Chase Added a $350 IHG Card & Raised the Fee on the One You Already Have
Chase launched the IHG One Rewards Premier Select Credit Card on October 1, 2026. It carries a $350 annual fee and a 200,000-point welcome offer after $5,000 of spending in three months. The three existing IHG cards were refreshed on the same day, and two of them get higher annual fees in 2027.
The short version
IHG One Rewards Premier Select Credit Card: $350 a year, 200,000 points after $5,000 in 3 months, offer ends November 18, 2026
IHG One Rewards Premier Credit Card: annual fee rises from $99 to $150 in 2027, anniversary free night cap rises from 40,000 to 50,000 points
IHG One Rewards Business Credit Card: annual fee rises from $99 to $200 in 2027, free night cap also rises to 50,000 points
The no-fee IHG One Rewards Credit Card stays at $0 and adds 5 elite night credits a year
Premier cardholders lose automatic Platinum Elite status and get automatic Gold Elite instead
What does the IHG One Rewards Premier Select Credit Card include?
The IHG One Rewards Premier Select Credit Card charges $350 a year and earns 12 points per dollar at IHG hotels, 6 points per dollar on dining and other travel, and 3 points per dollar on everything else. It grants automatic Platinum Elite status and 20 elite night credits a year. The anniversary free night has a 60,000-point cap. The welcome offer is 200,000 points after $5,000 of spending in the first three months, plus 10,000 more points for adding an authorized user in that same window.
Credits are where the fee goes. Cardholders get up to $300 a year in IHG food and beverage rewards, handed out as four $75 quarterly vouchers. A $200 annual airline statement credit comes with it, along with up to $50 in United TravelBank cash and up to $120 for Global Entry or TSA PreCheck every four years.
Is the $350 annual fee worth it?
The IHG One Rewards Premier Select Credit Card asks $350 and hands back $300 in food and beverage vouchers plus a $200 airline credit. On paper that is $500 against a $350 fee. The vouchers are the catch. Each $75 voucher has to be spent during a single IHG stay, and it expires at the end of its quarter. Four quarters means four separate IHG stays in one year to collect all $300.
Stay at IHG hotels four or more times a year and the math works. The 60,000-point free night is a real upgrade over the Premier's 50,000. Stay once or twice and you are paying $350 for one free night and an airline credit, which the $150 Premier card delivers for less.
What changed on the card you already have?
The IHG One Rewards Premier Credit Card keeps most of its shape and gets more expensive. The annual fee moves from $99 to $150, the anniversary free night cap rises from 40,000 to 50,000 points, and a $25 quarterly food and beverage reward arrives, worth $100 a year. Elite night credits go to 15. The loss is status: automatic Platinum Elite becomes automatic Gold Elite.
That status change stings more than the $51 does. Platinum Elite brings room upgrades when available, plus a welcome amenity. Gold brings early check-in and late check-out requests, both subject to availability. Trading Platinum for $100 in vouchers you have to remember four separate times is a downgrade dressed as a refresh.
Business owners take the bigger hit. The IHG One Rewards Business Credit Card moves from $99 to $200, keeps automatic Platinum Elite, and gains the same 50,000-point free night cap and $25 quarterly rewards. Chase says existing cardholders will be notified in October "with details about the new and enhanced benefits available to them and the effective date for each update." Annual fees are adjusted in 2027, so nobody pays the new price this year.
Should you apply before November 18?
Every welcome offer in the refreshed IHG lineup expires November 18, 2026. The IHG One Rewards Premier Select Credit Card sits at 200,000 points after $5,000, the Premier at 180,000 after $3,000, the Business at 190,000 after $5,000, and the no-fee card at 125,000 after $2,000. IHG points run roughly 0.6 to 0.7 cents each in practice, putting 200,000 points near $1,200 to $1,400 of hotel value.
Chase's 5/24 rule applies to all four. Open five or more personal cards in any 24-month window and Chase declines you, no matter how good the offer looks. Our best travel credit cards guide covers where IHG cards sit against flexible-point options, and if you are weighing the older Premier offers, we compared the five free nights offer against the flat point bonus last month.
What this means for you
Four IHG stays a year or more, and the Premier Select earns its $350. Fewer, and the $150 Premier is the better card even after its increase. Current Premier holders should wait for the October notice before deciding. The new fee does not land until 2027, and you get a full year of the larger free night first.
FAQ
When does the IHG One Rewards Premier Select welcome offer end?
The IHG One Rewards Premier Select Credit Card welcome offer of 200,000 points ends November 18, 2026. You need $5,000 of spending in the first three months to earn it.
Do existing IHG cardholders pay the new annual fee right away?
No. Chase states that annual fees will be adjusted in 2027, and existing cardmembers get a notice in October 2026 with the effective date for each change.
Does the IHG One Rewards Premier Credit Card still come with Platinum Elite status?
No. The refreshed IHG One Rewards Premier Credit Card grants automatic Gold Elite status. Automatic Platinum Elite now belongs to the Premier Select and the Business card.
How do the quarterly food and beverage rewards work?
The IHG One Rewards Premier Select Credit Card gives four $75 vouchers a year, one per quarter. Each voucher has to be used during a single IHG stay and expires at the end of its quarter, so unused value does not roll forward.
Can you top off the anniversary free night?
Yes. The anniversary free night has a point cap, 60,000 on the Premier Select and 50,000 on the Premier and Business cards, and you add your own IHG points to book a more expensive property.
The bottom line
Chase built a card for people who sleep at Holiday Inns on purpose, several times a year, and raised the price on everyone else. Count your IHG nights from last year. That number picks your card.
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