OCBC credit cards offering 50% transfer bonus to IHG One Rewards

Back in July 2023, OCBC finally launched its eight new airline and hotel partners, offering cardholders additional transfer options beyond Singapore Airlines KrisFlyer. 

Unfortunately, the transfer ratios for most partners aren’t great. For example, compared to KrisFlyer you’ll receive 10% fewer miles when transferring to British Airways Executive Club and Etihad Guest, and 25% fewer miles when transferring to Cathay Pacific Asia Miles.

Transfer Partners
	90°N Miles & VOYAGE Miles	OCBC$
	1:1 (VOYAGE)	25,000 : 10,000
	1,000 : 1,000 (90°N)
	1,000 : 1,000	10,000 : 4,000
	1,000 : 1,000	10,000 : 4,000
	1,000 : 1,000	10,000 : 4,000
	1,000 : 900	10,000 : 3,600
	1,000 : 900	10,000 : 3,600
	1,000 : 750	10,000 : 2,900
	1,000 : 700	10,000 : 2,800
	1,000 : 500	10,000 : 2,000
All ratios expressed as OCBC points : partner miles/points

On the bright side, OCBC is offering limited-time transfer bonuses to boost the value. In August we saw a 50% transfer bonus to Marriott Bonvoy, and this month there’s a 50% transfer bonus to IHG One Rewards.

OCBC offering 50% transfer bonus to IHG One Rewards

From 1-31 October 2023, eligible OCBC cardholders can redeem 90°N Miles, OCBC$ and VOYAGE Miles for IHG One Rewards points at the following ratios:

1,000 90°N Miles	1,000 1,500 IHG One points
1,000 VOYAGE Miles	1,000 1,500 IHG One points
10,000 OCBC$	4,000 6,000 IHG One points

Eligible cards refer to:

• OCBC Titanium Rewards Credit Card
• OCBC 90°N Card
• OCBC VOYAGE Card
• OCBC Premier VOYAGE Card
• OCBC Premier Private Client VOYAGE Card
• Bank of Singapore VOYAGE Card

Interestingly the OCBC Premier Visa Infinite (which earns OCBC$) is not listed, which I suspect might just be an oversight (but don’t take my word for it).

The bonus will be applied automatically, with no registration required. There is no limit on the maximum bonus you can enjoy. Base and bonus points may be reflected in two different transactions, and should take up to one business day to process.

To transfer points to IHG One Rewards, you’ll need to visit the STACK Rewards platform where the eight new transfer partners are located (unlike KrisFlyer, which is on the legacy OCBC Rewards portal).

Click on the Points Exchange tab, and scroll until you see IHG One Rewards. The regular ratio will be reflected, but you’ll see a notice about the additional 50% bonus.

A minimum transfer of 1,000 90°N /VOYAGE Miles and 10,000 OCBC$ is required, but subsequent conversion blocks fall to 100 90°N /VOYAGE Miles and 1,000 OCBC$.

As a reminder, the usual S$25 conversion fee for IHG One Rewards and the seven other partners on STACK Rewards is waived till 31 October 2023. Remember: KrisFlyer miles are not available through STACK Rewards, so conversion fees still apply. 

Terms & Conditions

The T&Cs of this offer can be found here.

Is it worth it?

1 IHG One Rewards point is worth about 0.5 US cents, so if we think about this in terms of opportunity cost, you’re basically trading 1 KrisFlyer mile for 1.02 SG cents, regardless of whether you’re converting 90°N Miles, OCBC$ or VOYAGE Miles.

This is probably something you should pass on, since you could get 1 cent per 90°N Mile or VOYAGE Mile when converting them to cash credit. That cash could then be used to book IHG hotel rooms, while earning further IHG points on your stay.

But if you wish to proceed nonetheless, do remember that IHG One Rewards does not publish an official award chart, and award nights are priced dynamically based on demand. 

This means you should do a search for your preferred dates and destinations and make a cash versus points comparison. A few things to note:

• When you redeem points, you don’t need to pay taxes or fees. Therefore, you should use the post-tax, post-fees cash rate when calculating the value you get per point
• If the difference between cash rates or buying points is marginal, the cash rate would make more sense because it lets you earn IHG points

Some properties which might be of interest include (remember that the prices below may change depending on which date you’re looking at):

• Six Senses Laamu Maldives (100,000 points per night, versus US$1,500 per night)
• InterContinental London Park Lane (120,000 points per night, versus US$820 per night)
• Kimpton Shinjuku Tokyo (79,000 points per night versus US$527 per night)
• InterContinental Hotels Osaka (87,000 points per night versus US$547 per night)

Don’t forget that IHG periodically runs discounts on hotel redemptions worldwide, which allow you to stretch your points even further. Just last month, we saw a 15% off sale for Diamond and Platinum Elite members, valid at all IHG properties worldwide. 

Save 15% off IHG One Rewards hotel redemptions worldwide

IHG One Rewards points do not expire for Silver Elite or higher members. For basic Club members, points expire after 12 months without account activity. Earning or redeeming at least one point will extend the entire balance for a further year.

Conclusion

For the month of October 2023, OCBC cardholders can convert points to IHG One Rewards with a 50% bonus. Unlike the Marriott Bonvoy transfer offer, however, it’s much harder to see a use case for this, since you’re getting around 1 cent per mile in value. 

Remember, IHG is running a flash sale on points at the moment (though it ends at noon today!), so if you want to top off your balance then that may be a better idea.