The
IHG One Rewards Premier Credit Card is a good hotel credit card for a big initial bonus. New cardholders get a staggering
140,000 points (worth around
$952 in IHG reservations) in return for charging at least
$3,000 to the card within
3 months of opening an account. The value of the bonus covers the cost of the card’s annual fee for years.
The IHG Premier Card’s ongoing rewards rate for reservations at IHG properties is pretty eye-catching, too: 10 points per $1 spent. That applies to the many brands in the IHG family, including everywhere from Crowne Plaza to Holiday Inn. The offer is not perfect, however. For example, you need to pay the bill in full monthly to avoid expensive interest charges. But it’s definitely worth a close look if you regularly stay at IHG hotels and resorts.
Below, I’ll highlight the most important aspects of the offer to help you decide whether or not it’s worth applying for the IHG Premier Credit Card.
What I Like About the IHG Premier Card
Initial Bonus: 140,000 points
New cardholders can earn the bonus by charging
$3,000 to the card within
3 months of opening an account. The bonus is worth around
$952 in hotel stays, based on WalletHub’s calculations. Few credit card rewards bonuses offer so many points or miles – the average is
34,060.
IHG Rewards Rate: 10 points per $1 spent on IHG hotel reservations
This eye-catching earning rate equals 6.8% back, when redeemed for IHG reservations according to our research. It applies to purchases made directly through IHG properties. It does not apply to purchases made through third-party travel booking sites such as Kayak or Expedia, for example.
When combined with the 10 points per $1 that you get simply for being an IHG One Rewards member and the extra 6 points per $1 for having Platinum Elite status, you get to the 26 points per $1 rate at IHG Hotels & Resorts that IHG likes to advertise in relation to this card.
Regular Rewards Rates: 3-5 points per $1 spent
Purchases made at restaurants and gas stations get the 5 point per $1 earning rate, as do travel purchases. All other purchases get you 3 points per $1 spent. These are very good reward rates relative to most cards, but they might not be quite as good as you’d assume, given the low value of IHG points.
Elite Status Benefit: Platinum Elite automatically
Platinum Elite status in the IHG One Rewards loyalty program helps you earn free nights sooner. You can also enjoy benefits such as complimentary upgrades and guaranteed room availability.
Free Night Benefits: 1 free night after each account anniversary; 1 free night when redeeming points for a consecutive four-night stay
Getting a free night after celebrating each account anniversary and paying the annual fee for the coming year helps soften the blow of that yearly membership charge. In fact, a free night at an IHG property is likely to be worth more. Getting a free night on extended stays booked with points is nice, too. Just be careful not to go too long without redeeming if you’re saving up for such a stay.
Other Benefits: Credit of up to $120 every four years to cover the application fee for Global Entry or TSA PreCheck; $0 foreign transaction fee
These types of perks are becoming increasingly popular among travel rewards credit cards. So they’re more expected than exceptions that set the IHG Rewards Premier Card apart. They’re still nice to have, though.
What I Don’t Like About the IHG Premier Card
Annual Fee: $99
The IHG One Rewards Premier Card it's a bargain compared to some luxury travel credit cards. However, it is still about 4 times more expensive than the average credit card, which charges an annual fee of
$25.22.
Points Can Expire: After 12 straight months with no account activity
Points from nearly any major hotel chain can expire due to account inactivity. That means not earning or redeeming any points.
High APR: 19.99% to 28.49% (V), based on creditworthiness; no low introductory rate
You definitely don’t want to carry a balance from month to month with the IHG One Rewards Premier Card. The interest charges would quickly cut into your rewards earnings.
Good Credit Needed: 700+ credit score should give you good odds
The IHG One Rewards Premier Card requires at least good credit for approval. You can
check your latest credit score for free here on WalletHub to get a sense of your chances. You can also compare the
best hotel credit cards to make sure you apply for the right card for your budget and itinerary.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
