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 presently stack up anyway, and how one can resolve for your self.
Since my current article on how you need to use CardUp to earn miles whereas paying your revenue tax to IRAS (that may in any other case not have earned you any rewards), a couple of of you will have reached out to me to ask if the financial institution cost amenities – Citi PayAll, SC EasyBill, UOB Fee Facility – can be higher.
The excellent news is, CardUp in all probability is aware of this as nicely, 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 struggle so that you can pay your taxes via them.
So…as a shopper, what do you have to select?
Right here’s the newest on present charges (after promo):
| Cardup | Citi PayAll | SC EasyBill | UOB Fee Facility | |
| Admin Charge | 1.75% (Visa) 1.8% (AMEX – new) 1.9% (AMEX – present) 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’t use HSBC playing cards. |
Minimal spend of S$8,000 applies. | No possibility for recurring funds i.e. you need 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. you need to pay in full. Fees and rewards (mpd) varies between UOB playing cards (verify right here). |
The largest 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 would possibly need to resolve:
For those who’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 Fee Facility is perhaps greatest. However for those who’re utilizing the UOB PRVI Miles, then CardUp might be a better option as you’ll earn 1.4 mpd quite than simply 1 mpd.
For those who’re a Customary Chartered cardholder who can repay your whole revenue tax in full directly, then the SC EasyBill would possibly serve you higher.
For those who’re a Citibank cardholder who will pay at the very least S$8,000 and also you don’t thoughts the two.2% admin cost, then Citi PayAll could possibly be a superb possibility. Pairing together with your Citi PremierMiles card, for example, earns you 2.2 mpd which is a reasonably respectable charge! And for those who’re a brand new person, you’ll even get a $50 GrabGift voucher as extra perks.
For those who’re a HSBC cardholder, you’d be foolish to make use of your HSBC card now that HSBC has discontinued its Revenue Tax Fee Programme, and particularly excludes CardUp funds from incomes rewards.
After all, if not one of the above financial institution cost facility choices go well with you, then chances are you’ll need to use CardUp as an alternative…which is what I personally do.
For those who’re questioning why I’ve not included iPayMy on this record, that’s as a result of they’re nearly much like CardUp (which I personally use) and presently cost the next charge for revenue tax funds made this yr, 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’t earn rewards and haven’t been ready to make use of it there.
Use CardUp for those who want recurring funds
For those who’re paying your revenue 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 (present) |
MCTAX23 |
| Charge cost | 1.75% | 1.8% – 1.9% | 1.99% |
| Fee sort | One-off and recurring | One-off and recurring | One-off solely |
| Expiry date | Should be scheduled earlier than 30 September 2023 | Should be paid earlier than 22 September 2023 | Should be scheduled earlier than 31 August 2023 |
You even have much more flexibility relating to which bank card you need to use with the service, quite than being restricted to the financial institution’s personal playing cards. Apart from HSBC playing cards, you need to use playing cards from actually each different issuer on CardUp – though chances are you’ll need to be sensible 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 cost facility as an alternative.
For many of us, 1.4 mpd is the candy spot with many playing cards providing that earn charge 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
For those who’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 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 cost of as much as S$1,154 (based mostly on CardUp’s common admin charge of two.6%).
After all, until your cost on CardUp is exceptionally excessive, not one of the promo codes can struggle with the S$30 financial savings you’ll get if and whenever you use SGBUDGETBABE as an alternative.
But when your CardUp cost is something greater than $3,500, then you definately’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 whenever you use my affiliate promo code SGBUDGETBABE
With love,
Finances Babe