Back in October 2018, DBS launched a “More miles to fly in style” promotion on the DBS Altitude card. Cardholders could pay an admin fee of 2.2% to earn a bonus 1 mpd on their DBS Altitude spending, which meant
1.22.2 mpd on local spending 23 mpd on overseas spending 34 mpd on online flight and hotel transactions
Under this scheme, you were basically buying miles at 2.2 cents each- a terrible price, given the myriad of ways to generate them at lower prices.
DBS has lowered the admin fee to 2%
Here’s an illustration of how the math works with the reduced 2% fee:
The effective cost per mile is now 2 cents (7,000 bonus miles for S$140)- it’s better than before, but still way too steep given what we know about the value of a mile and the other ways of generating them.
Registration is required, and open to the first 10,000 registered card members. I wouldn’t sweat it though, because it’s not exactly something you should be clamoring to participate in.
How to buy miles for less than 2 cents each
Here’s a rundown of all the ways you can buy miles in Singapore.
|DBS Insignia + RentHero||$500K||1.07|
|SCB Visa Infinite Tax Payment||$150K||1.14-1.6|
|HSBC Visa Infinite Tax Payment||$120K||1.2-1.5|
|HSBC Premier MC Tax Payment||AUM: $200K||1.25|
|Citi ULTIMA + PayAll||$500K||1.25|
|HSBC Visa Infinite Welcome Gift||$120K||1.39-1.86|
|SCB Visa Infinite + EasyBill||$150K||1.43-2.0|
|DBS Altitude + RentHero||$30K||1.43|
|Citi Prestige + PayAll||$120K||1.54|
|UOB PRVI Miles + CardUp (GET225)||$30K||1.57|
|Citi PremierMiles + PayAll||$30K||1.67|
|HSBC Visa Plat/Revolution Tax Payment||$30K||1.75|
|DBS Altitude/Citibank PremierMiles + CardUp (GET225)||$30K||1.83|
|OCBC VOYAGE Tax Payment||$120K||1.9|
|UOB Reserve VI Payment Facility||Invitation||1.9|
|OCBC VOYAGE Payment Facility||$120K||1.9-1.95|
|Citibank PremierMiles, DBS Altitude, KrisFlyer UOB Card, OCBC 90N Annual Fee||$30K||1.93|
|UOB PRVI Pay Facility||$30K||2.0|
|UOB VI Metal Payment Facility||$150K||2.0|
|OCBC VOYAGE Annual Fee- Option 2||$120K||2.14|
|Citi Prestige Annual Fee||$120K||2.14|
|DBS Altitude Tax Payment||$30K||2.5|
|OCBC VOYAGE Annual Fee- Option 1||$120K||3.25|
If you wanted to buy miles, you could easily do so by paying your tax bill through CardUp with their TAX199 code (must be used by 24 July). Depending on what card you use, you’d effectively be buying miles between 1.22 and 1.63 cents each.
|First time CardUp users can also use the code MILELION to get $20 off their first payment of at least $1,000|
Otherwise, those with condo fees, electricity bills and education payments could use Citi’s PayAll service to buy miles from 1.25 to 1.67 cents each.
There’s also UOB’s PRVI Pay, which until 31 July 2019 will sell you as many miles as you want for 1.8 cents each.
And finally, there’s the OCBC VOYAGE payment facility, which lets you buy as many miles as you want from 1.9 to 1.95 cents each.
Given all the ways you could easily buy miles for less than 2 cents, there’s really no reason to take advantage of this promotion.
I’d give this one a miss, unless you were really desperate for miles and couldn’t utilize any of the cheaper methods above.
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