From now till 24 January 2021, Kris+ (formerly known as KrisPay) is offering 30% milesback on all merchants across Singapore. Members can also earn 5X the usual KrisPay miles at three restaurants as part of the Kris+ Food Trail challenge, up till 31 January 2021.
Kris+ 30% milesback promotion
Kris+ is currently offering 30% milesback at all merchants up till 24 January 2021.
There is no cap on the maximum milesback Kris+ users can receive. To illustrate how this works, suppose you spend 15,000 KrisPay miles at a merchant (S$100 value). You’ll receive a rebate of 4,500 miles, for a net outlay of 10,500 miles.
|Paid||30% Milesback||Net Outlay||Value per Mile|
|15,000 (S$100)||4,500||10,500||0.95 cents|
This yields a value of 0.95 cents per mile, somewhat better than the usual 0.67 cents per mile but well shy of the best-ever 45% milesback offer we saw in November 2020.
It’s important to note that miles earned under this milesback promotion cannot be transferred back into KrisFlyer, so to realise that full 0.95 cents, you’ll need to make a few transactions during the promotion period. For example:
- You transfer 15,000 miles to Kris+ and spend them for S$100
- You’ll receive 4,500 in milesback
- Suppose you only spend this after the promotion ends. Your milesback will be worth about S$30 (150 KrisPay miles= S$1), which means your total value for 15,000 miles was S$100 + S$30, or 0.867 cents per mile
So it’s an iterative process, and it takes a few transactions to get to that 0.95 cents/mile figure.
The T&Cs link in the Kris+ app is currently serving up an error message, so let’s see if they fix that.
How does this compare to other redemption options?
Very poorly. 0.95 cents per mile represents relatively poor value for your miles, compared to the other things you can do with them.
|Option||Value per mile|
|Flight Redemptions||2-6 cents|
|Shangri-La conversion||1.4 cents*|
|Pay with miles for flights||1.02 cents|
|Kris+ (under current promotion)||0.95 cents|
|KrisFlyer vRooms||0.8 cents|
|TapForMore conversion||0.73 cents|
|*Assumes you have GC Jade/Diamond status and use points for F&B at 10 GC points= US$1.25. If regular member, 10 GC points= US$1, i.e value is 1.1 cents/mile|
Ultimately this all boils down to how much you value a mile. If your valuation is below 0.95 cents, then this Kris+ promotion can make sense. That said, if your valuation is really so low, you’d be better off earning cashback in the first place.
Earn 5X KrisPay miles with the Kris+ Food Trail
From 8-31 January 2021, Kris+ users will earn 5X the usual KrisPay miles at Perch, The Spot and WAKANUI. This means a rate of 10 mpd, instead of the usual 2 mpd
|Perch||Jewel Changi Airport||
|The Spot||Marina One East Tower||
|WAKANUI||Marina One West Tower||
I’ve never tried any of these three restaurants so I can’t vouch for the quality, but for what it’s worth, Perch is on The Entertainer app (both the full fledged one, and the one that comes free with HSBC credit cards) so there’s some 1-for-1 goodness to be had.
Those who dine at least once at all three restaurants (defined as earning miles from your spend or using miles to offset the cost of your meal) will earn a one-time bonus of 2,000 KrisPay miles.
This is worth ~S$13.33 when used through Kris+, and the bonus miles cannot be transferred into your KrisFlyer account. The T&C of this offer can be found here.
How do I earn miles with Kris+?
The old KrisPay app received a major visual makeover when Kris+ launched, and the “Earn” button was relocated. To find it now, tap “Wallet” on the home screen, then “Earn”. You’ll need to manually type in the amount you’re spending, which generates a QR code that you let the cashier scan.
Frankly, I’m not a fan of this process as anything that requires manual customer input is prone to errors and forgetfulness.
Speaking of forgetfulness, it’s not enough to remember to earn- you need to remember to transfer too. KrisPay miles earned via Kris+ can only be transferred to KrisFlyer within 7 days of the transaction. Wait any longer, and they’ll be stuck in Kris+ forever (with a six month expiry, to boot).
Fortunately, a big “transfer to KrisFlyer” button appears upon completing your transaction, so there’s no excuse to not do it immediately.
Also, if you happen to spend a portion of the miles earned via Kris+, the whole chunk can’t be transferred to KrisFlyer. For example, if I earn 100 miles on a given Kris+ transaction and spend 10 of them, I can’t transfer the remaining 90 to KrisFlyer.
But there’s no reason you should be spending miles via Kris+ anyway, because you earn a dismal 0.67 cents per mile when you do so. This value is sometimes boosted through the various Kris+ milesback promotions, but I still wouldn’t advise it.
What card should I use with Kris+?
There is no such thing as the “best card for Kris+”, because it all boils down to which merchant you’re transacting with. Remember, your credit card is still charged by the merchant as per normal; all you’re doing is using the Kris+ app to pick up some extra miles in the process.
The simplest option is just to use mobile payments (not tapping the physical card) with the UOB Preferred Platinum Visa, which earns you 4 mpd on the first S$1,110 per month.
Otherwise, you can use the following cards for dining, and stack the miles with the miles from Kris+.
|4.0 mpd||S$1,000 per month. Must use contactless
|UOB Lady’s Card
|4.0 mpd||S$1,000 per month. Must choose dining as 10X category
|UOB Lady’s Solitaire
|4.0 mpd||S$3,000 per month. Must choose dining as 10X category
A 30% milesback promotion is not enough for me to bite, but if you’re intending to dine at Perch, The Spot or WAKANUI, then 10 mpd (plus up to 4 mpd with your credit cards) is none too shabby.
Remember to transfer any miles earned via Kris+ to KrisFlyer within 7 days of your transaction, or else they’ll be stuck in the app.