Redemption rate for Signature?

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zzyss

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Just out of curiosity, I thought the redemption rate for Citibank Signature was 1:1 Citi to Velocity/Krisflyer. But when I went to check this recently the site says the following:

Velocity Frequent Flyer
Citibank Rewards cardholders can manually transfer their points to Velocity, the frequent flyer program of Virgin Australia.

As of 1 September 2013, redemption of reward points on Velocity and KrisFlyer Frequent Flyer programs will only be available to cardholders who hold the following cards: Citibank Rewards Credit Card - Platinum or Signature or the Citibank Select Credit Card and who are enrolled in the Citibank Rewards Program.
Citibank Rewards Credit Card - Select Signature and Citibusiness cardholders:
1.5 Citibank reward points = 1 Velocity point, redemptions must be in multiples of 15,000 Citibank reward points
Citibank Rewards Credit Card - Platinum Credit cardholders:
2 Citibank reward points = 1 Velocity point, redemptions must be in multiples of 20,000 Citibank reward points



Singapore Airlines KrisFlyer program
Citibank Rewards cardholders can manually transfer their points to Singapore Airlines KrisFlyer program.
As of 1 September 2013, redemption of reward points on Velocity and KrisFlyer Frequent Flyer programs will only be available to cardholders who hold the following cards: Citibank Rewards Credit Card - Platinum or Signature or the Citibank Select Credit Card and who are enrolled in the Citibank Rewards Program.
Citibank Rewards Credit Card - Select Signature and Citibusiness cardholders:
1.5 Citibank reward points = 1 KrisFlyer mile, redemptions must be in multiples of 15,000 Citibank reward points
Citibank Rewards Credit Card - Platinum Credit cardholders:
2 Citibank reward points = 1 KrisFlyer mile, redemptions must be in multiples of 20,000 Citibank reward points

When did this happen (I know, I know, September 2013 LOL). All the folks going on about the fee-free for life Signature card since end of last year were going on about 1:1 points transfers...
 

zzyss

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Ah, nevermind. (Tried deleting the post but couldn't find how to).
 

jlien

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Unsure if you're still looking for an answer however references to 1:1 means $1 : 1 KF/Velocity point.

$1 = 1.5 Citi points
1.5 Citi points = 1 KF/Vel point.
 
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