Wealthsimple Prepaid Mastercard
3.7/5
$25 Exclusive bonus through FinlyWealth (min $1 funding required)
Card Details
Interest Rates
Purchase: N/A
Cash Advance: N/A
Balance Transfer: N/A
Annual Fees
Main Card: $0
Additional Cards: $0
Annual Income
Personal: N/A
Household: N/A
Credit Score Estimate
300Poor
560Fair
660Good
725Very Good
760Excellent
Welcome Bonus
$25 Exclusive bonus through FinlyWealth for new Wealthsimple customers (minimum of $1 funding required)
Card & Reward Type
Card Type: Prepaid
Reward Type: Cash Back
Our Rating
3.7/5
Institution
Wealthsimple
Rewards
- The highest-interest rate for a chequing account in Canada, up to 2.75%
- 1% cash back on all purchases
Insurance & Benefits
No insurance coverage information available for this card.
Benefits
Details
No Foreign Transaction Fees
Avoid FX fees when you travel abroad
Pros & Cons
Pros
- Earn 1% cash back on every purchase
- No annual, monthly, or foreign transaction fees
- High interest on account balance (up to 2.75% for premium clients)
- Instant approval regardless of credit score
Cons
- No built-in travel or purchase insurance
- Prepaid structure means no revolving credit or interest-bearing balances
- Limited to Canadian residents of legal age
- Lacks premium perks (e.g., lounge access, hotel/status benefits)
Legal
Wealthsimple is not responsible for maintaining the accuracy of information on this website. Refer to Wealthsimple's page for more details.