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.

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.

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.

Card	Earn Rate	Sweet Spot Before 1.75% Fee	Effective Gain
Maybank Platinum Visa	3.33%	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) or S$100 – S$51.57 = S$48.43 (1.64% cashback)
OCBC FRANK	3.125%	S$786.25	S$25 – S$13.75 = S$11.25 (1.44% cashback)
Bank of China Family	3%	S$786.25	S$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:

Card	Earn Rate	Cost Per Mile
1.6 miles per dollar cards (e.g. DBS Insignia, Citi ULTIMA, UOB Reserve)	1.6 miles per dollar	1.07¢
DBS Vantage	1.5 miles per dollar	1.15¢
UOB PRVI Miles	1.4 miles per dollar	1.23¢
OCBC 90°N	1.3 miles per dollar	1.32¢
1.2 miles per dollar cards (e.g. DBS Altitude)	1.2 miles per dollar	1.43¢

Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.

He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.

Subscribe to the channel for free updates!

Disclaimer: I may receive an affiliate/referral fee when you sign up for services/products on this site, and such fees keep the site running. I would only recommend services/products I would personally use or recommend to my own friends and family, but I do not provide any warranty or guarantee for the quality of these services/products. Thank you for supporting my site!

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 opinion, and none of the information here constitutes personal financial advice nor represents the views of my employer(s).