I have accumulated nearly 1M velocity points in about a decade and now looking at redeeming this for long haul biz class flights - i think the general consensus is to transfer these to krisflyer and book via SG airlines.
Has anyone done this? Any pitfalls? I would preferably transfers all my points in one go so hopefully there is no need to go back into velocity again
Given that AIUI, transfers are instant, I'd keep the points in Velocity and transfer them over only if an award is bookable only through SQ but not VA (e.g. some SQ business class awards and Star Alliance awards on airlines other than NH, UA or AC).
This reflects that you lose points in the conversion (either way) at 1.55:1 and as Colin2905 noted, SQ points expire after 3 years.
If looking for award seats, 'Saver' awards on SQ are generally bookable through VA and you don't lose points in the conversion, so first search for the award on SQ and only transfer the points if you can't find them on VA.
I have recently done this myself when booking a SQ Business flight that didn't appear on VA - transfer was instant; as mentioned consider the transfer rate but given your balance that shouldn't be an issue
also does anyone know about kris flyer RTW for 280k miles? This seems to be cheaper than AU east coast to NYC return.
Also, just a thought. Kris allow you to book 12 months out where as SQ flights through Velocity are only available from 11 months. Not too much of an issue but if you are looking at booking a high traffic route in a premium cabin or Suite & are committed to travelling on set dates then booking via Kris may be better, rather then waiting on Velocity only to find your flight has gone waitlisted.
I assume that you're aware of the transfer rate and the 3-year expiry.