CardUp offering Mastercard income tax payments from 1.55% fee

CardUp has launched a 1.55% – 1.67% fee promotion for income tax payments made with Singapore-issued Mastercards, complementing its ongoing 1.75% offer for Visa users.

Buy miles from 0.95 cents.

Income tax season has rolled around once again in Singapore, and this year CardUp has been slightly slower off the mark than usual – coming in as the second payment provider to launch its discounted fee offers for 2025, after ipaymy.

The good news: there’s now a new deal for Mastercard users, starting from just 1.55% fee for new users and 1.67% fee for existing users, more competitive rates than ipaymy’s 1.99% fee.

Mastercard 1.55% – 1.67% fee offer

In addition CardUp’s existing 1.75% fee for those using a Visa card, a discounted rate of 1.55% to 1.67% is now available for new and existing customers respectively using a local Mastercard to pay.

The snag? A S$3,500 upper cap applies for new CardUp users for a one-time payment, while a S$5,000 limit applies for existing customers, either as a one-time payment or for the first cumulative S$5,000 in monthly recurring payments.

For any amounts over that, you’ll be paying CardUp’s regular 2.6% fee for Mastercard payments, which you probably don’t need us to tell you is not attractive for those using this platform to ‘buy’ miles.

Here’s how the promo codes work.

• 1.55% for a one-time income tax payment, which is also your first ever CardUp payment, using the MCTAX25N promo code
  Schedule by: 31st August 2025
  Charge by: 3rd September 2025
  Limit: S$3,500, after which a 2.6% fee applies
  Cap: First 300 redemptions
• 1.67% for a one-time or recurring income tax payments, using the MCTAX25 promo code
  Schedule by: 31st August 2025
  Charge by: 25th March 2026
  Limit: S$5,000, after which a 2.6% fee applies
  Cap: First 1,500 redemptions

Full terms and conditions for these promo codes are available here.

Cost per mile

Here’s how the cost per mile looks for some popular Mastercard credit cards issued in Singapore.

Cost per mile
(New to CardUp)
MCTAX25N

Here’s how the cost per mile looks for some popular Mastercard credit cards issued in Singapore.

Cost per mile
(Existing CardUp customer)
MCTAX25

You can refer to the latest full list of cards awarding points and miles for CardUp payments here.

Income tax guide 2025

We’ll soon be updating our comprehensive guide to paying income tax by credit card to include these latest Mastercard promotions from CardUp, to sit alongside other miles-earning options available this year – such as direct bank payment methods and ipaymy deals.

In summary when it comes to the card payment providers, CardUp is now matching ipaymy’s 1.75% fee for Visa cards (one-time or recurring), but offering the lowest fee of 1.55% (one-time, new user) or 1.67% (one-time or recurring) for Mastercard payments.

The big drawback not highlighted in the table is the limited caps CardUp is applying for these low Mastercard rates, of S$3,500 and S$5,000 respectively for new and existing users, so you may need to switch across to ipaymy for the remaining element of your income tax payment.

(Cover Photo: CardUp)