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:
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!
A popular cashback card in the market is the Maybank Platinum Visa card, which gives up to 3% cashback on all online payments, CardUp spend included. Making your payments through CardUp (e.g. your monthly insurance premium of $830, and electricity bill of S$200) – should easily allow you to hit the spend of S$1,000 every month for each quarter to qualify for the maximum S$100 quarterly cashback (i.e. S$400 yearly cashback).
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:
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.