Overview

You can request an increase to your credit limit directly through the Wealthsimple app. This allows you to potentially access more spending power on your Wealthsimple Visa Infinite* or Visa Infinite Privilege* credit card without needing to contact support.

Eligibility

• Card status: Your card must be unlocked to request an increase. If your card is locked, you'll see a prompt to unlock it before you can proceed.
• Account age: Generally, you must be a cardholder for at least 6 months before you're eligible for an increase.
• Credit report status: Your report with the credit bureau must not be frozen in order to request an increase. This is not something that we can control or do for you. Once unfrozen, we have to wait for updated information from the bureau, which can take up to a month. Please try again in-app after a few weeks.

How to request an increase

Follow these steps to request a credit limit increase:

1. Log in to the Wealthsimple app
2. Tap the Home tab at the bottom of the screen
3. Select your credit card account.
4. Tap the Settings (gear icon) in the top right corner
5. Tap Increase your credit limit
6. Follow the prompts to submit your request

After you submit your request

In most cases, you will receive an instant decision. However, some requests require a manual review:

• If your request needs further review, you will see a screen titled We're on it!
• Our team will review your request and contact you via email within 7 business days to discuss next steps.

Why you might be declined for an increase

If you aren't currently eligible for an increase, you'll see a specific reason for the decline in the app. Our support team can't provide more information than what is displayed in the app. Common reasons include:

• Your account is too new: Your credit card account needs to be active for 6-8 months before you can request an increase.
• Recent increase: If you recently increased your limit, you usually need to wait 6–8 months before increasing it again.
• Building your financial profile: We may need more information about your credit card usage or financial profile at Wealthsimple. Using your card frequently for everyday purchases or using more Wealthsimple features can help build this profile.
• Credit history: We use your credit history to help determine eligibility. You can improve this by paying off other credit cards, cancelling other credit applications, or catching up on missed payments.
• Maximum limit reached: You may already have the highest limit we offer based on your credit history, card usage, and Wealthsimple plan.
• You already increased your limit: You got a limit increase during our beta program for this feature.

Frequently asked questions

*Trademark of Visa Int., used under license.