There’s a new IHG credit card: The Brand New IHG One Rewards Premier Select Credit Card, carrying a $350 annual fee alongside a limited-time launch offer of 200,000 bonus points after spending $5,000 on purchases in the first three months from account opening.

This card is likely best for IHG Loyalists chasing Diamond status, but there’s definitely a lot to unpack here.

IHG Premier Select benefits at a glance

This is not an exhaustive list of benefits, but should give a rough sense of how the card is structured:

While the automatic Platinum Elite status may not seem like much, the big other news is that the IHG One Rewards Premier Credit Card no longer carries automatic Platinum Elite status; it now only has automatic Gold Elite status. Since IHG is making Platinum status harder to get, this card’s incidentally goes up.

Notably, you can spend $25,000 in a calendar year to earn Diamond Elite status.

How many points does the IHG Premier Select earn?

The card offers:

• 12x points on stays at IHG Hotels & Resorts.

• 6x points on dining and all other travel, including rideshare.

• 3x points on all other purchases.

Chase markets the card as earning “up to 28x points” at IHG Hotels & Resorts. The math there breaks down as follows:

• 12x points per $1 spent on IHG Hotels & Resorts

• 10x base points per $1 as an IHG One Rewards member

• Platinum Elite’s 60% bonus on base points (automatic status included with the card) = 6x more points

We value IHG points at roughly 0.5 cents per point, so for eligible IHG stays, you’re earning potentially 14% cashback on your stays.

Our take on the new IHG Premier Select

The 200,000-point bonus is the headline, but the recurring benefits are what we’d focus on when deciding whether to keep the card, especially considering the $350 annual fee.

While there are some nice headline benefits like the new up to $300 in Food & Beverage Rewards, its immensely limiting that it can only be used at IHG properties. When I travel, I don’t usually buy a lot of food from the hotel itself, so it’s hard to value that at anywhere near face value.

One of the newest & most unique benefits here is the new 20 annual elite night credits. That certainly helps you get near Diamond Elite status, but you still need to earn 50 additional qualifying nights to get anywhere close.

It’s clear IHG took note of the Hyatt playbook by including an equivalent spend $5,000/earn 2 Elite Night Credits approach. The problem in my head here is that IHG status as a whole is no where near as good as Hyatt’s, so the opportunity cost of spend is much higher comparatively speaking.

I think if you’re an absolute IHG loyalist, you’re going to love this card since it’ll help accelerate your progress towards IHG’s top tier status. However, I don’t really see this appealing to the masses.

Frequently Asked Questions (FAQs)

Is the IHG Premier Select the same as the old $49 IHG Select card?

No; confusingly similar names, but these are different cards. The older IHG® Rewards Club Select Credit Card carries a $49 annual fee and is no longer available to new applicants. Its benefits include an Anniversary Free Night capped at 40,000 points and Platinum Elite status.

The new IHG One Rewards Premier Select Credit Card has a $350 annual fee, with benefits including up to $300 in annual Food & Beverage Rewards and 20 annual Elite Night Credits.

We don’t yet know whether anything will change for existing $49 Select cardholders, including whether Chase will offer an upgrade or change their benefits. The similar name alone doesn’t mean your old card is being replaced

Which IHG credit cards still come with automatic Platinum Elite status?

The new IHG Premier Select and refreshed IHG One Rewards Premier Business Credit Card now both include automatic Platinum Elite status. The refreshed personal IHG One Rewards Premier Credit Card drops to automatic Gold Elite status.

How does the IHG Premier Select annual fee compare with other IHG cards?

The Premier Select costs $350 annually, putting it well above the existing & available IHG cards.

How much is the IHG Premier Select’s 200,000-point bonus worth?

At nextcard’s valuation of 0.5 cents per IHG point, the welcome bonus is worth roughly $1,000 toward hotel stays. For perspective, the refreshed Premier’s 180,000-point offer is worth approximately $900, while the Business card’s 190,000-point offer is worth approximately $950, using the same valuation.

Just keep in mind qualifying spending requirements.