Creation closes the two IHG One Rewards UK credit cards for good

Creation Financial Services and IHG are officially parting ways, which spells the end for Creation’s IHG One Rewards credit cards.

Whilst the two cards have been closed to new applicants since the end of 2021, existing cardholders were able to continue earning IHG One Rewards points on transactions (unless, of course, your account was suspended.)

More importantly, existing cardholders were able to keep receiving free elite status in IHG One Rewards and picking up a voucher for a free night each year for spending £10,000.

Creation has now given notice that it will close the IHG One Rewards credit cards on 28th June. Anyone with an IHG card will be moved to the generic Creation credit card, which appears to have no benefits whatsoever.

Whilst you will still be charged your annual card fee between now and 28th June, Creation says it will automatically process pro-rata refunds by the end of July 2023.

In the meantime, your existing card will continue to work until 27th June. You need to spend £10,000 by this date to trigger your final annual free night voucher, which will be difficult for many.

How can you keep your IHG One Rewards status for 2024?

If you are concerned about losing your IHG One Rewards status, remember that InterContinental Ambassador comes with IHG One Rewards Platinum Elite status.

It will cost you $200 per year to join but this includes a ‘buy one get one free’ weekend stay voucher valid at InterContinental hotels plus extra benefits on future InterContinental stays.

What should you do to replace your IHG credit card?

I don’t know of any plans to launch a replacement IHG credit card – we’ve not heard anything from IHG or from our regular chats with key issuers. That said, we had a request from a surprising source for our advertising rates a couple of weeks ago so who knows?

There are two other ways to earn IHG One Rewards points from UK credit cards:

HSBC Premier

The two HSBC Premier credit cards let you transfer points into IHG, but this is a terrible deal. HSBC transfer rates into airlines are good value but the two hotel partners, IHG and Wyndham, are a terrible deal.

Here is our review of the free HSBC Premier Mastercard and here is our review of the paid-for HSBC Premier World Elite Mastercard. Both reviews explain how the IHG transfers work.

Remember that you need a HSBC Premier current account to apply for these credit cards, which requires a £75,000 salary or a substantial savings commitment to the bank.

Virgin Atlantic

Not everyone knows that Virgin Points can be transferred into IHG One Rewards. The rate isn’t great (1:1) and indeed is worse than their other deal with Hilton Honors (2:3).

The free Virgin Atlantic Reward Mastercard earns 0.75 Virgin Points (so 0.75 IHG points) per £1 spent – review here. The paid-for Virgin Atlantic Reward+ Mastercard earns 1.5 Virgin Points (so 1.5 IHG ponts) per £1 spent – review here.

Remember that you will get better value using Virgin Points for flights. In fact, any redemption via Virgin Red – even for Greggs sausage rolls – would get you 0.5p per Virgin Point which is better value than transferring to IHG One Rewards.

And if you want a total change ….

If you’re looking for another non-Amex card then Barclaycard is currently offering 50,000 Avios on their Avios Plus Mastercard. There is also an offer of 10,000 Avios on the free Barclaycard Avios card. You can apply here.

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Want to earn more points from credit cards? – April 2024 update

If you are looking to apply for a new credit card, here are our top recommendations based on the current sign-up bonuses.

In February 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.

You qualify for the bonus on these cards even if you have a British Airways American Express card:

You can see our full directory of all UK cards which earn airline or hotel points here. Here are the best of the other deals currently available.

Earning miles and points from small business cards

If you are a sole trader or run a small company, you may also want to check out these offers:

SPECIAL OFFER: Until 12th May 2024, the Capital on Tap Business Rewards Visa card is offering a bonus of 30,000 points, convertible into 30,000 Avios. You must have a Limited Company to apply. Click here to learn more and click here to apply.

For a non-American Express option, we also recommend the Barclaycard Select Cashback card for sole traders and small businesses. It is FREE and you receive 1% cashback on your spending.