CardUp Income Tax Promo: Opportunity to Get Up to 1.64% Cashback or Buy Miles From 1.07¢

It’s the season to pay the taxman again, and CardUp has a promo for your tax payments! Until 31st August 2023, you can use SETHTAX23 to pay with a Visa card for a discounted 1.75% fee for income tax payment.

The promo is also works for existing users!

New users might want to take advantage of the first-payment fee waiver first, then use this code as an existing user to enjoy both promos.

Opportunity for buying miles or enjoying cashback

When it comes to payment services like CardUp, the magic formula is always:

Rewards – Service Fee = Net Gain

Your goal would thus be to increase the rewards by using a good card (see below), and to decrease the service fee which this promo does.


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New user promo – get miles or cashback for free

If you are a new user, you are eligible for S$30 off the fee of your first payment. This would be a transaction of around S$1,150 for free! Use the link below and code SETHISFY to enjoy the offer.

There’s also an ipaymy new user promo you could take advantage of. If your tax bill is big enough, you could consider using CardUp to pay off S$1,150 and ipaymy to pay off S$1,330. That is S$2,480 worth of spending that’d get free cashback or miles!

You can thereafter use SETHTAX23 for your tax payments.


Until 6PM 26th December 2023

New user: sign up and use code SETHISFYGet S$30 off transaction fee

(free miles/cashback for a payment of about S$1,153!)
First transaction ≥ S$2,000
(by 6PM on 26th December 2023)
Receive S$20 eCapitaVoucher by 10th January 2024
Please read the terms and conditions for exact details.

Last updated 21st November 2023.


Ongoing promo

New user: sign up hereGet S$30 off transaction fee

(free miles/cashback for a payment of about S$1,333!)

Cashback cards to use for 1.75% promo

Because the income tax code also works for recurring payments, Maybank Platinum Visa is a great card to use, and you can split up your income tax into monthly payments with IRAS to meet the spend requirement of the card.

For more one-off transactions, OCBC FRANK and Bank of China Family cards should work nicely.

CardEarn RateSweet Spot Before 1.75% FeeEffective Gain
Maybank Platinum Visa3.33%S$294.85/month for 3 months; or
S$982.81/month for 3 months
S$30 – S$15.45 = S$14.55
(1.64% cashback)
S$100 – S$51.57 = S$48.43
(1.64% cashback)
OCBC FRANK3.125% S$786.25S$25 – S$13.75 = S$11.25
(1.44% cashback)
Bank of China Family3%S$786.25S$24 – S$13.75 = S$10.25
(1.30% cashback)

Miles cards to use for this promo

Whether to buy miles depends on your valuation of each mile. If you value business class flights and/or redeem promotional fares, buying miles can be a very worthwhile endeavour:

CardEarn RateCost Per Mile
1.6 miles per dollar cards (e.g. DBS Insignia, Citi ULTIMA, UOB Reserve)1.6 miles per dollar1.07¢
DBS Vantage1.5 miles per dollar1.15¢
UOB PRVI Miles1.4 miles per dollar1.23¢
OCBC 90°N1.3 miles per dollar1.32¢
1.2 miles per dollar cards (e.g. DBS Altitude)1.2 miles per dollar1.43¢

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Please exercise due diligence when signing up for any service/product as I will not be liable for any personal loss, financial or otherwise. Content published here are my sole views and personal opnion, and none of the information here constitutes personal financial advice nor represents the views of my employer(s).

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