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CardUp offering 1.99% income tax payment promotion; buy miles from 1.22 cents

Milelion readers can enjoy a discounted rate of 1.99% on their tax payments up till 31 May.

Income tax season is upon us, and if you’re thinking of earning some miles when paying, here’s an offer for you.

CardUp is offering Milelion readers a special rate of 1.99% (normally: 2.6%) on income tax payments scheduled by 31 May 2019 with the promo code MILELIONTAX. This applies to payments made via Visa and Mastercard only.

To use this code, simply click on Schedule Payment…

Select Tax & Stamp Duty –> Income Tax

Enter your payment details, upload the supporting documentation and enter MILELIONTAX in the promo code field

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That’s it! You’ll see the discounted rate of 1.99% at the final screen.

The T&C for this promo code can be found here. This promo code can be used a maximum of once per user.

If this is your first ever payment with CardUp, you can opt to use the promo code MILELION instead and get $20 off a minimum payment of $1,000

  • If your tax amount is less than $1,000, you can only use MILELIONTAX
  • If your tax amount is $1,000 to $3,278, MILELION is a better deal if you’re eligible
  • If your tax amount is >$3,278, MILELIONTAX is a better deal

CardUp has teased that anyone who uses the MILELION or MILELIONTAX codes will receive a surprise promo code in June for their next payment. I don’t know what that is, but look out for it in your inbox.

You will need to submit a copy of your NOA to CardUp as supporting documentation, and you can only pay off your entire tax due amount. You won’t be able to pay in installments; IRAS doesn’t allow that through CardUp.

Also note that unlike the tax payment facilities offered by banks where funds are transferred to your account and you make the payment, CardUp makes payment directly to IRAS on your behalf.

How does this compare to other payment options?

Back in March, I wrote about the various methods of earning miles on your income tax payments. Since then, we’ve had some new developments so I’ve updated the table accordingly:

MethodProcessing FeeEarn RateCents Per Mile
Standard Chartered Visa Infinite (≥$2K spend p.m)1.6%1.41.14
HSBC Visa Infinite (≥$50K spend in prev year)1.5%1.251.20
CardUp with DBS Insignia/Citi Ultima/UOB Reserve1.99%1.61.22
HSBC Premier Mastercard0.5%0.41.25
Citi PayAll with Citi Ultima1.5% (targeted) or 2%1.60.94 or 1.25
CardUp with BOC Elite Miles World Mastercard1.99%1.51.30
CardUp with UOB PRVI Miles1.99%1.41.39
HSBC Visa Infinite (<$50K spend in prev year)1.5%1.01.50
CardUp with Citi Prestige1.99%1.31.50
Citi PayAll with Citi Prestige/PremierMiles AMEX1.5% (targeted) or 2%1.31.15 or 1.54
Standard Chartered Visa Infinite (<$2K spend p.m)1.6%1.01.60
CardUp with DBS Altitude/Citi PremierMiles Visa1.99%1.21.63
Citi PayAll with Citi PremierMiles Visa1.5% (targeted) or 2%1.21.25 or 1.67
HSBC Revolution0.7%0.41.75
DBS Insignia3.0%1.61.88
OCBC Voyage1.9%1.01.90
UOB Visa Infinite Payment Facility2.0%1.02.00
UOB PRVI Pay2.1%1.02.10

A quick word about the CardUp calculations: you may be wondering why the math to derive cents per mile is not Fee/MPD. That’s because the CardUp fee itself also earns miles. For example, if I pay $1,000 with my Citi Ultima card:

  • The total amount charged by CardUp is $1,000 + $19.90= $1,019.90
  • I earn $1,019.90*1.6≈ 1,632 miles
  • Cost per mile= 19.90/1,632=1.22 cents each

There are no 10X opportunities with CardUp, so there’s no point using cards like the DBS Woman’s World and Citi Rewards. All general spending cards should earn points for income tax payments with CardUp, so stick to these and you’ll be fine.

Have a read of this post for the full list of options available when paying income tax.

Conclusion

A 1.99% fee represents a great opportunity to pick up miles for less, so be sure to schedule your payments before 31 May 2019.

You can also refer your friends to CardUp and get $20 for every new user who makes a payment, plus a bonus $30 (till 30 June) when three friends make an income tax payment with your code.


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Terence
Guest
Terence

Wonder if this will work with the new uob krisflyer card…

Kelvin
Guest
Kelvin

Which other card should we use with cardup? Thanks!

Financialmtc
Guest

General spend card

boo
Guest
boo

does ocbc voyage get points with cardup?
if so then ocbc premier/BOS voyage will get 1.6mpd?

Talan
Guest
Talan

Hi Aaron,
Can we have this extended please? Will get by NOA earliest first week of June…

NewBie
Guest
NewBie

log in iras and check for the past few years, the NOA dated on JUN or JUL.

cheesecake
Guest
cheesecake

A disadvantage of CardUp is the inability to pay by smaller amounts – for those who don’t wish to pay off their entire tax amount. Ipaymy however allows that.

Also not sure why CardUp has limited period each month for payment to IRAS, whereas ipaymy doesn’t.

C
Guest
C

No Amex card for this promo. Got my eyes blink blink for awhile.

kevwong83
Member
kevwong83

Will this work for IRAS property tax? Or isit limited to just income tax?

Will
Guest
Will

Hello I noticed u haven’t mentioned pairing the Amex plat charge card with the Cardup service, do you know if that is possible and if so is it “worth it”? Thanks !!

s
Guest
s

Ipaymy is also holding similar promotion.

Kelvin
Guest
Kelvin

Can we use BOC EM card for this? Just concern that it will be crawl back?

Daniel
Guest
Daniel

Is CardUp a good platform for insurance premiums too?

Desmond Sim
Guest
Desmond Sim

Ipaymy is back accepting personal sign ups. Is it better than CardUp?

YT
Guest
YT

Hi, your article states that scheduling payments through the bank will allow for them to credit your account with the funds. But I called Citibank to ask if that was the case for Payall and was informed that the funds are credited directly to the organization? Would be grateful for a clarification as this would affect my decision on which service to use

Xman
Guest
Xman

Just paid my tax with the UOB KF card, wonder what would the teased promo code be.