Credit Cards For Paying Insurance Premiums (2021)

Please find the most up to date article here.

Insurance is one of the bigger recurring expenses we have, and it’s only natural to want to get rewards from paying for the premiums. Unfortunately, credit cards tend to exclude these transactions and you often get nothing for using your card. Here are some ways for you to get card rewards for paying your insurance policies.

If your policy accepts card payment directly

These Amex Cards + GrabPay Mastercard

American Express True Cashback

New to Amex Basic Cards

RequirementReward
New cardholder of Amex True CashbackBoosted 3% cashback on all eligible spend (except Grab-top) up to S$5,000 for the first 6 months
Fill up SingSaver Rewards Redemption Form and spend S$500 on eligible transactions within first 30 days from card approvalS$150 cashback
⚠️ No form = no reward

Tap here for terms and conditions (save a copy for future reference)

Last date to apply: 2nd May 2024

1.5% cashback on transactions except Grab top-ups

The Amex True Cashback has been the permissive card of choice to pay for insurance premiums. The recently launched UOB Absolute Cashback Card joins it as a nearly identical clone, except for a higher 1.7% earn rate.

Both cards are American Express cards which very few insurers accept. Fortunately, this can be sidestepped by first topping up your GrabPay Card with these cards for the cashback, then spending with your GrabPay Card.

Friz

Friz is a prepaid card that gives instant 1.75% cashback on anything that isn’t AXS or e-wallet top up transactions.

ActivityReward
Sign up here and use code WEE-wjcM4C
Spend S$500* or more (in one or multiple transactions); or
Successfully apply for Friz credit line; or
Get paid S$500 or more for invoices using Friz
S$20
Optional: make your first top up of at least $10 S$5
Bonus: spend S$500* or more (in one or multiple transactions)Stand a chance to win AirPods Max
*spend on e-wallets or AXS is excluded
Seth
Seth

🔥 Final day for S$200 welcome offer for Amex True Cashback; becomes S$150 from 22nd April onwards

Subscribe to the Telegram for more great deals and updates. Prefer email/WhatsApp? Tap here.

Maybank Cards

Maybank
Platinum

⚠️ Please remember to refer to Application Steps and complete all requirements

🔥 👍🏼

New to Maybank Customers

Apply for both an eligible Maybank Credit Card and a CreditAble Account, and make a min spend of S$600 per month on the credit card for 2 consecutive months. Choose:

  • A pair of American Tourister Linex 66/24 Luggage TSA; or
  • AirPods (3rd generation) with Lightning Charging Case; or
  • S$200 cash credit
  • 10,000 miles (only for Maybank Horizon)

Note that you need to apply for the CreditAble account, although you do not need to use it.

Application Steps

  1. Sign up here
  2. Note down the Application Reference number (at the end of Application, starts with REF-XXXXXXX)
  3. Fill up this Google form

Please view the terms and conditions here and save a copy for your reference.

Spend S$300, S$1,000, or S$2,000* per month for a quarter and get S$30, S$100, or S$200* cashback! That is 3.33% and it works for Cardup and ipaymy.

*S$2,000 tier from 1st October 2023 onwards

Maybank
Horizon

🔥 👍🏼

New to Maybank Customers

Apply for both an eligible Maybank Credit Card and a CreditAble Account, and make a min spend of S$600 per month on the credit card for 2 consecutive months. Choose:

  • A pair of American Tourister Linex 66/24 Luggage TSA; or
  • AirPods (3rd generation) with Lightning Charging Case; or
  • S$200 cash credit
  • 10,000 miles (only for Maybank Horizon)

Note that you need to apply for the CreditAble account, although you do not need to use it.

Application Steps

  1. Sign up here
  2. Note down the Application Reference number (at the end of Application, starts with REF-XXXXXXX)
  3. Fill up this Google form

Please view the terms and conditions here and save a copy for your reference.

Earn up to 3.2 mpd for restaurant dining, petrol stations, public transport (including Grab and taxi rides with our selected taxi service providers), and hotel bookings at Agoda.com/horizon.

Maybank
Visa Infinite

Maybank is one rare bank that has yet to exclude insurance premiums from earning cashback/miles on all of its cards.

For cashback, Maybank Platinum Visa gives you an earn rate of 3.33% per quarter. You are required to meet the minimum spend of $300 or $1,000 per month for the three months within the quarter.

Maybank Visa Infinite gives 1.2 mpd on insurance premiums (up to $3,000 a month). However, its $150,000 annual income requirement and the $600 annual fee (waived for the first year) make it a little out of reach for many. The Maybank Horizon Visa, on the other hand, is more mass market with the standard $30,000 income requirement. Alas, it gives a paltry 0.4 mpd for insurance premiums.

If your policy does not accept card payment directly

Many insurers and policies do not accept cards. That’s not going to stop highly motivated rewards chasers like us, clearly. Simply use payment services like CardUp and ipaymy to make such non-card payments with your card! You pay a service fee for this, though it pays off if you can get rewards greater than the service fee. Read this for more info; it applies to insurance as it does for income tax.

CardUp

ActivityReward
New user, use this first: sign up and use code SETHISFY Get S$30 off transaction fee ¹

(Free miles/cashback for a payment of about S$1,154!)
New or existing users: use code SETHTAX24Reduced 1.75% fee² for income tax payment
(Visa or China Unionpay only)
New or existing users: use code MCTAX24Reduced 1.99% CardUp fee³ for income tax payment
(Mastercard only)

Tap here for guide

Terms and conditions:

  1. Terms and conditions for SETHISFY
  2. Terms and conditions for SETHTAX24
  3. Terms and conditions for MCTAX24

ipaymy

Ongoing promo

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

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

After signing up with the link, an email will be sent to you with the code.

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