Chase will discontinue the current IHG Rewards credit card and will introduce two new cards, including a Premier offering. The new Chase IHG Premier Credit Card will still offer an annual free night certificate but some early leaks mention that it will be at“eligible” hotels only. That makes it seem like there will be some kind of limitations on these certificates and that might just be the case after some bad news today. One Mile at a Time posted earlier today a notice that was sent to one reader, warning that the IHG Rewards Club Select Credit Card Anniversary Free Nights will soon be capped in value.
Here’s what the notice says:
Update: We’re changing the Anniversary Free Night on your IHG Rewards Club Select Credit Card
Thank you for being a Chase customer. On May 1, 2018, we’re changing the Anniversary Free Night benefit associated with your IHG Rewards Club Select Credit Card.
Here’s what’s changing
Currently, we award this Anniversary Free Night each year after your anniversary date, and it is redeemable at any IHG property. Going forward, Anniversary Free Nights issued after May 1, 2018, will be redeemable at eligible IHG hotels with a redemption value up to and including 40,000 points.
Reward Nights cost anywhere between 10,000 points to 70,000, so this change will put their best properties out of reach. Being able to redeem that Anniversary Free Night at any property, made the card really valuable to hold long term. It will still gives you good value, but not anywhere close to what it is now.
This is a huge devaluation of the Anniversary Free Night for IHG Rewards Club Select Credit Card holders. It also might be a hint at what we might expect for their new IHG Rewards Club Premier Credit Card that is expected to come out soon. That certificate will likely be capped at 40K hotels as well. Everything else still stays the same for the IHG Rewards Club Select Credit Card. I think the card would still be worth holding after this devaluation, because a 40K night is more valuable that the annual fee of $49.
It’s interesting that the website hasn’t been updated to show this limitation. It’s possible that they will honor it for new applicants, but it’s no guarantee.
Do you have the card? Does this change your plans?