My aunt had 19,000+ miles that were going to waste by July 31st (this is the thing I hate about Asia Miles – they expire), so we decided to convert those into MoneyBack points that she could use on grocery shopping. With a little help from me, she did so, converting her miles into 47,500 MoneyBack points. The conversion from Asia Miles to MoneyBack points (eligible for use at Park N’Shop, Watsons, taste and other grocery stores) is 1 Asia Mile:2.5 MoneyBack points, so 19,000 miles made 47,500 MoneyBack points.
I made a suggestion that my aunt convert her MoneyBack points back into Asia Miles, which she unhesitatingly agreed to. I converted 40,000 MoneyBack points into 10,000 Asia Miles, then checked how much the remainder (7500 MoneyBack points) translated to using the 4:1 system. It made 1875 Asia Miles. I realized a problem immediately. While you can get 2.5 MoneyBack points with 1 Asia Mile, the other way round the conversion is 4 MoneyBack points:1 Asia Mile.
As I value each mile at 8 Hong Kong cents (US$0.01), I’ve lost HK$552 (37.5% of the miles I had) by renewing the miles. This is a lot less than having to renew 10 blocks of Asia Miles (which would cost us HK$3100), but my lesson isn’t to let Asia Miles expire.
And it makes sense (mathematically – not psychologically), unfortunately: since 1 Asia Mile converted makes 2.5 MoneyBack points, and divided by four turns into 0.625 Asia Mile. So basically you’re only getting ~60% of the value by converting miles.
I’ve learnt a lesson: Avoid renewing Asia Miles – convert to MoneyBack points and get apples and bananas and don’t reconvert them.