BMO® CashBack World Elite Mastercard®
4.5·Big grocery spenders who want the highest cash back rate
- Annual fee
- $120/yr
- Welcome bonus
- ~$260
- Top reward
- 5% groceries
- Highest headline grocery cash-back rate in Canada
- Strong transit and gas categories
Wealthsimple® Credit Card review
4.4Rated by the CreditCardGuru Editorial Team
A standout no-fee card: a flat 1% with zero foreign transaction fees is rare, and Wealthsimple clients can push it to 2%. A no-fuss everyday and travel card.
At a glance
- Annual fee
- No annual fee
- Foreign tx fee
- None
- Network
- VISA
- Rewards
- cash back
- Purchase APR
- 20.99%
Rewards & earn rates
| EverythingUp to 2% for Premium & Generation clients | 1% |
Pros & cons
Pros
- Rare no-fee card with no FX fees
- Flat 1% on everything, auto-invested
- Higher rates for Wealthsimple clients
Cons
- Base 1% trails category cash-back cards
- Best value needs Wealthsimple assets
Perks & insurance
Key perks
- No annual fee
- No foreign transaction fees
- 1% cash back you can auto-invest
- Up to 2% back for higher-tier clients
Insurance
- Purchase security
- Extended warranty
Rates & fees
- Annual fee
- None
- Purchase interest
- 20.99%
- Cash advance
- 22.99%
- Foreign transactions
- No fee
Compare Wealthsimple® Credit Card with…
Last updated June 1, 2026Reviewed by CreditCardGuru Editorial Team
Similar cards to consider
CIBC® Dividend® Visa® Infinite Card
4.5·Households with heavy grocery and gas spend who want maximum cash back.
- Annual fee
- $120/yr
- Welcome bonus
- ~$350
- Top reward
- 4% groceries
- 4% on gas and groceries is among the highest in Canada
- Strong 2% middle tier covers dining, transit and bills
Disclaimer: This page is for informational purposes only and does not constitute financial, tax or legal advice. Card terms and offers change and may be out of date — always verify with the issuer before applying, and consult a qualified professional before making financial decisions. CreditCardGuru may earn a commission from cards featured on this site; this never influences our editorial ratings. See our advertiser disclosure.
Written by
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CreditCardGuru Editorial Team
Rewards & Cards Research
Our editorial team independently researches and rates every credit card in Canada using a transparent, data-driven methodology. We update card terms continuously and never let issuer relationships influence our ratings.
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Cite this page
“Wealthsimple® Credit Card Review (2026)” — CreditCardGuru, https://creditcardguru.ca/cards/wealthsimple-credit-card, updated June 1, 2026.