Wealthsimple Metal Visa Infinite Credit Card | Page 2 | Wealthsimple | Discussion forum

Always had to login to a different app to claim the funds and that took a few days

No idea what this is about. Once you log into MBNA, click rewards and you get transferred to the claiming page within seconds. They send you an ecard within minutes of claiming it.

Fee was raised, no way to avoid even though I spent 75k monthly

So you spend 900K on just 1 credit card per year but $120 charge is a showstopper? This charge has not changed since 2018.

Incidentally, this card gives you 0.5% of your expenditure as an extra reward on your birthday. That would have more than offset $120 annual cost.

I have not noticed point value being lowered but its hypothetically possible if you spent them in a very particular way and had no flexibility.

What would be relevant to someone spending 900K is the fact mbna card limits 5% reward, so it no longer applies if you spend more than 50k on restaurants. But you didn’t mention that.

Overall, something does not compute with your comment.

KamWest said
No, the decision was not about the fee.

MBNA served me well over the years, I got a ton of money back so no complaints but compared to wealth simple visa it definitely loses out.  

Surely it depends. People who prefer 5% and insurance vs 2% and no exchange fee / no insurance might go for MBNA instead.

But the point was that your claims make no sense/are wrong.

Just wanted to add some points to the discussion and also tell you what I learned during the process of actually getting the Wealthsimple visa card.

Also since everybody situation is different, what I find good on a certain credit card might not be what is the best for someone else.

The card is attractive to me because of the no-brainer 2% cash back on everything, the No FX charge of 2.5% and the waiving fees with the premium status.

I also have the Rogers world elite that gives me 1.5% on everything and travel insurance with no annual fees. ( for me it's a great no-brainer cash back free card and you can use it at Costco since it is a MC)

- Wealthsimple says if you are a premium client or have a monthly direct deposit of $4000 they will waive the fees: So I decided to transfer one of my Registered stock trading account to Wealthsimple and also take advantage of the Wealthsimple Summer Margin Match 2025 (1% cash back).

- After getting my premium status, I tried to apply for the card (I meet all the criteria)
- What I learned is that to be on the fast lane waiting list (Getting my card in the next weeks or months) I also had to add a monthly $4000 direct deposit or to be a generation client (over $500,000 in assets) . If not you are not, they just put you on a regular waiting list and that could take up to 6 months or more before you can actually apply for the credit card.
I told them that there was no mention of any special criteria about the waiting list on the website and they actually confirmed that there was not but they were doing their best.

I have no intention at the moment to transfer more assets at Wealthsimple so I will be waiting...

So my point is if you are not on a rush for a travel credit card go ahead and apply for it but if you need it fast be sure to meet all the criteria of the fast lane waiting list.
Also please note that at the moment it is not possible to add another user on the card.

Good luck

KamWest said
Just to let you know @slybanking

Even after I became double generational a rep gave me this advice and my card came instantly.

To check if you have been granted access to apply for a new credit card, follow these steps:
Navigate to the Accounts section on the home page.
Select Add or move account at the bottom of the list.
Choose Open a new account > Credit card.

If you see the option to Apply for the card, you've been granted access and can proceed with the application.
Feel free to check your app periodically, and if you don't see anything after two weeks, please reach back out, and we can look into this further.

The email contained other dialog but once I followed this advice the card was in my google wallet in under 5 minutes.  

Thanks. I Tried, the option to apply for the credit card is there but the final answer I get is try again in 30 days....

Will see.

I applied for the WS credit card this morning - now that they made it worth my while. Got the “Privilege” version in my electronic wallet right away. That was nice; I wasn’t sure that the card they only announced yesterday was actually available. Sometimes WS likes to “pre-announce” to create a stampede of people desiring what they can’t have.

Still not 100% certain about specifics of some of the benefits. Hopefully it will all become known in due course. Either way, it is a no-brainer choice for travel.

Sadly, we can’t have a second cardholder on this and my wife can’t apply. Assume she will be able to by the end of 2025, so a short term issue.

KamWest said
Is it marked as Privilege?
I have my card in the wallet and it just says infinite but I got it before privilege was a thing.  

Yes. You can hardly see it as it's dark grey on grey background. They will be replacing cards if already issued and eligible - over the next few months.

KamWest said

 

THANKS for your post!!! You made me look in the app and in the CC section I found an upgrade option. So I opted to keep my current card so I need not change any subscriptions info and such but get all the new fabulous benefits. Took all of a few minutes to upgrade.

I will mention that I have had the card since September and have only spent around $750 in this time.

Plus, the reason I got the card was reading someone else's post about looking in the app to see if the CC was available, and to my surprise it was. I have not received an email about the CC except for being on the waiting list months ago. Yet I do receive other emails from Wealthsimple all the time.