Chase and IHG Launch $350 Premier Select Card with 200,000-Point Bonus

Key points

• The new IHG One Rewards Premier Select card carries a $350 annual fee and offers 200,000 bonus points after spending $5,000 in the first three months, an offer valid through November 18, 2026.
• Cardholders receive automatic Platinum elite status, 20 elite night credits annually, and an anniversary free night certificate for stays costing up to 60,000 points.
• The card provides up to $300 in annual food and beverage rewards, issued as $75 vouchers each quarter that must be used during a single eligible hotel stay and expire at the end of the quarter.
• Earning rates include 12 points per dollar on IHG stays (up to 28 total with elite status), 6 points per dollar on dining and travel, and 3 points per dollar on all other purchases.
• Additional benefits include a $200 annual airline statement credit, up to $120 every four years for Global Entry or TSA PreCheck fees, and no foreign transaction fees.

Background

This launch is part of a broader overhaul of the Chase-IHG credit card portfolio announced in early October 2026. The refresh introduced a new premium tier and raised annual fees for existing cards, with changes taking effect for new applicants immediately and for existing cardholders in 2027. The new Premier Select sits at the top of a four-card lineup, which now includes the $150 Premier card, the $200 Business card, and the $0 base card.

How outlets are covering it

The Points Guy emphasizes the card's value for frequent IHG guests, noting that the $300 in food and beverage rewards and 20 elite night credits can offset the $350 annual fee for those who stay at IHG properties regularly. The outlet highlights the flexibility of the $200 airline credit and the potential to reach Diamond Elite status. In contrast, NerdWallet focuses on the mid-tier IHG One Rewards Premier Credit Card, awarding it a rare 5-star rating for its 180,000-point welcome offer and enhanced earning rates, including 5 points per dollar on groceries and gas. NerdWallet highlights the 'fourth night free' benefit and tax waivers on points redemptions, suggesting that the mid-tier card may offer better value for casual travelers compared to the new premium tier.

Why it matters

The launch of the IHG One Rewards Premier Select card signals a shift toward higher-fee, high-reward credit cards in the hotel loyalty space. For frequent travelers, the new card offers significant perks that can justify the annual fee, while the broader portfolio refresh indicates that issuers are increasing fees and altering benefits to drive higher spending and loyalty. The limited-time welcome offer creates urgency for new applicants, but the high annual fee and specific spending requirements may limit its appeal to casual travelers.

What to watch

Existing IHG cardholders will receive details in October 2026 about when their new benefits take effect, with annual fee changes scheduled for 2027. The limited-time welcome offer for the Premier Select card expires on November 18, 2026. Travelers should evaluate whether they can fully utilize the quarterly food and beverage rewards and elite night credits before applying, as the value of the card depends heavily on frequent IHG stays.