AMEX changes MGM bonuses on KrisFlyer cards from miles to statement credits

This could very well be a sign of the times, but American Express has revised their Member-Get-Member (MGM) bonuses for the KrisFlyer credit cards, replacing the previous gifts of 4,000/7,500 miles with S$80/120 in statement credits. 

Spending requirements remain the same, and this change takes effect from today (20 April). However, Milelion readers will still be able to access the old offers if they so wish- read on for details. 

AMEX’s new MGM bonuses

The table below compares the old and new MGM offers for the AMEX KrisFlyer Credit Card and the AMEX KrisFlyer Ascend. 

For Referee (i.e the one applying)
	Old MGM (until 19-Apr)	New MGM (from 20-Apr)
AMEX KrisFlyer Credit Card	Spend S$2K in 3 months, get 4,000 miles	Spend S$2K in 3 months, get S$80 Apply Here
AMEX KrisFlyer Ascend	Spend S$2K in 3 months, get 7,500 miles	Spend S$2K in 3 months, get S$120 Apply Here

For Referrer (i.e the one referring)
	Old MGM (until 19-Apr)	New MGM (from 20-Apr)
AMEX KrisFlyer Credit Card	4,000 miles upon approval	S$80 upon approval
AMEX KrisFlyer Ascend	7,500 miles upon approval	S$120 upon approval

To me, the AMEX KrisFlyer Credit Card switch seems fair enough. 4,000 miles have been replaced with S$80, which implies a value of 2 cents per mile. 

However, the math behind the AMEX KrisFlyer Ascend switch isn’t as favorable. 7,500 miles have been replaced with S$120, which implies a lower value of 1.6 cents per mile. I was hoping they’d offer at least the same rate, seeing as how the Ascend is a mandatory-fee card. 

In any case, Milelion readers can continue to enjoy the old offer of 4,000/7,500 miles when applying through the links below:

• AMEX KrisFlyer Credit Card
• AMEX KrisFlyer Ascend

In addition, do take note of the following:

• If you’re applying for the AMEX KrisFlyer Credit Card, it’s better to apply via this link and earn 10,000 miles with S$1,500 spent in the first 3 months
• If you want to participate in the Milelion x AMEX Million Mile Draw, you cannot apply for the statement credit offer. Use the link in the previous bullet point, or this link

What spending is eligible?

The minimum spend can be met with any purchases of eligible goods or services which post to your account within the first 3 months after approval. AMEX has a list of excluded spending categories here, but the key ones to note are: 

• GrabPay top-ups
• Insurance
• SPC transactions
• Utilities

For the avoidance of doubt, hospital transactions, donations, and anything else not explicitly stated in the exclusion list will count as eligible spend. 

MGM offers stack with regular sign-up bonuses

As a reminder, MGM offers will stack with regular sign-up bonuses, and spending will double count towards both the MGM offers and the regular sign-up bonuses. 

You can read about the new sign-up bonuses here, but to summarise: 

• AMEX KrisFlyer Credit Card: Spend S$3,000 in the first 3 months and receive:
  • Existing customer: 5,000 miles
  • New customer: 5,000 miles + 1-night Conrad Centennial staycation. 
• AMEX KrisFlyer Ascend: Spend S$5,000 in the first 3 months and receive
  • Existing customer: 1-night Shangri-La Hotel staycation
  • New customer: 1-night Shangri-La Hotel staycation + 10,000 miles

AMEX defines a new customer as one who does not hold any AMEX principal credit cards now, or in the past 12 months. 

Conclusion

It’s a matter of personal preference as to whether the statement credits or miles are more desirable, but at least Milelion readers will still be able to chose from both. If nothing else, it’s a way of partially offsetting the non-waivable S$337.05 annual fee on the AMEX KrisFlyer Ascend. 

Once again, if you plan to apply for an AMEX KrisFlyer Credit Card or AMEX KrisFlyer Ascend, don’t forget to submit your entry for the Million Mile Draw. Entries close 30 April 2021.