IHG Chase Credit Card Changes: Should You Keep the Premier Card at a $150 Annual Fee?
Chase is raising fees, adding credits, and launching a $350 card. Here is the math on whether to keep, downgrade, or cancel.
In this guide 6 sections
Chase is overhauling its IHG credit cards, with new fees taking effect in 2027. The One Rewards Premier Card's annual fee rises from $99 to $150, the business card's from $99 to $200, and a new Premier Select card carries a $350 fee. Keep a card only if you will use its credits and free night; otherwise downgrade.
This explainer covers what changed, the math on the Premier card's new fee, and how to decide what to do before your next annual fee posts. It is written for existing IHG cardholders and anyone weighing a new hotel card. Coinpurse covers how credit actually gets decided and what cards cost, and a fee increase is the moment to run the numbers. This is general information, not personal financial advice.
What Is Changing on the IHG Chase Cards?
Chase is renaming and reshaping its IHG card lineup. The Premier Card gets a higher fee, new credits, and a bigger free night. The business card's fee rises the most. A new Premier Select card sits at the top for $350. The no-fee card gains perks, and Chase says it will notify existing cardmembers about timing.
According to Upgraded Points' breakdown of the changes, the Premier Card's fee goes from $99 to $150 in 2027, and the business card's goes from $99 to $200. The new Premier Select Card has a $350 annual fee and includes automatic Platinum Elite status, 20 elite night credits a year, and up to $300 a year in food and beverage rewards.
The Premier Card gains several perks. Cardholders get up to $100 a year in food and beverage rewards, paid as $25 a quarter, plus a $100 yearly airline statement credit on tickets over $250. The points purchase discount rises from 20% to 30%, and the anniversary free night cap rises to 50,000 points.
The no-fee IHG One Rewards card stays at $0, adds 5 elite night credits a year, and changes how the fourth night free works. Instead of an automatic benefit on a four-night stay, cardholders reportedly earn it after $5,000 in card spending.
Details differ between sources. Cards and Points' summary of the October updates lists some earning rates and thresholds differently from Upgraded Points. Check Chase's notice to you for the figures that apply to your account before you decide.
How Does the New $150 Premier Fee Pencil Out?
The Premier's $150 fee pays off if you will use the $100 food and beverage credit, the $100 airline credit, and the free night. Together, those can exceed the fee, but unused credits expire, and the airline credit is listed for 2026 and 2027 only. Count only benefits you would use anyway.
Here is a simple way to run the math:
- Start with the $150 annual fee.
- Subtract the food and beverage credit only if you spend at IHG properties on dining that would otherwise cost you money.
- Subtract the airline credit only if you buy a $250 or higher ticket directly from an airline.
- Add the cash value of the free night, using a conservative price per point.
- Compare the result to what a no-fee card would earn on the same spending.
The free night is the largest piece. Upgraded Points values IHG points at 0.5 cents each in its comparison, which puts a 50,000-point free night near $250. That is an estimate, and award prices vary by hotel and date. A night at a high-priced property is worth more than one at a budget stop.
Credits are worth less than they look. A $25 quarterly credit expires if unused, so the value depends on whether you actually eat at participating IHG properties. A $100 airline credit requires a ticket over $250 booked directly with the airline.
The table below shows a sample calculation. These numbers are our illustration, not a promise, and your results will differ.
| Item | Value if fully used | Value if half used |
|---|---|---|
| Annual fee | -$150 | -$150 |
| Food and beverage credit | +$100 | +$50 |
| Airline credit (through 2027) | +$100 | +$50 |
| Free night at 0.5 cents per point | +$250 | +$125 |
| Net before everyday earnings | +$300 | +$75 |
Even a half-used card can come out ahead on paper. But the calculation assumes you would stay at an IHG hotel anyway. If the free night pushes you to book a trip you would not take, it is not a saving.
What Happens to Elite Status?
New and existing Premier cardholders lose automatic Platinum status, which drops to Gold. Upgraded Points reports existing cardmembers keep Platinum through December 31, 2027. After that, Platinum requires $15,000 of spending in a year, and Diamond requires $40,000. The business card keeps automatic Platinum.
Status matters most for frequent travelers. Platinum often brings room upgrades and late checkout, while Gold offers fewer perks. If you rely on those perks, the deadline of December 31, 2027 is the date to circle.
For many cardholders, elite night credits matter more. The Premier now offers 15 elite night credits a year, plus 2 for every $5,000 spent. Those credits can move you toward higher tiers faster, but only if you travel enough to use them.
Spending thresholds are another place where sources differ. Upgraded Points describes a $15,000 threshold that unlocks 15,000 bonus points and 5 elite night credits, while Cards and Points describes a similar structure with slightly different details. Read your cardmember notice carefully.
Is the New $350 Premier Select Card Worth It?
The Premier Select card makes sense only for people who stay at IHG hotels often and will use its $300 in annual food and beverage rewards. At $350, it needs about $350 of real value before it breaks even. Most casual travelers will do better with the Premier or the no-fee card.
Upgraded Points lists the Select card's features: automatic Platinum Elite status, 20 elite night credits a year, up to $300 in food and beverage rewards at $75 a quarter, and an anniversary free night. The credits do not roll over, so a missed quarter is a lost $75.
The welcome offer is large. The same article lists 200,000 points after $5,000 in purchases within three months, available through November 18, 2026. At the conservative 0.5 cents per point used in that comparison, the bonus is worth about $1,000, though point values vary.
Compare it with the Premier honestly. The Premier costs $200 less, still delivers the free night and a $100 food and beverage credit, and keeps the airline credit. The Select adds Platinum status and a larger credit pool, which matter mainly to road warriors.
The business card sits in between. Its fee rises to $200 and it keeps automatic Platinum status, plus a $100 Expensify statement credit. That credit is useful only if your business already uses the software, so do not count it unless you do.
A fair test is to ask what you would do without the card. If you would book IHG hotels anyway, the perks lower your costs. If the card is the reason you book IHG, you are paying for a habit, not saving money.
Should You Keep, Downgrade, or Cancel?
Keep the Premier if you stay at IHG hotels at least a few nights a year, and will use the credits. Downgrade to the no-fee card if you travel rarely. Cancel only after you redeem points and free nights. Never cancel before the fee posts without checking your options.
Use these rules to decide:
- Keep if you will use the free night and at least one credit.
- Downgrade if you stay one or two nights a year.
- Cancel if you have no plans to stay at IHG hotels.
- Consider the Select card only if you will use its $300 in food and beverage rewards.
Before you cancel, redeem points and use certificates. A product change to the no-fee card usually keeps your account open, which protects your credit history. Coinpurse's guide to seven signs a rewards card's annual fee is not worth it covers the warning signs.
Welcome offers are generous, which tempts people to apply. Upgraded Points lists offers of up to 200,000 points on the new Select card, through November 18, 2026. Chasing a bonus makes sense only if you can meet the spending requirement without buying things you do not need. Coinpurse's piece on maximizing credit card rewards without overspending explains how to avoid that trap.
It is also worth asking whether hotel points are the right currency. Coinpurse's comparison of cash back, points, and miles shows when simple cash back beats a brand-specific card, and the overall question of whether credit card rewards are worth it applies here too.
Conclusion
The IHG card changes raise fees but add credits and a larger free night, and the math favors people who actually stay at IHG hotels. Check Chase's notice to you, run the numbers with conservative point values, and downgrade rather than cancel if the card no longer fits. Coinpurse will keep tracking card changes as issuers announce them.
