What it does
I'm not aware of "Wild Card" being an official Magic: The Gathering keyword or ability. It doesn't appear in the comprehensive rules or on any printed cards that I can verify.
It's possible you're thinking of something else—perhaps a card with "Wild Card" in its name, a custom or unofficial mechanic, or a term from another game. There's also the "wildcard" system in MTG Arena, but that's a digital crafting currency, not a gameplay keyword and not relevant to tabletop Commander.
If you can point me to the specific card or set you saw this on, I can give you an accurate rules breakdown. I'd rather flag the uncertainty than invent rules text that could mislead you during a game.
Iconic cards with Wild Card
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