Paying With Credit Cards When They Don’t Accept Credit Cards – Exclusive ipaymy Promo Code!

We all have expenses that sadly don’t take credit cards, or otherwise don’t typically give card rewards. Things like rent, insurance premiums, income tax, or invoices from old-school businesses can add up substantially, but don’t give us the miles and cashback we deserve. Admit defeat and pay cash? Ugh, never.

Enter ipaymy which solves this issue for many cases. The concept is quite simple:

  1. Enter the vendor’s details into ipaymy’s website.
  2. Pay with your card.
  3. The money will be transfered to the vendor’s bank account within two days.
  4. Enjoy your miles/cashback!

You earn rewards, your vendor gets paid, and ipaymy takes a 2.25% fee (for Visa/MasterCard). You can even arrange the payment ahead of time, and it’ll be paid the next business day if scheduled at least 3 days in advance.

Just days ago, I received an invoice from my lawyer. Her firm only accepts cheques or bank transfers, and because they accepted bank transfers, I could use ipaymy. And I did, because I like to promote things that I personally use:

Is it worth it? If you can earn 1.4 mpd for the 2.25% fee, you are essentially purchasing miles for about 1.57 cents each (the fee earns points too!).

At 90,000 miles for a business class flight to Tokyo and 76,000 miles for economy to San Francisco, you’re paying about $1,500 and $1,200 in fees respectively for the miles. Not too shabby, but it gets better.

If you book a destination during KrisFlyer’s Spontaneous Escapes, it is 30% off which brings the cost to $1,050 and $840 which is becoming quite a steal. 

For those who prefer cashback, the value preposition is even clearer: if I paid a 2.25% fee and got 5% cashback, I have basically earned an effective rate of 2.75% cashback on my spend. Really great for a transaction that’d otherwise earn me nothing.

Upsizing your miles and cashback

Here’s where I help you reduce the cost per mile, or increase your cashback yield: use my code SETHISFY at the payment page as a new user and enjoy a reduced fee of 1.89%, bringing your rate down to 1.32 cents per mile for a 1.4 mpd card, or increasing your cashback earn to 3.11%!

Code has been changed to SETHISFY20 and this gives you $20 off your first payment as a new user!

Have an AMEX card and you want to make use ipaymy to hit your sign-up bonus? Use SETHISFYAMEX to reduce the fee from 3.3% to 3.1%.

Get an account at their website now.

Further upsizing your miles and cashback

For those who are more savvy with numbers, you can start to see how this game reaps even better prizes when you replace “1.4 mpd” with things like “4 mpd” or even “10% cashback”. Such high-earn cards don’t usually work directly with ipaymy, but we can use our favourite GrabPay Mastercard for now. And “for now” is right, you better start now before the game is all over.

Scoring 4 mpd for a 2.25% fee is rather insane. Play this game well and you could be on your way to the States by paying substantially less than $840 in total.

Make hay while the sun shines: if you have a bill to pay soon, be it an insurance premium or income tax coming up, here’s your chance to clock a sizeable amount of miles – or cashback – for your next holiday.

Remember to use promo code SETHISFY20 for your discounted rate!

4 thoughts on “Paying With Credit Cards When They Don’t Accept Credit Cards – Exclusive ipaymy Promo Code!”

    1. Unfortunately there have been reports of ipaymy transactions not getting Grab points without the use of promo codes, and recently it seems like even those with promo codes are no longer getting it.

      I’m told that rental payments may still have it, which I will test later this month.

  1. Hi, when paying for insurance via ipaymy, what sort of invoice are they requesting us to upload? Documents like my policy summary has sensitive information such as my NRIC…which I will risk exposing to unknown parties.

    1. Based on my experience, just policy number and premium amount is sufficient. You can blank out sensitive information.

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