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Wealthsimple Visa Infinite Privilege review: is the 2% card worth it in Quebec?

No stars here, dollars. The most talked-about black metal card in the country promises absolute simplicity: 2% on everything, period. This review checks what that promise is worth in Quebec, where the fee bills in one shot, where some insurance does not apply, and where a free rival is already sitting in many wallets.

Verified July 10, 2026 No affiliate links $240/yr or $0

By Ahmed Squalli, Studio Squalli, Montréal

Verdict

The Wealthsimple Visa Infinite Privilege is the simplest 2% card in Canada: 2% on everything, no cap, no categories, no foreign transaction fee. Its entire value hangs on one question: do you clear the fee waiver? With the waiver, it is pure 2% at zero cost. Without it, the $240 a year, billed in a single charge in Quebec, gets it beaten by the free Rogers Red World Elite for anyone with a Rogers, Fido, Shaw or Comwave service.

The mechanics

What does the card actually give?

One rate, no category asterisks: 2% cash back on everything, with no spending cap and no ecosystem conditions. No bill to credit, no provider to keep, no grid to optimize. Foreign purchases pay no FX fee, which makes it one of the rare cash back cards you can take out of the country without a 2.5% punishment.

One deliberate quirk: you do not choose your tier. Wealthsimple assigns you the Privilege or the Infinite+, and both earn exactly the same 2%; only the lounges (6 DragonPass passes on the Privilege) and the insurance differ. Premium and Generation clients, at $100,000 and up in assets, get the matte black metal card; everyone else gets the same card in plastic. The income requirement is standard Visa Infinite Privilege: $150,000 personal or $200,000 household.

The real question

Do you clear the fee waiver?

The $240 fee drops to $0 with $100,000 or more in assets at Wealthsimple or $4,000 a month in direct deposits. Since April 28, 2026 the measure is your individual assets only; household no longer counts. And in Quebec there are no monthly instalments: the $240 leaves in one annual charge, which makes hesitation more expensive here than elsewhere.

The arithmetic is short. With the waiver, the net 2% is unbeatable in simplicity. Without it, you need roughly $48,000 of annual spend for its 2% minus $240 to catch a free card's 1.5% without a Rogers service, and against an Elite earning 2% or an effective 3% for a Rogers customer, it never catches up. The calculator below runs the ranking with your numbers.

The calculator

How does it compare, in net dollars?

The full duel against both Rogers cards, waiver included. The winning amount is green.

The net-value calculator Three cards, your numbers
Everything you would put on the card in a year, in Canadian dollars.
Travel and purchases in other currencies, already included in the total above.
Your situation
Unlocks the 2 percent rate on both Rogers cards. Without it they earn 1.5 percent.
The 1.5x redemption bonus that turns 2 percent into 3 percent. Needs a Rogers bill to credit.
$100,000 or more in individual assets at Wealthsimple, or $4,000 a month in direct deposits.
Net result, dollars per year
  1. 01 Rogers Red World Elite $0/yr Winner
    $443 net / yr

    cash back $480, FX fees $38

  2. 02 Wealthsimple Visa Infinite Privilege $240/yr or $0
    $240 net / yr

    cash back $480, annual fee $240

  3. 03 Rogers Red World Legend $495/yr $495 for less
    -$15 net / yr

    cash back $480, annual fee $495

The free card wins. The Rogers Red World Elite nets $443 a year here, $458 more than the $495 Legend.

What the math counts, and what it leaves out
  • The Legend’s $200 Rogers entertainment credit is not counted. It only has value if you already pay for eligible Rogers TV or streaming (cable, Sportsnet+, CityTV+, Discovery+; not internet, not mobile). If you do, add up to $200 to the Legend yourself.
  • Lounge passes (6 Plaza Premium on the Legend, 6 DragonPass on the Wealthsimple) and the Legend’s 10 Roam Like Home days are not given a dollar value.
  • Elite spend above $61,000 a year is counted at the card’s 1.5 percent base rate, per the August 4, 2026 cap rules. The Legend is the only Rogers card exempt from that cap.
  • Foreign-currency spend is part of your total spend, not on top of it. Only the Elite charges the 2.5 percent FX fee; the Legend and the Wealthsimple charge none.

The flaws

What is wrong with it, stated plainly?

For a Quebec resident the sting is in the insurance: some travel protections are excluded, which the paperwork does not put in the shop window. The assigned-not-chosen tier can leave someone holding the Infinite+ with fewer lounge passes without ever having had a say. And it is a Visa: at a Canadian Costco checkout it stays in your pocket, as our Costco math shows.

The rest is structural: without the waiver, a $240 card earning 2% loses to free cards earning 2% or better. It also has no accelerated categories: heavy restaurant or grocery spenders will find specialized cards that pay more on those lines.

The profile

Who is it for, and who should skip it?

Take it if you are already a Wealthsimple client with $100,000 in individual assets or $4,000 a month in direct deposits: a fee-free, condition-free 2% with no FX fee is the best set-and-forget card in the country. It is also the right pick for heavy foreign-currency spenders, where its 0% FX fee beats both Rogers cards.

Skip it if the waiver is out of reach and your household already has a Rogers, Fido, Shaw or Comwave service: the free Rogers Red World Elite pays as much or more with no fee. The full duel is calculated here.

The facts

The verified fact sheet

Wealthsimple Visa Infinite Privilege

$240/yr, waivable to $0
Cash back
flat 2% on everything, unconditional, no cap
Fee
$240 per year, billed annually in Quebec
Fee waiver
$100,000+ in individual assets at Wealthsimple or $4,000/month in direct deposits
Since April 28, 2026
individual assets only, household no longer counts
Foreign transaction fee
none
Tier
assigned by Wealthsimple (Privilege or Infinite+), same 2% either way
Material
matte black metal for Premium and Generation clients, plastic otherwise
Lounges
6 DragonPass passes on the Privilege
Insurance
some travel protections excluded for Quebec residents
Network
Visa, refused at the Costco checkout and gas pump
Income requirement
$150,000 personal or $200,000 household

The method

How this review is done

Terms were verified July 10, 2026 against Wealthsimple and the specialist coverage. No star ratings: a card is judged in net dollars for your profile, which is what the calculator does. This is not financial advice; check the terms at the moment you apply.

This page is a Studio Squalli labs demonstration, with no affiliate links and no paid placement. See also the points or cash math and all the analyses on the Labs page.

Sources: Wealthsimple, card page, Wealthsimple, Core, Premium and Generation tiers, iPhone in Canada, metal card hands-on.