Disclaimer: My bias in the direction of CardUp is actual, particularly given the way it has been a fail-proof answer for me for the final 6 years. However right here’s how the opposite choices at present stack up anyway, and how one can determine for your self.
Since my current article on how you should use CardUp to earn miles whereas paying your earnings tax to IRAS (that might 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 cost amenities – Citi PayAll, SC EasyBill, UOB Cost Facility – can be higher.
The excellent news is, CardUp in all probability is aware of this as properly, which could clarify why they’ve launched promo codes to cut back the admin charge charges. However they’re not the one one, as the varied banks have additionally run time-sensitive promo codes to strive as they every battle so that you can pay your taxes via them.
So…as a shopper, what do you have to select?
Right here’s the most recent on present charges (after promo):
| Cardup | Citi PayAll | SC EasyBill | UOB Cost Facility | |
| Admin Price | 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 choice for recurring funds i.e. you must pay your complete earnings tax in full directly. | Promo charges finish the earliest i.e. on 30 June 2023. One-off solely i.e. you must pay in full. Prices and rewards (mpd) varies between UOB playing cards (examine right here). |
The most important trade-off with utilizing your financial institution cost facility is that they both require you to make your tax cost in full, or impose a minimal spend. But when that isn’t an issue for you, then right here’s the way you may wish to determine:
In case you’re a UOB cardholder who can act quick to arrange and get your tax cost accepted by UOB by 30 June 2023, then utilizing the UOB Cost Facility is likely to be greatest. However if you happen to’re utilizing the UOB PRVI Miles, then CardUp can be a more sensible choice as you’ll earn 1.4 mpd moderately than simply 1 mpd.
In case you’re a Normal Chartered cardholder who can repay your complete earnings tax in full directly, then the SC EasyBill may serve you higher.
In case you’re a Citibank cardholder who will pay a minimum of S$8,000 and also you don’t thoughts the two.2% admin cost, then Citi PayAll might be a very good choice. Pairing together with your Citi PremierMiles card, for example, earns you 2.2 mpd which is a reasonably respectable fee! And if you happen to’re a brand new person, you’ll even get a $50 GrabGift voucher as extra perks.
In case you’re a HSBC cardholder, you’d be foolish to make use of your HSBC card now that HSBC has discontinued its Revenue Tax Cost Programme, and particularly excludes CardUp funds from incomes rewards.
In fact, if not one of the above financial institution cost facility choices swimsuit you, then you could wish to use CardUp as an alternative…which is what I personally do.
In case you’re questioning why I’ve not included iPayMy on this listing, that’s as a result of they’re nearly much like CardUp (which I personally use) and at present cost a better charge for earnings tax funds made this 12 months, even after the promo charges. Additionally, the cardboard I exploit for earnings tax funds is a UOB card, which particularly excludes iPayMy so I can’t earn rewards and haven’t been in a position to make use of it there.
Use CardUp if you happen to want recurring funds
In case you’re paying your earnings tax in month-to-month instalments, CardUp is the only option amongst all the above choices, as a result of you’ll be able to arrange recurring funds each month and nonetheless benefit from the promotional charges (until you’re utilizing a MasterCard):
| Visa | AMEX | MasterCard | |
| Promo code | VTAX23 | AMEX18 (new) AMEX19 (current) |
MCTAX23 |
| Price 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 on the subject of which bank card you should use with the service, moderately than being restricted to the financial institution’s personal playing cards. Except 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 have been to undergo the financial institution’s cost facility as an alternative.
For many of us, 1.4 mpd is the candy spot with many playing cards providing that earn fee on CardUp, together with however not restricted to:
- UOB PRVI Miles
- UOB Visa Infinite Metallic
- Normal 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
In case you’re privileged sufficient to personal a by-invite-only high-end card just like the DBS Insignia, Citi ULTIMA or UOB Reserve, then you’ll be able to doubtlessly earn a better 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 cost of as much as S$1,154 (based mostly on CardUp’s common admin charge of two.6%).
In fact, until your cost on CardUp is exceptionally excessive, not one of the promo codes can battle with the S$30 financial savings you’ll get if and once you use SGBUDGETBABE as an alternative.
But when your CardUp cost 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 together 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 once you use my affiliate promo code SGBUDGETBABE
With love,
Price range Babe