Understand credit bureau reporting for your Wealthsimple credit card

Yes. We report your credit card account activity to TransUnion on a monthly basis. This includes your account open date, credit limit, current balance, and payment history, among other account details. We report to TransUnion only; we don't report to Equifax at this time.

We didn't previously report credit card activity to any bureau, so this isn't a reflection of your credit standing. This is standard practice for credit card issuers: going forward, your account activity, including your payment history since it was opened, will be reported to TransUnion each month, and your responsible card use, including on-time payments, will be reflected in your credit profile.

Yes. Along with ongoing monthly reporting, we're backfilling account history back to June 2025, the month the Wealthsimple credit card launched to clients.

No. Only the primary cardholder's account is reported to TransUnion. The primary account holder carries the contractual responsibility for the account, so supplementary cards aren't reported separately.

It can, in both directions. On-time payments and low utilization generally have a positive effect on your credit score over time. Missed payments or high balances relative to your credit limit can have a negative effect.

A few habits tend to help over time: paying your bills on time, even the minimum payment counts if you can't pay in full, keeping your balance well below your credit limit, avoiding opening several new credit accounts in a short period, and checking your credit report regularly so you can catch and correct errors early. For more, see TransUnion's guides on what's considered a good credit score and how to build credit.

It's normal for your score to vary across credit bureaus, even without any new account being added. Each bureau builds its own file and uses its own scoring formula, and bureaus don't share data with one another, so a lender reporting to one bureau and not the other can create a gap between your scores. This isn't specific to Wealthsimple.

We review it to determine the type of issue, for example whether the account or inquiry isn't yours, or whether specific reported details like balance or payment history need correcting, and route it to the team best equipped to investigate. You'll be updated once it's resolved.

Credit bureau reporting is standard practice for credit card issuers and is covered in your cardholder agreement. We're not able to exclude individual accounts from reporting.

Your account will be reported to TransUnion on your first credit card statement date after the reporting launch. It may take a few weeks after that for it to appear on your TransUnion credit report.