You will get even more bang for your miles if redeeming for premium cabins.
I just got paid to fly SQ HKG-DPS (via SIN), and TG DPS-HKG (via BKK). All in business class.
Worked like this:
- took advantage of Key's $150 cashback on new checking, applied for CO Debit card (4,000 miles, cost $30)
- got the Chase CO debit card/checking account (25,000 miles, cost $25)
- signed up for emails and other bonuses to the account for the remaining 1,000 (cost: $0)
- redeemed miles (cost in taxes and fees: $37.36, plus 30,000 CO miles)
$150-30-25-37.36= $57.64 left over.
All told, not bad value- coming out with extra cash while flying business class in Asia. And the phone call was easy as pie- in fact, the CO rep was able to find space on a SQ flight the ANA tool didn't show as available,
which cut a connection in SIN down from 5 hours to 2. Night and day difference from dealing with US for my pseudo-RTW award (involving calling back and finding CS reps who can actually do what US is supposed to be able to do on awards).