American Express Membership Rewards is running a 20% transfer bonus into Singapore Airlines. I had to log in to see it, so it may be targeted, but it does seem to be fairly broadly targeted.
Last month Singapore offered up to a 15% bonus on transfers from several partners. However transfer bonuses into Singapore Airlines have been exceptionally rare.
There are two reasons to do this:
- Through February 2022 there’s a promotion where transferring points into 250,000 KrisFlyer miles will earn Star Alliance Gold status.
- Singapore Airlines generally restricts long haul business and first class award space on their own flights to their own members. You can’t book long haul premium cabin travel on Singapore Airlines using United miles in nearly all cases.
There are also reasons not to do this.
- Transfers that are speculative – you don’t know how you’ll use the points or when – mean giving up the flexibility of being able to move the points somewhere else. There’s huge option value in transferable points you give up when you transfer.
- Singapore miles expire 3 years after being earned. It’s not 3 years of inactivity in an account – each mile has three years to be used.
- We’re in uncertain times and while it’s possible for some Americans to travel to Singapore now, it depends on where you were vaccinated whether you can produce the required proof. Much of Asia is not yet open to Americans, though some places like Thailand are with hoops to jump through.
Oddly there’s no published end date for the offer. Bear in mind that transfers generally take 12 hours to 3 days.