If you spend a good chunk of your time flying all over the world and sleeping in hotel rooms, this credit card may be just right for you.
Loyal customers of IHG (InterContinental Hotels Group), which includes famous hotel chains such as Holiday Inn and Crowne Plaza, may want to take a look at this credit card, which increases the points you can earn through the IHG loyalty programme exponentially.
Usually, you only earn reward points when you spend money at IHG. For example, you get 10 points for each £1 spent at most IHG hotels. However, with the IHG Rewards Club Premium Credit Card the points you earn spending at IHG are increased by 50%, and you can also earn points from all your other purchases, in the UK and abroad.
The downside of this is the comparatively expensive £99 per annum fee. Ultimately, it all comes down to whether you travel enough and use the card enough to outweigh it – if you’re in between, the standard IHG Rewards Club Credit Card may be a good alternative option.
As far as the other financial features go, this credit card also scores decently against the competition. Provided you don’t carry a balance from month to month, you’ll get up to 50 days of 0% interest on your purchases each billing cycle.
If you’re looking to do a balance transfer, there is a balance transfer fee of 3% (min. £3) to consider, and it’s also important to remember that if you don’t clear your balance in full within the 12 months, any outstanding balance will start to accrue interest at the card’s standard rate.
As this card is on the Mastercard network, it’s accepted in more than 40 million locations worldwide. You’ll also be able to enjoy access to Priceless Cities experiences.
|Issuer||Creation Financial Services|
|Rep. APR||41.5% p.a. (variable)|
|Annual/monthly fees||£99 per annum|
|Loyalty scheme||IHG Rewards|
|Incentive||2 IHG Rewards Club point for every £1 spent in the UK.|
4 IHG Rewards Club points for every £1 spent at any IHG location in the UK.
4 IHG Rewards Club points for every £1 spent abroad.
Free night voucher at any IHG property if customer spends £10,000 per year. Free night voucher to be awarded on account anniversary.
|Incentive on opening||20,000 IHG Rewards Club bonus points when spend £200 in first 90 days of account opening|
|Additional Rewards Info||InterContinental Hotel Group Platinum Elite Status on opening account with following benefits: 50% extra bonus points on top of usual points, priority check-in on guaranteed reservations, extended check-out, no black-out dates on Reward nights, dedicated customer service line, complimentary room upgrades and guaranteed room availability.|
|Purchases interest-free period (days)||50|
|Balance transfers||0% for 12 months reverting to 19.9%|
|Annual/monthly fees||£99 per annum|
|Balance transfer fee||3% (min. £3)|
|Foreign usage charge (EU)||2.99%|
|Foreign usage charge (rest of world)||2.99%|
|Cash advance fee||3% (min. £5)|
|Late payment fee||£12|
|Duplicate statement fee||£3|
|Exceeding limit fee||£12|
|Additional card fee||£0|
|Residency||Cannot be claiming unemployment benefits.|
|Availability||Available to new customers|
Compare cards that earn IHG Rewards Club points
Approval for any credit card will depend on your status. The APR shown represents the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.
Compare popular rewards credit cards
When it comes to repayments, you can make manual repayments online or over the phone (0371 376 9214), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
|Minimum amount||Fixed amount||Fixed percentage||Full amount|
How to apply for the IHG Rewards Club Premium Credit Card
Once you’ve compared credit cards and decided the rewards this one offers are worth the fee, you can apply online. Check the eligibility criteria first, to make sure you’re not wasting your time.
If you have all the documents and details you need, it shouldn’t take more than 10-15 minutes. The application process will start with an eligibility check, that will tell you if your application has a good chance of being accepted without impacting your credit score.