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You should follow the social media accounts of companies such as airlines and hotels. What is a KrisFlyer mile and how much does it cost? Again remember that this allassumes Singapore Airlines is your only airline choice, and you will fly with them regardless, which makes youa very fussy customer most people will seek a cheaper fare with another airline if they cannot redeem with SIA, and this reduces the value of the miles. For example it used to be S$34 on top of your miles for an award redemption from Singapore to Bali, now its S$50. You enter your destination and dates to search for hotels. While Qantas is still the cheapest on the route, at S$12,200, the price rises to S$11,400 for Etihad. Buying at a known discount on their value (again based on our personal valuation, yours will depend how you use them)also protects against a future devaluationof the scheme. Business would be $5,942.40, a massive jump in cost of 144% (more than double). If you dont use your miles they are just points, if you dont spend your monies, they are just papers. This isnt strictly-speaking a non-flight option, but I avoided addressing it in previous guides about award redemptions because its, When you pay with miles, youre using your miles, Can use any combination of miles and cash, subject to minimum 980 KrisFlyer miles, Must have at least 50% of the miles required; buy balance from SQ at US$40/1,000 KrisFlyer miles, When paying with KrisFlyer miles, the value of a mile is, is an OTA (online travel agency, e.g. Singapore Airlines has been chipping away at the value of KrisFlyer miles for Business Class awards approximately every 18 months lately, at around the 10% mark each time. We have done a lot of redemptions lately in First Class and Suites on Singapore Airlines, but as weve mentioned the valuation here isnt real, because like most of our readers wed hardly ever part with the cash fares charged for this cabin class if a redemption werent available. The conversion rate from KrisFlyer to Velocity is 1.55 KrisFlyer miles= 1 Velocity point (Velocity to KrisFlyer conversions are at 1.55 Velocity point= 1 KrisFlyer mile). Therefore, if an economy ticket costs $500, a business class ticket would likely cost at least $1,000. Not only do you get inferior value for your miles, you also pay inflated prices compared to elsewhere. One way to think about it is that a return First / Suites saver redemption from Singapore to London, for example, could be worth up to S$14,200 two months from now. What cards should I use to earn miles FAST? To redeem the reward online, you should have one Advance Upgrade reward for each passenger in your booking. KrisShop is selling a MacBook Pro, which will be delivered to your door, for only 0.8 cents per mile less than the retail price (S$2,045). In Australia, Point Hacks has a maximum earn threshold (an upper limit to purchase) of 1.9 Australian cents (1.9 Singapore cents). Youd get much better value by using a cashback site like. You would still have over $2,500 left to pay. How much is a KrisFlyer Mile worth? Most Economy Class itineraries now provide good value for KrisFlyer miles. Of course there will be very few opportunities for you to buy miles through the year at or below your threshold level in that case, but at least youll be comfortable whenever you do. If you earn 50,000 Elite miles within a year, your KrisFlyer Elite Gold status will be upgraded. Its true that your own limit for purchasing miles may never have been set at two cents each; however, unless there was a compelling reason, we always avoided paying that upper limit.. One of the easiest ways to generate a very high assumed value for a KrisFlyer mile, is a redemption into First / Suites. However, if youre booking during peak travel periods, you may need to use more points. In addition to earning bonus miles, you will be able to take advantage of incredible travel deals. As always, and as we will show in this article, you can get much less value for your miles (even negative value, as weve often demonstrated), but used properly you can usually get much more value than 1.9 cents eachfrom them. KrisFlyer miles are valid for 36 months; suppose youve got 5,000 miles expiring soon. Instead of being able to redeem in that cabin directly through the airline, you can usually upgrade through KrisFlyer and receive a confirmed redemption for little more. As you can see things were much better in 2017, though as mentioned its not a like-for-like comparison due to the routes analysed and the time of year (we were looking at short and medium-haul prices in February and long-haul prices in May last time round, this time its September and December respectively). It therefore makes little sense to buy miles at your average redemption rate. The summary of the methodology, and the individual award value calculations, are shown in the following PDF document: Achieved Miles Value Table June 2019(PDF, 211KB). Redemption rates for KrisFlyer miles in Business Class have risen from 2.1 cents in Economy Class to 2.3 cents in Economy Class. Youre basically accepting a valuation of 1.1 cents per mile if you take this option. If you redeem at the peak of the season, you will see a higher value. However, as a general rule of thumb, business class tickets are usually at least twice as expensive as economy tickets. One cent, or, more accurately, 1.02 cents, is all you need. Also, while derisory in value, the discount for part payment with KrisFlyer miles is helpful in one sense. This requires very little extra effort, planning or flexibility in your normal schedule. Air Canada, which charges S$11,400, is the most affordable option on the route, while Qantas, which charges S$12,200, is the most expensive. When changing flights, you must first purchase your ticket; for example, some flights only allow for a limited number of upgrades. While this offers great flexibility, since an award redemption does not have to be available, it doesnt represent good value, and you should probably never do it. In fact very few people seriously attempt to value a KrisFlyer mile, and kudos to them for doing so. While it sounds a wild range, in some sense each can be defended (well 7.0 is looking a bit rich now to be honest, but you know what we mean). Part 1: Introduction to KrisFlyerPart 2: How do I earn KrisFlyer miles?Part 3: Basics of award flight redemptionsPart 4: Changes and cancellation fees on KrisFlyer award ticketsPart 5: Redeeming miles for Singapore Airlines FlightsPart 6: Singapore Airlines First & Business Class SeatsPart 7: Redeeming miles for Singapore Airlines upgradesPart 8: Redeeming miles for partner flightsPart 9: Redeeming miles for partner flight upgradesPart 10: Redeeming miles for non-flight options. As weve shown in Part 2, very few Economy Class itineraries now provide good value when using your KrisFlyer miles. This isnt strictly-speaking a non-flight option, but I avoided addressing it in previous guides about award redemptions because its conceptually different from redeeming a flight with miles. The result was, we achieved an average value of3.18 cents per mile. But you won't lose money assuming a 1.9 cents per mile valuation, provided you redeem sensibly. How much is one KrisFlyer mile worth? your own personal valuation. The 1,000 Bonus KrisFlyer Miles will be awarded upon the completion of your next flight on Scoot, and it can only be credited to the principal member. No is the answer, on that assumption wed be making a loss. Thats not a particularly good use of miles, especially when revenue rates at these hotels may be lower than the implicit cost of miles. It is expected that the value of the company will fall by 8%-9% over the next year. If you need airline miles for a trip, you can also buy them from Sell My Miles, which has the most comprehensive range of prices and options. In the end, it simply isnt worth it. Earn 1 KrisFlyer Mile for every US$1 of qualified spend. The answer depends on a few factors, including the route youre flying and the time of year. It generates a theoretical miles value of 5.51 cents per mile versus the Singapore Airlines fare, 4.71 cents per mile against the Qantas fare, and 4.39 cents per mile against the Etihad fare. Here is a look at how much airline miles you can expect to earn from Krisflyer. Each mile flown on Singapore Airlines (SQ) is worth between 0.66 cents and 3.21 cents per mile. You can save up to $6,000 on cash by using the Saver award both ways. Through Singapore Airlines, Star Alliance airlines, and other partners, KrisFlyer Miles can be redeemed for award flights. Offers may only apply to new-to-bank customers. Bottom line here is that whenever you convert your KrisFlyer miles to any form of cash (or pseudo cash) its almost always at a terrible rate. Sure, theearnfunction is a useful way to pick up some free miles, but the burn rate is so terrible that its not even worth considering. After spending $4,500 within the first 3 months of opening your account, you will receive a one-time bonus of 50,000 miles equal to $500 in travel if you use them on purchases. Points Hacks in Australia are limited to a maximum of 1.9 Australian cents (1.9 Singapore cents) per purchase, which is the upper limit. Lets say you planned to be in Melbourne for an event 11 months from now, but it was only 50% certain that the event would go ahead, or perhaps that you would be able to secure the annual leave. Keep in mind- its still bad value, because those 3,000 KrisFlyer miles are worth about $54. The airline traces its history to the 1940s and operates several ultra-long-haul routes, including routes that rank among the world's longest-distance nonstop flights. Well yes, but what were looking for here as we said before is more of an upper limit to buy. In this case you would be mad to part with theS$736.70it would cost for the cheapest non-refundable, non-changeable return Economy Lite fare, as theres a good chance youll never use itand would simply lose the money. The value of a mile differs from person to person because it is determined by how you typically use it, as well as the type of alternative you would find if you couldnt. The value in First Class is in the experience, rather than the cost saving. Accor Live Limitless No idea Best Western Rewards No idea Choice . Weve therefore focused on our predominant use of the KrisFlyer scheme, saver Business Class redemptions both short and long, to more accurately assess the value we achieve. This rate helps better visualize why points transfers from KrisFlyer to Golden Circle are value negative: 12 KrisFlyer miles (21.6 cents @ 1.8 cents each)= 1 Golden Circle Point (13.6 cents), Youre basically accepting a valuation of. You will get the miles if you choose to pay with miles as part of a full fare ticket. Of course using the miles and just pay $94 is the better deal. TapForMore is the loyalty currency of the PAssion card, and points can be redeemed at Dairy Farm Group merchants (Cold Storage, Giant, Guardian, Jasons) at a ratio of 150 points= $1. The KrisPay miles reward must be claimed within 12 months of earning 5,000 Elite miles on flights operated by Singapore Airlines and/or Scoot. You need at least 7,500 miles for a free flight on American Airlines. Only one Bonus KrisFlyer Miles reward may be used for one flight segment, and it can only be used by the principal member. Average: 1.7 cents per mile. If you use your milesonlyto redeem into Economy Class,be careful buying at anything over 1.4 centsper mile, as you may not realise a good return when it comes to redemption. In Australia Point Hacks goes with a maximum earn threshold (an upper limit to buy) of 1.7 Australian cents for KrisFlyer miles (1.6 Singapore cents), with a target redemption rate of 1.9 Australian cents (1.8 Singapore cents). Your Elite miles track you towards a higher membership tier or requalification of your current Elite status, and give you rewards when you reach specific milestones, starting from 1,000 Elite miles. As a result, the miles youll have to pay for the trip will be 240,000, resulting in a mileage value per mile of 2.34 cents for KF regulars and KF Elite Silver and above status members. They can also be used to upgrade your seat on a flight or to get access to airport lounges. KrisFlyer Milestone Rewards are awarded for the first 100,000 Elite miles earned within a single calendar year. Premium economy redemptionsare not a good way of using KrisFlyer miles, and thats not just because we dont like the product (we dont, by the way), its because in miles terms its simply too expensive. All of this still sounds good, after all approximately 3 cents+ per mile is normally far above what you obtained them for. UOB PRVI Miles ; AMEX Krisflyer ; The irony is that credit cards marketed as "Miles" cards mostly get you a mere 1.1 to 1.4 miles per dollar (MPD). When we look at all 32 Singapore Airlines KrisFlyer redemptions against the best available alternative fare and then assume we took all of them at pre-March 2017 redemption rates, March 2017 to January 2019 redemption rates and current redemption rates, including applicable taxes in those respective periods, it shows the following: Overall we are looking at an 8-9% loss in value if we made all 32 redemptions at todays rates compared to making all 32 at last years rates. The redemption doesnt therefore translate to a true cash saving, as you wouldnt have been prepared to part with that amount of money for the ticket, had the redemption not been available. Miles calculator Where will your miles take you next? That means assessing them against the best value, but stillrealisticfull fare cash booking. This is a long article, so lets cut to the chase for those who want a quick answer. However, if you want to book a round-trip saver redemption using KrisFlyer miles for your flight its going to set you back 129,000 miles in Premium Economy, and 184,000 miles in Business Class, only a 43% increase. After you reach 25,000 Elite miles, you must wait up to one day to upgrade your membership to Elite Silver. The lack of non-stop options on this route makes it an Economy Class redemption that I believe is worthwhile. Capital One miles used to be worth a flat 1 cent apiece as statement credits to cover travel purchases, but the program now also offers 15 . Although KrisFlyer doesnt have nearly as many redemption options as some frequent flyer programs in the USA, theres still a healthy range of ways to spend miles on the ground or in the air. True, Singapore Airlines allows you to earn KrisFlyer miles on full-fare (cash) tickets, but award redemptions are not. In order to fairly assess the value of our redemptions, we had to honestly look at what our alternative would have been had those redemptionsnot been available. This reward cannot be combined with a redemption ticket (including HighFlyer), with a redemption upgrade, or with mySQupgrade. This represents poor value, given that you could easily get much more value by redeeming your miles for flights. If you assume a price of 1.9 cents per mile, you will not lose money. Furthermore, KrisFlyer Elite and PPS Club members can get a free status match. You will be able to redeem more frequently during peak times if you can do so. Even then, youll still have to be careful to check for each trip when its better to pay cash rather than miles. As a result, we believe that if we achieve a higher return than that, we can achieve a higher purchase price for KrisFlyer miles, which is currently estimated to be around 2.0 cents per mile. Earn points as you use a loyalty program such as American Express Membership Rewards or Chase Ultimate Reward. Add the fact that your miles are worth a paltry 0.66 cents each, and its easy to understand why most people give this a miss altogether. The promo code is valid with a minimum spend of S$100 on regular-priced items on KrisShop.com. It was probably never exactly right, as weve said theres no correct valuation you can achieve much worse and much better than almost any sensibly quoted figure. This is the only situation where Id use my miles for non-flight options. Short answer: it depends. It is not easy to find acheaprevenue ticketwith this level of flexibility. If you have mixed KrisFlyer miles and cash to purchase your ticket, the bonus KrisFlyer miles will only be awarded on the amount paid for by cash. The Advance Upgrade reward is valid for 12 months from the date of issue for eligible flights operated and marketed by Singapore Airlines. Thats not only because the cost of the ticket is very high, but also that there are very few cheap First Class alternatives with other carriers on most routes. Theres a slight sense of strangeness that its lower than an economy flight, but this is due to the fact that I dont regard the luxury of business class as as high as I do on economy. You can use your KrisFlyer miles to pay for purchases at a rate of 1 mile= 0.8 cents. Flights that are fully paid with miles or Scoot vouchers are not eligible for the bonus KrisFlyer miles. So consider yourselves warned! We looked at all 32 Singapore Airlines KrisFlyer redemptions to see which was the best available alternative fare. The following partners have a 1:1 transfer ratio, which means if you transfer 1,000 Capital One miles, you will receive 1,000 points in your rewards program account. If youre flexible with your travel dates and destination, its often possible to find business class flights for fewer miles. All pretty impressive returns. What about upgrading with miles (eg buying a PE and upgrade to Business) instead of getting a full Business redemption ticket as upgrade can be gotten easily on the spot while buying a full redemption ticket has to be waitlisted most of the time. 6. How much is one KrisFlyer mile worth? Given this, why would anyone ever use their miles this way? If you use both methods, you will save $6,800 on your cash fare of 3.26 cents per mile on your 184,000 miles. You spend an average of 12.5 cents per elite mile. More on that later. Use the Miles to Dollars Calculator to get an estimate value of how much your airline miles or are worth based on the average redemption value. 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