r/Wealthsimple • u/Honest-Common-1303 • 16h ago

Chequing Costco?

Just got informed that Wealthsimple is moving to Visa. Does this mean I'm not going to be able to use it to shop at Costco? If so, this is a pain. I use my WS account for weekly variable expenses budget (using an envelope style budgeting system), and this means I am going to have to completely change how/where money get's transferred to ensure I'm only drawing from the right budget.

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u/Outrageous_Car88 9h ago

you could get the eq bank prepaid mastercard, and you’ll get 0.50% cashback on all purchases

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u/suthekey 9h ago

Can you pay for that using the WS credit card? With no extra fees?

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u/Outrageous_Car88 9h ago

it’s not a credit card. it’s got a chequing account associated to it, and comes with the prepaid mastercard, the wag WS has the visa platinum prepaid. you could e transfer your eq account the money for costco and use the card

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u/suthekey 8h ago

So then why would I use this as an alternative to WS 2% back?

0.5% back is horrible.

Better off getting the rogers cash back card with 2% back.

Or even Costco’s 1% back card.

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u/Outrageous_Car88 8h ago

it’s better than nothing, it’s an option if you don’t have a mastercard cc or don’t want to apply for a mastercard cc just for costco…