Loyalists of the IHG, listen up! Chase and IHG have just released a brand new high-end credit card for those who spend real time in IHG hotels. The IHG One Rewards Premier Select Credit Card has a $350 annual fee, a massive welcome bonus and enough freebies included, once you add it up, it doesn't seem like much, does it?

The new card is the one that's drawing the attention, but the rest of their co-branded lineup is also being restructured by both companies, perhaps on a similar track as the new card. What it offers, the value when it's considered and who should take it seriously.

This is a New Price Tier for Hotel Cards

In recent years, card issuers have been taking the middle ground. There are easygoing cards with fees for about $100 on one side. The other side of the coin are the top-of-the-range cards for $600 and above. They're joined by other rewards cards, such as the Atmos Rewards Summit Visa Infinite and the Citi AAdvantage Globe Mastercard, in the $300 to $400 range, with the IHG Premier Select card in the middle.For many travelers, that middle option is a good answer. There's value without luxury-card costs, and the advantages are so useful that you can take advantage of it without reshaping your life.

The Card includes the following:

• Confirmed dining up to $75 a quarter at IHG hotels, as $300 per year
• Airline credit of $200 a year for $250 or more flights until Dec. 31, 2027
• A yearly $50 in travel-related expenses are covered by United TravelBank Cash.
• The free night is offered at hotels up to 60,000 points on the 1st day of the year.
• No matter which, you'll earn a Diamond status at $25,000 spend per year and automatic Platinum status with Elite status.
• 1nite/credit for elite (20 annually + 2 for $5000 in spending).
• One night free for every four nights in a row, on four nights in a row.

How the Value Adds Up

The great news is that it's not necessary to utilize all of the benefits to profit. The annual fee could be paid with the airline credit and free night certificate alone, and everything else is a bonus.

Take the airline credit first. It's similar to cash for most travelers, as flights are a cost you would likely have anyway. The only drawback is the expiry date. It is only guaranteed till the end of 2027. But it doesn't vanish then, and such benefits are likely to be extended. And if it doesn't, you can always reevaluate and cancel the card.

Next, the free night. A certificate worth up to hotels of 60,000 points is quite a step up from the hotel credit card that many lower level hotel cards give. It's estimated to be valued at $250 to $300, making the single perk almost worth the fee itself.

Where habits are most important is the dining credits. When eating in hotel restaurants, ordering in drinks from the bar or room service, the quarterly credits will be fast consumed. If you're not going for a big breakfast at the hotel, they'll be less dazzling, so don't count them as "free money" if you're not going for a big breakfast at the hotel.

There's status, which could be the hidden factor here. Platinum is free, and Diamond is available for those who spend a lot. This is especially important at this time as some of IHG's other cards are also having their status benefits cut. Keeping those benefits is very advantageous having a card.

Earning Rates

This is a fast card that accumulates points:

• The 12x refers to the amount of points that can be earned on IHG purchases.
• Overnight accommodations, all other travel as well as 6x points earned towards dining.
• 3x points on all other items.
• With those numbers in mind, it's best to stay at IHG properties, but the 6x category is flexible enough that an ordinary day's eating and traveling earns good points as well.
• The Welcome Offer.

This is the grabber headline. For a brief period of time, new users will receive 200,000 bonus points after spending $5,000 during the first three months. Their offer is accepted until November 18, 2026, so it is not a forever window.

This is an info that is often forgotten, but extremely helpful. Whether or not you already have an IHG credit card will NOT impact your eligibility for this card or for the bonus. Regardless if it's personal or business. Today, you can still take advantage of this welcome offer when you use any of the other IHG cards. That is unusual and even those who consider themselves “done” with IHG will likely give this card a second glance.

The first year is the best year to be in school, so why?Why is the first year the best year to be in school?

This card really is at its best during the first year. You may be able to redeem the bonus twice before your second annual fee even arrives due to the timing of the benefits. That's a great beginning, and helps make the card more affordable while you're deciding whether it's a worthwhile purchase in the long-term.

Think about a sketch of year 1. You get a six-figure points bonus, free night certificate, some dining points during your stay, and at least one airline credit. Despite conservative estimates, you can easily emerge in overall profit on the fee.

Who Should Apply

This card would be best for travelers who stay at IHG hotels a few times annually. The IHG credits and status will be most useful to the business travellers, frequent road-trippers and families that rely on the IHG brand. If you stay in hotels only once in a blue moon, a simpler card with the lower fee may be more appropriate.

Additionally, you'll need to feel at ease being approved for Chase cards because this is a product of Chase. And you should be prepared to meet the $5,000 spending threshold in three months without spending more than you have to in order to earn a bonus. If you have a major purchase or several planned expenses scheduled this is a good time to apply.

The Bottom Line

The IHG One Rewards Premier Select Credit Card costs $350 a year, but with these highly generous benefits: food and beverage credits, airline credits, the valuable free night certificate and automatic Platinum status. Add the 200,000 point welcome bonus, and it's a strong case for making the application.

The value of this premium card is like most premium cards, it depends on the habits you have. However, if you have the nerve to do what this card prescribes, it can pay for itself several times over! Don't apply before you see the terms on Chase's website, and schedule your application time around the Nov. 18 deadline.