Is there a conversion bonus when moving Amex Membership Rewards points to Velocity then KrisFlyer?

Credit Cards & Credit Card Programs
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Hi, am I missing something?  I’ve been planning to convert credit card points (Amex Rewards/Westpac Altitude) into Velocity points taking advantage of the November 15% bonus.  But it appears that if I first convert into Kris Flyer points at 1:1, and then transfer those to Velocity at 1.35 to 1, I effectively get a 35% bonus. It looks too easy, as I said, am I missing something?

Regards, Ian G

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Yes you have it wrong. 1.35 kris flyer mile = 1 velocity point, effectively a 26% loss not 35% bonus as you state

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Umm, thanks Mark, but it’s the other way round - to quote the Velocity site “The conversion rate of 1.35 Velocity Points to 1.00 KrisFlyer Miles will be available both ways when converting from Velocity Points to KrisFlyer Miles or vice versa”.

So, say 100,000 Amex points can be converted to 100,000 Kris Flyer points or, with the current promotion 115,000 Velocity points, but it appears that those 100,000 Kris Flyer points can be converted to  135,000 Velocity points unless there’s some limitation I’ve missed?

Ian

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I can understand the confusion. The Velocity page seems ambiguous at best, even inferring that Singapore Miles are more valuable tHan Velocity Points. Media Centre

However when you look on the Singapore website it is clear that you will ‘lose’ points/miles when transferring in either direction. https://www.singaporeair.com/en_UK/ppsclub-krisflyer/miles-conversion/.

So the value in such a transfer will depend on how you value each individual points or miles currency.

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Thanks Mark, Keith and Andy,

I’ve finally got it.   Initially reading the Velocity blurb with the quote “The conversion rate reflects the fact that each airline program operates in a different reward program currency” I drew the inference that Kris points were deemed more valuable and there was effectively a “1.35 Kris Flyer point:1 Velocity point exchange rate”.  However after the clue from Mark, I dug deeper and found confirmation in the Velocity q & a’s that 1.35 points in either program is necessary to buy 1 point in the other i.e. more of a ‘tax’ as Keith suggested.   I’m about to take advantage of the Velocity 15% bonus - thanks you all for your help.

 

Cheers, Ian G

 

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