome boost | 5% for 30 days (up to $10,000) | Varies |
| Cash back destination | Wealthsimple account (invest, cash, or crypto) | Statement credit or gift cards |
| Integrated with investing app | Yes | No |
The real difference is where your cash back ends up. Instead of a statement credit, your 2% lands directly in your Wealthsimple account, where you can put it straight into a TFSA, buy ETFs with it, or just let it sit in Chequing earning interest.
Who actually gets invited?
Wealthsimple sends the welcome boost invitation through the app or by email to eligible account holders. Once you get it, you've got 30 days to apply and lock in the boost.
If you don't have a Wealthsimple account yet, signing up puts you in the pool of users who might get a credit card invitation once your account has some activity on it.
Frequently asked questions
Can I apply without an invitation? You can apply for the card without one, but you'll only earn the standard 2% rate, no boost.
Does the 5% boost apply to everything I buy? It applies to net purchases up to $10,000 during the 30-day window. Cash advances, gift cards, and cash-like transactions don't count.
What happens if I close the card early? Close or deactivate it within 180 days of the boost period ending, and Wealthsimple can claw back the bonus cash back from your account.
Where does my cash back actually go? Straight into your Wealthsimple account. From there you can invest it, keep it as cash earning interest, or buy crypto with it.
Does the credit card promo mess with my referral bonus? No, they're separate offers and can be combined.
🎁 New to Wealthsimple? Sign up with code US0EBW and get $25 added to your account once you deposit $100.
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