What the IHG One Rewards card does
The IHG One Rewards card is a credit card issued by Capital One that earns points on every purchase you make. Those points convert into free nights at InterContinental Hotels Group properties — which includes Holiday Inn, Holiday Inn Express, Crowne Plaza, and several other brands. You earn points whether you stay at hotels or not; the card rewards all spending, and the points accumulate in your IHG One Rewards account.
The card comes with a welcome bonus (the size varies by offer), an annual free night certificate, and a points multiplier on hotel stays booked through IHG's website. Unlike some hotel cards that lock you into one chain, this card works across IHG's entire portfolio, so a Holiday Inn member can use points at any IHG property worldwide.
Key Takeaways
- The IHG One Rewards card earns points on all purchases, and those points redeem for free nights at Holiday Inn, Holiday Inn Express, Crowne Plaza, and other IHG brands.
- You receive an annual free night certificate each year you hold the card, which can cover a room at properties in certain point categories.
- The card charges an annual fee, and you should compare that cost against the value of the free night certificate and your expected point earnings.
- Points do not expire as long as your account remains active, but your account closes if you do not use your IHG membership for three years.
- You can transfer points to airline partners, though the conversion rate is typically unfavorable compared to redeeming for hotel nights.
How points work and what they're worth
Every dollar you spend on the card earns a set number of points — the exact rate depends on the card version and the current offer. Points accumulate in your IHG One Rewards account, which is separate from your credit card account but linked to it. You can see your balance anytime by logging into the IHG website or app.
The value of a point varies by hotel and by season. A free night at a budget Holiday Inn Express might cost 10,000 points, while a free night at a higher-category property could cost 50,000 or more. IHG publishes a chart showing which properties fall into which point categories, so you can estimate what your points will buy before you book. Points do not expire as long as you use your IHG membership at least once every three years — either by staying at a hotel, earning points through the card, or logging into your account.
The annual free night certificate and what it covers
Each year you hold the card, you receive a free night certificate. This certificate lets you book one free night at an IHG property without using points from your account. The catch is that the certificate only works at properties in certain point categories — usually the lower and mid-range tiers. A certificate might cover a Holiday Inn or Holiday Inn Express but not a luxury Crowne Plaza property, depending on the card version and the current terms.
The certificate typically expires one year after you receive it, so you need to use it or lose it. You book the free night through the IHG website or by calling the hotel directly, and you still pay taxes and resort fees if the property charges them. The value of this certificate alone can offset much or all of the card's annual fee, which is why many cardholders keep the card even if they don't travel frequently.
Annual fee and whether the card makes financial sense
The IHG One Rewards card charges an annual fee, which Capital One bills to your credit card account each year. The amount varies depending on which version of the card you hold. Before you open the card, calculate whether the free night certificate and your expected point earnings justify that cost.
If you stay at IHG hotels at least once a year, the free night certificate alone may cover the fee. If you also spend enough on the card to earn points that convert to additional free nights, the math becomes even more favorable. But if you rarely travel or rarely stay at IHG properties, the fee may outweigh the benefits. You can cancel the card anytime, and Capital One will not charge the annual fee again after you close the account.
Earning bonus points and maximizing rewards
New cardholders receive a welcome bonus — typically a large point award after you meet a spending threshold within the first few months. This bonus is often the biggest point earning opportunity, so factor it into your decision about whether to open the card. The spending requirement is usually between $500 and $2,000, depending on the current offer.
Beyond the welcome bonus, you earn points on everyday purchases at a standard rate. The card also offers bonus point multipliers on hotel stays booked through IHG.com, which means you earn more points per dollar when you book directly with IHG rather than through a third-party travel site. Some versions of the card also offer bonus points on dining, gas, or other categories, so check the current terms before you explore.
Transferring points to airline partners
IHG allows you to transfer points to airline frequent flyer programs — partners include most major carriers. However, the conversion rate is typically unfavorable. You might need to transfer 2,500 or 3,000 IHG points to earn 1,000 airline miles, which means you lose value in the exchange. For most cardholders, redeeming points for hotel nights directly offers better value than transferring to airlines.
The exception is if you have a large point balance and no near-term hotel travel plans. In that case, transferring some points to an airline you fly frequently might prevent those points from going unused. But as a general strategy, hotel redemptions are the more efficient use of IHG points.
How the card fits into your overall credit and travel strategy
The IHG One Rewards card makes the most sense if you stay at IHG properties regularly or plan to in the next year. If you already have a Holiday Inn membership, you're already earning points on stays; the card straightforward accelerates that earning and adds points from everyday spending. If you don't travel much or prefer other hotel chains, a different rewards card might serve you better.
Keep in mind that opening any credit card involves a hard inquiry on your credit report, which can temporarily lower your credit score by a few points. If you're planning to explore for a mortgage, auto loan, or other credit in the next few months, timing matters. But if your credit is stable and you plan to keep the card open for at least a year to cover the annual fee, the long-term rewards often outweigh the short-term score impact.
Frequently Asked Questions
Do my IHG points expire?
Points do not expire as long as you use your IHG membership at least once every three years. Using the card, staying at a hotel, or even logging into your account counts as activity. If your account goes inactive for three years, IHG closes it and you lose any remaining points.
Can I use the free night certificate at any IHG hotel?
No. The certificate only works at properties in specific point categories, which IHG publishes on its website. Most certificates cover lower and mid-range properties like Holiday Inn and Holiday Inn Express, but not luxury brands. Check the category chart before you assume your preferred property qualifies.
What happens to my points if I cancel the card?
Your points stay in your IHG One Rewards account even after you close the credit card. As long as you use your IHG membership at least once every three years, the points remain available to redeem. Canceling the card does not automatically cancel your IHG membership.
Is the welcome bonus worth opening the card for?
The welcome bonus can be substantial — often enough to cover several free nights or a free night plus taxes. If you can meet the spending requirement within a few months through normal purchases, the bonus alone may justify opening the card, especially if you plan to stay at an IHG property soon anyway.
Can I earn points on the annual fee itself?
No. The annual fee does not earn points. You only earn points on purchases you make with the card, not on fees Capital One charges you.