Are you ready to unlock free travel miles from your credit card points? But wait, there's a catch! Most banks charge a fee for converting points to miles, but some cards let you bypass this.
When using a credit card that doesn't automatically credit miles to your frequent flyer account, you'll need to convert those hard-earned points. This process often comes with an administrative fee, but there are exceptions! In this article, we'll explore the fees charged by various banks and highlight the cards that offer free conversions.
The Cost of Miles Conversions
Banks typically follow two fee structures:
- Per Conversion: A fee for each points-to-miles conversion.
- Annual Option: A fee for unlimited conversions within a year.
Here's a breakdown of the fees charged by different banks for converting points to airline or hotel loyalty programs:
Points Conversion Fees by Bank
| Issuer | Per Conversion | Annual Option |
| --- | --- | --- |
| Bank 1 | Free | N/A |
| Bank 2 | S$30.56 | N/A |
| Bank 3 | S$27.25 | N/A |
| Bank 4 | S$27.25 | S$43.60 |
| Bank 5 | Free | N/A |
| Bank 6 | S$27.25 | N/A |
| Bank 7 | S$25 | N/A |
| Bank 8 | S$27.25 | N/A |
| Bank 9 | S$25 | S$50 |
Note: Some banks waive fees for specific cardholders, and others offer automatic conversions in blocks, with additional redemptions at no cost.
The average fee per transaction is S$25, excluding GST, which some banks include in the fee and others charge separately. Interestingly, most banks charge the same fee regardless of the number of points transferred, as long as it's a single transaction.
But here's where it gets controversial—Bank of China caps the points you can convert in one go, and exceeding this limit incurs an additional fee. And this is the part most people miss—Maybank recently ended free conversions for specific cards.
Cards with No Conversion Fees
Cobrand Cards
Miles earned on cobrand cards are automatically credited to your frequent flyer account, bypassing conversion fees. However, this also means the miles' expiry countdown starts sooner. Non-cobrand cards offer a double validity period.
Singapore Airlines Cobrand Cards
| Card | Min. Income | Annual Fee |
| --- | --- | --- |
| KrisFlyer UOB Credit Card | S$30K | S$196.20 (First Year Free) |
| AMEX KrisFlyer Credit Card | N/A* | S$179.85 (First Year Free) |
| AMEX KrisFlyer Ascend | N/A* | S$397.85 |
| AMEX PPS Card | N/A* | S$561.35 (First Year Free) |
| AMEX Solitaire PPS Card | N/A* | S$561.35 (First Year Free) |
*American Express cards' income requirements are subject to internal review.
Non-Cobrand Cards
Some non-cobrand cards waive conversion fees, regardless of the bank's general policy.
| Card | Min. Income | Annual Fee |
| --- | --- | --- |
| HSBC Revolution Card | S$30K | Free |
| HSBC TravelOne Card | S$30K | S$196.20 |
| DBS yuu Card | S$30K | S$196.20 (First Year Free) |
| AMEX Platinum Credit Card | N/A* | S$327 |
| AMEX Platinum Reserve | N/A* | S$545 |
| UOB Visa Infinite Metal Card | S$120K | S$654 |
| HSBC Visa Infinite | S$120K | S$662.15 |
| HSBC Premier Mastercard | S$30K (min. S$200K AUM) | S$708.50 (waived if min. AUM is met) |
| AMEX Platinum Charge | N/A* | S$1,744 |
| UOB Privilege Banking Visa Infinite | S$30K (min. S$350K AUM) | S$1,962 (waived if min. AUM is met) |
| DBS Insignia Card | S$500K | S$3,270 |
| UOB Reserve Card | S$500K | S$3,924 |
| Citi ULTIMA Card | S$500K | S$4,237.92 |
*American Express cards' income requirements are subject to internal review.
DBS, HSBC, and UOB Special Cases
DBS Insignia Cardholders enjoy free conversions, and since DBS Points pool, points from other DBS cards can also be converted for free. HSBC cardholders currently benefit from fee-free conversions to HSBC's airline and hotel partners. UOB Privilege Banking Visa Infinite, UOB Reserve, and UOB Visa Infinite Metal Cardholders also enjoy free conversions due to the UNI$ pool.
Are Conversion Fees a Deal-Breaker?
Conversion fees can be frustrating, especially with the Bank of China's unique approach. But should they deter you from your travel goals? Probably not. While it's wise to minimize fees, occasional S$25 charges are more of a minor annoyance than a significant hurdle.
For most people, transferring miles once a year results in minimal fees. Even with a multi-card strategy, the total fees are unlikely to exceed S$100. Remember, when you're flying in comfort, a few extra dollars spent on conversion fees won't dampen your experience.
To reduce fees, consider spreading your spending across cards within banks that pool points, like UOB. This way, you'll pay a single transfer fee for all your pooled points. Citibank, however, doesn't pool points, so using multiple cards will incur separate fees.
Kris+ Offers Fee-Free Conversions (With a Twist)
Kris+ provides instant conversions of Citi, DBS, and UOB credit card points into KrisFlyer miles without conversion fees. However, there's a catch—you may incur a 15% reduction in miles compared to regular bank conversions.
Final Thoughts
Points conversion fees are an ongoing reality in the Singapore credit card market, typically around S$25 per conversion. Some banks offer unlimited conversions for a fixed fee or free conversions with select cards. While these fees are a consideration, they shouldn't overshadow your focus on maximizing earn rates and redeeming miles wisely. After all, these strategies will significantly impact your travel value more than a one-time fee.
So, are you ready to navigate the miles game and fly in style? Let's make it happen!
