IHG One Rewards Premier Credit Card review

Quick highlights

• Rewards rate: Up to 26X points at IHG properties (10 points as a cardholder in addition to 16 points per dollar earned as an IHG One Rewards Club member), 5X points on gas, restaurants and grocery, 3X points on other purchases
• Welcome offer: Earn 140,000 points after spending $3,000 on purchases in the first 3 months from account opening.
• Purchase intro APR:  N/A
• Balance transfer intro APR: N/A
• Regular APR: 21.49 percent - 28.49 percent variable APR

Current sign-up bonus

New IHG Premier cardholders can earn 140,000 points after spending $3,000 in their first three months. This is the card's standard offer, which is lower than the card's previous limited-time offer of 165,000 points with the same spending requirement. Based on Bankrate's latest hotel point valuations, which give IHG points an average value of around 0.7 cents, this new bonus could be worth around $980 in IHG stays. Depending on when and where you book, 140,000 points could also translate to around 14 hotel stays since some IHG properties can be booked at a rate of 10,000 points per night. 

Rewards

Earning rewards

Every purchase with your IHG One Rewards Premier Credit Card earns you points toward your next hotel stay. For every $1 spent with your IHG One Rewards Premier Credit Card, you can earn up to 26 points on stays at IHG properties, 5 points on restaurants, gas or groceries and 3 points on everything else.

The up to 26X rewards rate technically breaks down as 10x points for paying with your IHG One Rewards Premier Credit Card, 10X points for being a member of the free IHG Rewards program, which is automatic upon card approval if you’re not already a member, and 6X points for having Platinum Elite Status, which also comes with the card.

Redeeming rewards

While redeeming points for stays at IHG hotels is by far the best use of your rewards, you have a few other (less valuable) options, including gift cards and merchandise. You can also transfer IHG points (typically at a poor rate) to a number of airline partners, including Delta and United.

Although there are no blackout dates for IHG One Rewards Club members, there may be limited availability for rooms that can be booked with points. A room’s point value depends on the property and type of room, with higher-end hotels requiring more points per night than a basic room at a Holiday Inn.

The Fourth Night Reward bonus allows you to have a complimentary fourth night when you redeem your points for a consecutive four-night stay. That’s like getting a 25 percent bonus when you use your points in this way. You can enjoy this reward an unlimited number of times per year.

The IHG points value can vary due to the dynamic pricing model IHG uses to assign point value. However, based on our latest points valuations, we estimate IHG points are generally worth around 0.7 cents each on average.

Avid travelers and hotel guests will get plenty of mileage out of this card with the numerous benefits it offers. Comparing the IHG Premier to the IHG One Rewards Traveler Credit Card the Premier offers better benefits hands down.

No foreign transaction fees

As one would expect with a travel-centric credit card, there is no foreign transaction fee on purchases made outside of the U.S.

Fourth reward night

You’re entitled to an additional night’s stay, no points needed, when you redeem points for a stay of three or more nights. Enjoy this perk as many times as you want, all year long.

Anniversary Reward

Each year, after your cardholder anniversary, you’ll receive a reward night stay in any of the eligible IHG Hotels and Resorts worldwide.

Platinum status

As long as you remain a Premier card member, you get IHG platinum elite status automatically. This comes with a 50-percent point bonus on stays and perks like complimentary room upgrades, late checkout, guaranteed room availability, free minibar access at Kimpton hotels and a $30 spa credit for each hotel stay.

Annual 10,000 point bonus opportunity

If you spend $20,000 on your card each year, you’ll automatically get a 10,000-point bonus on your card anniversary, as long as you make an additional purchase after the anniversary date.

Global Entry or TSA PreCheck fee credit

Pay your application fee for Global Entry or TSA PreCheck with your card and receive up to $100 in fee reimbursement once every four years.

The IHG One Rewards Premier Credit Card carries a variable APR of 21.49 percent to 28.49 percent. Unfortunately, it lacks a promotional 0 percent introductory APR interest period for new purchases and balance transfers, so it’s not a great choice if you need to pay off debt or finance a large purchase. The annual fee is $99.

Bankrate credit cards writer Ryan Flanigan uses his IHG One Rewards Premier Credit Card benefits for significant savings.

This card has helped me with some great luxury stays over the years. I can offset the annual fee using the United TravelBank credits and there’s additional value when I meet the $20,000 spending to get another $100 back. The fourth night free benefit and annual free night provide excellent savings on my stays. It also runs bonus promotions for extra earnings, which really add a lot of extra points to my balance. While this isn’t an everyday card, it has value for my travel expenses.

—  Ryan Flanigan, Writer, Credit Cards

The IHG card is great for those who are loyal IHG brand enthusiasts, but if you are brand agnostic, there are plenty of other options to consider, both general travel cards and hotel cards from competing brands. Here are a couple to consider:

Best cards to pair with IHG One Rewards Premier Credit Card

This card can’t be beat when it comes to paying for your stays in hotels and resorts within the IHG family, but depending on your spending habits, it may not be the best fit for your everyday expenses. Pairing it with a flat-rate or rotating bonus cash back credit card could help you enjoy the best of both worlds.

For a simple, no-frills cash back card, the Citi Double Cash® Card is hard to beat. You’ll get a flat 1 percent cash back reward on all purchases as you make them, and then another 1 percent cash back when you pay them off, for a total of up to 2 percent back, no matter where, when or what you buy. Another great option is the Chase Freedom Unlimited®. You’ll earn 5 percent cash back on all travel booked through Chase Ultimate Rewards, 3 percent back on dining and drugstore purchases and 1.5 percent back on all other purchases.

This card could be an exceptional choice for fans of IHG and frequent travelers who are willing to make IHG their go-to hotel brand. The card carries a terrific sign-up bonus, solid rewards rate and great perks, many of which, like the Anniversary Reward, can more than offset the annual fee.

The information about the IHG One Rewards Premier Credit Card and IHG One Rewards Club Traveler Credit Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.