Credit Card Review: Chase IHG Rewards Premier
Along with Hilton and Marriott, the Intercontinental Hotel Group (IHG) has a massive footprint in the U.S. and in the world. Even though IHG points are not as valuable as Marriott or Hyatt points, its worldwide presence is noteworthy and creates opportunities to stay at various intriguing IHG hotels and resorts. IHG has strong hotel brands as well. For example, InterContinental Hotels and Resorts is a luxurious premium brand available at almost all major tourist destinations, and Six Senses Hotels and Resorts is another posh brand, only in ultra-prime locations like Fiji, Seychelles, or the Maldives. My favorite is Kimpton Hotels and Restaurants—a design-oriented boutique brand with non-traditional amenities. Chase currently offers two personal IHG credit cards and one business version, and the IHG Rewards Premier card is the upscale personal credit card that can jumpstart your lodging experience at IHG hotels. It is loaded with beneficial perks, and it is hard to resist when a historic high sign-up offer is on the table.
The Chase IHG Rewards Premier card could be a long-term keeper card in your wallet.
Sign-Up Bonus & Multipliers
The IHG Rewards Premier card currently offers a sign-up bonus of 140,000 points and one free night certificate worth up to 40,000 points after spending $3,000 in three months. This is a limited-time offer, and with a 0.5 cents per point valuation, the sign-up bonus is worth $900. Please note that you may not be eligible to receive the bonus if you’ve received a sign-up bonus for the IHG Rewards Premier card within the last 24 months.
This is the best sign-up bonus yet—apply while it lasts. Photo by Chase.
The IHG Rewards Premier card earns 26X points at IHG hotels and resorts and 5X points per dollar on travel, hotels, dining, and gas. All other purchases earn 3X points per dollar. Before I get any further, I would like to address the 26X multiplier at IHG hotels and resorts. The high multiplier is possible because you would earn 10X points from IHG for being an IHG Rewards member, 6X points from receiving an automatic IHG Platinum Elite status, and 10X points with the IHG Rewards Premier card. Due to my personal 0.5 cents per point valuation, the 5X multipliers translate to 2.5% in return, which is not strong compared to other credit cards such as the AMEX Gold card or the Citi Premier card. However, I still believe the card deserves a spot in your wallet due to its generous benefits.
Please consider using my referral link if you’d like to apply for the Chase IHG Rewards Premier card. It will continue to help fund my blog operations and help visitors make informed decisions to maximize their rewards. Thank you!
Annual Fee & Benefits
The IHG Rewards Premier card comes with an annual price tag of $99, making the card a Tier 2 card on my credit card totem pole system. Even with the modest annual fee, this is an excellent keeper card because of its perks and benefits.
Complimentary IHG Platinum Elite Status
One of the most notable perks is an automatic IHG Platinum Elite status for cardmembers. IHG Platinum Elite status is the second-highest status, right below IHG Diamond Elite status. Platinum members earn 60% more bonus points on paid stays booked directly with IHG, get discounts on award nights, and receive a welcome amenity at check-in. Platinum Elites may receive complimentary upgrades, early check-in, and late check-out though all are subject to availability. Platinum Elite status comes with property-specific perks; for instance, at Kimpton properties, Platinum Elites would receive a “Raid the Bar” credit—a $10 beverage and food credit—and a $30 in-room spa credit.
Aside from the difference in bonus earning structure, IHG Platinum Elite status is not too far from the top Diamond Elite status. Photo by IHG.
Without the IHG Rewards Premier card, members must earn 40 qualifying nights or 60,000 qualifying points to claim Platinum Elite status. Thus, by signing up for the IHG Rewards Premier card, you are practically paying $99 to obtain Platinum Elite status with IHG, and I think it is a great way to jump-start your relationship with IHG for a fraction of the cost.
Annual Free Night Award
Another benefit that makes the IHG Rewards Premier card a fantastic keeper card is its annual free night award. Cardmembers receive a free night award on their account anniversary, which can be redeemed at properties that cost up to 40,000 points a night. The free night certificate is valid at domestic and international properties, and you have one year to use the certificate from the date of its issue. I plan on using my free night award at the InterContinental Grand Seoul Parnas when I visit Seoul, South Korea, next year. The free night certificate would cover the hotel’s nightly points redemption rate of 38,000 points, and if I were to book this with cash, it would cost $253 with taxes and fees included. If you travel at least once a year, you can easily utilize this annual perk.
Normally, it would cost $253 to stay at the InterContinental Grand Seoul Parnas. Photo by IHG.
You can use the annual free night award from the IHG Rewards Premier card and stay at the InterContinental Grand Seoul Parnas by paying the card’s annual fee. by IHG.
Complimentary Fourth Night on Award Stays
When you book an award stay that spans four nights or longer, you will receive the fourth night for free. This means IHG will deduct only three nights' worth of points for a four-night stay. Both Hilton and Marriott practice a similar policy where all members of their programs could get a fifth night for free when booking an award stay for five nights or longer. While I think IHG’s fourth-night-free policy is easier to utilize, note that only IHG credit cardmembers are eligible to take advantage of this benefit.
$50 United TravelBank
TravelBank is United Airlines’ interpretation of savings account for future United flights. United MileagePlus members can fund their own accounts and purchase TravelBank credits in predetermined increments. Although United TravelBank credits will eventually expire, credits are valid for five years from the date of purchase, giving United flyers plenty of room to spend the funds.
If you are a United frequent flyer, take advantage of the United TravelBank benefit!
Cardmembers of the IHG Rewards Premier card can register their United MileagePlus accounts here and expect to receive a $25 United TravelBank fund every early January and July. The catch is that these bi-annual credits expire on set dates. For instance, TravelBank funds received between January 1 and June 30 will expire on July 15 of the same calendar year regardless of deposit date, and TravelBank funds received between July 1 and December 31 will expire on January 15 of the same calendar year—again, regardless of deposit date. This is a great benefit for those who fly United Airlines but for non-United flyers, the benefit amount may not be attractive enough to go out of the way and book a United flight.
20% Discount When Purchasing IHG Points
Need to purchase IHG points to top off your points balance? Save 20% by paying them with your IHG Rewards Premier card. I assume only a few people will benefit from this perk since you cannot stack it with additional discounts on IHG points, and these purchased points are not status-qualifying points. Nonetheless, receiving a 20% discount on IHG points doesn't hurt if you need to buy IHG points for booking a dream award stay. [Need to top of your IHG points? Receive a 20% discount when purchasing IHG points with your IHG Rewards Premier card!]
10,000 Points & $100 Bonus IHG Points Opportunity
If you are a high-spender, you can earn 10,000 points and $100 in statement credit after spending $20,000 in a calendar year. Since 10,000 points are worth about $50, this bonus opportunity would be valued at $150. While this is a perk that some people may benefit from, I do not recommend putting $20,000 worth of purchases on the IHG Rewards Premier card to get this particular bonus since you could utilize other credit cards with superior multipliers.
Reimbursed Global Entry or TSA PreCheck Application Fees
Cardmembers can get up to $100 in statement credit when the IHG Rewards Premier card is used to pay for the application. I would highly suggest using this benefit for a Global Entry application since it includes TSA PreCheck. Global Entry can save you hours of waiting time in line over a year if you often travel internationally. You can use this credit every four years and apply it to a friend or family member if your own Global Entry membership is covered by another card. [With increased air travel demands, Global Entry can save you a ton of time at the airport.
Global Entry or TSA PreCheck will allow you to pass through security when you arrive or leave from your American home base airport.
Miscellaneous Benefits
Cardmembers can enjoy trip delay insurance, baggage delay insurance, secondary car rental insurance, trip cancellation insurance, trip interruption insurance, purchase protection, and extended warranty protection. Since it is a World Elite Mastercard, cardmembers can take advantage of special benefits such as a complimentary ShopRunner membership.
Summary
The Chase IHG Rewards Premier card is a solid long-term keeper card. The card is loaded with lucrative perks that will easily offset its modest annual fee of $99. It awards the cardholders with automatic Platinum Elite status, and they can receive a free night award on their account anniversary, which can be redeemed at properties that cost up to 40,000 points a night. The IHG Rewards Premier card lacks strong multipliers. However, the annual free night certificate is worth more than its annual fee, and if you travel once or twice a year, you could benefit from its benefits. Moreover, the current sign-up bonus can earn you 140,000 IHG points and a free night award valued at up to 40,000 points, and we won’t see a higher bonus than this for years. I strongly recommend applying for the IHG Rewards Premier card while its historic high offer is still available.
Please consider using my referral link if you’d like to apply for the Chase IHG Rewards Premier card. It will continue to help fund my blog operations and help visitors make informed decisions to maximize their rewards. Thank you!
