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 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 revenue tax to IRAS (that will in any other case not have earned you any rewards), a number of of you have got reached out to me to ask if the financial institution fee amenities – Citi PayAll, SC EasyBill, UOB Fee 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 scale back the admin charge charges. However they’re not the one one, as the varied banks have additionally run time-sensitive promo codes to attempt as they every combat 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 Price | 1.75% (Visa) 1.8% (AMEX – new) 1.9% (AMEX – current) 1.99% (MasterCard) |
2.6% (beforehand 2.2%) | As much as 1.9% (slight discount from 1.99%) |
1.9% – 2.3% (varies by playing cards)
(previously 1.7% – 2.2% for one-off, or 2.8% – 4.7% for month-to-month instalments) |
| Downsides | Promo charges final till Aug 2024.
Can’t use AMEX playing cards. |
Minimal spend of S$8,000 applies. | No choice for recurring funds i.e. you must 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 must pay in full. Prices 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 determine:
Should you’re a UOB cardholder, utilizing the UOB Fee Facility is likely to be greatest for limitless miles, albeit at a 2% admin charge. However should you’re utilizing the UOB PRVI Miles, then CardUp can be a more sensible choice as you’ll pay decrease charges (1.75% vs. 2.3%) and earn a better 1.4 mpd relatively than simply 1 mpd.
Should you’re a Customary Chartered cardholder who can repay your whole revenue tax in full directly, then the SC EasyBill would possibly serve you higher.
Should you’re a Citibank cardholder, you may get 2 mpd whenever you select to pay by way of Citi PayAll to your tax transactions, and 1.6 mpd on all Citi PayAll non-tax transactions. The draw back? Each affords require a minimal spend of S$5,000 on non-tax transactions on a single card, which is unhealthy information for you guys who’re simply hoping to pay their taxes and nothing else.
Should you’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.
In fact, if not one of the above financial institution fee facility choices swimsuit you, then you could wish to use CardUp as an alternative…which is what I personally do.
Should 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 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’t earn rewards and haven’t been ready to make use of it there.
Use CardUp should you want recurring funds
Should you’re paying your revenue tax in month-to-month instalments, CardUp is your best 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 (until you’re utilizing a MasterCard):
| Visa | MasterCard | |
| Promo code | BBTAX24 | MCTAX24 |
| Price cost | 1.75% | 1.99% |
| Fee sort | One-off and recurring | One-off and recurring |
| Expiry date | Have to be scheduled earlier than 31 August 2024 | Have to be scheduled earlier than 31 August 2024 |
You even have much more flexibility in the case of which bank card you should use with the service, relatively than being restricted to the financial institution’s personal playing cards. Apart from HSBC playing cards, you should use playing cards from actually each different issuer on CardUp – though you could wish to be sensible about which card you utilize 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 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
- Customary Chartered Visa Infinite (on native spend >S$2k a month)
In any other case, the 1.2 mpd class additionally has the widest vary of mass-market playing cards that may be paired with CardUp:
- Citi PremierMiles
- DBS Altitude
- Maybank Visa Infinite
- Krisflyer UOB
Should you’re privileged sufficient to personal a by-invite-only high-end card just like the DBS Vantage, DBS Insignia, Citi ULTIMA or UOB Reserve, then you possibly can doubtlessly earn a better 1.6 mpd in your CardUp funds.
If that is your first time utilizing CardUp, use the code BUDGETBABE to save lots of 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 (primarily based on CardUp’s common admin charge of two.6%).
Or use BBTAX24 to get the bottom 1.75% charges to your revenue tax funds.
In fact, until 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 BUDGETBABE as an alternative.
But when your CardUp fee 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 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 might have in any other case earned! 😉
Save in your CardUp funds whenever you use my affiliate promo codes BBTAX24 (to your revenue tax) or BUDGETBABE (for each different fee sorts).
With love,
Price range Babe
