Bank of America® Premium Rewards® Elite vs IHG One Rewards Premier Credit Card
Annual fees: Bank of America® Premium Rewards® Elite $550/yr, IHG One Rewards Premier Credit Card $150/yr. Strongest bonus categories: Bank of America® Premium Rewards® Elite on dining, IHG One Rewards Premier Credit Card on gas stations.
Card data as of November 13, 2026.
Bank of America® Premium Rewards® EliteBank of America · $550/yr
IHG One Rewards Premier Credit CardChase · $150/yr
Overview
- Annual fee
- Bank of America® Premium Rewards® Elite$550IHG One Rewards Premier Credit Card$150Lowest
- Welcome offerCurrent public offer
- Bank of America® Premium Rewards® Elite75,000 pointsIHG One Rewards Premier Credit CardUp to 190,000 points
- Rewards
- Bank of America® Premium Rewards® EliteBank of America pointsIHG One Rewards Premier Credit CardIHG One Rewards
- Foreign transaction fee
- Bank of America® Premium Rewards® EliteNoneIHG One Rewards Premier Credit CardNone
- Network
- Bank of America® Premium Rewards® EliteVisa InfiniteIHG One Rewards Premier Credit CardMastercard World Elite
Earn ratesPer $1 spent
- Car Rentals
- Bank of America® Premium Rewards® Elite1.5xIHG One Rewards Premier Credit Card5xHighest
- Dining
- Bank of America® Premium Rewards® Elite2xIHG One Rewards Premier Credit Card5xHighest
- Flights
- Bank of America® Premium Rewards® Elite1.5xIHG One Rewards Premier Credit Card5xHighest
- Gas Stations
- Bank of America® Premium Rewards® Elite1.5xIHG One Rewards Premier Credit Card5xHighest
- Grocery Stores
- Bank of America® Premium Rewards® Elite1.5xIHG One Rewards Premier Credit Card5xHighest
- Travel
- Bank of America® Premium Rewards® Elite2xIHG One Rewards Premier Credit Card3xHighest
- Everything else
- Bank of America® Premium Rewards® Elite1.5xIHG One Rewards Premier Credit Card3xHighest
Statement creditsAs the issuer states them · — means none on record
- Travel
- Bank of America® Premium Rewards® Elite
- $300 airline credit
- $120 Global Entry/TSA PreCheck every 4 years · $120 every 4 years
IHG One Rewards Premier Credit Card- $120 Global Entry/TSA PreCheck · $120 every 4 years
- $100 airline statement credit
- $100/yr IHG food & beverage · $25 quarterly
- $50/yr United TravelBank · $25 every 6 months
- Dining & delivery
- Bank of America® Premium Rewards® Elite—IHG One Rewards Premier Credit Card
- DoorDash DashPass
- $10/mo Instacart+
- Other credits
- Bank of America® Premium Rewards® Elite
- $150 lifestyle credit
IHG One Rewards Premier Credit Card—
Perks & access— means none on record
- Lounges
- Bank of America® Premium Rewards® Elite
- 4 Priority Pass memberships with unlimited visits
IHG One Rewards Premier Credit Card— - Hotel status & programs
- Bank of America® Premium Rewards® Elite
- 900+ luxury hotels with room upgrades
IHG One Rewards Premier Credit Card- Automatic IHG Gold Elite status
- Platinum Elite at $15K spend, Diamond at $40K
- Other perks
- Bank of America® Premium Rewards® Elite
- 24/7 personal concierge service
- 20% off airfare when redeeming points
IHG One Rewards Premier Credit Card- 30% reward points discount
Protections & insuranceLimits where published · — means none on record
- Trip insurance
- Bank of America® Premium Rewards® Elite
- Travel Protections
IHG One Rewards Premier Credit Card- Trip cancellation and interruption insurance · up to $5,000
- Baggage
- Bank of America® Premium Rewards® Elite—IHG One Rewards Premier Credit Card
- Lost Luggage Reimbursement · up to $3,000
- Baggage delay insurance · up to $100
- Purchase & returns
- Bank of America® Premium Rewards® Elite—IHG One Rewards Premier Credit Card
- Purchase protection for new items · up to $500
- Extended warranty
- Bank of America® Premium Rewards® Elite—IHG One Rewards Premier Credit Card
- Extended warranty protection for eligible purchases · up to $1
- Other protections
- Bank of America® Premium Rewards® Elite
- FICO® Score
IHG One Rewards Premier Credit Card—
Pros & cons
- Pros
- Bank of America® Premium Rewards® Elite—IHG One Rewards Premier Credit Card
- $150 annual fee is offset by the Anniversary Free Night (up to 50,000 points) and the annual credits
- 10X points at IHG properties; 5X on directly booked flights, car rentals, dining, grocery and gas
- Automatic Gold Elite status; Platinum Elite after $15K annual spend
- Fourth night free on award stays effectively gives 25% discount
- Up to $100 in IHG food and beverage credits and a $100 airline statement credit each year
- Cons
- Bank of America® Premium Rewards® Elite—IHG One Rewards Premier Credit Card
- Free night capped at 50,000 points excludes top-tier properties
- IHG points valued around 0.5 cents per point - lower than competitors
- No airport lounge access included
- $50 United TravelBank credit requires separate registration
- Diamond Elite through spend requires hefty $40K annual threshold
Category-by-Category Winner
The IHG One Rewards Premier Credit Card wins in 7 of 7 categories. The Bank of America® Premium Rewards® Elite leads in 0.
Dining
IHG One Rewards Premier Credit Card earns 5X vs 2X
Travel
IHG One Rewards Premier Credit Card earns 3X vs 2X
Gas Stations
IHG One Rewards Premier Credit Card earns 5X vs 1.5X
Flights
IHG One Rewards Premier Credit Card earns 5X vs 1.5X
Car Rentals
IHG One Rewards Premier Credit Card earns 5X vs 1.5X
Grocery Stores
IHG One Rewards Premier Credit Card earns 5X vs 1.5X
Everyday purchases
IHG One Rewards Premier Credit Card earns 3X on all other spending vs 1.5X
Year One vs Ongoing Value
Modeled net value (bonus categories at unconditional rates, caps applied). Spend mix: dining 15%, groceries 15%, gas 10%, travel 10%, everything else 50%. Statement credits use the same recurring usable estimates as each card's detail page; first-year-only credits count in year one only. Welcome offers valued at each card's program rate shown on this page.
Both scenarios favor the IHG One Rewards Premier Credit Card on net value (rewards, usable credits, fees, and welcome offer).
| Scenario | Bank of America® Premium Rewards® Elite | IHG One Rewards Premier Credit Card | Ongoing winner | Year-one winner |
|---|---|---|---|---|
| Light spender: $1,000/month | Rewards: $195 Credits (our usable estimate): $295 − Annual fee ($550) Ongoing: -$60 Year one: $690 | Rewards: $274 Credits (our usable estimate): $160 − Annual fee ($150) Ongoing: $284 Year one: $1,394 | IHG One Rewards Premier Credit Card | IHG One Rewards Premier Credit Card |
| Heavy spender: $4,000/month | Rewards: $780 Credits (our usable estimate): $295 − Annual fee ($550) Ongoing: $525 Year one: $1,275 | Rewards: $1,094 Credits (our usable estimate): $160 − Annual fee ($150) Ongoing: $1,104 Year one: $2,214 | IHG One Rewards Premier Credit Card | IHG One Rewards Premier Credit Card |
Is the Fee Difference Worth It?
The Bank of America® Premium Rewards® Elite costs $550/yr — that's $400 more than the IHG One Rewards Premier Credit Card ($150/yr). To justify that gap, you need to extract at least $400 in annual value from the card's higher earn rates and benefits.
The Bank of America® Premium Rewards® Elite includes travel credits, lounge access, Global Entry/TSA PreCheck credit. Those perks are not included in the earn-rate scenario table above — compare their dollar value to the $400 fee gap for your own usage.
Bottom line: Use the year-one vs ongoing table for modeled earn value at your spend level. The $400 fee gap means the Bank of America® Premium Rewards® Elite needs roughly $400 more in annual rewards (or credits you will use) to break even on dining and travel and everyday spend.
What You Give Up
Choosing one card means missing out on these benefits from the other.
Choosing IHG One Rewards Premier Credit Card means losing:
- -Airport lounge access
Which Card Is Right for You?
Get the Bank of America® Premium Rewards® Elite if you:
- +Fly frequently and value airport lounge access
Get the IHG One Rewards Premier Credit Card if you:
- +Do most of your spending at grocery stores
- +Prefer a high flat rate across all spending
The Bottom Line
Both scenarios favor the IHG One Rewards Premier Credit Card on net value (rewards, usable credits, fees, and welcome offer).
Everyday (non-bonus) spend earns 3X on the IHG One Rewards Premier Credit Card vs 1.5X on the other card.
Published annual fees: Bank of America® Premium Rewards® Elite $550/yr, IHG One Rewards Premier Credit Card $150/yr — a $400 difference before welcome offers and credits.
Frequently Asked Questions
- Is the Bank of America® Premium Rewards® Elite worth the higher annual fee?
- The Bank of America® Premium Rewards® Elite costs $550/yr vs $150/yr for the IHG One Rewards Premier Credit Card. Compare the year-one vs ongoing value table on this page — the $400 gap must be offset by higher earn rates, welcome offers, or credits you will use (the Bank of America® Premium Rewards® Elite also lists lounge access, travel credits).
- Which card earns more rewards, the Bank of America® Premium Rewards® Elite or IHG One Rewards Premier Credit Card?
- The IHG One Rewards Premier Credit Card has a higher base earn rate (3X vs 1.5X), but both cards have different bonus categories where they excel.
- What benefits does the Bank of America® Premium Rewards® Elite have that the IHG One Rewards Premier Credit Card doesn't?
- The Bank of America® Premium Rewards® Elite offers lounge access, travel credits. The IHG One Rewards Premier Credit Card offers travel credits.
- Should I get the Bank of America® Premium Rewards® Elite or the IHG One Rewards Premier Credit Card?
- Use the spend scenarios on this page: the IHG One Rewards Premier Credit Card has a lower $150/yr fee; the Bank of America® Premium Rewards® Elite must earn enough extra (or offer a larger welcome bonus) to justify $550/yr.
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Editorial disclosure: CardRewards.ai is an independent comparison service. Card data comes from issuers' published terms; catalog last published November 13, 2026, and each card page shows when its terms were last checked. Card issuers do not influence our rankings or content.