Plan your expenses carefully and be rewarded!

I have received a few emails asking me to help them "plan" their fixed expenses. To be exact, they are asking me which credit card(s) to use for their fixed expenses so they can get the maximum benefits/cash rebates. Coincidentally, all of them prefer cash rebates to miles or points. So this is my advice to all:

Step 1: Write down all the monthly recurring fixed expenses that accept credit card payment that you have.

Insurance 1: $104.75
Insurance 2: $110.35
Insurance 3: $230.20
Insurance 4: $160.15
Telco: $150.00
S&CC: $58.00
SP Services: $200
HDB season parking: $90
Income Tax: $450

Step 2: List down any credit card limitation that these fixed expenses may have.

Insurance 1: $104.75 
Insurance 2: $110.35
Insurance 3: $230.20
Insurance 4: $160.15
(The above 4 only accepts recurring payment by Standard Chartered Bank, DBS/POSB, Maybank, UOB

Telco: $150.00 (Monthly recurring and online payment available)
S&CC: $58.00 (Only Visa/Master)
SP Services: $200 (Only DBS/POSB for recurring payments)
HDB season parking: $90
Income Tax: $450 (Giro or monthly recurring payment by HSBC/ANZ credit card)

Step 3: Try to see if you can hit the tiers of $300 / $600 / $800 / $1000 / $1500.

Applies to insurance, telco bills, S&CC etc.

If your fixed expenses can meet $300 every month, you may use UOB ONE OR Maybank Platinum Visa.

If your fixed expenses can meet $600 every month and can be subdivided into 2 x $300+, you may use UOB ONE ($300) AND Maybank Platinum Visa ($300).

If your fixed expenses can meet $800 every month, you may use UOB ONE.

If your fixed expenses can meet $1000 every month, you may use Maybank Platinum Visa.

If your fixed expenses can meet $1500 every month, you may use UOB ONE.

The above 2 cards will earn you up to 3.33% cash rebates if you can hit the required tiers during the qualifying quarters.(You may click the links for more information)

Step 4: Payment to SP Services

If you are looking at FUSS-FREE monthly recurring payment, pay with the DBS Altitude Visa Signature. You get 3 DBS Points for every $5.

There are times when there is $100 Tunglok voucher for redemption at 4200 points. This will translate to 1.42% which is pretty good in my opinion. Give your family a treat with the voucher!

Click to download DBS Credit Card Recurring Payment form.

POSB Everyday only gives you up to 1% (or $1).
1% cash rebate for SP Services and StarHub is capped at a maximum spend of S$100 per Card account, per calendar month per respective billing organization. For SP Services, recurring charges are applicable only to accounts under the name of the main or supplementary cardholder.


If it is convenient for you and you are looking at the highest % in terms of cash rebate, make trips down to the SP Services, Customer Service Centres to make payment. 

Then pay with the ANZ Travel Visa Signature to enjoy 2.54% in cash rebate (1.4 Travel$ for every $1 spent, 550 Travel$ = $10). You may pay up to 3 months worth of bills in advance.

Step 5: HDB Season Parking

For FUSSFREE method, pay with Giro and get 2% discount.

For maximum cash rebate, pay online with the ANZ Travel Visa Signature to enjoy 2.54% in cash rebate (1.4 Travel$ for every $1 spent, 550 Travel$ = $10).
Note: You will have to remember to pay monthly to earn $0.50 more in cash rebate.

Step 6: Income Tax

Pay your income tax with ANZ Travel Visa Signature for the best returns! More info here.

There is a processing fee of 0.7% applicable (or 0.5% if you are ANZ Signature Priority Banking card member). Processing fee is charged every month and no points will be awarded for the processing fee.

Basically it works this way. You maintain a GIRO arrangement to pay $XXX monthly with IRAS. ANZ will credit $XXX amount to your bank account before the deduction. ANZ then charges $XXX + 0.7% processing fee to your ANZ credit card.

You will get 1 Travel$ for every $1 charged to your ANZ Travel Visa Signature for the income tax payment, which works out to be 1.81% in cash rebate. Effectively, you get 1.81% - 0.7% = 1.11% for your tax payment! That is better than 0% if you just pay by GIRO!

Moreover, if you hit a minimum spending per year on your credit card (excluding income tax), you will get a rebate on your processing fee! Hence, you will get 1.81% on your income tax payable! More info here.


The above 6 steps are my strategies to planning the payments for my fixed expenses. After I am done with the above, I would just dump the UOB ONE and Maybank Visa Platinum in my drawer and they will never see light again. And I also do not have to worry about the recurring payments at all.

If you need help with your planning, drop me an email and I will try my best to help you! 
Free of charge!



Tags: fixed expenses, credit card, DBS Altitude, UOB ONE, Maybank Visa Platinum, ANZ Travel Visa Signature, POSB Everyday, recurring bill payment, insurance, Singtel, M1, Starhub, S&CC, SP Services, HDB Season parking, income tax, IRAS