A cobranded hotel card is only worth carrying if the perks match where you actually sleep. The Points Guy's latest review of the IHG Business Credit Card makes that case in detail: for small-business owners with even a modest IHG habit, the benefits can outweigh the $200 annual fee — but loyalty to the brand is the whole equation.

The headline numbers: a limited-time launch offer of 190,000 bonus points, up to 26 points per dollar at IHG properties once elite bonuses are factored in, and 5 points per dollar on flights booked directly, car rentals, gas stations, restaurants and select advertising. Everything else earns a modest 3 points per dollar, which is where more general business cards start to look tempting.

The value case rests on a stack of credits and certificates. Cardholders get up to $100 a year in IHG food and beverage rewards (drip-fed as $25 quarterly vouchers) plus a $100 airline statement credit — though that one requires at least $250 in direct airline flight purchases during the calendar year, an offer running through the end of 2027. Used fully, those two alone cover the fee on paper.

The perk TPG rates highest is the anniversary free night certificate, valid for stays priced up to 50,000 points, with unlimited point top-ups allowed if a property costs more. Reviewers have stretched it to InterContinental properties in Buenos Aires and Madrid and Amsterdam's Kimpton De Witt, which shows it isn't limited to roadside properties. There's also a fourth-night-free benefit on award stays, applied automatically with no cap — stay eight nights and the fourth and eighth nights are both free.

Automatic Platinum Elite status rounds out the package: a 60% points bonus on paid stays, space-available upgrades and a welcome amenity, plus 15 elite night credits annually toward higher tiers. Notably, Platinum does not include free breakfast. Diamond status — which often does — is available at $50,000 of annual spend ($40,000 through the end of 2026), a threshold TPG calls a poor return compared with putting that spend on a more flexible card. The same logic applies to the higher spend bonuses: a second free night certificate at $60,000 of calendar-year spending isn't compelling when everyday rewards cards earn more.

Practical extras include trip cancellation coverage of up to $1,500 per traveller ($6,000 per trip), primary auto rental collision coverage for business rentals, 120-day purchase protection, up to $100 in annual Expensify credits, and a credit for Global Entry, TSA PreCheck or Nexus every four years.

The verdict is a four-star rating with clear guardrails: if you book IHG a few times a year and will actually use the vouchers, certificates and status, the maths works comfortably. If your hotel loyalties wander or you'd rather hold transferable points, a flexible business rewards card will serve you better. This one rewards consistency, not generalists.

Story via The Points Guy.