Citibank rewards redemption

shockrave on 22/07/2015 - 20:54

Hi all,

I've got a fair bit of Citibank rewards points on my credit card. My first inclination is to convert that to the Citibank prepaid card, e.g. 90k points for 500 AUD worth.

However I noticed that you can transfer 1 point for 0.4 Emirates point, or 1 point for 0.67 on Singapore Airlines Krisflyer or Virgin Velocity. Just wondering if that would be a better deal if I am intending to fly. E.g. on http://www.singaporeair.com/en_UK/ppsclub-krisflyer/mileage-… to fly to Singapore return is 50k points for saver award ticket, and I am guessing you get the 15% off points for booking online. Given 50k points is about $277 bucks of prepaid card, this seems like a good deal for a return flight to Singapore before tax. What the unknown is to me is the tax. Anyone has any ideas how much tax would cost on that flight?

Also, out of the 3 frequent flyers, which would be the best one to convert points to?

Thanks all

Financial

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Comments

  • Pigey on 22/07/2015 - 21:02

    You sign up to Krisflyer and calculate it yourself?

    You don't need the points in your account to work out taxes for Krisflyer.

  • shockrave on 22/07/2015 - 21:07

    Oh thanks for that. Didn't realise

  • mick123 on 22/07/2015 - 21:12

    Yea, I'd like to know best way to use the points too.. I got about 500k points and was going to get the prepaid visa cards

  • EnergicAU on 22/07/2015 - 21:27

    Try using the points to book flights.

    Probably works out cheaper and you can pick any airline you want. Compare the number of points needed to book the flight, convert the flight to a $ spend, then compare same flight in Singapore Qantas or virgin using points and how much spend needed to convert to points.

  • shockrave on 22/07/2015 - 21:36

    Krisflyer seems the cheapest on points…but the taxes are quite substantial. Mel - Singapore return taxes are about 450 AUD!

    I can't seem to figure out the taxes in Virgin Velocity so have emailed them, but it seems to be about 100 AUD to many of their top destinations one way, so perhaps about 200 AUD to Singapore.

    Emirates with the lower exchange rate seems to be poorer value

    See comment in the link here on Velocity vs Krisflyer and the taxes http://www.pointhacks.com.au/krisflyer-velocity-conversion-h…

  • Glider on 22/07/2015 - 22:15

    Business class flights are generally a much better value redemption than Economy. From memory it was 60k Krisflyer points for return business flights from Perth to Singapore (or Kuala Lumpur or Bangkok). Not much more than Economy, and AFAIK the taxes are the same.

    If you want to get tricky, you can join up to the australian frequent flyer forums and learn about the best points redemptions strategies. Personally, I collect Citibank points to convert to Krisflyer points, and use them for business class flights to and from Singapore as an Asian jump-off position for discount business fares onward. You can regularly get very good business fares from Asia to Europe and US that you never see ex-Australia.

  • shockrave on 23/07/2015 - 07:23

    Singapore to Melbourne business is 11,000 points before the 15% discount for online (so more than double), and taxes are 500 AUD (on Krisflyer)

  • inherentchoice on 23/07/2015 - 07:43

    You can also use Krisflyer points to book on Scoot. That way there may be no taxes altogether?

    https://www.singaporeair.com/jsp/cms/en_UK/ppsclub_krisflyer…

  • jlien on 23/07/2015 - 15:05

    Don't forget the exchange rate going from citi points to krisflyer miles.

    50k miles = 75k citi points = $416 in prepaid cards, not $277

  • sagax on 26/07/2015 - 08:50

    If you're looking towards the cash cards, depeding on where you do your shopping you can get a slightly better use of your points by buying gift cards. I.e. you can get $500 westfields vouchers for just under 88,000 points, or Coles for 89,400. Yes you lose the flexibility to use anywhere a visa card can be used, but if you always use those stores then it's as good as cash.

  • Peck on 26/07/2015 - 19:40

    Emirates between Sydney and Bangkok can be obtained from approx. 30,000 miles economy plus approx $225 and from 62,000 miles business class plus $310. Citibank rewards never expire, whereas Emirates miles expire in 3 - 4 years max.

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