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

Amex
True Cashback

 New to Amex

Receive*

  • S$80 CapitaVouchers^
  • 3% cashback on first $5,000 of spend (Grab top ups get 1.5% instead)

*min spend of S$250 required within 30 days of card approval

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

Maybank Cards

Maybank
Platinum

🔥 👍🏼

New customers

Get up to S$180 cash/cashback with these two promos:

Singsaver promo
Receive S$80 Cash via PayNow upon card approval

Maybank promo
Apply for a Maybank Credit Card and a CreditAble Account, make a min spend of $300 per month for 2 consecutive months, and receive:

  • First 4,500 applicants: Samsonite Harts 68/25 Spinner (worth S$500)
  • 4,501 onwards: S$100 cashback

Both promos stack if applied through this site.

Until 13th October 2022

Sign-up Process

  1. Apply with the link
  2. Important: find SingSaver email and fill in redemption form after application
  3. Fulfil requirements as stated in terms and conditions

Credit card terms and conditions
Banking account terms and conditions
Priority banking terms and conditions

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

Maybank
Horizon

🔥 👍🏼

New customers

Get up to S$180 cash/cashback with these two promos:

Singsaver promo
Receive S$80 Cash via PayNow upon card approval

Maybank promo
Apply for a Maybank Credit Card and a CreditAble Account, make a min spend of $300 per month for 2 consecutive months, and receive:

  • First 4,500 applicants: Samsonite Harts 68/25 Spinner (worth S$500)
  • 4,501 onwards: S$100 cashback

Both promos stack if applied through this site.

Until 13th October 2022

Sign-up Process

  1. Apply with the link
  2. Important: find SingSaver email and fill in redemption form after application
  3. Fulfil requirements as stated in terms and conditions

Credit card terms and conditions
Banking account terms and conditions
Priority banking terms and conditions

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

New to CardUp
Get $30 off the fee on your first payment! Remember to use promo code SETHISFY!

ipaymy

New to ipaymy
Sign up here to get $30 off the fee on your first payment!

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