St George Rewards Signature KrisFlyer Devaluation

[billmurray]

Just received a letter from St George confirming from 31st July 2023, the transfer rate to KRIS will change from 2:1 to 3:1. Major Devaluation?

Anyone using this card going to cash out before this date? Any other card recommended?

 

[CaptainCurtis]

Does it affect Velocity TFs too? Any chance you can scan letter (removing your personal details) and post?

Here you go

 

[kpc]

See this post:

ATO (tax office) payments by credit card

Just received a letter from the Dragon saying redemption rates from Amplify to KrisFlyer are dropping from 2:1 to 3:1 - had this been announced previously? Seriously reduces the value prop of this card now. I wonder if this will apply to Bank of Melbourne too?

www.australianfrequentflyer.com.au

 

[lovestotravel]

Sitting on about 400.000 points, time to convert and then reduce spend on the card

Pathetic

 

[MollyJones]

Both my jones and myself have amplify signature cards with BoM and neither of us has had any communication about this devaluation.
Was this an email, snail mail, in the app or something else?
We only convert to KrisFlyer and 2:1 was great.
Oh well, we are about due for a churn so this is the prompt we need.

 

[Jacques Vert]

So that means that the effective rate drops from 0.75miles/$ to 0.5miles/$.

 

[kpc]

So that means that the effective rate drops from 0.75miles/$ to 0.5miles/$.

Actually 0.825 to 0.55 miles per $ spent (with 10% birthday bonus)
A 33% devaluation!! I will be dumping my entire balance of StG A pts to KF b4 31st July even though it starts the 3 yr KF expiry clock!

 

[meeeeeeee]

Abysmal devaluation

There seems to be no longer a reason to warehouse points in Dragon?

Transferring to velocity on a 15% bonus transfer day then subsequently to krisflyer nets a rate of 0.5 * 1.15 / 1.55 = 0.371 KF per Amplify point versus 0.333 direct after devaluation

 

[georgie23]

Westpac Velocity card would be better value at 0.75 point per dollar for velocity then / 1.55 = 0.484 KF points per $1

 

[cove]

Thanks to kpc I now see I will have to move many St George points out of our warehouse. That 5 am text didn’t wake us up as we were reading our 3 newspapers we get delivered. Today we have most of the day off with a long lunch with friends. End of the tax year is looming.

 

[Jacques Vert]

Actually 0.825 to 0.55 miles per $ spent (with 10% birthday bonus)
A 33% devaluation!! I will be dumping my entire balance of StG A pts to KF b4 31st July even though it starts the 3 yr KF expiry clock!

Yes, I am aware of the birthday bonus but for those who churn before their birthday it doesn't count.

Furthermore, the devaluation comes before my birthday so it's effectively 0.75 for me if I transfer before 31 July or (as you say) 0.55 if I wait until after my birthday.

The other advantage with this card was the travel insurance which covers trips up to 6 months duration. Although with pre-existing medical conditions for which you have to pass an assessment and pay a fee if accepted, the insurance may not be as good as it appears at first.

If only SQ would get rid of their rediculous expiry policy...

 

[Freq Flier 2013]

Thanks to kpc I now see I will have to move many St George points out of our warehouse. That 5 am text didn’t wake us up as we were reading our 3 newspapers we get delivered. Today we have most of the day off with a long lunch with friends. End of the tax year is looming.

I’m in the same boat.
I have points across 3 at George cards (3 people) can I transfer them to 1 kris flier account? So all are consolidated.

 

[Cruiser Elite]

Was the St G news delivered via mail? Email? SMS? I have received nothing

 

[jakeseven7]

Here you goView attachment 334911

Nothing from Bank of Melbourne so far.....

 

[jakeseven7]

Both my jones and myself have amplify signature cards with BoM and neither of us has had any communication about this devaluation.
Was this an email, snail mail, in the app or something else?
We only convert to KrisFlyer and 2:1 was great.
Oh well, we are about due for a churn so this is the prompt we need.

Nothing from BOM here either yet....

But like night follows day....

 

[billmurray]

Was this an email, snail mail, in the app or something else?

Letter in mail.

Yes, I am aware of the birthday bonus but for those who churn before their birthday it doesn't count.

Furthermore, the devaluation comes before my birthday so it's effectively 0.75 for me if I transfer before 31 July or (as you say) 0.55 if I wait until after my birthday.

The other advantage with this card was the travel insurance which covers trips up to 6 months duration. Although with pre-existing medical conditions for which you have to pass an assessment and pay a fee if accepted, the insurance may not be as good as it appears at first.

If only SQ would get rid of their rediculous expiry policy...

Yes i too am big time boned with this (i had a high earn/send this year) - as my bday bonus is in Oct.

 

[ansett7e7]

My understanding is if you keep the cards open on your birthday, you get the 10% bonus on all spend over the preceding 12 months (ex bonus points)

Post automatically merged: Jun 29, 2023

Does anyone have a recommendation on which card to churn to? Is the HSBC *A card the go?

 

[LadyC]

Was the St G news delivered via mail? Email? SMS? I have received nothing

Believe it was by mail, so could still be on its way

 

[meeeeeeee]

Westpac Velocity card would be better value at 0.75 point per dollar for velocity then / 1.55 = 0.484 KF points per $1

Although, St george is 1.5 amplify per dollar, +10% birthday am I correct?

Final conversion assuming 15% velocity transfer bonus is 1.5 * 1.1 * 0.5 * 1.15 / 1.55 = 0.612 KF/$

This requires waiting around for both bonuses.

0.556 KF/$ if you don't stick around for the birthday bonuses.


Agreed I'm not sure if I want to start the 3 year clock ticking given it is extremely hard to match award availability and my own availability.

 

[Mattg]

The annual fee on the Amplify Signature card is also going up from $279 to $295 from 20 July 2023.

Rewards cards changes

www.stgeorge.com.au