As of September 1, 2024, CIMB has officially launched its conversion option from CIMB Bonus Points to KrisFlyer miles.
You'll now be able to redeem your CIMB Bonus Points for KrisFlyer miles via the link here.
While the full announcement from CIMB has not yet been released—likely due to today being a Sunday—we can expect more details tomorrow. In the meantime, let's examine how CIMB's new conversion rates stack up.
CIMB and KrisFlyer
CIMB now boasts one of the most extensive airline conversion programs in Malaysia, partnering with 12 airlines including Singapore Airlines' KrisFlyer.
While some options, like Enrich miles, may not be particularly attractive, others are industry-leading, such as the conversion options to Avios, which have been the cornerstone of my recommendations for CIMB credit cards over the past few months.
With the addition of Singapore Airlines KrisFlyer to the lineup, CIMB enhances its credit card offerings by filling a significant gap that existed until now. Previously, CIMB was the only major bank in Malaysia not to offer KrisFlyer conversions, unlike Maybank and UOB, which have long provided this option.
For many frequent flyers, this was a significant disadvantage, especially considering Singapore Airlines' strategic importance due to its proximity to Malaysia, assuming Malaysia Airlines is not considered a viable option. So, how does CIMB's new conversion rate measure up against its competitors?
CIMB offers a conversion rate of 75,000 Bonus Points for 5,000 KrisFlyer miles. It's important to note that the minimum threshold starts at 75,000 Bonus Points, following a recent fivefold increase by CIMB. The table below provides the precise Miles per Ringgit (MPR) rates for each CIMB credit card.
For local spending, the CIMB Preferred Visa Infinite and CIMB Visa Infinite credit cards offer the highest earn rates, particularly on dining expenses due to special Bonus Points allocations. Factoring in CIMB's tiered bonus points structure, the MPR can reach as high as 0.76 MPR for the CIMB Preferred Visa Infinite and 0.37 MPR for the CIMB Visa Infinite.
However, these rates are not particularly competitive. The CIMB Travel credit cards, in particular, offer subpar local earn rates, so they are not worth mentioning in this context.
For overseas spending, the CIMB Travel World Elite stands out with an MPR of 0.66, followed by the CIMB Travel World Mastercard and CIMB Preferred Visa Infinite at 0.53 MPR.
Comparatively, CIMB's KrisFlyer MPR rates are not particularly competitive, especially when compared to UOB's offerings, such as the UOB PRVI Miles Elite and the newly revamped UOB Visa Infinite, which deliver significantly better rates.
Therefore, while CIMB's addition of KrisFlyer miles is a welcome update, it does not represent a game-changer for those who are serious about earning KrisFlyer miles. In fact, those individuals may find better value with UOB credit cards.
It seems that CIMB's inclusion of KrisFlyer is more of a move to complete its portfolio and prevent customers from switching to competitors that already offer this conversion option.
From a broader perspective, redeeming KrisFlyer miles has become increasingly challenging due to limited availability of Saver Awards on Singapore Airlines.
This is understandable, given the global demand among frequent flyers for Singapore Airlines flights, especially those who are part of other Star Alliance programs like Thai Airways Royal Orchid Plus, ANA Mileage Club, EVA Air Infinity MileageLands, and Air Canada's Aeroplan. Essentially, Malaysian customers are competing against some of the world's largest frequent flyer programs for coveted Singapore Airlines seats.
As a result, a practical strategy for using KrisFlyer miles might be to consider redemptions on other top-tier carriers with excellent service offerings, such as ANA or EVA Air. Availability on these carriers tends to be better, based on my observations and research, providing a viable alternative for redeeming KrisFlyer miles.
Final Thoughts
While CIMB's new KrisFlyer miles conversion option is a positive addition, it does not drastically change the competitive landscape for frequent flyers in Malaysia. I continue to maintain my viewpoint the CIMB's ecosystem of credit cards are only good for Avios conversions, and nothing more.
The conversion rates offered by CIMB are somewhat lackluster compared to those from other banks, such as UOB, which continues to provide more favorable rates for KrisFlyer miles enthusiasts. For CIMB cardholders, the addition of KrisFlyer is more about filling a gap in their existing suite of conversion options rather than offering a compelling value proposition.
Moreover, with the increasing difficulty in redeeming KrisFlyer miles for Singapore Airlines flights, savvy travelers may find better value by considering alternative Star Alliance partners like ANA or EVA Air. These carriers offer excellent products and tend to have better award availability, providing a strategic use case for KrisFlyer miles outside of Singapore Airlines itself.
Ultimately, while CIMB's addition of KrisFlyer conversions is a step forward, those looking for the most efficient way to accumulate KrisFlyer miles may want to explore other credit card options that offer more competitive earning rates and greater flexibility in miles redemption.
At the time of writing, I have updated my KrisFlyer Ultimate Guide and Ultimate Category-Specific Guide to reflect the addition of CIMB's credit cards into the lists.
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