Last updated: October 3, 2026
Chase and IHG launched a new top-tier hotel card on October 1, 2026: the IHG One Rewards Premier Select Credit Card. It costs $350 a year, the fee is not waived in year one, and it launched with a 200,000-point welcome offer.
At the same time, Chase reshuffled the rest of the IHG lineup. The Premier gets more credits and a higher fee, loses automatic Platinum status, and the no-fee card picks up elite night credits. If you hold any IHG card, this affects you.
My take up front: the bonus is excellent, the card is a coupon book, and most people are better off with the regular Premier. Here’s why.
The Premier Select at a Glance
| Feature | IHG Premier Select |
|---|---|
| Annual fee | $350 (not waived the first year) |
| Welcome offer | 200,000 points after $5,000 in purchases in the first 3 months (through Nov 18, 2026) |
| Earning | Up to 28x total at IHG hotels, 6x dining and other travel (including rideshare), 3x everything else |
| Food & beverage | Up to $300 a year at IHG hotels, issued as $75 per quarter |
| Airline credit | Up to $200 a year on qualifying airline purchases |
| United TravelBank | Up to $50 a year ($25 twice a year) |
| Status | Automatic Platinum Elite |
| Elite night credits | 20 per calendar year, plus 2 more per $5,000 spent |
| Anniversary free night | Up to 60,000 points, and you can top it up with your own points |
| Award stays | Fourth night free on four-night award stays |
What the Bonus Is Worth
IHG points are a low-value currency. Most valuations put them around half a cent each, and that’s the estimate I’ll use. At 0.5 cents, 200,000 points is about $1,000. Minus the $350 fee, you’re up roughly $650 in year one before touching a single credit.
That’s a strong first year. IHG’s fourth-night-free benefit makes it stronger: on a four-night award stay, you pay points for three. If you book 25,000-point nights, 200,000 points covers around 10 nights with the fourth-night-free benefit working for you.
What the Credits Are Really Worth
This is where the $350 fee gets shaky. Every credit has a catch.
$300 food and beverage. It’s $75 per quarter, it only works at IHG hotels, and the $75 must be used within a single stay. If you stay at an IHG hotel once a year, you get $75 of this credit, not $300. To get the full $300, you need an IHG stay every quarter.
$200 airline credit. This is the easiest credit on the card, but it’s still a “qualifying purchase” credit. Read the terms for the minimum purchase and which charges count before you count it as cash.
$50 United TravelBank. Only useful if you fly United, and it arrives as two $25 chunks.
Anniversary free night up to 60,000 points. This is the card’s best ongoing perk. A 60,000-point IHG night is often a $250 to $400 room in a major city, and you can add your own points to stretch it to a pricier hotel. Starting in year two, it alone can nearly cover the fee if you use it well.
Here’s how I’d value the card each year after the bonus, by type of traveler:
| Traveler | F&B used | Airline + TravelBank | Free night | Estimated annual value | vs $350 fee |
|---|---|---|---|---|---|
| 1 IHG stay a year, flies another airline | $75 | $200 | $250 | $525 | +$175 |
| 2 IHG stays a year, flies United | $150 | $250 | $300 | $700 | +$350 |
| IHG every quarter, flies United | $300 | $250 | $300 | $850 | +$500 |
| Rarely stays at IHG | $0 | $200 | $0 (unused) | $200 | −$150 |
These are my estimates, not guarantees. The free night value depends on where you use it, and I’m valuing credits at face value only when they’re easy to use.
Premier Select vs Premier: The Real Decision
Most people should compare the Premier Select to the regular IHG One Rewards Premier, which is running its own elevated offer.
| IHG Premier | IHG Premier Select | |
|---|---|---|
| Annual fee | $99, rising to $150 in 2027 | $350 |
| Welcome offer (through Nov 18, 2026) | 180,000 after $3,000 in 3 months | 200,000 after $5,000 in 3 months |
| Food & beverage | Up to $100 a year | Up to $300 a year |
| Airline credit | $100 a year | $200 a year |
| Free night cap | 50,000 points | 60,000 points |
| Automatic status | Gold Elite (existing cardholders keep Platinum through Dec 31, 2027) | Platinum Elite |
| Elite night credits | 15 a year | 20 a year |
Look at the bonuses side by side. The Premier gives you 180,000 points for $3,000 in spend. The Premier Select gives 200,000 for $5,000. The extra 20,000 points is worth about $100 at half a cent, and it costs you $2,000 more in required spend plus a much higher fee.
The Premier’s credits are smaller, but you give up much less if you leave some unused. The $100 airline credit is easy, and the F&B credit is only $25 a quarter, so missing a quarter costs you little. At $150 from 2027, the Premier is still a low-friction keeper for anyone who uses the 50,000-point free night.
Who Should Get the Premier Select
- You stay at IHG hotels every quarter. You’ll actually use the full $300 food and beverage credit.
- You want Platinum Elite without earning it. The Premier Select is now the only personal IHG card with automatic Platinum. If you’re an existing Premier holder about to lose Platinum after 2027, this is the card that keeps it.
- You’re chasing Diamond. 20 elite night credits a year plus 2 per $5,000 spent is a real head start.
Who Should Skip It
- You stay at IHG once or twice a year. Get the Premier instead. Same 4th-night-free benefit, a bonus nearly as big, a third of the fee.
- You’re near Chase’s 5⁄24 limit. Every IHG card counts as a Chase application. A Sapphire or Ink card is a better use of a 5⁄24 slot than any hotel card for most people. See our Chase 5⁄24 explainer.
- You’re a Hyatt or Hilton loyalist. Don’t let a big number pull you into a program you don’t use. 200,000 IHG points sound like more than they are.
Existing IHG Cardholders: What Changes for You
- IHG Premier: fee goes from $99 to $150 in 2027. You gain the $100 F&B credit, $100 airline credit, $50 TravelBank and 15 elite night credits, and your free night cap rises to 50,000 points. You lose automatic Platinum, but keep it through December 31, 2027.
- IHG Traveler becomes the IHG One Rewards Credit Card, still $0, now with 5 elite night credits a year.
- IHG Business goes to a $200 fee with new F&B, airline and Expensify credits and keeps automatic Platinum.
Chase says existing cardholders will be notified in October and that fee changes take effect in 2027.
The Verdict
The 200,000-point offer makes the Premier Select a good first-year card for anyone who will put $5,000 on it and stay at IHG hotels. After that, it only beats the Premier if you’re at an IHG hotel every quarter or you really want Platinum status.
For most travelers, the smarter move is the IHG Premier with 180,000 points for $3,000 of spend. You get 90% of the bonus for less than half the fee. Whichever you choose, apply before November 18, 2026, when the elevated offers end.
Not sure a hotel card belongs in your wallet at all? Run your travel spend through the MaxPoints optimizer and see what it picks.
Sources: Chase’s IHG announcement, One Mile at a Time and Upgraded Points. The 0.5 cent IHG point value and the per-traveler values are estimates. Offers and terms change; check Chase’s application page before applying.
