The last time Singapore Airlines ran a KrisFlyer transfer bonus, no one had any idea when travel would resume. Vaccines were nowhere in sight, the Hong Kong ATB was blowing hot and cold, and Restaurant A380 was the only noteworthy travel event (well, from your house to the airport at least).
But fast forward a year and things are very different indeed. With the rapidly-expanding Vaccinated Travel Lane (VTL) scheme, travel is well and truly back on the cards. And to celebrate, Singapore Airlines is offering up to a 15% bonus on KrisFlyer conversions once more.
Get up to 15% bonus on KrisFlyer miles transfers
|KrisFlyer Transfer Bonus|
From 26 October to 22 November 2021, KrisFlyer members who convert at least 10,000 KrisFlyer miles from credit card points will receive a 12 or 15% bonus as follows:
- Convert 10,000 to 49,999 miles in a single transaction: 12% bonus
- Convert 50,000 miles or more in a single transaction: 15% bonus
To be clear, your conversion must be completed by 22 November 2021 to qualify for the bonus. There will be some lead time involved, and you won’t get a bonus if the miles reach your account after 22 November 2021, 2359 hrs (GMT+8).
There is no cap on the maximum bonus that can be earned, and no limit on the number of transfers you can make. This offer applies at all participating banks worldwide; in Singapore, this includes:
|Full List of Participating Banks
Cobrand cards (e.g. American Express Singapore Airlines credit cards or the KrisFlyer UOB Credit Card) will not be eligible for the bonus.
Although it sounds unfair, the impact would likely have been minimal anyway unless you were intending to charge a big-ticket sum to your card during the campaign period (since your miles are automatically transferred each month, instead of piling up in a stash like with bank points).
|👍 Up to 20% bonus for Hong Kong and Indonesia|
If you’re reading this from Hong Kong or Indonesia, you’re eligible for up to a 20% bonus when you convert points from:
For DBS Hong Kong Credit Cardholders, 17% or 20% bonus miles is applicable to the first 10,000 eligible conversions of DBS$/COMPASS Dollar only, after which 12% or 15% bonus miles will apply
Bonus miles will be credited along with the base miles, and you’ll see two separate entries like this:
Bonus applies to KrisPay transfers too
KrisPay miles can then be transferred to KrisFlyer at a 1:1 ratio within 7 days of transfer (don’t forget to do this, or else your miles are stuck!)
Here’s how many miles you’ll receive with a 15% bonus:
|4,000 Citi Miles:
10,000 TY points:
|100 DBS Points:
As always, cardholders take a 15% penalty when they transfer points via Kris+ (e.g. 100 DBS points are normally worth 200 miles, but you only get 170 miles),
While it seems like a 15% bonus would offset a 15% penalty, that’s not quite how it works! Thanks to the magic of math, you’d need a 17.6% bonus to be indifferent. Therefore I’d advise against taking this route unless you’re desperate for quick miles (since conversions are instant).
Stacking with “unlock status credits” offer
|Unlock Status Credits|
From now till 28 February 2022, Singapore Airlines is offering KrisFlyer and PPS Club members the opportunity to earn status credits on the ground- no flying necessary.
One of the ways to earn status credits is by transferring credit card points, with Elite miles and PPS Value credited as follows:
|Convert KrisFlyer miles
(min. 10,000 miles)
|1 Elite mile per 5 KrisFlyer miles||1 PPS Value per 10 KrisFlyer miles|
|Convert KrisPay miles
(min. depends on bank)
|1 Elite mile per 5 KrisPay miles||1 PPS Value per 10 KrisPay miles|
Elite miles and PPS Value will be credited within seven working days of the qualifying transaction posting, although in practice it’s much faster.
This campaign stacks with the transfer bonus, and the 12/15% bonus will also be eligible to earn Elite miles and PPS Value. For example, if you transfer 50,000 KrisFlyer miles, you’ll receive 57,500 KrisFlyer miles and 11,500 Elite miles.
Of the 11,500 Elite miles:
- 10,000 Elite miles (attributable to the base KrisFlyer miles) will be credited within seven working days
- 1,500 Elite miles (attributable to the bonus KrisFlyer miles) will be credited within 3 weeks after the campaign period, i.e. by 14 December 2021
It’s basically an opportunity to kill two birds with one stone: top off your KrisFlyer account while requalifying/qualifying for elite status. You could even qualify for KrisFlyer Elite Gold, then transfer further points to requalify for a further year, giving yourself at least two years of status.
I’m really quite tempted, and will be posting some further thoughts later this week.
How long do transfers take?
|American Express||24 hours|
|Bank of China||>1 week|
||2-3 working days|
|DBS||2 working days|
|Maybank||2 working days|
|OCBC||2 working days|
|Standard Chartered||~1 week|
|UOB||2-3 working days|
|*Transfers are batched by week, so you might get lucky and wait less, or unlucky and wait longer|
To be safe, transfer whatever credit card points you have at least a week before the 22 November 2021 deadline.
Should I transfer my points now?
If you’re thinking about transferring points to take advantage of this bonus, here’s a few things to consider.
3-year expiry countdown starts immediately
While certain bank points may be evergreen, once transferred to KrisFlyer they’ll be valid for a 3-year period (unless you’re a PPS/Solitaire PPS Club member, in which case they don’t expire).
Singapore Airlines was diligent about extending KrisFlyer miles during the pandemic, but the resumption of travel via the VTLs means they’re unlikely to offer any further concessions. This won’t really be an issue unless you don’t see yourself travelling for a further 36 months, however.
|👍 Protip: Mai Kan Cheong|
|By waiting until 1 November 2021 to make the transfer you gain an additional month of validity (i.e. miles expire 30 November 2024 instead of 31 October 2024).|
You lose flexibility
Unless your bank only has a single transfer partner (e.g. OCBC), you lose flexibility when transferring points to KrisFlyer (since conversions are one-way only). This rules out the possibility of choosing a different frequent flyer program down the road, to take advantage of its sweet spots or other transfer promotions.
It’s worth considering especially if you’re a Citibank customer, because those Citi Miles and ThankYou points are the most flexible transfer currency in all of Singapore.
The ‘D’ word
For reasons I’ve covered before, I don’t think we’ll see a KrisFlyer devaluation in the near future.
You might argue that we’re seeing a “soft” devaluation already, insofar as the cheaper Saver awards have become near impossible to find in First Class (and in Business Class on VTL routes, unless you’re a PPS or Solitaire PPS Club member), but I believe an actual award chart hike is not yet a concern.
Of course there’ll be those who disagree, and the thing about crying “devaluation” is you’ll eventually be proven right. In any case, come what may you’ll be given at least a couple months’ notice, and it’s not like there’s no way of redeeming miles for flights now.
I suppose the other way to view it is that a 15% bonus helps cushion the impact of a future devaluation.
To learn more about the history of KrisFlyer devaluations, have a read of the article below.
I didn’t think we’d see another KrisFlyer transfer bonus, but lightning apparently does strikes twice. It’s a great opportunity for those who have been squirreling away points during the pandemic, and a 15% bonus may even make Advantage pricing slightly more palatable.
I’ll be writing some thoughts about stacking this promotion with the ongoing one for earning status credits on the ground, so stay tuned for that.