Convert Bank Rewards Points into KrisFlyer Miles and Get 15% More (Bonus Miles) - by 27 December 2020

From now until 27 December 2020, complete a rewards points transfer into KrisFlyer Miles from a participating bank to enjoy 15% more miles (minimum transfer of 10,000 miles is required). There is no limit to the number of bonus miles you can earn but they will be subject to expiry (in three years) and more importantly, it does expose you to potential devaluations (which seems likely from a personal point of view). Conversions from select bank partners in Brunei, Hong Kong and Indonesia can earn up to 20% bonus miles.

Click HERE for more information on the KrisFlyer bonus miles conversion!

In order to enjoy the 15% bonus on conversions, KrisFlyer members will have to complete a transfer of at least 10,000 KrisFlyer Miles in a single transaction between 16 November 2020 and 27 December 2020 - as most frequent flyer points conversion from credit cards will incur an administrative fee per conversion, it would make sense to convert as many as you need in a single transaction to keep that fee down (and to trigger that 15% bonus). As mentioned earlier, there is no limit to the number of bonus miles you can earn from this promotion and you can earn that on all eligible transactions that you complete by 27 December 2020.

How to Earn 15% Bonus on KrisFlyer Miles Conversions?

All conversions (of at least 10,000 KrisFlyer miles) will have to be completed by 27 December 2020 to enjoy the 15% bonus so make sure you do it at least a week before just to play it safe. As a quick reminder, converted KrisFlyer Miles will expire in 3 years from the month of conversion so if you do it now in November 2020, they will expire on 30 November 2023. The 15% KrisFlyer bonus miles conversion offer applies to the following banks in Singapore:

• American Express

• Bank of China

• Citi Singapore

• DBS

• HSBC

• Maybank

• OCBC

• Standard Chartered

• UOB

Photo Credit: Kris+

Kris+ Conversions Are Included but Only Useful for Expiring Orphan Points

Using the Kris+ app, DBS Points and UOB UNI$ can be converted at a 15% bonus without the requirement on 10,000 KrisFlyer Miles during the promotional period. 15% bonus on converted miles will be awarded with a minimum of 100 DBS Points or UNI$1,000 respectively in a single transaction. However, do note that conversions done via Kris+ come in at an unfavourable rate:

• 100 DBS Points = 170 Miles (196 Miles with 15% bonus)

• 1,000 UOB UNI$ = 1,700 Miles (1,955 Miles with 15% bonus)

Now I would not advise anyone to use Kris+ for conversions but it is worth noting that conversions done via Kris+ are free of charge and while they do come with an opportunity cost, it is great for expiring orphan points - I have 13,000 UOB UNI$ from my UOB Preferred Platinum Visa (I used to use it before moving most of my contactless spend to the HSBC Revolution Credit Card) that will be expiring in December 2020 and I plan on converting 10,000 UOB UNI$ the 'usual way' for a 15% bonus. the remaining 3,000 UNI$ will unfortunately have to be converted using the Kris+ method. It is not ideal but there is no better way around it so you have to pick one that suits you the most.

Are We Expecting a Devaluation after COVID-19?

Obviously, there is no easy answer to this, but my personal opinion is that a devaluation seems likely at some point over the next three years. Most people are comfortable using KrisFlyer Miles only and the hard truth is that it is what it is - this is also the reason why you should earn and burn your miles quickly (but use them wisely) when possible.

Conclusion

I am definitely taking advantage of the 15% bonus during the promotional period but I will be converting the 'less valuable' bank rewards points first (e.g. those that converts only to Asia Miles or KrisFlyer Miles). You might remember that certain banks offer a greater list of transfer partners (e.g. American Express and Citibank) so those are the ones that I will try to keep unless I have a burning need for KrisFlyer Miles.

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