CardUp offering 1.8-1.9% fee for AMEX cardholders; buy miles from 1.36 cents

CardUp has launched a new promotion for American Express cards, which offers new and existing CardUp customers a 1.8% and 1.9% admin fee respectively for payments scheduled by 31 August 2024.

This is similar to the offer we saw in November 2023, and comes at an opportune time for those looking to make income tax payments, or simply meet the minimum spend on a welcome offer (remember: AMEX is offering some incredible deals right now, even for existing cardholders).

With a 1.8% or 1.9% admin fee, the cost per mile starts from 1.36 cents (new) or 1.43 cents (existing), depending on which AMEX card you hold.

CardUp offers for AMEX cards

This offer is valid for all CardUp payments, including income tax, rent, insurance and school fees.

However, do note that due to compliance regulations imposed by American Express, AMEX cards are not supported for certain CardUp payments such as car loans and helper salaries.

Explained: American Express restrictions on CardUp payments

All Singapore-issued AMEX cards are eligible, with the exception of:

• AMEX True Cashback Card
• AMEX HighFlyer Card
• AMEX Corporate Cards
• AMEX cards issued by DBS and UOB

New CardUp Users (1.8%)

Code	18AMEX24
Limit	120 total redemptions (1x per user)
Admin Fee	2.6% 1.8%
Min. Spend	None
Cap	S$5,000
Schedule By	31 Aug 2024, 6 p.m (SGT)
Due Date By	4 Sep 2024
Payment Type	One-off payment, or first payment of a recurring series
18AMEX24 T&Cs

New CardUp users (defined as those who have yet to make their first payment on the platform) can use the code 18AMEX24 to enjoy a 1.8% admin fee on their first payment.

The payment must be scheduled on CardUp between 1 May 2024 and 31 August 2024 before 6 p.m (SGT), with a due date between 2 May 2024 and 4 September 2024.

No minimum payment is required, but there is a cap of S$5,000. Any amount exceeding S$5,000 will be subject to the prevailing 2.6% fee. For example, if you have a payment of S$6,000, S$5,000 will be charged 1.8%, and S$1,000 will be charged 2.6%. 

The code can be used either on a one-off payment, or the first payment of a recurring series, and a maximum of 120 redemptions are permitted (one redemption per user). You’ll be able to see if the promo code is still available before confirming your payment.

Existing CardUp Users (1.9%)

Code	19AMEX24
Limit	250 total redemptions (1x per user)
Admin Fee	2.6% 1.9%
Min. Spend	None
Cap	S$5,000
Schedule By	31 Aug 2024, 6 p.m (SGT)
Due Date By	4 Sep 2024
Payment Type	One-off payment, or first payment of a recurring series
19AMEX24 T&Cs

Existing CardUp users can use the code 19AMEX24 to enjoy a 1.9% admin fee on their first payment of any kind. 

The payment must be scheduled on CardUp between 1 May 2024 and 31 August 2024 before 6 p.m (SGT), with a due date between 2 May 2024 and 4 September 2024.

No minimum payment is required, but there is a cap of S$5,000. Any amount exceeding S$5,000 will be subject to the prevailing 2.6% fee. For example, if you have a payment of S$6,000, S$5,000 will be charged 1.9%, and S$1,000 will be charged 2.6%. 

The code can be used either on a one-off payment, or the first payment of a recurring series, and a maximum of 250 redemptions are permitted (one redemption per user). You’ll be able to see if the promo code is still available before confirming your payment.

Terms & Conditions

The AMEX T&Cs for this promotion can be found at the bottom of this page.

The Cardup T&Cs for this promotion can be found here.

What’s the cost per mile?

Here’s the cost per mile for various AMEX cards, given their earn rates and a 1.8% or 1.9% admin fee.

Card	Earn Rate	Cost Per Mile (1.8% fee)	Cost Per Mile (1.9% fee)
AMEX Solitaire PPS Card	1.3	1.36¢	1.43¢
AMEX PPS Card	1.3	1.36¢	1.43¢
AMEX KrisFlyer Ascend	1.2	1.47¢	1.55¢
AMEX KrisFlyer Credit Card	1.1	1.61¢	1.70¢
AMEX Centurion	0.98	1.80¢	1.90¢
AMEX Platinum Charge	0.78	2.27¢	2.39¢
AMEX Platinum Credit Card	0.69	2.56¢	2.70¢
AMEX Platinum Reserve	0.69	2.56¢	2.70¢

The cost per mile starts from 1.36 cents apiece, and even though this isn’t as low as some of the rates you could get with Visa or Mastercard, it’s as good as things get for AMEX cardholders.

CardUp transactions count towards minimum spend for AMEX welcome offers

CardUp transactions do count towards the minimum spend for AMEX welcome offers, so this promotion represents a great opportunity to get the job done.

For example, AMEX is currently offering its new customer welcome bonuses to existing AMEX cardholders for the following cards. 

	Annual Fee	Welcome Bonus	Min. Spend
AMEX Platinum Charge Apply	S$1,744	127,500 MR points	S$6,000 in 60 days
AMEX Platinum Credit Card Apply	S$327	58,750 MR points	S$1,000 in 30 days
AMEX KrisFlyer Ascend Apply	S$343	32,800 miles*	S$1,000 in 30 days

Given a 1.9% fee up to S$5,000 and a 2.6% fee beyond that, you’d be paying S$121 (AMEX Platinum Charge) or S$19 (AMEX Platinum Credit Card/AMEX KrisFlyer Ascend) to meet the minimum spend. I think that’s a very reasonable fee to pay to unlock the bonuses on offer. 

Keep in mind, those figures assume you clock the entire minimum spend via CardUp. In reality, most people will only need CardUp to cover the a portion of the difference (or may simply buy supermarket vouchers or Amazon gift cards). 

For more details on the existing customer offers, refer to the post below.

Extended: AMEX giving new customer welcome offers to existing customers

Other bill payment options

Of course, AMEX cards are not the cheapest way of paying your bills. If you’re looking to make bill payments, here’s some other offers to consider:

• Citi PayAll: 2 mpd for tax payments, 1.6 mpd for non-tax payments
• CardUp: 1.99% fee for income tax payments with Mastercard
• CardUp: 1.75% fee for income tax payments with Visa
• StanChart Visa Infinite: S$300 cashback on tax payment facility

For those of you looking to pay income tax specifically, be sure to check out my detailed guide for earning miles on 2024’s income tax bill.

2024 Edition: Earning credit card miles on IRAS income tax

Conclusion

CardUp is offering new and existing customers a discounted fee of 1.8% and 1.9% respectively when they make payment with an AMEX credit card. This reduces the cost per mile to as low as 1.36 cents, and allows you to clock some easy spend towards your welcome offer.

Codes are now live, so act fast before they’re gone.