Singapore Air is back with another KrisFlyer Bonus Miles Conversion Campaign 2021. Last year’s campaign saw 15% bonus miles for those converting their bank points to KrisFlyer miles. This time round, you can get either 12% or 15% bonus miles depending on how much you convert, and it stacks with their ongoing promo that allows KrisFlyer members to upgrade their status tiers without flying.
Between 26th October 2021 to 22nd November 2021:
|Convert bank points to 10,000 to 49,999 KrisFlyer miles||12% bonus miles|
|Convert bank points to 50,000 or more KrisFlyer miles||15% bonus miles|
Note that each conversion will be awarded its own bonus miles. E.g. if you converted 20,000 miles in a transaction, then another 50,000 miles, your 20,000-mile transaction will get 12% bonus miles, and your 50,000-mile transaction will get 15% bonus miles.
When you convert from bank points, there tends to be one or two working days of processing time depending on your bank, although most of them may specify as many as 5 to 7 working days. Do convert early to avoid any anxiety in the crediting of bonus miles.
Based on the last campaign, bonus miles typically come in a day after the normal conversion has taken place. Here is my conversion from OCBC in December 2020:
Upgrading status without flying
Concurrently, Singapore Air is also allowing KrisFlyer members to upgrade/renew their membership tiers by spending or converting bank points into miles. Both promos stack, and bonus miles also awarded also contribute towards accruing status credits for the different KrisFlyer membership tiers.
For every 5 KrisFlyer miles accrued, you get 1 Elite mile.
You also get to upgrade or renew your PPS membership, and you can see more details in Singapore Air’s website.
Details: Unlock Status Credits without Flying
Value of points
While most people who use point cards would invariably redeem their bank points for miles, I would often redeem points for vouchers or cashback if the redemption value makes sense. 1 OCBC Travel$ can be redeemed for 1 KrisFlyer mile (or up to 1.15 miles with this promotion), for instance, but can be redeemed for 1.63 cents in vouchers.
Do check this list of points I’ve compiled and their respective values if you wish to make sense of whether you redeem your bank points for miles.
Personally, I feel that redeeming my Travel$ for vouchers at a value of 1.63 cents each is more worthy than redeeming them for miles for flights. I value each KF mile at around 1 to 1.5 cents at best, because I’m not willing to pay a high price for business class tickets.
A business class return ticket to Tokyo costs 94,000 miles. You could convert 81,740 Travel$ (strictly speaking 82,000 since you redeem Travel$ for miles in 1,000 blocks) under this 15% promo to get the required miles. You could also convert that much Travel$ into $1,332 worth of vouchers. Would you give up $1,332 of vouchers for a business class return ticket to Japan? I know many people who would, but probably many more who wouldn’t. Those in the latter camp probably shouldn’t convert their Travel$ in this case.
OCBC$ is a different story. I only need to convert slightly above 200,000 OCBC$ to get the 94,000 miles under this extra miles promotion. That amount of OCBC$ is only worth $756 in vouchers. I would gladly take a business class ticket to Tokyo over that.
Last year’s campaign gave me pause because of how uncertain travel was. This time round, it seems a lot more optimistic and promising. I still have a sizeable stash of bank points, and would certainly make at least one or two conversions, provided I can’t get a better value for my points elsewhere.
Keep up to date on the best cashback/mile cards, savings accounts, attractive deals, and more tips to maximise your financial wellbeing by subscribing to my Telegram channel.
Subscribe to the channel, then join the group chat. You would often benefit from the tips exclusively shared in the group chat! See the Things You’ve Missed here
Disclaimer: I may receive an affiliate/referral fee when you sign up for services/products on this site, and such fees keep the site running. I would only recommend services/products I would personally use or recommend to my own friends and family, but I do not provide any warranty or guarantee for the quality of these services/products. Please exercise due diligence when signing up for any service/product as I will not be liable for any personal loss, financial or otherwise. Thank you for supporting my site!