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Disclaimer: My bias in direction of CardUp is actual, particularly given the way it has been a fail-proof resolution for me for the final 6 years. However right here’s how the opposite choices at the moment stack up anyway, and how one can resolve for your self.
Since my current article on how you should use CardUp to earn miles whereas paying your revenue tax to IRAS (that may in any other case not have earned you any rewards), just a few of you’ve got reached out to me to ask if the financial institution fee amenities – Citi PayAll, SC EasyBill, UOB Cost Facility – can be higher.
The excellent news is, CardUp most likely is aware of this as nicely, which could clarify why they’ve launched promo codes to cut back the admin payment charges. However they’re not the one one, as the varied banks have additionally run time-sensitive promo codes to strive as they every combat so that you can pay your taxes by them.
So…as a client, what do you have to select?
Right here’s the most recent on present charges (after promo):
| Â | Cardup | Citi PayAll | SC EasyBill | UOB Cost Facility |
| Admin Payment | 1.75% (Visa) 1.8% (AMEX – new) 1.9% (AMEX – current) 1.99% (MasterCard) |
2.20% | As much as 1.99% | 1.7% – 2.2% (one-off) 2.8% – 4.7% (month-to-month instalments) |
| Downsides | Promo charges final till Aug / Sept 2023. Can not use HSBC playing cards. |
Minimal spend of S$8,000 applies. | No possibility for recurring funds i.e. it’s important to pay your whole revenue tax in full directly. | Promo charges finish the earliest i.e. on 30 June 2023. One-off solely i.e. it’s important to pay in full. Costs and rewards (mpd) varies between UOB playing cards (examine right here). |
The largest trade-off with utilizing your financial institution fee facility is that they both require you to make your tax fee in full, or impose a minimal spend. But when that isn’t an issue for you, then right here’s the way you would possibly wish to resolve:
If you happen to’re a UOB cardholder who can act quick to arrange and get your tax fee authorised by UOB by 30 June 2023, then utilizing the UOB Cost Facility is likely to be finest. However when you’re utilizing the UOB PRVI Miles, then CardUp will likely be a more sensible choice as you’ll earn 1.4 mpd somewhat than simply 1 mpd.
If you happen to’re a Customary Chartered cardholder who can repay your whole revenue tax in full directly, then the SC EasyBill would possibly serve you higher.
If you happen to’re a Citibank cardholder who will pay at the least S$8,000 and also you don’t thoughts the two.2% admin cost, then Citi PayAll could possibly be possibility. Pairing along with your Citi PremierMiles card, as an illustration, earns you 2.2 mpd which is a reasonably first rate price! And when you’re a brand new person, you’ll even get a $50 GrabGift voucher as further perks.
If you happen to’re a HSBC cardholder, you’d be foolish to make use of your HSBC card now that HSBC has discontinued its Earnings Tax Cost Programme, and particularly excludes CardUp funds from incomes rewards.
After all, if not one of the above financial institution fee facility choices swimsuit you, then you could wish to use CardUp as a substitute…which is what I personally do.
If you happen to’re questioning why I’ve not included iPayMy on this checklist, that’s as a result of they’re nearly just like CardUp (which I personally use) and at the moment cost the next payment for revenue tax funds made this 12 months, even after the promo charges. Additionally, the cardboard I exploit for revenue tax funds is a UOB card, which particularly excludes iPayMy so I can not earn rewards and haven’t been ready to make use of it there.
Use CardUp when you want recurring funds
If you happen to’re paying your revenue tax in month-to-month instalments, CardUp is the only option amongst the entire above choices, as a result of you possibly can arrange recurring funds each month and nonetheless benefit from the promotional charges (except you’re utilizing a MasterCard):
| Â | Visa | AMEX | MasterCard |
| Promo code | VTAX23 | AMEX18 (new) AMEX19 (current) |
MCTAX23 |
| Payment cost | 1.75% | 1.8% – 1.9% | 1.99% |
| Cost kind | One-off and recurring | One-off and recurring | One-off solely |
| Expiry date | Have to be scheduled earlier than 30 September 2023 | Have to be paid earlier than 22 September 2023 | Have to be scheduled earlier than 31 August 2023 |
You even have much more flexibility in the case of which bank card you should use with the service, somewhat than being restricted to the financial institution’s personal playing cards. Aside from HSBC playing cards, you should use playing cards from actually each different issuer on CardUp – though you could wish to be good about which card you employ by checking right here first.
Which bank card do you have to use on CardUp?
Personally, I’ve used my UOB PRVI Miles with CardUp since 2017 as a result of it has been incomes me a candy 1.4 mpd all through all these years. There’s no competitors, particularly when the identical card solely will get me 1 mpd if I had been to undergo the financial institution’s fee facility as a substitute.
For many of us, 1.4 mpd is the candy spot with many playing cards providing that earn price on CardUp, together with however not restricted to:
- UOB PRVI Miles
- UOB Visa Infinite Steel
- Customary Chartered Visa Infinite (on native spend >S$2k a month)
In any other case, the 1.2 mpd class additionally has a variety of playing cards that may be paired with CardUp:
- Citi PremierMiles
- DBS Altitude
- Maybank Visa Infinite
- Krisflyer UOB
If you happen to’re privileged sufficient to personal a by-invite-only high-end card just like the DBS Insignia, Citi ULTIMA or UOB Reserve, then you possibly can probably earn the next 1.6 mpd in your CardUp funds.
If that is your first time utilizing CardUp, use the code SGBUDGETBABE to avoid wasting S$30 off your first transaction with no minimal spend required. This lets you earn free miles on a fee of as much as S$1,154 (based mostly on CardUp’s common admin payment of two.6%).Â
After all, except your fee on CardUp is exceptionally excessive, not one of the promo codes can combat with the S$30 financial savings you’ll get if and whenever you use SGBUDGETBABE as a substitute.
But when your CardUp fee is something greater than $3,500, you then’ll be higher off utilizing both of the above promo codes – relying on whether or not you maintain a Visa / MasterCard / AMEX card.
Like this hack? Bear in mind to share it along with your family members to allow them to cease shortchanging themselves of miles they may have in any other case earned! 😉
Save in your CardUp funds whenever you use my affiliate promo code SGBUDGETBABE
With love,
Price range Babe
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