Toronto fintech Wealthsimple is preparing to roll out its new Visa Infinite Privilege credit card, an upgraded version of its existing Visa Infinite card that adds premium travel and lifestyle benefits at no extra cost.
The new card will start reaching eligible clients in the coming weeks, with upgrades happening in batches over the next few months. Wealthsimple says users don’t need to apply — those who qualify will be notified before the end of the year.
The Visa Infinite Privilege card includes all the same features as the current Visa Infinite, along with several new perks such as:
Like the current card, users earn 2% cash back on eligible purchases, pay no foreign exchange fees, and receive 24/7 customer support. The annual fee is waived for Wealthsimple Premium or Generation clients, or anyone who deposits $4,000 or more per month through direct deposit.
Eligibility for the Privilege version is based on income, requiring at least $150,000 in personal income or $200,000 in household income. Clients who don’t meet those thresholds will remain with the regular Visa Infinite card, which still offers strong benefits such as 2% cash back, mobile phone insurance, and basic travel coverage.
There are still a tonne of Wealthsimple customers waiting to get their Visa Infinite card, so time will tell how fast this new Infinite Privilege card will rollout.
Wealthsimple says it’s working to get cards into clients’ hands as quickly as possible, and anyone interested can join the waitlist to secure their spot. You can click here to sign up for Wealthsimple and get a free $25 bonus.
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