How to Pay Insurance with Credit Card & Earn Cashback or Miles with Cardup

There are two methods:

1. Direct Payment
2. Indirect Payment

1. Direct Payment:

For all AIA insurance, you can directly use Maybank Platinum Visa to pay your insurance. AIA EzPay no longer accepts VISA for premium payments.

If your insurer accepts direct VISA payment, you can use the Maybank Platinum Visa credit card for insurance payments. Note that only 50% of your insurance payment will be eligible for cashback. The other 50% of your spending must be non-insurance related.

Pros of using Maybank Platinum Visa:

• Gives you 3.33% cashback on usually excluded categories.
• Low spending requirement of S$300 per month.

Cons of using Maybank Platinum Visa:

• Need to plan your spending to a sweet spot spending of S$300, S$1000 or S$2000.
• Need to spend consecutive S$300 per month on the card in each quarter to be eligible for cashback. (e.g Apr – S$300, May – S$300, June – S$300)
• Insurance only counts for 50% of eligible spend

2. Indirect Payment – Use CardUp to Earn Rewards

As almost all credit cards exclude insurance payments to be eligible for any cashback or miles, or insurance providers do not accept credit card payments, there are ways to earn some rewards indirectly.

CardUp, a third-party service, is one such service that allows you to pay insurance (except NTUC income) with your credit card and earn rewards like cashback or miles by paying a small fee.

Here’s the process:

• CardUp charges your credit card for the tax amount + a fee.
• They handle the bank transfer to the insurance company for you.

Maximize Your Rewards with Promo Codes!

Here are some promo codes to help you save even more on your payments with CardUp:

• New Users: Use code IJTLFREE for S$30 off your first payment to maximize your rewards before using the codes below.
• Existing Users:

How to pay your insurance with your credit card:

1. Sign Up for an account

2. Schedule a payment by selecting Insurance category

3. Select the recipient, you have two options:

• pre-loaded providers – if your insurance provider is on the list, click them directly
• add new recipient – if your insurance provider is not liste

4. Fill out details such as payment amount, choose the card and select “Standard payment”

5. Make a monthly recurring payment or one-time payment.

6. Key in your policy reference number, enter promo code below and click “Continue“

For new users, use IJTLFREE for S$30 off your first payment to maximise your rewards before using the below codes.

For existing users, see above

Final Thoughts:

If you are a cashback chaser, you can use Maybank Platinum Visa to do direct payments on AIA as mentioned above. For insurance that does not allow direct credit card payment on their website, use Maybank Platinum Visa via Cardup and earn 1.48%-1.6% cashback, provided you meet the requirements.

If you are a miles chaser, you can go for the UOB Priv Miles Card via CardUp because this is an entry level miles card with the lowest cost per mile at the moment. However, the miles do expire.

For context, a return business class saver flight ticket from Singapore to Christchurch is 137,000 miles (excluding taxes). At S$0.0130 cost per mile, that two way business class flight would cost you S$1,781. At time of posting, paying for the same flight ticket on economy on SQ would have cost you S$1400-S$2000. We basically get business class experience for economy ticket prices. Granted you do need some schedule flexibility and very advance booking of business class saver flights to redeem flights and it is not suitable for everyone. The longer the flight distance, the greater bang for your buck.

Frequently Asked Questions:

Q: Can I use Maybank Platinum Visa to pay for town council bill?

No. It’s excluded under Point 11a in exclusion list here