Where can I transfer my credit card rewards ?
In Malaysia, the most popular airline program is Enrich Miles. This is primarily because Malaysia Airlines is the only full-service airline based in the country, making Enrich Miles a convenient choice for most Malaysians.
However, for those willing to transit through Singapore or Hong Kong, you can access the superior products and services offered by Singapore Airlines and Cathay Pacific. By transferring hard-earned credit card rewards to KrisFlyer Miles or Asia Miles, Malaysians can enjoy a more premium travel experience.
Here’s a summary of the airline transfer partners available through various banks in Malaysia:
Redemption ratios within and across banks are not the same
In the Malaysian market, each bank has its own unique transfer ratios and bonus systems, which are often not in simple, round numbers, making the miles game complex and elusive for many. This can make navigating the landscape of miles and points challenging.
Let’s take a look at example transfer ratios for CIMB and UOB:
- For CIMB, it costs more CIMB Bonus Points (BP) to acquire Cathay Pacific Asia Miles (15,000BP) compared to Malaysia Airlines (12,500BP).
- For UOB, the transfer ratios are the same across all airlines.
- Both CIMB Elite Miles and UOB PRVI Elite give 10X rewards for foreign currency transaction. It looks the same on the surface, but clearly the value of rewards are not equal for CIMB Bonus Points and UOB UNIRM.
To simplify the complexity, a more effective metric is Miles Per Ringgit (MPR). At BolehMiles, we use this objective metric in all our posts to make life easier for everyone. Ultimately, our goal is to achieve the best MPR possible for the airline program we prefer.
| FX Spend |  |  |
 | 0.83 MPR | 0.83 MPR |
 | 0.8MPR | 0.67MPR |
The value of airline miles varies across different programs
At BolehMiles, we evaluate miles based on their value in Ringgit Cents Per Mile (CPM). The value of miles can vary significantly due to several factors, including the number of miles required for specific destinations, the quality of the product or service offered, and other considerations.
Refer to this post on the valuation of Enrich Miles to guide you in determining your own valuation.
We value of Krisflyer Miles much higher than Enrich Miles, simply due the reliable and better redemption rates, as well as its superior product quality.
| BolehMiles Valuation | |
| 4 to 6 CPM |
 | 5 to 10 CPM |
| 5 to 9 CPM |
So, what’s the strategy then?
BolehMiles adopts the following strategy:
- For Domestic and short-distance regional travel: Use Enrich Miles
- For International long-distance travel: Use KrisFlyer, Asia Miles or other programs
Enrich Miles for domestic & regional travel
We like to use Enrich Miles to fly domestic or within the region mainly for the convenience.
It is a short holiday, so we do not want to spend time transiting. Besides, the miles requirement is still somewhat reasonable despite the recent devaluation of Enrich Miles.
Below is the redemption chart for Enrich which you can also find from the official website. Do note that Enrich adopts dynamic redemption system, and the miles requirement will be more during period of high demand.
Krisflyer, Asia Miles, and others for long distance travel
We like to use Krisflyer, Asia Miles, and other airline miles when traveling long distances, for example to USA and Europe . This will involve transiting, such as through Singapore and Hong Kong.
It’s a long getaway, so we won’t mind spending some extra time transiting while enjoying the nice lounges and premium airline product.
The redemption chart of Krisflyer Miles can be found here.
Now, transiting through Singapore or Hong Kong may not always be practical, depending on your circumstances, as it can eat into your precious holiday time and increase accommodation costs. For example, we don’t mind making an exception for London (LHR), which costs 100,000 Enrich Miles for Business Class on Malaysian Airlines compared to 103,500 Krisflyer Miles.
Therefore, always compare the miles requirement and seat availability for the redemption you have in mind.
What about other alternative airline miles?
Other airline miles can be much more valuable than the Enrich, KrisFlyer, and Asia Miles.
Sadly, in Malaysia, only CIMB Bank offers viable redemption options for these alternative miles, as shown below. This makes CIMB Bonus Points more valuable compared to other bank reward points.
Therefore, it is wiser to use CIMB Bonus Points to transfer to these alternative airline miles, such as Avios (British Airways) or Flying Blue (Air France-KLM), rather than sticking with KrisFlyer and Asia Miles.
What About HSBC Points?
It is true that HSBC TravelOne card offers the widest range of airline redemption partners in Malaysia.
But the redemption rate is poor, and we would not recommend using this card as a means to access the alternative miles.
Note that only HSBC TravelOne card gets access to these alternative miles at the moment, and other HSBC cards such as HSBC Premier and HSBC Visa Signature can only access the usual Enrich, Krisflyer and Asia Miles.
HSBC Points Redemption Rates
| Airline | Program Name | Redemption Rate | FX Spend MPR | Dining MPR |
|---|---|---|---|---|
| Malaysia Airlines | Enrich | 21 HSBC points to 1 air mile | 0.38 MPR | 0.24 MPR |
| Singapore Airlines | Krisflyer | 25 HSBC points to 1 air mile | 0.32 MPR | 0.20 MPR |
| Cathay Pacific | Asia Miles | 25 HSBC points to 1 air mile | 0.32 MPR | 0.20 MPR |
| Air France / KLM | Flying Blue | 35 HSBC points to 1 air mile | 0.23 MPR | 0.14 MPR |
| British Airways | Executive Club – Avios | 30 HSBC points to 1 air mile | 0.27 MPR | 0.17 MPR |
| Etihad Airways | Etihad Guest | 35 HSBC points to 1 air mile | 0.23 MPR | 0.14 MPR |
| EVA Air | Infinity MileageLands | 40 HSBC points to 1 air mile | 0.20 MPR | 0.13 MPR |
| Hainan Airlines | Fortune Wings Club | 45 HSBC points to 1 air mile | 0.18 MPR | 0.11 MPR |
| Japan Airlines | JAL Mileage Bank | 60 HSBC points to 1 air mile | 0.13 MPR | 0.08 MPR |
| Qantas | Qantas Frequent Flyer | 35 HSBC points to 1 air mile | 0.23 MPR | 0.14 MPR |
| Qatar Airways | Privilege Club | 45 HSBC points to 1 air mile | 0.18 MPR | 0.11 MPR |
| Thai Airways | Royal Orchid Plus | 45 HSBC points to 1 air mile | 0.18 MPR | 0.11 MPR |
| Turkish Airlines | Miles&Smiles | 45 HSBC points to 1 air mile | 0.18 MPR | 0.11 MPR |
| United Airlines | Mileage Plus | 50 HSBC points to 1 air mile | 0.16 MPR | 0.10 MPR |
| Vietnam Airlines | Lotusmiles | 35 HSBC points to 1 air mile | 0.23 MPR | 0.14 MPR |
| Air Canada | Aeroplan | 55 HSBC points to 1 air mile | 0.15 MPR | 0.09 MPR |
Enrich Miles isn’t always the best way to fly Malaysia Airlines
What if we told you that you can fly with Malaysia Airlines without using Enrich Miles?
One of the great advantages of the miles game is the ability to use miles from one airline program to book flights on another airline within the same alliance.
For example, both Cathay Pacific and Malaysia Airlines are part of the Oneworld Alliance, so you can use Asia Miles to book flights on Malaysia Airlines.
In this sample itinerary, one-way business KUL-TPE on Malaysia Airlines on 24 Sep 2024 costs 33,000 Asia Miles compared to 37,500 Enrich Miles. It’s the same flight and same seat on Malaysian Airlines, only the miles requirement is different.
Now, you should also evaluate the surcharges imposed when redeeming the seats, as Asia Miles is known for its expensive fuel surcharges that can change over time. In this example, the surcharges works out to be almost the same for both Asia Miles and Enrich Miles.
Conclusion
In conclusion, the bonus points from banks offering a wider variety of airline transfer partners are more valuable than those from banks with fewer options.
For instance, CIMB Points are more valuable than UOB Points, which in turn are more valuable than Alliance Bank Points, based on the range of transfer partners available.
Ultimately, the best choice depends on your travel preferences—whether you prefer the convenience of sticking with Malaysia Airlines or wish to explore the luxury of traveling with other airlines