IHG One Rewards Premier vs Southwest Rapid Rewards® Plus
Side-by-side comparison
| IHG One Rewards Premier | Southwest Rapid Rewards® Plus | |
|---|---|---|
| Annual fee | $99 | $99 |
| Welcome offer | Up to 185,000 IHG One Rewards Points | |
| Dining | 5x | 1x |
| Groceries | 3x | 2x |
| Gas | 5x | 2x |
| Travel | 5x | 1x |
| Streaming | 3x | 1x |
| Everything else | 3x | 1x |
| Est. yearly rewards* | $1,014 | $373 |
| Points type | Locked to IHG One Rewards | Locked to Southwest Rapid Rewards |
| Network | Mastercard | Visa |
*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 Southwest Rapid Rewards® Plus about $373, valuing every point at a flat 1 cent. The IHG One Rewards Premier charges $99, which you clear through its rewards and perks. The Southwest Rapid Rewards® Plus charges $99, which you clear through its rewards and perks. Counting rewards, fees, and any credits, the IHG One Rewards Premier delivers more total value, about $641 a year more for a typical spender, mostly because it earns more where you spend most, on everything else and dining. 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. Note that Southwest Rapid Rewards® Plus is running a limited-time offer above the usual amount, so that edge may not last. 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.