Chase and IHG overhauled their U.S. co-brand lineup on Oct. 1, 2026, and the headline change for existing Premier cardholders is simple: the annual fee on the IHG One Rewards Premier Credit Card is now $150, up from $99, with the higher charge hitting renewals starting in 2027 for accounts opened before the refresh.
The refresh is not a single fee bump. Chase added a third consumer card, the IHG One Rewards Premier Select Credit Card, at $350 per year, while the IHG One Rewards Business Credit Card rose to a $200 annual fee from $99. The no-annual-fee IHG One Rewards Credit Card (formerly the Traveler card) kept its $0 price but picked up new earning categories. For travelers who carry only the Premier, the math now depends on whether the added credits and anniversary night still clear the extra $51.
What changed on the Premier card
New applicants pay $150 immediately. Chase says most refreshed benefits are available to new and existing cardholders starting Oct. 1, but the fee increase is deferred for current Premier customers until their first renewal on or after that date in 2027. That gives holders a few billing cycles to compare the card against the free IHG card or rival hotel portfolios before the renewal notice arrives.
The trade Chase is offering on the Premier includes a larger annual free-night certificate (capped at 40,000 points, with the option to top up for pricier properties), a new $50 annual credit on U.S. gas and EV charging, and a $50 annual credit on U.S. flights booked direct with carriers. The card still earns elevated points at IHG hotels and adds 6 points per dollar on dining and non-IHG travel. Automatic elite status, however, drops from Platinum Elite to Gold Elite on the Premier—a cut that matters if you rely on room upgrades or late checkout without staying enough nights to earn status the hard way.
How the new $350 Select card fits
The Premier Select sits above the Premier and below nothing in the IHG family. It carries Platinum Elite status, a higher free-night cap (50,000 points), and richer statement credits, including $200 per year on IHG stays and $200 on dining and travel. Chase positions it for road warriors who already max out the Premier’s night certificate. For everyone else, the Select is an upsell that can make the $150 Premier look like the middle child rather than the top product.
Business travelers who held the IHG business card at $99 will see a $200 renewal unless they downgrade or product-change before their anniversary. The business card keeps Platinum Elite status, which may push some sole proprietors to shift spend to that line if they qualify.
What to do before your renewal
If you opened the Premier primarily for the old $99 fee and a free night, pull your last 12 months of IHG spend and credit usage. Add the value of the anniversary night, the fourth-night-free reward (still a Premier perk), and any credits you realistically use. Compare that total with $150 and with transferring Chase Ultimate Rewards points to IHG if you also carry a Sapphire card—remember that Chase cut Sapphire Preferred and Ink transfers to Hyatt and partners to a 4:3 ratio on Oct. 1, which indirectly raises the value of hotel cards that still earn at full bonus rates on stays.
Cardholders who do not stay at IHG properties at least twice a year often fare better with a general travel card and paying cash or using a different hotel currency. If you are on the fence, set a calendar reminder 60 days before your 2027 renewal: Chase sometimes offers retention offers, but they are not guaranteed, and the new three-tier structure gives the bank more room to steer you toward the Select rather than waiving the increase entirely.
None of this requires an immediate account change. Applications for the refreshed cards opened Oct. 1, and existing Premier customers keep current plastic until it expires. The fee and benefit package, though, are already locked in for the next renewal cycle—so the useful work is comparing numbers now, not when the statement posts next fall.