Chase and IHG launched a new premium card yesterday (Oct 1): the IHG One Rewards Premier Select. $350 annual fee, sitting above the existing $150 Premier. Here’s what it actually offers and whether the math works.

The card at a glance

• Annual fee: $350
• Welcome offer: 200,000 bonus points after $5,000 spend in 3 months (apply by Nov 18, 2026)
• Earn: up to 28x total points on IHG stays, 6x on dining and travel (including rideshare), 3x on everything else
• $300/yr food & beverage rewards: $75 per quarter, usable on your room bill during an IHG stay — each quarter’s credit must be used in a single stay
• $200/yr airline credit: statement credit on a flight purchase over $250 booked directly with an airline
• $50/yr United TravelBank cash: $25 twice a year
• Anniversary free night: up to 60,000 points, and you can top it off with your own points for pricier properties
• Status: automatic Platinum Elite; Diamond if you spend $25,000 in a year
• 20 Elite Night Credits per year plus 2 more per $5,000 in spend
• 4th reward night free on award stays of 4+ consecutive nights

One notable detail: eligibility for the welcome bonus is separate from other IHG cards. You can hold the $150 Premier and still get this bonus.

The $350 question

Face value of the credits: $300 + $200 + $50 = $550, which covers the fee with room to spare. Realistic value is lower — every credit has strings:

• The $300 F&B credit requires an IHG stay each quarter, used in one stay. Miss a quarter, lose $75.
• The $200 airline credit requires a single $250+ direct airline purchase. Fine if you fly; useless if you don’t.
• The $50 United TravelBank is the easiest of the three.

If you stay at IHG properties quarterly and fly at least once a year, you’ll clear the fee. If not, you’re paying $350 for a card whose credits expire unused.

The family angle: 4th night free

This is the standout benefit for families. Four-night stays are the family trip sweet spot, and getting the fourth night free on points is an automatic 25% discount on every one of them. Combined with the anniversary free night (60k cap, top-off allowed), a family doing two IHG trips a year gets real, tangible value — not credits to chase.

The 200,000-point bonus is also strong: at ~0.5¢ per IHG point, that’s roughly $1,000 in hotel value for $5,000 in spend.

Who should get it — and who shouldn’t

Get it if: you already stay at IHG hotels several times a year, you’ll use the quarterly F&B credits naturally, and you want the 200k bonus before the Nov 18 deadline.

Skip it if: you’re a Hyatt or Marriott loyalist (like me — my hotel setup is Hyatt + Hilton + Marriott, and I’m not adding a fourth ecosystem for credits I’d have to work to use). The card rewards IHG loyalty; it doesn’t create it.

Verdict

Well-designed card, genuinely good launch bonus, and the 4th-night-free benefit is the best family perk in the IHG lineup. But $350 only works if the credits fit your existing travel — don’t buy a lifestyle to justify a credit card. If IHG isn’t already your hotel chain, the 200k bonus isn’t enough reason to switch.