Whether you’re a homeowner or tenant, a significant portion of your expenses likely goes towards property-related payments such as your housing loan or rent.
But what if we told you there’s a way to turn these routine payments into exciting rewards, helping you rack up airline miles for your next dream getaway?
Enter CardUp, a smarter way to process your personal finances including your property payments.
Read on to find out how CardUp helps you transform your large or recurring non-card expenses into rewarding opportunities and stay till the end for an exciting promotion to help you save even more.
Shift Payments to Your Credit Card
Whether you realise it or not, many essential expenses are made via cash, cheque or bank transfers, resulting in missed opportunities to earn rewards.
Considering that these are often recurring or big-ticket expenses such as rent, mortgage, or income tax, the payments – and the forgone rewards – can quickly add up.
CardUp steps in by facilitating bank transfers on your behalf and charging the payments to your credit card of choice, with a small fee.
This allows you to pay recipients who don’t typically accept credit cards, such as your landlord or mortgage broker, even if they aren’t CardUp users.
CardUp has you covered for any of life’s expenses, whether it’s property-related (rent, mortgage, home renovation, property maintenance, season parking) or insurance, education, car loan, income tax, or helper salary.
Arranging your payment is simple – sign up for free, enter the payment details, and CardUp manages the transfer while charging the payment to your existing credit card.
Benefit #1: Maximise Your Rewards
Once you’ve set up your payment, it’s now time to enjoy the rewards.
The spending that you’ve transferred to your credit card means you’ve accumulated extra points, miles, or cashback, depending on your card’s rewards system.
How much bang for your buck can you get?
Let’s say your current non-card expenses add up to RM7,000 per month across the eligible categories of housing loan, education, car loan, insurance, and home renovation.
Below is how you can calculate your rewards and savings.
- Your annual spend: RM84,000
- CardUp fee at promotional rate of 1.6%: RM1,344*
- Total spent: RM85,344
- Miles earned: 68,275 air miles**
- Flights redeemed: 2 business class flights to Bangkok, worth RM6,716 or 58,800 air miles
- Total savings: Flight tickets value (RM6,716) – CardUp fee (RM1,157) = RM5,559***
- Miles remaining after flights redemption: 9,475
As seen above, by accruing points that you otherwise would have missed out on, you would be able to redeem two business class flights to Bangkok, enjoying savings of RM5,559 with an additional 9,475 miles left to be used towards your next travel.
Ready to find out how much you could be saving? Check out CardUp’s rewards calculator.
*See CardUp’s ongoing promotions here and at the bottom of this article.
**If your card offers 0.8 miles per every RM1 spent
***Flight tickets value is based on the average Malaysian Airlines flight ticket price across a year and CardUp fee calculated here is the exact amount needed to earn the 58,800 air miles.
Benefit #2: Hold on to Your Cash for Longer
When you utilise your credit card to make payments for your essential bills, you have more financial flexibility because you’re able to keep your cash in the bank for longer.
Most credit cards have a 30-day billing cycle and a 20-day interest-free payment period. Additionally, there is usually a minimum repayment amount if you are unable to pay the balance fully.
This provides more flexibility and time to manage your cash and gives you more control over your financial strategy.
To avoid interest charges and minimise credit debt, it’s important to budget well, track your spending closely, and make sure you are well-informed of your credit cards’ T&Cs.
Never Miss a Payment
Tired of setting alerts in your calendar to remind you to pay your bills?
CardUp allows you to easily schedule a year’s worth of payments, so you never have to worry about late payment fees again.
Simply set up the recurring payment once, then sit back and relax as you earn rewards on repeat – your card will automatically be charged 3 business days before your scheduled payment due date.
Manage Your Payments Without Hassle
Gone are the days of arranging numerous bank transfers every month and tracking them individually.
With CardUp, managing your expenses is hassle-free and secure.
Once you’ve created your account, you’ll have access to a dashboard to monitor all past and upcoming payments in one place.
Plus, you can receive real-time payment status updates and alerts via email and SMS.
For added flexibility, you can add multiple cards to your account and choose the right card for each payment.
Airtight Security for Your Account and Payments
CardUp ensures your account and payments are safe and secure.
It works closely with payment partners licensed by Bank Negara Malaysia and is a registered Visa Business Payments Solution Provider (BPSP) in Malaysia. Its headquarters in Singapore is licensed by the Monetary Authority of Singapore (MAS).
Credit card details are never stored and instead managed through a globally certified payment gateway. Funds processed through CardUp are held in a safeguarded client money account and never retained for more than 3 hours before being delivered to the recipient. User data is encrypted using the same level of security that banks use.
0% Fee on Your First Payment
If you’ve made it this far, you’re in for a special treat.
PropertyGuru readers have an opportunity to enjoy 0% processing fees on their first payment on CardUp of up to RM4,000.
Sign up through this link and enter the code PGFREE during the payment setup process.
The payment must be scheduled before 29 February 2024 and the payment due date must be on or before 5 March 2024.
Disclaimer: The information is provided for general information only. PropertyGuru International (Malaysia) Sdn Bhd makes no representations or warranties in relation to the information, including but not limited to any representation or warranty as to the fitness for any particular purpose of the information to the fullest extent permitted by law. While every effort has been made to ensure that the information provided in this article is accurate, reliable, and complete as of the time of writing, the information provided in this article should not be relied upon to make any financial, investment, real estate or legal decisions. Additionally, the information should not substitute advice from a trained professional who can take into account your personal facts and circumstances, and we accept no liability if you use the information to form decisions.