Credit Cards Deals

CardUp matches ipaymy in the battle for your 2020 income tax payment with 1.75% fee

CardUp matches the market-leading 1.75% fee offered by ipaymy for your 2020 IRAS income tax payment with a special code for Mainly Miles readers

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Card payments company CardUp rolled out its 2020 income tax payment offer last week, allowing new users to pay a fee of as little as 1.89% when making their 2020 income tax payment.

Since then we’ve seen a number of shifts in the market, including a 1.75% offer from ipaymy, a 25% bonus miles deal from Citi for its PremierMiles card and a reduction in the service fee when using Standard Chartered’s EasyBill service for IRAS payments.

This week CardUp has launched a special offer for Mainly Miles readers, allowing them to pay their income tax bill with most Singapore-issued Visa and Mastercards at a 1.75% rate, matching the best available on the market, valid for payments between now and 23rd June 2020.

CardUp IT2020 v2 MM

1.75% fee for Mainly Miles readers

This discounted fee is now available if you’re paying your income tax by Singapore-issued Visa or Mastercard with the exception of cards issued by:

  • Citi
  • Standard Chartered

Payments must be scheduled before 23rd June 2020.

CardUp Trans

MM175TAX20 Visa Card White Mastercard Card White 2.6% 1.75%
One-time IRAS income tax payment with a Singapore-issued Visa or Mastercard.

Excluded Cards: Citi, Standard Chartered (2.25% fee applies)

Full terms and conditions can be found here.

This offer has the potential with some 1.6 mpd local earn rate cards to allow you to ‘buy’ miles of 1.07 cents each, a market-leading rate.

Even general spend cards at lower rates, like the BOC Elite Miles (1.5 mpd) come in at 1.15 cents per mile in cost terms.


What about the MM189TAX20 and MM199TAX20 codes?

CardUp informed us today that a few of you have already settled your income tax bill using the previous MM189TAX20 (1.89% fee) and MM199TAX20 (1.99% fee) codes over the last few days.

Don’t worry if you did!

The CardUp team will be in touch with you to offer additional discounts to make up for the difference in the fee you paid already, compared to this new 1.75% special reader rate.

2.4% fee for American Express Card Members

CardUp is continuing to offer a discounted fee if you want to use your Singapore-issued American Express card to pay your income tax bill, at 2.4% (usually 2.6%).

Exceptions this time are:

  • American Express Cards issued by DBS Bank Limited
  • American Express Cards issued by United Overseas Bank Limited
  • American Express Corporate Card
  • American Express Singapore Airlines Business Credit Card

Payments must be scheduled before 23rd July 2020. Full terms and conditions can be found here.

CardUp Trans

AMEXTAX24 Amex Card White 2.6% 2.4%
One-time IRAS income tax payment with a Singapore-issued American Express card.

Excluded Cards: Amex Corporate Card, Amex Singapore Airlines Business Credit Card, Amex Cards issued by DBS and Amex cards issued by UOB (regular 2.6% fee applies)

Enter code AMEXTAX24 to take advantage of this offer.


2.25% on other Visas / Mastercards

If you wish to use a Citi or Standard Chartered Visa or Mastercard credit card to pay your income tax bill, you can pay a 2.25% fee under CardUp’s ongoing promotion for all payments made between now and the end of June 2020.

Enter code GET225 to take advantage of this offer.

Cost per mile

Here’s how the cost per mile stacks up for some popular miles-earning Visa and Mastercard credit cards in Singapore.

2020 Income tax payment
Visa / MC via CardUp
Card Miles per S$1 Cost per mile
1.75% fee
$UOB Reserve CardUOB Reserve 1.6 1.07¢
Card.pngBOC EM 1.5 1.16¢
Card Trans.pngUOB PRVI Miles 1.4 1.23¢
Card.jpgOCBC Voyage
(from 1 Jun)
1.3 1.32¢
Card 2KrisFlyer UOB 1.2 1.43¢
Altitude Card.jpgDBS Altitude Visa 1.2 1.43¢
Card.jpgOCBC Voyage
(until 31 May)
1.2 1.43¢
HSBCviNEW.pngHSBC VI 1.0 1.72¢

There’s some value here too for American Express cards, with the Platinum Charge card currently boasting a double miles promotional rate between now and 20th July 2020.

2020 Income tax payment
Amex via CardUp
Card Miles per S$1 Cost per mile
2.4% fee
CardAmex Platinum Charge 1.56* 1.50¢*
AscendCCAmex KF Ascend 1.2 1.95¢