IHG One Rewards Premier vs Discover it® Cash Back
Side-by-side comparison
| IHG One Rewards Premier | Discover it® Cash Back | |
|---|---|---|
| Annual fee | $99 | No annual fee |
| Welcome offer | Up to 185,000 IHG One Rewards Points | Cashback Match, all cash back earned in year 1 doubled |
| Dining | 5x | 1x |
| Groceries | 3x | 1x |
| Gas | 5x | 1x |
| Travel | 5x | 1x |
| Streaming | 3x | 1x |
| Everything else | 3x | 1x |
| Est. yearly rewards* | $1,014 | $292 |
| Points type | Locked to IHG One Rewards | Cash back only |
| Network | Mastercard | Discover |
*Estimated yearly rewards on typical household spending, every point valued at a flat 1 cent. Verified June 2026. See your own numbers in the calculator.
The verdict
On a typical year of household spending, the IHG One Rewards Premier earns about $1,014 a year in rewards and the Discover it® Cash Back about $292, valuing every point at a flat 1 cent. The IHG One Rewards Premier charges $99, which you clear through its rewards and perks. The Discover it® Cash Back has no annual fee, so its rewards are all profit. Counting rewards, fees, and any credits, the IHG One Rewards Premier delivers more total value, about $623 a year more for a typical spender, mostly because it earns more where you spend most, on everything else and groceries. Neither leans on transferable points, so the deciding factors are the welcome offer, the card network, and which everyday perks you will actually use. On the sign-up bonus, the IHG One Rewards Premier currently has the larger welcome offer. A welcome bonus is a one-time event, so weigh it apart from the ongoing rewards.
Pick the IHG One Rewards Premier if your spending leans toward dining, groceries, gas.