Chase's New IHG Premier Select Card: A $350 Annual Fee That Might Actually Pay for Itself

Chase and IHG have teamed up on a new premium card called the IHG One Rewards Premier Select, and it comes with a hefty $350 annual fee. But before you dismiss it, the card throws in enough credits and perks that you might be able to offset most—or even all—of that fee if you play your cards right. The headline attraction is a 200,000-point sign-up bonus, which is nothing to sneeze at. Let's break down what you're actually getting for that annual fee, and whether it makes sense for your wallet.

What You Get for That $350 Annual Fee

At first glance, a $350 annual fee might make you wince. But Chase and IHG have loaded this card with credits that can quickly add up. The most straightforward is the $200 airline statement credit: spend at least $250 on flights booked directly with an airline each calendar year, and you'll get $200 back. That alone covers more than half the fee.

Then there's the annual free night certificate, good at IHG properties costing up to 60,000 points per night. Depending on where you stay, that could easily be worth $200 or more. And you'll also get $300 in food and beverage credits at IHG hotels, doled out as $75 per quarter. If you stay at IHG hotels regularly, that's real money you'd otherwise spend on meals.

Stack those three benefits—the airline credit, the free night, and the dining credits—and you're already looking at well over $350 in value. That's before you factor in the sign-up bonus, which is the real star here.

The 200,000-Point Sign-Up Bonus: What's It Worth?

The 200,000-point bonus after spending $5,000 in the first three months is the biggest reason to consider this card. IHG points aren't the most valuable currency out there, but they can still get you some solid redemptions. At the very least, you're looking at several free nights at mid-tier properties.

And if you add an authorized user within the first three months, you'll snag another 10,000 points. That's a nice little extra for a simple step. Just remember, the bonus offer is only valid until November 18, 2026, so you'll need to act before then if you want in.

Earning Points and Elite Perks

Once you're past the sign-up bonus, the card keeps earning at a decent clip. You'll get 12x points on IHG purchases, 6x on dining and all other travel (including rideshare), and 3x on everything else. That 6x on dining and travel is particularly strong compared to many other travel cards.

The card also comes with automatic Platinum Elite status, which gets you perks like room upgrades and bonus points on stays. Plus, you'll receive 20 elite night credits at account opening and at the start of each calendar year. That's a big head start toward higher status tiers. You can earn more elite nights through spending: 2 for every $5,000 you put on the card, and an extra 5 after you hit $15,000 in a calendar year. There's also a 20,000-point bonus for spending $15,000 in a calendar year, and a free night certificate if you spend $40,000.

Other Perks That Add Up

Beyond the big-ticket items, there are several smaller benefits that can make the card more valuable. You'll get up to $120 every four years for Global Entry, TSA PreCheck, or NEXUS application fees. There's also $50 in United Airlines TravelBank cash each year, split into two $25 deposits. And if you ever buy IHG points, you'll get a 30% discount.

The card also includes a complimentary one-year DashPass membership from DoorDash, worth about $120. Plus, you can get up to $10 off monthly on DoorDash orders for groceries and essentials through the end of 2027, as long as you enroll in the Chase DashPass membership. There's also up to $120 in Instacart credits ($10 per month) through 12/31/27. These are nice add-ons if you use those services, but they're easy to overlook if you don't.

Things to Watch Out For

First, the $350 annual fee is not waived for the first year. That means you'll pay it upfront, so you need to be confident you'll use the credits and free night to offset it. The airline credit requires you to spend $250 on flights directly with the airline—if you usually book through third-party sites, you won't trigger it.

The food and beverage credits are $75 per quarter, so you need to stay at IHG hotels at least once per quarter to use them. They don't roll over, so if you miss a quarter, you lose that value. The free night certificate is capped at 60,000 points per night, which won't cover top-tier properties in many destinations.

Also, Chase's 5/24 rule likely applies to this card. If you've opened five or more credit cards from any issuer in the past 24 months, you'll probably be denied. And you're not eligible if you currently have this card or received a new cardmember bonus for it in the past 24 months. Finally, keep in mind that Chase recently made changes to its existing IHG card lineup and devalued some benefits across the board, so it's worth checking how this new card fits into the overall picture.

Is This Card Worth It?

If you stay at IHG hotels a few times a year and can use the airline credit, this card can easily justify its annual fee. The combination of the free night certificate, $300 in dining credits, and $200 airline credit adds up to more than $350 in value for many travelers. Plus, the 200,000-point sign-up bonus is a huge chunk of points that can go toward future stays.

But if you're not loyal to IHG or don't travel enough to use the quarterly credits, the math gets tougher. The card is clearly aimed at frequent IHG guests who want premium perks and are willing to put in some effort to maximize them. If that sounds like you, it's worth a closer look. If not, you might be better off with a simpler, no-annual-fee card.

Bottom Line

• The IHG Premier Select has a $350 annual fee, but the $200 airline credit, free night certificate, and $300 in dining credits can offset most or all of it.
• The 200,000-point sign-up bonus after $5,000 in spend is a strong offer, but it expires on 11/18/2026.
• You'll get automatic Platinum Elite status and 20 elite night credits each year, making it easier to earn higher status.
• Chase's 5/24 rule likely applies, so check your recent card openings before applying.
• The card offers additional perks like DashPass, Instacart credits, and a Global Entry/TSA credit, but you need to use them to get value.

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