IHG and Chase Overhaul Credit Card Portfolio with New Premium Tier and Fee Increases

Key points

• The new IHG One Rewards Premier Select Credit Card carries a $350 annual fee and offers up to $300 in annual food and beverage rewards, a 60,000-point anniversary free night, and 20 elite night credits each year.
• The IHG One Rewards Premier Credit Card annual fee rises from $99 to $150 in 2027, adding a $100 airline credit and $100 in food and beverage rewards but dropping automatic Platinum status to Gold.
• The IHG One Rewards Business Credit Card annual fee increases from $99 to $200 in 2027, adding a $100 Expensify credit and maintaining automatic Platinum status.
• The no-annual-fee IHG One Rewards Credit Card now requires $5,000 in annual spending to access the fourth-night-free benefit, previously a standard perk.
• Welcome offers for new applicants include 200,000 points for the Premier Select, 190,000 for the Business card, 180,000 for the Premier card, and 125,000 for the base card, valid through November 18, 2026.

Background

This overhaul follows a broader industry trend of increasing annual fees while adding more complex perks to offset costs. Previous coverage noted that Chase and IHG had already begun refreshing their portfolio, with the new Premier Select card launching alongside higher fees for existing tiers. The changes align with similar moves by other hotel chains, such as Hyatt, which is expected to overhaul its Chase-issued cards soon. Additionally, Chase has been expanding its travel card offerings, including removing foreign transaction fees on the Freedom Flex card, indicating a strategic push into the travel rewards market.

How outlets are covering it

One Mile at a Time emphasizes the mixed nature of the changes, noting that while fees increase, the new perks like airline credits and higher free-night caps can offset costs for active users. Upgraded Points highlights the loss of automatic Platinum status on the Premier card as a significant downside, cushioned by a grace period and spending thresholds. The Points Guy focuses on the new Premier Select card, arguing it is a strong option for frequent IHG guests who can maximize the food and beverage credits and elite night credits. All sources agree that the changes are a mixed bag, with some cards gaining value and others losing key benefits.

Why it matters

The overhaul affects existing cardholders by increasing costs and altering benefits, requiring them to evaluate whether the new perks justify the higher fees. For new applicants, the elevated welcome offers present an opportunity to earn significant points, but the complexity of the new benefits may require more effort to maximize. The changes also reflect the competitive landscape in the travel rewards market, where issuers are pushing for higher fees and more specific perks to differentiate their products.

What to watch

Existing cardholders will receive notifications in October 2026 regarding the timing of their specific changes, with new annual fees taking effect in 2027. New applicants can take advantage of the welcome offers through November 18, 2026. Future updates may include further adjustments to the portfolio, potentially affecting other hotel chains like Hyatt, as the industry continues to evolve.