Kris+ Earn Rates Dropping For Some Merchants From 1st May, Notably Electronics Retailers and Travel Agencies

From 1st May 2023, Kris+ will drop the earn rates on some merchants. Notably, just about every major electronics retailer on the app will see earn rates fall from 3 bonus miles per dollar to just 1 start from next month.

Bonus miles awarded by Kris+, as usual, is on top of your card rewards. Do read the Kris+ guide I wrote if you are unfamiliar with the app.

Kris+

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Until 31st March 2024: spend 2 transactions of at least S$50 each with a Mastercard credit/debit card and get bonus 750 Krispay miles (S$5 rebate). Make sure to start the challenge first and this is limited to the first 2,500

Gives miles on top of your usual card rewards! Not a miles person? The miles can also be used as cashback. Get as much as additional 9 miles or 6% cashback! See the review here and check out the guide

Every major electronics retailer affected

Kris+ is accepted at major electronics retailers like Audio House, Challenger, Harvey Norman etc. and they all give a uniform bonus 3 miles per dollar with payments via Kris+. After 1st May, the bonus earn rate is now 1 mile per dollar.

More specialised IT stores like Dreamcore and Mayer do not seem to be affected at this time:

RetailerOld Earn Rate (before 1st May)New Earn Rate (after 1st May)
Audio House3 miles per dollar1 mile per dollar
Challenger3 miles per dollar1 mile per dollar
Harvey Norman3 miles per dollar1 mile per dollar
iStudio3 miles per dollar1 mile per dollar
Parisilk3 miles per dollar1 mile per dollar
Bowers & Wilkins6 miles per dollarUnaffected
Dreamcore6 miles per dollarUnaffected
Mayer9 miles per dollarUnaffected
Seth
Seth

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Rates are dropping for travel agencies too

Travel agencies are another category of merchants that see a rate drop across the board:

Travel AgencyOld Earn Rate (before 1st May)New Earn Rate (after 1st May)
ASA Holidays3 miles per dollar1 mile per dollar
CTC Travel3 miles per dollar1 mile per dollar
EU Holidays3 miles per dollar1 mile per dollar
Hong Thai Travel3 miles per dollar1 mile per dollar
L.G.E Travel Singapore3 miles per dollar1 mile per dollar
UOB Travel3 miles per dollar1 mile per dollar
Super Travels3 miles per dollar1 mile per dollar

Some restaurants and eateries are also affected

Eating places are not spared too and some dining establishments are decreasing the Kris+ earn rates from 1st May. I suggest looking for your favourite eatery in Kris+ to see if they are affected.

My favourite egg tart place, Honolulu Cafe, will see its earn rate drop from 3 to 1 mile per dollar. Devastating. On the brighter side, many other dining places are maintaining their current earn rates.

Spend now, probably

If you have things that you were meaning to buy, it probably goes without saying that you should make your spend now before the nerf kicks in. Electronics and travel are things that are pretty easily bought in advance, and it may be something worth doing if your expenditure is significant.

Many restaurants on Kris+ also offer dining deals and cash vouchers that you can buy before May to lock in their older, higher earn rates.

April spend promo: get S$15 with S$60 spend

It’s also worth noting that April sees a new spend promotion when you use a Mastercard credit or debit card on Kris+. You get S$15 worth of KrisPay miles when you make 3 transactions of minimum S$20 each. Before making your spend, make sure to accept the challenge within the app’s Challenges tab.

Conclusion

The drop in bonus miles isn’t a good thing, clearly, but Kris+ remains a very good wallet app to use. Good things seldom last, of course, but nerfs should be handled in a way that is fair to users. In this respect, we should commend Singapore Air for advance notice for the drop in earn rates a month before they happen.

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