One of the unique ways to use your KrisFlyer Miles is to convert them and use them on Virgin Australia Velocity Frequent Flyer Program – but is it worth converting KrisFlyer Miles to Velocity?
Is it Worth Converting KrisFlyer Miles to Velocity?
The tie up between Singapore Airlines KrisFlyer and Virgin Australia’s Velocity Frequent Flyer happened a while ago now – 2014 in fact but at the time it was new and offering a unique proposition of transferring miles between airlines programs.
But is it Worth Converting KrisFlyer Miles to Velocity – The short answer is no, but the long answer is yes in the right circumstances! Lets tackle the short answer first.
The conversion from between KrisFlyer and Velocity isn’t 1 for 1 there is a hidden exchange rate fee of 35% between the two programmes:
- 1.35 KrisFlyer Miles= 1 Velocity Point – or 0.74 points per KrisFlyer Mile
- 1.35 Velocity Points= 1 KrisFlyer Mile
This means that what ever you do you’ll be losing over a third of the value of your miles when you transfer them.
I’m using the redemption value of 2 cents per point (Velocity – HT to Keith from Pointhacks) so your transferred KrisFlyer mile would now be worth 1.48 cents. That represents a significant loss of value for your miles, of ocurse what you manage to redeem your flights will vary.
This is better than some of the other options with KrisFlyer including “Pay with KrisFlyer Miles” or converting to schemes such as TapForMore or using KrisShop as a redemption option. Overall you’d still be better off redeeming those miles straight through Singapore Airlines on SQ flights.
You can find out more about converting here:
Under What Circumstances Would it Be Worth Converting to Velocity Points?
I can see some wisdom in earning KrisFlyer Miles for Australian flyers that fly on Star Alliance flights and using KrisFlyer as a way to convert miles to Velocity Points. I can also see some occasions where you might want to spend those miles on the additional redemption options that Velocity might offer beyond KrisFlyer – like redemptions on Etihad.
There are also others that have mentioned that you could use Velocity to circumvent the expiry of your KrisFlyer Miles – but with a 35% tax on that each way I don’t really see the value.
The final use that might actually be valuable is the family pooling that Velocity offers. Singapore Airlines does have nominees but this still requires one person to have sufficient miles to redeem. If you had a family of 4 with a few miles each I could see that it might be worth combining them all then redeeming on the Velocity programme.
You can find out more about Virgin Australia’s Family Pooling here:
Challenges for Members Based in Singapore
If you’re based in Singapore like me you’ll need to find a clever way of getting yourself an address either in Australia, New Zealand or one of the South Pacific Islands as Velocity restricts its membership to those countries (maybe as part of agreement with Virgin Atlantic and the now defunct Virgin America?).