The Wealthsimple link in the card list below is a referral link — if you apply through it, we may receive a referral bonus. Other links to card issuers go directly to the issuer’s own website, and we receive nothing if you apply.
Could a five-card system beat one flat-rate card on your actual spending? Enter your monthly spending and this tool recommends specific cards – it tests three wallets against your numbers and tells you which one earns the most, card by card.
Compare the three wallets
Why a system can beat one card
One flat-rate card is simple: the Rogers Red World Elite Mastercard pays 2% on everything if you have a Rogers, Fido or Shaw service (1.5% without), and the Wealthsimple Visa Infinite Privilege pays a flat 2% with no foreign-transaction fee. But both leave money behind where a category card pays more – groceries and restaurants can earn 5% with the National Bank World Elite Mastercard or the American Express Cobalt Card, and gas can earn 3% with the CIBC Costco Mastercard.
The gap between the wallets depends entirely on your spending. Heavy grocery and restaurant spending with modest total spending favours the five-card system; lots of foreign-currency spending favours a card with no foreign-transaction fee. Run your numbers above – and read the story of the five-card system in The Five-Card Wallet: A System for Every Dollar.
The cards in this comparison
- Rogers Red World Elite Mastercard – $0 annual fee. Flat cash back on everything, and the engine of the one-card wallet: 2% with a Rogers, Fido or Shaw service, 1.5% without, plus 3% on USD purchases. Rogers terms change November 18, 2026 – the redemption bonus ends and some travel insurance is removed; this model uses the current terms.
- National Bank World Elite Mastercard – $150 per year. Groceries and restaurants earn 5 points per $1 while your monthly groceries-and-restaurants spend on this card is $2,500 or less, and it triples the manufacturer’s warranty, up to two extra years – the best warranty benefit in this comparison.
- American Express Cobalt Card – $191.88 per year ($15.99 per month). 5 points per $1 on eats and drinks, up to $2,500 of category spend a month – the groceries-and-restaurants engine of the points-maximizer wallet.
- Scotiabank Passport Visa Infinite Card – $150 per year. No foreign-transaction fee, so foreign spending keeps its full value; it also earns 2 points per $1 on groceries and dining.
- Wealthsimple Visa Infinite Privilege – $240 per year, billed $20 a month, waived with $100,000+ at Wealthsimple or $4,000 a month in direct deposits. A flat 2% back on everything with no foreign-transaction fee – the foreign-spending card in the five-card system. You can earn a 5% cash back boost for 30 days when you join with our code wealthsimple.com/invite/6WWDIQ and get approved for the 2% Wealthsimple credit card. T&Cs apply.
- CIBC Costco Mastercard – $0 annual fee. 3% at Costco gas and restaurants – the gas card in the five-card system, for Costco members.
Rates verified November 8, 2026. All points are valued at 1 cent, and foreign-currency purchases are treated as USD. The National Bank tier is based on the groceries and restaurants charged to the National Bank card each month, and the CIBC Costco gas rate is simplified to 3% on the first $5,000 of gas a year, then 1%. Estimates only – check current card terms before applying. This tool is not financial advice.