The American Express and Singapore Airlines KrisFlyer suite of co-branded credit cards launched back in 2016 but it was fairly unimpressive to earn its spot in my wallet (click HERE to check out which credit cards I physically hold in my wallet). While I was booking a flight this morning, I realised that there is currently a tender exercise for Singapore Airlines KrisFlyer Co-brand & Corporate Co-brand Credit Cards. The closing date for this tender is 22 June 2018 and according to the request for proposal, 'the targeted launch date of the new products is in early 2019'.
According to this request for proposal, KrisFlyer is interested to launch another co-brand credit card product in Singapore for consumers as well as one for businesses (in the form of a corporate credit card will allow cardholders to earn HighFlyer points). Apart from supporting KrisFlyer membership growth plans in Singapore, the new co-brand credit card hopes to give consumers more opportunities to earn KrisFlyer miles and interact with the programme.
The credit card(s) will target the mass market segment which will include the mass affluent as well as emerging affluent market in Singapore. On the request for proposal, the key target segment has identified to include 'graduating tertiary students who will soon join the workforce, millennials who are in the early years of their career and young PMEBs with growing wealth and disposable income'.
There seems to be no limitation on the payment platform since Banks are required to submit an offer for each major card network (e.g. American Express, Mastercard and Visa) but since we already have plenty of American Express co-brand credit cards here in Singapore, it seems likely that the next product will be on either a Mastercard or Visa network.
The proposal has made it clear that the following benefits should not be provided as benefits of the card as it would be strictly tied to the member’s KrisFlyer or PPS Club membership
tier but I am personally very interested to see whether the new card will take mileage accrual rates beyond 4 miles per dollar (or even a beyond 1.6 miles per dollar for normal non-bonus spend):
- Priority airport stand-by, check-in, boarding and baggage handling
- Increased check-in baggage allowance
- Priority reservation waitlist
- Access to SilverKris and Star Alliance lounges
The winning bid would be awarded on 20 August 2018 and the product is expected to launch in Q1 2019.