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How to Earn Cashback from Paying Rent & Housing Mortgage | CardUp Review 2022 - YouTube
Channel: Chris @HoneyMoneySG
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hey folks welcome back to honey money sg today聽
let's talk about a payment processing service聽聽
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known as CardUp where you can earn cashback from聽
paying your rent your mortgage and even other聽聽
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stuff that you may not even know of so firstly聽
let's talk about what is CardUp all about right聽聽
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so CardUp is actually a payment processing service聽
that allows you to actually use your credit card聽聽
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as a form of payment to merchants who do not聽
accept any kind of credit card payment at the same聽聽
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time allowing you to actually a miles or cashback聽
based on the credit cards that you have used for聽聽
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payment so what kind of payments can you do with聽
CardUp at least some of the examples here there聽聽
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will be insurance rent condo and mcst education聽
mortgage loans car loans renovation helpers salary聽聽
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taxes season parking and electric city that's聽
quite a comprehensive list right but i'm pretty聽聽
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sure there are some things that i have not covered聽
but you can go and explore it yourself so i guess聽聽
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that got some of you thinking because such good聽
thing in life may allow you to earn credit card聽聽
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rewards for this kind of merchants who usually聽
don't even accept credit cards so i'm going to聽聽
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explain in detail how does CardUp actually works聽
so over here on this CardUp platform you actually聽聽
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could see that you need to set up a payment plan聽
so that will detail who is the recipient that you聽聽
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want to pay to and what is the payment about聽
and maybe when do you want to pay and what is聽聽
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the amount that you want to pay for and once you聽
have set up the payment you actually need to add a聽聽
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credit card to the CardUp platform so that carl up聽
can actually charge the credit card to go and pay聽聽
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to the merchant and CardUp do charge a payment聽
processing fee for that that is 2.6 admin fee聽聽
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so then the merchant will actually receive the聽
payment in the form of bank transfer by the next聽聽
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two business days so you could see that call up聽
actually transform your credit card payment into a聽聽
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bank transfer payment and therefore the merchants聽
can actually accept bank transfer payment right聽聽
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so that's why they have to charge a fee on that聽
and at the same time it actually allows you聽聽
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to earn cashback or miles on the selected credit聽
cards that you would use but you must be wondering聽聽
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right what's the point of doing this when they聽
are charging a 2.6 fee right because most cashback聽聽
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cards if they don't give you 2.6 at least then聽
what's the point of going through all the effort聽聽
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just to earn a little bit of miles or cash back聽
then here comes the question what are the best聽聽
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credit cards that you could use with CardUp so聽
that you can actually take advantage of the 2.6聽聽
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payment processing fee and at the same time earn聽
great rewards i think to discuss this firstly聽聽
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you have to understand that although CardUp is an聽
online payment processing service but it does not聽聽
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qualify for online category so we are clear on聽
that it's actually an offline spending category聽聽
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that's why all your online category eligible spend聽
like your dbs live fresh uob evol or frank online聽聽
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credit card those will not earn cash back for聽
CardUp at the same time i would say that you聽聽
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will need credit cards that earned you more than聽
three percent cash back to be worth the effort聽聽
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right i mean the payment processing fee is really聽
two point six percent if you don't earn at least聽聽
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three percent to gain like 0.4 percent i'll be聽
trust i think you're just wasting your time and聽聽
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effort right so my top recommended card for CardUp聽
is of course the uob one credit card where you聽聽
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could earn up to five percent cash back if you聽
actually reach the monthly spend of two thousand聽聽
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dollars tier so CardUp is actually eligible for聽
the uob one uh monthly spent here so let's say聽聽
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if you're actually paying mortgage of rent around聽
one thousand dollars a month then i think you have聽聽
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one thousand more to spend on your uob one credit聽
card so they can hit the two thousand spent here聽聽
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and i think one thousand dollars is quite easy to聽
hit for family right especially when you'll be one聽聽
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is actually such a great card so if we calculate聽
like five percent cash back and we pay like two聽聽
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point six percent to CardUp then the net cash back聽
you will get is two point four percent which is聽聽
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quite sweet right i mean if you're paying rent聽
and your mortgage and you're getting two point聽聽
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four percent net cash back i think that's quite a聽
good amount of savings actually let's put things聽聽
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in perspective right right now the home loan fixed聽
rate is around 1.7 so your 2.4 percent net cash聽聽
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back is actually higher than that the 1.7 percent聽
of loan interest rate thereby netting you 0.7聽聽
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net gain actually i mean that may be a stretch but聽
you get my point the other card that you could use聽聽
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with CardUp is actually the crypto.com visa card聽
and i would say you actually need to be at least聽聽
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the royal jade win or royal indigo that lets you 3聽
cro cash back to make your effort worthwhile right聽聽
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and to get to the royal jade green or royal indigo聽
you actually need to stick at least 5 000 worth聽聽
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of the cro token if you already have an existing聽
crypto.com visa card with the jade green or royal聽聽
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indigo i think you could go for it uh because it聽
gives you three percent cash back on any spend聽聽
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right so that means if you actually net off the聽
2.6 percent processing fee you'll get a net of 0.4聽聽
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cro which i think is not too bad either if you聽
really believe in the cro token now these are聽聽
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the two cards that i recommend for cash back or聽
crypto back but of course you can refer to CardUps聽聽
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officials list where you will show you what聽
are the other credit cards that could earn you聽聽
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even miles right i think for the mile chasers you聽
all will be interested to look at this list and聽聽
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also if you have not created the call up account聽
yet then you can use my referral code down below聽聽
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and go and sign up for CardUp because your聽
first payment will have 30 dollars worth of fees聽聽
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waived which i think is quite sweet especially if聽
your payment is quite a large amount right for the聽聽
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first payment also do check out the promotion page聽
of CardUp because they will have regular promos聽聽
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where you could offset some of these payment聽
processing fees and bring it down to less聽聽
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than two percent which i think is quite sweet聽
too so you have heard of the benefits of call聽聽
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up and maybe you want to sign up for it but聽
what about using CardUp to pay income taxes聽聽
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and other ways where you can get cash back聽
while paying for your income tax and you can聽聽
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check out this video over here where i discuss it聽
in further detail with that thank you for watching聽聽
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my name is christopher this is honey money sg聽
steering young adults to financial independence
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