Singapore Airlines’ KrisFlyer Now Offers a Credit Card That Rewards You with Milesby Company Announcement May 2, 2019
UOB and KrisFlyer, Singapore Airlines mile reward program, announced the launch of the KrisFlyer UOB Credit Card.
This is the first credit card in Singapore which can be combined with a savings account to earn bonus KrisFlyer miles when customers spend and save. In designing the KrisFlyer UOB Credit Card and upgraded KrisFlyer UOB Savings Account, the two homegrown brands analysed the spending, saving and travelling behaviour of Singapore consumers over the last three years.
They found that travel was the number one spend category for UOB cardmembers, accounting for 15 per cent of total spend from 2016 to 2018. The data also showed that KrisFlyer miles were the most popular card reward among UOB cardmembers, accounting for 70 per cent of all UNI$ redemptions in 2018.
With travel being so important to the lives of many, the KrisFlyer UOB Credit Card and KrisFlyer UOB Savings Account combination reward travellers with more of what they want – the opportunity to earn KrisFlyer miles at a faster rate.
Ms Jacquelyn Tan, Head of Personal Financial Services Singapore, UOB, said,
“We are pleased to deepen our partnership and to launch yet another market first. With the co-branded KrisFlyer UOB Credit Card and Savings Account, we have created a complete banking solution that enables our customers to earn more miles in a shorter period of time. This offers them a great way to bank and to travel.
“Our Singapore cardmembers prefer to fly with the SIA Group, with more than half of total airline spend on UOB cards made on its fleet of carriers. Given that travel is a priority for our customers, we have tailored the solution to their lifestyles so that they can earn KrisFlyer miles faster and more easily on their everyday spend and savings,”
Ms Tan said.
Mr Tan Kai Ping, Senior Vice President Marketing Planning, Singapore Airlines, said,
“We have worked closely with UOB, our long-term partner, for about a year to curate the KrisFlyer UOB Credit Card benefits. The KrisFlyer UOB Credit Card showcases our commitment to constantly enhance the benefits for our members. With this new card, we are adding to the KrisFlyer brand promise of enabling our members to ’earn easier, redeem faster and travel better’.”
Take off with accelerated KrisFlyer miles with everyday spend
With the KrisFlyer UOB Credit Card, cardmembers will earn three KrisFlyer miles on their everyday spends, such as on dining and online food delivery, online shopping and public transport. This everyday spends 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.
Save more, earn more
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 saved, up to their spending cap.
For 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.
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.
Featured image credit: UOB