From 23 July to 1 August 2021, Kris+ (formerly known as KrisPay) is offering 40% milesback on all partners across Singapore. This includes the newly-launched partner vouchers section, comprising of prepaid deals at selected dining, retail and activities merchants.
Kris+ 40% milesback promotion
Kris+ users who transact at any merchant up till 1 August 2021 will receive 40% milesback instantly, with no cap on the maximum rebate.
To illustrate how this works, suppose you spend 15,000 KrisPay miles at a merchant (S$100 value). You’ll receive a rebate of 6,000 miles, for a net outlay of 9,000 miles.
|Payment||40% Milesback||Net Outlay||Value per Mile|
This yields a value of 1.11 cents per mile, much better than the usual 0.67 cents per mile. For perspective, 40% milesback is one of the largest offers we see Kris+ running, just shy of the best-ever 45% milesback offer in November last year.
Miles earned under the milesback promotion cannot be transferred into KrisFlyer, so to realise that full 1.11 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 a rebate of 6,000 miles
- Suppose you only spend these after the promotion period ends. Your milesback will be worth about S$40 (150 KrisPay miles= S$1), which means your total value for 15,000 miles was S$100 + S$40, or 0.93 cents per mile
So it’s an iterative process, and it takes a few transactions to get to the maximum value. Of course, it’s a moot point if you only spend KrisPay miles during milesback campaigns (as you should!).
How does this compare to other redemption options?
A value of 1.11 cents per mile would be better than most other options for using miles on the ground. It’s of course nowhere as good as redeeming miles for flights, but those impatient to spend their miles could do a lot worse.
|Options for Spending KrisFlyer Miles|
|Redemption Option||Value per mile|
|✈️||Award flights||2-6 cents|
|🏨||Shangri-La Golden Circle conversion||1.4 cents*|
|📱||Kris+ (with 40% milesback)||1.11 cents |
|✈️||Pay for flights with miles||1.02 cents|
|🚘||KrisFlyer vRooms||0.8 cents|
|🏬||CapitaStar conversion||0.7 cents|
|⛽||Esso Smiles conversion||0.33- 0.67 cents|
|*Assumes you have GC Jade/Diamond status and use points for F&B at 10 GC points= US$1.25. If you’re a regular member, 10 GC points= US$1, i.e 1.1 cents/mile|
That said, there’s no pressing need to spend your miles now as Singapore Airlines is periodically extending expiring miles. This ultimately boils down to how much you value a mile- if your valuation is below 1.11 cents, then this Kris+ promotion can make sense.
Earn KrisPay miles automatically via Kris+
While spending KrisFlyer miles via Kris+ may not be for everyone, earning them definitely should be.
In case you missed it, Kris+ users can now make in-store purchases at 151 participating Kris+ merchants with Mastercard and Visa cards linked to Apple Pay and Google Pay (support for American Express cards will be added from October 2021). KrisPay miles will be accrued automatically upon payment, without the need for the cashier to scan your Kris+ code.
Basically, all you do is:
- Scan the merchant’s Kris+ QR code
- Enter the amount to be paid, and press “Pay” to pay via Apple/Google Pay
Do remember to transfer any KrisPay miles you earn 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).
Kris+’s 40% milesback promotion yields a value of 1.11 cents per mile, which might be tempting to those with a large stash (or with miles stuck in Kris+).
In addition to spending miles at merchants, it’s worth keeping an eye on the partner vouchers section in case something interesting pops up.