Even with the rising costs of education, many of us still see its importance as a worthy investment. From international schools to master degrees education to everything in between, there are many returns and benefits to be reaped, in the form of growth, knowledge and networks to be gained.
The costs however, now range from anywhere between HK$80,000 to HK$350,000 annually for international schools , and an estimate of HK$265,000 per year for master degrees. This is a large financial outlay, and it would be ideal if this ‘investment’ could also net you some cost savings and financial benefits as well, in addition to everything mentioned above.
There is, in fact, a way for you to save as you spend.
Putting your education fees on your credit card using CardUp
CardUp lets you get a little extra out of your education fee payments, by letting you earn precious miles, points and cash-back off of this large payment. With CardUp, you can pay:
- Pre-school fees for your child
- Extra-curricular tuition and enrichment classes
- International school fees
- Training institutes and courses
While there are some schools that already accept credit card payments directly, most schools only still accept cash, cheque or bank transfer payments. This makes this payment exactly what it is — just an outflow of cash with no credit card rewards to be earned. CardUp thus enables this payment to be shifted onto your credit cards, which lets you enjoy the benefits of card payments on this large expense!
Why should I pay my education fees using CardUp?
By using your favourite credit cards for these payments, you’ll be able to enjoy the following benefits:
Earn credit card rewards to offset cost
The rewards–cashback in particular–earned when you pay using your credit card can help offset your education fees. While we always seek to maximise credit card rewards on everyday spend such as dining, transport and entertainment, these costs are small, especially in comparison to education fees. Let your education fees help you earn more cashback and miles.
Receive attractive sign-up bonuses
Many cards offer attractive sign up bonuses easily worth hundreds of dollars, with the requirement of spending a few thousand dollars within a few months’ time. While your regular spend might not be sufficient to attain these numbers, putting a large bill like your education fees will be a good way to do so without any additional, unnecessary spend!
Enjoy unlimited credit card cashback
There are also some popular cashback cards which gives you cash rebates for all eligible spending in local currency, with no cap. By putting your child’s education fees on your credit card, it gives you regular cash-back every month and eventually saves up a part of the tuition cost!
Never miss a payment with recurring schedules
CardUp allows you to schedule recurring payments, so you don’t have to worry about due dates or missing payments. Once set up, it is done automatically — each month your card is charged for the education fee amount plus the CardUp fee, and the school receives the payment on time via a bank transfer. This leaves to simply kick back and relax, while your card rewards are earned each month.
You can also monitor every payment —past and future— on our user-friendly dashboard, making it easy to browse through all your transactions.
How do I start?
CardUp makes paying your education fees a breeze. Here’s how you can get started in a few minutes, allowing you to spend less time making these payments, and more time enjoying the benefits of card payments:
- Sign up for a free account, or log in to your existing account
- Select "Education" as your payment type
- Choose a pre-loaded school/educational institution or add a new recipient if your school is not listed.
- Fill in the relevant details, such as the provider's name and bank account number
- Fill in your payment amount and details
- Select your credit card, review and confirm your payment!