CardUp (Do not post or ask for referral code)

[wira]

I would like to confirm the mechanics of how card up works for mortgage... since my mortgage is a floating rate, the monthly installment changes from month to month.

If say monthly average == 5k, is it correct i set up recurring for 5k, and cardup wiill transfer 5k to my designated bank account used for mortgage payment); and deduction will take place as normal?

ie the cardup DO NOT pay the mortgage directly?

yes that is what happen to me when i setup mortgage payment with cardup.
they will deposit the funds to your designated account. you pay your bank as per normal.

If you want to , can also include the cpf portion.
ie say if your mortgage is $10K and you pay $8K cash and $2K CPF, you can setup cardup for full amount of $10K

 

[GrandJedi]

I am new to CardUp.
It seems its possible to pay myself $2000/mth rental into a DBS account using Maybank Platinum Visa (via Cardup). In the process, I can make myself about $300/yr nett charges to CardUp (reward from Maybank Platinum is $200x4).
Whats the catch?

 

[GrandJedi]

yes that is what happen to me when i setup mortgage payment with cardup.
they will deposit the funds to your designated account. you pay your bank as per normal.

If you want to , can also include the cpf portion.
ie say if your mortgage is $10K and you pay $8K cash and $2K CPF, you can setup cardup for full amount of $10K

If you giro deduction date for loan in 2nd of each month, do you put the date as 2nd on CardUp website too?
If so, 1. When will you see the funds in the bank account. 2. When will the amount be charged to the credit card?

 

[wira]

I am new to CardUp.
It seems its possible to pay myself $2000/mth rental into a DBS account using Maybank Platinum Visa (via Cardup). In the process, I can make myself about $300/yr nett charges to CardUp (reward from Maybank Platinum is $200x4).
Whats the catch?

you can do that ..but you need to submit the rental agreement to 'prove' that you have a $2K rental payment to pay.
but yes i use maybank with card up to get net $300 - $400/yr cashback

 

[class]

i am new to cardup, so if the fees are 1.85%.

its 1.85% of the amount i pay to iras or the mortgage and i can get the miles or rebates on the credit card?

correct?

 

[Trazora]

i am new to cardup, so if the fees are 1.85%.

its 1.85% of the amount i pay to iras or the mortgage and i can get the miles or rebates on the credit card?

correct?

yea

 

[class]

if i use cardup to get miles and redeem a econ class ticket, it might not be worth it.

it might be better off buying from the airline website itself?

correct to say this?

 

[Trazora]

if i use cardup to get miles and redeem a econ class ticket, it might not be worth it.

it might be better off buying from the airline website itself?

correct to say this?

depends if the cardup fees paid is higher or lower than the air ticket

 

[hwmook]

if i use cardup to get miles and redeem a econ class ticket, it might not be worth it.

it might be better off buying from the airline website itself?

correct to say this?

Not really, I am on my way to Perth on a econ ticket, cost me 36k+ miles and $160. If you spend 1.2c per mile to get 36k miles, that's like $430 so total cost is less than $600 for a return ticket to Perth. A cash ticket for the same flight is going for close to $1000. So it really depends on where you are going, when you are going and whether you are comparing with budget airlines. There are good value econ class redemption depends on situation. My colleague used it to redeem a flight to Penang when the cheapest flight available was over $400, she was grateful for it.

 

[sentri]

Not really, I am on my way to Perth on a econ ticket, cost me 36k+ miles and $160. If you spend 1.2c per mile to get 36k miles, that's like $430 so total cost is less than $600 for a return ticket to Perth. A cash ticket for the same flight is going for close to $1000. So it really depends on where you are going, when you are going and whether you are comparing with budget airlines. There are good value econ class redemption depends on situation. My colleague used it to redeem a flight to Penang when the cheapest flight available was over $400, she was grateful for it.

Just curious, is 1.2c per mile a normal earn rate? Based on Milelion's reviews I usually see the earn rate as 4-6 mpd = 16c to 25c per mile...

 

[paurusu]

I guess you are new to miles game ? 4 - 6 mpd is not 16 to 25 c per mile . Means for $1 card spend u get 4 -6 miles. Buying miles (cardup , ipaymy ) is different yet related to this. Since most likely you are converting non-card spend into card spend , you are effectively buying miles instead (additional cost charged by the platform). That is what hwmook referring to. The cost is not flat considering the earn rate of the card and the platform fee.

 

[class]

where can you get 1.2c per mile.

i have only been seeing 1.8 or 1.9

 

[hwmook]

where can you get 1.2c per mile.

i have only been seeing 1.8 or 1.9

Using DBS vantage to get 1.5miles per dollar, pay 1.8% fees so that's 1.2c per mile.

 

[hwmook]

Just curious, is 1.2c per mile a normal earn rate? Based on Milelion's reviews I usually see the earn rate as 4-6 mpd = 16c to 25c per mile...

Earn rate is different from what I am talking about. I am referring to how much you spend to acquire that mile or even how much you value a mile.

 

[class]

let me check it out. thanks

 

[goodtastingsteak]

Saw a notice that cardup is discontinuing visa cards for mortgage loans. Anyone starting to look at alternatives?

 

[JuniorLion]

CardUp is better than ipaymy because of the $1 fee charged by ipaymy.

 

[paurusu]

There is very specific situation where ipaymy can achieve something that cardup cannot do. Adhoc deduction on weekend. Sometimes you may need it

 

[juelim]

Saw a notice that cardup is discontinuing visa cards for mortgage loans. Anyone starting to look at alternatives?

Use OCBC 90°N Mastercard?

 

[hwmook]

Cardup now send email to say it's a mistake so continue to pay.