CFA Society Singapore
SINGAPORE (Apr 23): United Overseas Bank (UOB) and KrisFlyer have launched the KrisFlyer UOB Credit Card.
This is a credit card which can be combined with a savings account to earn bonus KrisFlyer miles when customers spend and save.
With the KrisFlyer UOB Credit Card, cardmembers will earn three KrisFlyer miles on their everyday spending, such as on dining and online food delivery, online shopping and public transport.
KrisFlyer is Singapore Airlines Group’s frequent flyer programme.
According to UOB and KrisFlyer, these everyday spend categories were chosen as they were the fastest growing spend categories for UOB cardmembers last year.
In addition, KrisFlyer UOB Credit Cardmembers will earn three KrisFlyer miles for every dollar spent on the SIA Group of carriers, as well as for KrisShop purchases.
To make it even easier and faster for travellers to accumulate KrisFlyer miles, customers can pair their KrisFlyer UOB Credit Card with the KrisFlyer UOB Savings Account. Customers will enjoy a new base earn rate of five KrisFlyer miles for every dollar saved with a minimum monthly average balance of $1,000, up to their spending cap. If they credit their monthly salary to the account, the earn rate increases to six KrisFlyer miles per dollar spent, up to their spending cap.
As an example, young professionals with $15,000 of savings simply need to credit their monthly salary in the KrisFlyer UOB Savings Account and spend $1,200 a month on their KrisFlyer UOB Credit Card to earn as much as 60,000 miles within 16 months.
They can then redeem these KrisFlyer miles for round-trip flights on Singapore Airlines or SilkAir to destinations such as Hong Kong, Taiwan, and cities in South China. They can also use these KrisFlyer miles to make purchases from KrisShop.
In addition to an accelerated KrisFlyer miles earn rate, customers will also be able to enjoy an exclusive suite of privileges and benefits when flying on Singapore Airlines, SilkAir and Scoot. These include a fast track to KrisFlyer Elite Silver status with a minimum of $5,000 spend on the SIA Group of airlines, and various Scoot travel benefits, such as priority check-in and boarding, additional baggage allowance, convenience fee waiver, seat selection and booking flexibility waiver.
As part of launch celebrations, customers will be given 12,000 KrisFlyer miles as a welcome bonus or 5,000 KrisFlyer miles with a complimentary return ticket on either Singapore Airlines or SilkAir to Bangkok, Lombok or Penang.
In addition, they can enjoy discounted airfares to seven destinations in the SIA Group’s network, as well as discounted Grab rides to and from the airport.
UOB and KrisFlyer plan to extend their partnership to their customers beyond Singapore, with a regional marketing campaign set to launch in May 2019 in Indonesia, Malaysia and Thailand. The campaign will see an additional four million KrisFlyer miles made available for UOB cardmembers in the region.