As I’ve told you before, one of my “keepers” has been the IHG Card from Chase due to it offering a free hotel night at any of their properties in exchange for the $49 annual fee each year. Earlier this week, I received a letter from Chase explaining that the “Anniversary Free Nights issued after May 1, 2018 will [only] be redeemable at eligible IHG hotels with a redemption value up to and including 40,000 points. In addition, a “premier card” is hinted at for the future. My supposition is that Chase would ultimately like to offer two IHG card options: The original $49 card with lower value; and a premium card with a larger annual fee and better benefits for frequent guests. While I don’t have a problem with the addition of a premium card, it is very disappointing that Chase is downgrading the perks on customers’ existing cards. Especially since it will require many card holders to cancel these long-held accounts if the benefits no longer offer value for their situation.
Update: Just days after receiving this notification, I was contacted by Chase to help develop the “IHG Card of the Future.” I’m looking forward to that opportunity!