Asked on 02 Feb 2020
Which is a better option? What the pros and cons for each scenario?
I would recommend trying not to redeem for economy.
If you accumulated them in KF, you'll have 3 years to use them. If you are able to use a miles card for general and specialised spending, then you should in theory be able to accumulate another 30K-60K miles spending $12K a year for two years, plus with the help of some sign up bonuses, etc.
Adding that to your balance will give you around 60K - 90K miles, which is very respectable. Then, wait for a spontaneous escape promotion from SQ in year 3 and redeem discounted Business Class tickets to some destination you want to go to.
Hopefully after you have come back from your spontaneous escape trip, you would have been converted to the miles game.
However, if you are adamant that you will not be touching a miles card, then 30K miles can still be put to good use for a spontaneous escape redemption, except maybe only one way, and to destinations that are nearer. Again, please redeem for business class, unless there is a very compelling case.
I had this issue as well but unfortunately my miles were due to expire as I had started accumulating them 2 years+ ago before I got my miles CC. I ended up redeeming round trip economy tickets to a nearby destination because I felt it would be better than letting my points go to waste or paying to extend the miles as I am not likely to have any big purchases coming up.
I like Elijah's advice - if your points are not expiring anytime soon, definitely try to accumulate more points within the 3 year period so that you can qualify for a business class trip.
In addition, spontaneous escapes tend to have many good deals especially if you are flexible/able to travel or take leave on short notice (the next month).
Krispay is very poor value.
it's much better to try accrue more miles n redeem for a business class ticket.
if it's expiring and u not expecting anymore big ticket spending to earn miles then redeem for bali or any regional econ tickets
If you do not have much mileages in your account:-
(1) Try to accummulate for Business, First Class or Suites if possible to make the miles worth more.
(2) Try to aim for Spontaneous Escapades from SQ to get good deals with your miles.
(3) If not, spending it on KrisPay would be the last options. Better than letting it to waste.
Wait till when you are close to the expiry date, and use it to offset or get any business class tix. you can change the date of your tix later.
Just did an analysis on my instagram. This is my finding.
If you are using a cash back card with 1.5% rebate unlimited. Even if you rack up $150,000 worth of spending over 5 years, you will have $2,250 in terms of rebate.
If you are using a mile card (assuming $1 spending to 1.4 miles) you will be able to get about 210,000 miles.
Going to a trip in Europe (London) through Business Class (saver) will require 180,000 miles.
Going to a trip in Europe (London) through Business Class (saver) will set you aside $7,206 for the tickets if you want to purchase using cash.
Using a cash back card will save you $2,250. Using the miles card will help you to get $7,206 worth of value (Biz class tickets)
My advice is to go long term with this. Continue to spend and accumulate miles. Go into the mile game and you will get more value for money.
Aaron wrote a great article with a detailed calculation of using your miles on Krispay vs on flights.
An alternative to Krispay is to use the pay with miles function on the SQ website which gives you better value than what you would get on Krispay.
Hi, I wouldn't recommend you to redeem Krispay. I regretted doing it. Firstly, the redemption rate is very bad and merchants that accept krispay is very limited too. What I can suggest is, keep the miles and redeem a business class ticket for future flights. If your miles is expiring, please redeem any business class tickets on a future date. You can change the date at a cost of usd$25 within 1 year. For example, if you redeem your ticket on 3 feb 2020, you can change your date of travel up to 2 feb 2021. I'm sure you can find time to travel within a year.