UPDATED: 2/3/2025
Thanks to several emails received from Refined Points readers, it appears that AmBank has backtracked on this announcement, and has taken a rather peculiar move.
KrisFlyer and Asia Miles conversions are now reinstated across all non-SIGNATURE Priority Banking AmBank credit cards, but the conversion rates are absolutely abysmal.
Seriously, I'm trying to figure out what's the point of even allowing conversions to KrisFlyer or Asia Miles if the conversion rates were borderline ridiculous. Is the bank hoping that long-time cardholders would eventually convert hundreds of thousands of points to these programs?
I certainly hope not. If you know someone holding a non-SIGNATURE Priority Banking AmBank credit card with such intentions, don't forget to send them my way!
Refined Points will maintain the original text below.
Original Article:
AmBank has announced a significant revision to its AmBonus points redemption catalogue, set to take effect on 1 April 2025.
Under the new policy, all non-SIGNATURE Priority Banking credit cards will no longer have access to KrisFlyer and Asia Miles redemptions.
This change directly impacts the AmBank Visa Infinite (the only non-AUM AmBank credit card covered on Refined Points), which will now be limited to accumulating Enrich Miles instead of the more coveted travel rewards.
Policy Overhaul and Key Details
The update is part of AmBank’s broader strategy to streamline its credit card offerings.
Notably, the AmBank Visa Infinite (not to be confused with the AmBank Enrich Visa Infinite)—the only non-AUM credit card highlighted on Refined Points—will see its rewards capabilities restricted exclusively to Enrich Miles.
Additionally, several mass market credit cards, such as the AmBank World Mastercard, will experience a devaluation in their Enrich MPR rates.
These mass-market credit card's MPR rates have always had substantially poor MPR rates, so I've never bothered to cover them on Refined Points or in my Enrich Ultimate Guide.
Market Implications and Cardholder Impact
For cardholders, this change signals a clear shift towards a more focused rewards system.
Effectively, this renders the AmBank Visa Infinite obsolete, as you'd much rather just obtain the AmBank Enrich Visa Infinite or Visa Platinum if you were into Enrich miles.
Meanwhile, AmBank is banking on its latest 50% off Shangri-La discount and the complimentary Club Marriott membership (subject to conditions) to justify retaining the AmBank Visa Infinite, although this isn't the only credit card in AmBank's lineup with these benefits.
Final Thoughts
From a business perspective, it makes sense that AmBank is pursuing these changes. Its credit card lineup is severely crowded, and this realignment of focus is a positive step towards the bank’s product rationalization strategies.
The AmBank Enrich Visa credit cards, paired with the Alliance Bank Visa credit cards, continue to be the best option in the market for those looking to accumulate Enrich miles.
