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 | ||
| 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 July 2026. See your own numbers in the calculator.
Welcome bonus and value over time
| Over time | IHG One Rewards Premier | Southwest Rapid Rewards® Plus |
|---|---|---|
| Welcome bonus | 140,000 IHG One Rewards Points | 50,000 Rapid Rewards® bonus points |
| To earn it | $3,000 in 3 months | $1,000 in 3 months |
| Est. first-year value* | $2,315 | $774 |
| Est. ongoing value / yr* | $915 | $274 |
The IHG One Rewards Premier wins on both fronts: it comes out ahead in year one on the welcome offer and stays ahead every year after. Short term or long, it is the stronger pick on the numbers.
*First-year value counts the welcome bonus, estimated rewards, and annual credits, minus the annual fee; ongoing value is a typical year after. Every point at a flat 1 cent.
Perks, credits, and redemptions
| Perks | IHG One Rewards Premier | Southwest Rapid Rewards® Plus |
|---|---|---|
| Lounge access | None | None |
| Annual credits | None | 1 listed credits |
| Points & redemptions | Locked to a single program | Locked to a single program |
The two are closely matched on perks and redemptions, so the welcome offer and everyday earning above are what should decide it.
Transfer partners and point value
Neither card earns transferable points, so redemptions are cash-back or fixed portal value on both, roughly a cent per point. There is no airline or hotel transfer angle to separate them.
Same $99 fee, but one is a hotel card and the other an airline card, so it comes down to whether you stay at IHG or fly Southwest.
The IHG Premier’s free night alone can beat its fee, and it adds Platinum status and a fourth-night-free on award stays. The Southwest Plus builds toward the Companion Pass, Southwest’s marquee perk, and includes free checked bags. Hotel nights vs Southwest travel.
Pros and cons
- An annual free night that can exceed the $99 fee
- Automatic IHG Platinum status and fourth-night-free on awards
- Strong IHG and everyday earning
- A Global Entry/TSA credit
- Points locked to IHG (lower per-point value)
- Free night capped by points level
- Value tied to IHG stays
- Counts toward the Southwest Companion Pass
- Free checked bags on Southwest, no blackout dates
- Anniversary points and a big welcome bonus
- Good for Southwest loyalists
- Points locked to Southwest
- No hotel status or free night
- Modest everyday earning
- No value if you don’t fly Southwest
Where each one wins
| Category | Winner | Why |
|---|---|---|
| Loyalty type | Depends | IHG hotel stays vs Southwest flights. |
| Annual perk | IHG Premier | A free night that can beat the fee. |
| Companion Pass | Southwest Plus | Its spend counts toward the pass. |
| Status | IHG Premier | IHG Platinum status. |
| Annual fee | Tie | Both $99. |
The verdict
If you stay at IHG even a couple of nights a year, the Premier is an easy keep, the annual free night frequently beats the $99 fee by itself, and Platinum status plus fourth-night-free add real value on award stays. For an IHG guest, it more than pays for itself.
If you fly Southwest, especially if you’re chasing the Companion Pass, the Plus is the pick, the pass can be worth far more than any hotel free night if you’ll use it, and free checked bags sweeten every trip. Same fee, opposite loyalties: choose by whether your travel is hotels with IHG or flights on Southwest.