Update: 100k offer no longer available. This offer is still terrible though.
The Offer
No direct link, available when doing a dummy booking
- Chase IHG Premier card is offering the following sign up bonus:
- 50,000 points after $2,000 in spend within the first three months
- $150 statement credit after first purchase
Card Details
- Annual fee of $89 (not waived first year)
- Sign up bonus of 100,000 points after $3,000 in spend within the first three months
- 5,000 bonus points after you add an authorized user and they make their first purchase
- Card earns at the following rates:
- 10x points per $1 spent on IHG properties
- 2x points per $1 spent on gas stations, grocery stores and restaurants
- 1x points per $1 spent on all other purchases
- Free night certificate on card anniversary, this is limited to properties that cost 40,000 or fewer points
- Automatic Platinum elite status
- Fourth Reward Night Free on any stay of 4 or more nights
- 20% discount when purchasing points
- Global Entry or TSA PreCheck fee credit
- 10,000 bonus points when you spend $20,000 or more and make one additional purchase each account anniversary year
- This product is not available to either (i) current cardmembers of this credit card, or (ii) previous cardmembers of this credit card who received a new cardmember bonus for this credit card within the last 24 months. This means if you have the old IHG card, you’re still eligible to get this bonus/card.
Our Verdict
It’s still possible to get 100,000 points + $50 statement credit. This new offer is basically trading 50,000 points for $100. If you think that’s a good deal, then I don’t know why you’d be interested in this card in the first place. This new offer is an easy pass.
Hat tip to MtM
I received a similar offer just now when booking a hotel with points, but at least in this offer the annual fee for the 1st year is waived.
https://creditcards.chase.com/a1/ihg/premierres50k150afw?CELL=6TH2
There’s no disputing your comparison of value. But there’s a small subset of us who will not pay an annual fee unless absolutely necessary. Therefore, we look at the overall benefits based on not paying a fee. And I would suggest that if you carefully examine the value from all the perks this card offers it’s not a bad deal (from that perspective).
uh, you get the same perks regardless of the offer you signup for and the annual fee is the same for both offers. why not go for the better signup offer? the only thing to look at to justify the annual fee on this card is whether you would be willing to pay $89/night for a hotel room.
It’s on an individual case-by-case basis. Some of us already have ample IHG point balances with better status at Hilton and Marriott. This card keeps us in the game and active with some nice perks, decent status at IHG and no out of pocket cost. I don’t consider the additional points enough of an incentive to pay the fee. You might view it differently. But I have never paid for hotel points via an annual fee and never will unless it is an incredible value, which this is not. But that’s just me. Pay all the fees you want, the banks will love you for it!
its fine not to want to pay an annual fee, in which case neither of these options is for you. But this option values points at .2 cents each, which is terrible.
I don’t really know what you’re talking about…”This card keeps us in the game and active with some nice perks, decent status at IHG and no out of pocket cost.”
This card has $89 annual fee with either of the signup bonuses that are mentioned in this post. The point of this post is point readers who are interested in this card to go for the 100k + $50. Your 2 comments don’t really make any sense to me.
I’d consider the annual fee in the first year as a good trade-off for the signup bonus and then in the following years, 1 ‘free’ night for $89 also seems decent. I personally have the Premier card and Select card and get 2 ‘free’ nights for $138/year. Not bad.
If the bank charges $89 for a card but gives me $150 after the first purchase they are, in effect, not charging a fee and I net $61, I’ll take it. If I wanted to buy points or had an immediate need for lots of IHG points I’d probably take the other offer. That’s not my situation.
There is a reason this new offer exists. And it’s not to take advantage of people who can’t do the math. It’s to incentivize a small group of consumers like myself who are interested in the brand, ie IHG but do not want to pay a fee. There used to be no first year fee at all for the older version of this card. And I received 80K points more than once. But I never would have paid for them.
You have now been conditioned to think that paying a fee is worth earning more points. Then pay it and take them. I’ll get enough benefit from the other perks to make the card at no net fee worth my while.
Yes but if you value the points are 0.2¢ each why are you even doing this promotion? It’s basically $61 + $100 in points (your valuation). Doesn’t make any sense
$161 SUB is really low, even for no AF Cards.
Also, consider that even without renewing the card you still keep the points and can use them when there are no good rates at Hilton/Mariott in an area you travel.
Don’t forget Points Break as well as the 4th night free perk.
I just booked a 20k property a night for 4 Nights only paid 30k because of Points Break and 4th Night Free 😉
Yeah that was my point
Update March 2020: There’s a dummy booking offer for the IHG Premier, 50,000 + $150 AND the annual fee waived 1st year..That’s a good deal, but I can’t get the page to load…
Isn’t IHG point only worth around 0.6 cent/point ?
Trading 50k points for $100 means you get 2 cents/point. Why is this not good deal ?
Your math appears to be slightly off. Trading 50k points for $100 is .2 cents per point. To get 2 cents per point, they would have to be offering a statement credit of $1000.
50k IHG points is worth approximately $300.
Can you show the math for that one?
Yes. But $100 / 50,000 = $.002.
.2 cents, not 2 cents.
So about a third less value than the 6 CPP you can usually get.
50k * 0.6 cent/point is $300. 50k for $100 means 0.2 cents/point.
that’d be 0.2 cents or $0.002 ($100/50,000)
Because most ihg card holders use points to book rooms throughout europe, and 50k points can get you ALOT more than the lousy $100.
That makes sense now. I guess there is no way Chase is that generous. So this offer is really terrible then.
what if you do it and try to match to the 100k?
Give it a go and let us know, I doubt it will work
I do not think I would call it terrible, not so hot, maybe.
well, 50K points even at a conservative evaluation of .5 cents per point would be worth $250 versus $100 extra cash, which is pretty terrible. If you value cash more than points, use the hard pull on a card with a more cash-like bonus.
I have the old IHG and got the Premier and also got the Traveler card. 60K points for $29 a/f. 5K bonus for AU. Also has the 4th night freebie but I’ll probably cancel it after getting the points and keep the Premier and old card for the annual free night.
I’d understand 80k + $150 to rival the 100k + $50 But 50k + $150 isn’t good at all.