News Summary

Toronto-based fintech company Wealthsimple is set to double the annual fee of its Visa Infinite credit card from $120 to $240, starting October 8, 2025. Customers will be charged $20 monthly, with Quebec residents billed annually. Fee waivers are available for Premium or Generation status customers, or Core clients who deposit at least $4,000 monthly into a Wealthsimple chequing account. The card offers 2% cash back on eligible purchases, zero foreign exchange fees, and various perks like purchase protection, phone insurance, and access to luxury hotel perks. New benefits include travel insurance covering up to $1 million in emergency medical expenses for cardholders under 65, trip cancellation and interruption insurance, although these are not available to Quebec residents.