Credit Cards Deals

CardUp further extends income tax promo, plus new 1.85% fee offer in August

CardUp's 1.75% income tax promo fee has been extended to the end of 2021, plus a 1.85% offer has been launched on up to two payments this month, to celebrate National Day.

Only a couple of weeks ago CardUp extended its 1.75% income tax offer for payment due dates into early September, and now there’s been another extension to the deal right through to the end of 2021.

You’ll now be able to use the CUTAX2021 code for payments scheduled on or before 26th December 2021, with payment due dates on or before 7th January 2022.

The card payments provider has also added a National Day promotion with a 1.85% fee up to two payments of any type, or for the first payment in a recurring series, in addition to the ongoing 1.85% deal for recurring payments.


 

 

Income tax offer

Here’s a reminder of CardUp’s income tax payment offers this year, starting at 1.75% fee.

CUTAX2021 Visa Card White Mastercard Card White 2.6% 1.75%
One-time IRAS income tax payment with a Singapore-issued Visa, Mastercard or UnionPay credit card.

Instead of setting up your payment by 24th August 2021 for a payment due by 7th September 2021, you can now set up the payment by 26th December 2021 with a due date as late as 7th January 2022.

This is a one-time use promo code, so to maximise the value you should pay your annual tax as a single lump sum where possible.

Updated terms and conditions can be found here.

Cost per mile examples
@ 1.75% fee

$UOB Reserve 3.png
Citi Ultima Trans.png
Card MC
image_standard-chartered-visa-infinite@2x02.png
Card2019 Small
Card
Altitude Card.jpg
1.6 mpd
1.4 mpd
1.3 mpd
1.2 mpd
1.07¢
per mile
1.23¢
per mile
1.32¢
per mile
1.43¢
per mile

Even with one of the widely-held 1.2 mpd cards like the DBS Altitude Visa and Citi PremierMiles options, an effective cost per mile of 1.43 cents is competitive.

For those lucky enough to have 1.6 mpd earning cards, the cost per mile drops to an excellent 1.07 cents.

For American Express cardholders, a 2.4% fee is available, though this offer remains for payment due date windows to 7th September 2021.

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

There’s also a 2.2% income tax payment fee offer for those new to CardUp using an American Express card (AMEXTAXNEW), also for payment due dates through 7th September 2021.

Terms and conditions for the Amex codes can be found here.

Cost per mile examples
@ 2.4% fee

AscendCC AMEXKFbluelarge
1.2 mpd
1.1 mpd
1.95¢
per mile
2.13¢
per mile

As you can see you’ll want to avoid using the Amex KrisFlyer co-brand cards if you can – the cost per mile is too high to guarantee good value from your miles in most cases.

Before you make a decision on miles earning with your income tax payment this year, be sure to check out our detailed and continually updated analysis of the options available across all the providers, since there are some great deals to be had this year depending on which cards you hold.

Pro Tip: Paying income tax by GIRO? See our recent article on how you can use both CardUp and ipaymy’s promo codes and then revert to the ipaymy recurring payment option to optimise the lowest cost miles earning strategy for your monthly instalments this year.

National Day promotion

CardUp has launched a National Day promotion, allowing you to make up to two payments during the month of August 2021 with a discounted fee of 1.85%.

SGBIRTHDAY2021 Visa Card White Mastercard Card White 2.6% 1.85%
Up to two payments in August 2021 with a Singapore-issued Visa, Mastercard or UnionPay credit card.

You can use the code once or twice during August to make:

  • A one-time payment; or
  • The first payment in a recurring series; or
  • A one-time payment and the first payment in a recurring series; or
  • The first payment in a recurring series and a one-time payment; or
  • Two one-time payments; or
  • Two first payments in two separate recurring series

Why would you use the code in a recurring series when CardUp has an existing 1.85% offer for the first six recurring payments already? Well that offer is only good for Singapore-issued Visa cards and can only be applied up to three times per user.

This could therefore be an opportunity to get the first payment in a recurring series with a Mastercard at a good rate, or with a Visa card if you’ve already exhausted your trio of RECURRING185 code uses!

There is no upper spend cap for the National Day promo, but the offer is not valid for American Express credit cards and is limited to the first 300 users who redeem the code, so you may want to set up your payment(s) sooner rather than later to avoid missing out.

Cost per mile examples
@ 1.85% fee

$UOB Reserve 3.png
Citi Ultima Trans.png
Card MC
image_standard-chartered-visa-infinite@2x02.png
Card2019 Small
Card
Altitude Card.jpg
1.6 mpd
1.4 mpd
1.3 mpd
1.2 mpd
1.14¢
per mile
1.30¢
per mile
1.40¢
per mile
1.51¢
per mile

Terms and conditions can be found here.

The deal comes in slightly cheaper than ipaymy’s offer for up to two one-time payments at a 1.89% fee during August, under a similar offer, but you could stack these two deals and pick up four one-time payments this month at:

  • 1.85% (CardUp #1)
  • 1.85% (CardUp #2)
  • 1.89% (ipaymy #1)
  • 1.89% (ipaymy #2)

CardUp is also promising a special deal on National Day itself (Monday 9th August 2021) for the first 56 redemptions.

You’ll need to be following CardUp on Instagram to see the offer first!

Citi cardholder? PayAll has better offers

Before you dive in with the latest promo codes, there’s a much better miles earning offer available if you hold one of the following Citi credit cards:

That’s because Citi has hiked the earn rate on all six cards to 2.5 mpd for PayAll transactions made between now and 31st August 2021, capped at S$120,000 total spend, which means buying miles at just 0.8 cents each, even with the higher transaction fee of 2%.

The deal also stacks with a recurring payment offer including S$100 cashback, for fee-free miles in some cases.


 

 

Summary

A nice extension through to the end of 2021 for CardUp’s main income tax payment offer, allowing you to generate miles using Mastercard and Visa credit cards from as little as 1.07 cents.

You can set up payments by 26th December 2021, with the payment due date as late as 7th January 2022.

CardUp has also added a 1.85% fee offer for up to two one-time payments in August 2021, or the first payment in a recurring series.

That comes in as the cheapest way to earn miles right now (provided you don’t have a Citi credit card), which you can also stack with ipaymy’s 1.89% deal for up to two one-time payments this month for a total of four competitively priced transactions.

Also, be sure to stay tuned to the CardUp Instagram page on 9th August for a special deal, limited to the first 56 uses.

(Cover Photo: CardUp)

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