IHG Rewards Club Premier Credit Card Review

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The IHG® Rewards Club Premier Credit Card from Chase is a hotel rewards credit card with a $89 annual fee. It’s ideal for frequent travelers who regularly stay with InterContinental Hotel Group brands, which includes thousands of Holiday Inn, Staybridge Inn, and Candlewood Suites properties in the U.S. and around the world.

Every purchase with this card earns points that can be redeemed for hotel stays at thousands of IHG properties worldwide, usually at rates ranging from $0.005 to $0.01 per point. Cardholders in good standing also get a host of useful perks at IHG hotels, including 1 reward night per year and automatic upgrade to Platinum Elite status, which accelerates point earnings and entitles members to complimentary room upgrades.

If you’re interested in alternatives to IHG Rewards Club Premier, look to hotel-specific rewards cards such as Marriott Bonvoy Boundless™ Credit Card from Chase. It may also be worth considering airline-specific credit cards such as United MileagePlus Explorer and general-purpose travel cards such as Chase Sapphire Preferred.

Key Features

Sign-up Bonus

Earn 140,000 bonus points when you spend at least $3,000 in eligible purchases during your first 3 months of cardmembership. That’s worth more than 10 free nights at participating IHG properties.

Earning IHG Rewards Club Points

This card earns rewards at these rates:

  • Every $1 spent at IHG properties earns an unlimited 10 points, for up to 25 points total on every $1 spent at IHG properties.
  • Purchases made at restaurants, gas stations, and grocery stores earn an unlimited 2 points per $1.
  • All other purchases, including hotel stays at non-IHG hotels, earn an unlimited 1 point per $1.

Redeeming IHG Rewards Club Points

Points can be redeemed for free hotel stays at IHG properties, starting at a minimum of 10,000 points for lower-tier properties and 70,000 points for the highest-tier properties. If you don’t have enough points to pay for a full night’s stay, you can purchase up to 10,000 additional points at $0.007 apiece ($70 maximum) through IHG’s Points & Cash option. Redemption thresholds are subject to change at any time.

At redemption, point values usually range from $0.005 to $0.01, sometimes more or less. Points don’t expire as long as you redeem any or earn more – through card purchases or hotel stays – within any 12-month period.

Fourth Reward Night Free

When you book a reward stay of four nights or longer (paid entirely with points), you automatically get the fourth night free.

Annual Spend Bonus

When you spend at least $20,000 in purchases and make one additional purchase within the same calendar year, you get an additional 10,000 bonus points.

Point Purchase Subsidy

Enjoy a 20% discount on the purchase of IHG points with your IHG Rewards Club Premier card.

Anniversary Reward Night

Every year, you get 1 reward night good for use at thousands of properties worldwide. Redeeming your reward night doesn’t cost any points, but you don’t earn any additional points for the stay.

Platinum Elite Status Upgrade

As long as you remain a cardmember in good standing, you enjoy IHG Platinum Elite status. You do have to formally apply for this status after you receive your card, but it doesn’t cost anything to do so.

Platinum Elite status confers numerous benefits:

  • Priority check-in
  • Complimentary room upgrades whenever available
  • Guaranteed room availability with at least 72 hours’ advance notification
  • 50% point-earning bonus for all IHG hotel stays – for instance, a stay that would have earned 2,000 points earns 3,000 with Platinum Elite status

Important Fees

The annual fee is $89. There are no foreign transaction fees. Balance transfers cost the greater of $5 or 5% and cash advances cost the greater of $10 or 5%.

Credit Required

This card requires good or excellent credit.

Advantages

  1. Generous Sign-up Bonus. This card has one of the most generous sign-up bonuses in the hotel rewards category – particularly at this relatively modest price point.
  2. Automatic Platinum Elite Status Upgrade. The IHG Rewards Club Premier Card comes with an automatic upgrade to Platinum Elite status, IHG’s second-highest frequent traveler status. Platinum Elite entitles you to 50% faster point earnings when you stay at IHG hotels, complimentary room upgrades whenever available, 72-hour guaranteed availability, and other perks. This benefit doesn’t cost anything extra, and its value is potentially huge for frequent travelers. By contrast, Marriott Bonvoy Boundless cardholders only earn Silver Elite status, a lower frequent traveler level that doesn’t include complimentary room upgrades, guaranteed room availability, or 50% faster point earnings.
  3. Save 20% on Purchases When You Buy Points With Your Card. If you need to buy additional IHG points with your card, you’ll save 20% on face value – not a bad subsidy for your award travel.
  4. 2x Points Categories Are Broad. The IHG Rewards Club Premier Card’s categories that reward 2 points per $1 spent cover broad, everyday expenses: gas, groceries, and restaurants. This is a big advantage for frequent travelers seeking a boost on everyday spending.
  5. No Foreign Transaction Fee. IHG Rewards Club Premier cardholders don’t have to worry about foreign transaction fees. That’s great news for cardholders who regularly travel abroad. By contrast, Citi Hilton Honors Visa Signature has a 3% foreign transaction fee.

Disadvantages

  1. Has an $89 Annual Fee. This card’s $89 annual fee applies as soon as you open your account.
  2. Inflexible Redemption Options. While you can redeem your IHG Rewards Club points at more than 5,000 properties worldwide, there’s not much else you can do with them. You can’t redeem them for merchandise, statement credits, gift cards, or even incidental purchases at participating hotels. Citi Hilton Honors Reserve allows you to redeem for hotel incidentals, while U.S. Bank FlexPerks Travel Rewards allows you to redeem for general merchandise and cash equivalents, such as gift cards and statement credits, in addition to travel purchases.
  3. Limited Travel and Experience Benefits. Although it does come with an automatic upgrade to Platinum Elite status, the IHG Rewards Club Premier Card offers few travel and experience benefits not directly related to IHG hotels or the rewards system. For instance, it doesn’t have a concierge service, travel protection insurance, or exclusive/VIP event access (these things aren’t included in Platinum Elite status). By contrast, Citi Hilton Honors Reserve comes with 24/7 travel booking assistance and exclusive access to a raft of special events, such as concerts and sports contests.
  4. Potentially Low Point Values at Redemption. Although the value of IHG Rewards Club points varies based on the monetary cost of the hotel stay for which they’re redeemed, the range generally works out to $0.005 to $0.01, and IHG charges $0.007 per point when purchased through Points & Cash. U.S. Bank FlexPerks points are reliably worth $0.02 apiece, and points accumulated with Chase Sapphire Preferred are worth up to $0.0125 when redeemed for travel at Chase’s Ultimate Rewards portal.

Final Word

InterContinental Hotel Group isn’t a well-known name, but some of its hotel brands certainly are. If you’ve ever stayed at a Holiday Inn, Holiday Inn Express, or any other related property, you’ve stayed at an IHG hotel. Depending on how often you travel and how frequently you encounter IHG-branded properties along the way, this could be a powerful rewards card to keep in your wallet – even if you use another product, such as an airline rewards or cash back rewards card, as your primary card.

On the other hand, the IHG® Rewards Club Premier Credit Card isn’t great for infrequent travelers, cardholders who prefer not to deal with annual fees, cardholders who prefer more flexible rewards programs with a wider variety of redemption options, and travelers looking for value-added perks such as concierge service and VIP access. Of course, if you prefer another hospitality family – say, Hilton or Marriott – there’s sure to be a suitable card for you as well, as many other hotel rewards credit cards are available.

Source: moneycrashers.com

Share Your Chase Sapphire Preferred Referral Links Here

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Feel free to share your Chase Sapphire Preferred referral link in the comments below. Do not add any additional words other than the referral link and don’t thread comments.

If you are signing up for the Sapphire card for the increased 80,000 + $50 offer, consider using a reader’s referral to give them a 15,000 points bonus at no cost to you. (Some might prefer to sign up in a Chase branch to get the $95 annual fee waived, if you are in the area to do so.)

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Source: doctorofcredit.com

Do You Know How Much You’re Spending on Dining and Takeout?

Pretty much everyone upped their spending on take-out food in 2020 – and for good reason. With restaurants closed for indoor dining and grocery stores experiencing unpredictable staffing and inventory issues, many consumers chose to order out for the majority of their meals.

Now that things are slowly returning to normal, you may be wondering how to adjust your budget accordingly. We’ll walk you through how to determine the right amount to budget for take-out and dining, and give you some strategies to save money when ordering from your favorite restaurants.

How Much Should You Spend on Dining and Take-Out?

It’s hard to give an exact prescription for how much you should spend on take-out because it largely depends on the specifics of your budget and financial situation. In general, your food budget, including groceries and eating out, should make up between 10 and 15% of your income. Families with multiple children may spend more than that, so don’t worry if your percentage exceeds the recommendation.

If you’re not sure how much you spend on food, go through your transactions for the past few months and calculate the percentage.

John Bovard, CFP of Incline Wealth Advisors said consumers who have no credit card debt and invest 20% or more of their income in a retirement account can spend 10% of their post-tax income on take-out.

Ways to Save on Takeout

Want to keep your takeout tradition but still feel like you’re spending too much? Here are some tips to save money when ordering out from your favorite restaurants:

Pick up in person

Everyone knows that delivery fees add a huge surcharge to your total bill, but you might not realize how big the difference actually is. A New York Times article found that the same sandwich at Subway costs between 25% and 91% more when delivered, depending on the specific delivery app.

A $20 order could cost between $5 and $18.20 more if you get it delivered. The cost is generally higher during weekends and holidays.

Look for specials

Plan your take-out around restaurant specials. Follow restaurants on social media to see when they’re running discounts, like half-price oysters on Sundays or happy hour specials. When you’re picking up the food, ask someone behind the counter when the best deals are.

Restaurants often print coupon codes or discounts on their receipts, so don’t forget to check there.

Use discounted gift cards

Many restaurants and fast food places sell gift cards and often run special sales, like selling a $50 gift card for $45. This is especially popular during the holiday season.

Wholesale clubs like Costco and Sam’s Club regularly sell discounted gift cards to popular chains. For example, you can buy $100 worth of gift cards to California Pizza Kitchen for only $80 at Costco, or $75 worth of Domino’s gift cards for only $65.

You can also buy restaurant gift cards online through GiftCardGranny or CardCash, which sell gift cards for up to 10% off.

Skip dinner

Dinner is the most expensive meal of the day, so opt for breakfast or lunch if you’re eating out. If you get take-out a couple times a week, use one for dinner and the other for brunch or lunch.

Cash in rewards

Some restaurants have loyalty programs you can join with an email address or phone number, while others have an old-fashioned punch card system. Keep track of these rewards so you cash them out before they expire.

Order catering

If you’re eating with a group of people, see if the restaurant offers catering, which may be less expensive than ordering individual entrees. Everyone will have to eat the same thing, but it’s a great way to save money.

Sign up for restaurant emails

Both local and national restaurants often have email newsletters you can join to get extra discounts. For example, my favorite Mexican restaurant is constantly sending me emails for 10 or 15% off take-out.

Create a separate label for these emails so you can sort through them before ordering take-out. You can also add reminders on your phone to use the discounts before they expire.

Use a rewards credit card

Many credit cards offer points or cashback when you dine out, and some let you cash in points for restaurant gift cards. Look up the rewards policies for your current credit cards to see which one you should use for restaurants.

Consider opening a new card if you don’t have a dining rewards card. The Chase Sapphire Preferred offers 2% cashback for dining and also comes with a year of DashPass, the DoorDash subscription service with $0 delivery fees.

Chase Sapphire Reserve cardholders earn 3% cashback on dining, get a free year’s worth of DashPass and also have $60 of DoorDash credit for the first year.

Most dining rewards cards have an annual fee, usually around $95, so don’t open one unless the cashback rewards will exceed the fee. Some card companies will waive the fee for the first year, allowing you to see if you’ll earn enough rewards to offset the fee. Some rewards credit cards also let you cash in points for restaurant gift cards.

Buy a food delivery subscription

If you don’t have easy access to transportation, then ordering delivery may be your best option.  In this case, consider signing up for a food delivery membership. DoorDash, Grubhub, Postmates, and Uber Eats all offer a monthly subscription for around $10. Each subscription comes with free delivery and other specials.

Before you sign up, calculate how often you order out and see if a monthly membership makes sense. If you have a neighbor or roommate, consider splitting a subscription with them to save even more money.

Many of these services have a free trial period, allowing you to gauge how much you’ll actually use them. Choose the app with the largest number of restaurants you like.

Use a browser extension

Browser extensions like Rakuten provide cashback when you order from delivery sites like Grubhub and Seamless. Just click on the Rakuten button on the top right of your browser when you visit either of those sites. You’ll earn up to 11% cashback with eligible orders.

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Source: mint.intuit.com