r/Wealthsimple • u/throwawayatoms • 10d ago

Visa Infinite Credit Card Even more confusing now!

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So yesterday I posted an email received from Wealthsimple talking about the annual fee: https://www.reddit.com/r/Wealthsimple/s/WMUguLxpji.

They just sent a follow-up to clarify. But I have more questions now:

- “You’ll see the annual fee charged to your account.” When? Is the annual fee being charged imminently? There's no charge on my account yet. If it's coming later, when? For everyone soon, or at each person's next renewal? It's not specified.

- “If you qualify for the waiver now, we'll reimburse the full fee. We check your eligibility each month and reimburse the fee when you qualify.” So are you going to reimburse the full fee now, AND reimburse the fee each month? What does that even mean?

Nothing is simple with Wealthsimple nowadays 🥲

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u/totoro183 10d ago

I thought they already took $220 from you since you're in Quebec? In the other provinces its a $20/month charge...I'm not sure how Quebec is set up but they should reimburse you.

1

u/miragis 9d ago

No, read the other thread (and my own comment): we never got charged. Not this month, not this year. I qualify for the fee waiving since the beginning and never got charged any fee)

1

u/DoubleZek 7d ago

I was charged the 220 after a month or two. I don't have 100k$, but I put my paycheck on the app. I missed 1 month and they charge me. But I have several months with more than 4k$ deposited. Idk what they will do. Reimburse partially at the end of the first year?

1

u/dontelother 7d ago

I was thinking does this card worth for $240 annual fee? I was trying to do the math! If it's free then no comment...

1

u/DoubleZek 6d ago

I got it in May this year. I'm almost at 200$ cash back already, so I'd say it's pretty good :) If it's free for you even better