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What is your personal valuation of air miles?
So thinking about miles vs cashback and one way to make 'miles work' is to assign a high value to the miles based on business class redemptions. That's great in theory if I actually would have paid cash/full price for that kind of stuff but if travelling on my own accounts, its either economy or heavily discounted biz. When I consider that way, miles don't look appealing anymore. Just wondering what is community views on how to subjectively value miles?
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Elijah Lee
29 Nov 2019
Senior Financial Services Manager at Phillip Securities (Jurong East)
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Pang Zhe Liang
29 Nov 2019
Lead of Research & Solutions at Havend Pte Ltd
1.6 cents each. Anything above is too high for me.
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The topic of valuing miles has been one with a long standing debate, but with the general trend of devaluations, I would peg 1 KF mile at 1.8 cents at most. So any opportunity to buy KF miles below that would be something I would consider, but not speculatively.
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The value of a mile does depend on what FFP it's on also.
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For miles on the side of the bank, also the same valuation, but for example, Citi has 11 transfer partners (and hence a lot more flexibility) so I would probably assign an upper bound of 1.85-1.9 cents to them.