We rarely see transfer bonus promotions being offered by the banks and credit card issuers in Singapore. We saw one great transfer bonus promotion which was held by UOB earlier this year where you would have received a 20% bonus on all UNI$ converted to Asia Miles.
DBS is now offering a 10% transfer bonus when you convert DBS Points to Asia Miles between now and 31 December 2018.
Convert DBS Points to Asia Miles and receive a 10% transfer bonus
In this promotion, simply convert your DBS Points into Asia Miles to get a 10% bonus on all converted DBS Points. DBS Points convert into Asia Miles in a 1:2 ratio and they are converted in blocks of 5,000 DBS Points to 10,000 Asia Miles. For every conversion, a conversion fee of S$26.75 inclusive of GST applies.
However, DBS has imposed a maximum bonus amount of just 2,000 bonus Asia Miles per Principal Cardholder during the promotional period. What this means is that you will max out the bonus when you perform a transfer of 20,000 Asia Miles (equivalent to 10,000 DBS Points). Transferring 100,000 Asia Miles will still only net you a bonus of 2,000 Asia Miles in this promotion.
If you perform your transfer in November 2018, the bonus miles will be reflected in your Asia Miles account by 25 February 2019. If your transfer is going to be in December 2018, you will receive your bonus by 25 March 2019.
Suffice to say, this promotion isn’t going to get me to offload the majority of my DBS Points into Asia Miles. Unlike the ones which were being run by UOB, Maybank, and HSBC in the past, this promotion is just “meh” at best.
If you do not have an Asia Miles account, you can register for one with the DBS affiliated link to receive a one-time bonus of 500 Asia Miles when you successfully transfer your DBS Points to Asia Miles during the promotional period.
A 2,000 bonus mile cap is on the low side in my opinion but as I mentioned earlier, transfer bonuses are hard to come by for us in Singapore. Personally, I think I’ll be skipping this promotion and will be hoping for a better one in the future.