Paying your insurance premiums with your credit card through CardUp

The CardUp Team Oct 25, 2019 1:06:00 PM
Pay your insurance premiums with your credit card through CardUp

 

Insurance-blog subhead-1

 

How much can you earn or save by paying your insurance through CardUp?

While there is no fixed and absolute amount you should be spending on your insurance premiums, it still is a substantial recurring expense. Even though putting them on your credit card with CardUp comes with a small processing fee per transaction, the potential rewards earned on your cards can still easily outweigh this fee.

Here's how:

✈️ Scenario 1: Miles

While simply putting your insurance premiums on your credit cards through CardUp might not earn you sufficient air miles for a flight, combining them with your other spend would get you a luxurious getaway for cheap!

By combining your premiums with other CardUp spend such as helper salary, rent, education fees, electricity bills and more, you might just be able to earn sufficient miles to fly business class to Japan at just half the price:

 

Payment type Spend

Get225 Discounted fee

(2.25% per transaction)

Earn

(1.4 miles per dollar)

Insurance premiums S$830 per month S$123,30 per month = SS$1,4790.60 per year

94,135 air miles

Worth S$4,000 when redeemed for a return business class flight to Tokyo, Japan!

Rent S$2,900 per month
Education fees S$900 per month
Helper salary S$650 per month
Electricity bills S$200 per month
Total S$65,760

 

Through CardUp, you're now able to earn sufficient miles to fly to Japan on business class (worth $4,000), while paying only $1,480 in fees!

> Read more: Best air miles cards to earn more miles on CardUp

 

Learn more about our 2.25% fees

💰 Scenario 2: Cashback

One of the most popular cashback cards in the market is the UOB One Card, which gives up to 5% cashback on all expenses, CardUp spend included. However, the minimum requirements to attain this 5% cashback is to have a monthly minimum spend of $2,000.

For many cardholders, you may fall into the 3.33% cashback category if your monthly spend sits at $500. By using CardUp, you can now put payments such as your insurance premiums ($400) monthly electricity bill ($200), helper salary ($600), and your child's school fees ($300), bumping you up to the next tier of cashback rewards!

 

  Spend Cashback
Without CardUp Day-to-day spend: S$500 per month

(3.33% tier)

S$16.66 per month

= S$200 per year

With CardUp

Education fees: S$900 per month

Helper salary: S$600 per month

+

Day-to-day spend: S$500 per month

(5% tier)

S$100 per month

= S$1,200 per year

 

> Read more: Best cashback cards to maximise rebates on CardUp

 

Here's how you can get started paying your insurance premiums with CardUp

CardUp makes paying your insurance premiums a breeze! Here's how you can get started setting up recurring payments in a few minutes, allowing you to spend less time making payments and more time enjoying the benefits of your cards:

  1. Sign up for a free account, or log in to your existing account
  2. Select "Insurance" as your payment type
  3. Choose a pre-loaded insurance provider or add a new recipient if your provider is not listed. Fill in the relevant details, such as the provider's name and bank account number
  4. Fill in your payment amount and details
  5. Select your credit card, review and confirm your payment!

 


 

Your insurance premium payments should not be something that you dread each time it comes around. With CardUp, you'll be able to rack up even more rewards on your favourite credit cards, while staying insured at the same time. 

 

Enjoy 2.25% fees on all personal payment with promo code GET225. Learn more!

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