IHG credit card welcome offers: Earn up to 140,000 points - Business Insider - Business Insider

"best hotel rewards card,chase ink preferred" - Google News

IHG credit card welcome offers: Earn up to 140,000 points - Business Insider - Business Insider


IHG credit card welcome offers: Earn up to 140,000 points - Business Insider - Business Insider

Posted: 01 Oct 2020 02:05 PM PDT

This article is brought to you by the Personal Finance Insider team. It has not been reviewed, approved, or otherwise endorsed by any of the issuers listed. Some of the offers you see on the page are from our partners like Citi and American Express, but our coverage is always independent. Terms apply to the offers listed on this page.

  • The hotel chain IHG has two credit cards that are offering elevated sign-up bonuses for a limited time.
  • The IHG® Rewards Club Premier Credit Card— with an annual fee of $89 (waived the first year) — is offering 140,000 bonus points after spending $3,000 on purchases within the first three months of account opening.
  • The no-annual-fee IHG® Rewards Club Traveler Credit Card is offering new cardholders 100,000 points after they spend $2,000 in the first three months.
  • IHG award nights start as low as 10,000 points, so you could get as many as 10 or 14 nights, depending on which card you choose.
  • See Business Insider's list of the best hotel credit cards »

Exciting credit card offers were few and far between for the last several months — especially for travel rewards cards like hotel cards. But things are starting to pick up again; Chase just launched its highest-ever welcome bonus on the Marriott Bonvoy Boundless™ Credit Card, and it's also upped the sign-up offers on two of its IHG credit cards.

For a limited time, new cardholders can earn 140,000 bonus points after spending $3,000 on purchases within the first three months of account opening with the IHG® Rewards Club Premier Credit Card. That card has an annual fee of $89 (waived the first year), but there's also the no-annual-fee IHG® Rewards Club Traveler Credit Card, which is offering 100,000 IHG points after new cardholders spend $2,000 in the first three months from account opening.

These are limited-time offers, so they won't be available forever.

Annual Fee

$89 (waived the first year)

Regular APR

15.99% - 22.99% Variable

Credit Score

Good to Excellent

Editor's Rating

Featured Reward

140,000 bonus points after spending $3,000 on purchases within the first three months of account opening
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
  • Details
  • Pros & Cons
  • Earn 140,000 bonus points after spending $3,000 on purchases within the first three months of account opening
  • Enjoy a Reward Night after each account anniversary year at eligible IHG hotels worldwide. Plus, enjoy a reward night when you redeem points for any stay of 4 or more nights
  • Earn up to 25 points total per $1 spent when you stay at an IHG hotel
  • Earn 2 points per $1 spent on purchases at gas stations, grocery stores, and restaurants. Earn 1 point per $1 spent on all other purchases
  • Platinum Elite status as long as you remain a Premier card member
  • Global Entry or TSA Pre✓® Fee Credit of up to $100 every 4 years as reimbursement for the application fee charged to your card
  • IHG Rewards Club Bonus points are redeemable at hotels such as InterContinental®, Crowne Plaza®, Kimpton®, EVEN® Hotels, Indigo® Hotels & Holiday Inn®
Pros
  • Anniversary reward night can be worth more than the annual fee
Cons
  • Could offer better rewards on non-IHG purchases
Read Our Review Read Our ReviewA looong arrow, pointing right

We're focused here on the rewards and perks that come with each card. These cards won't be worth it if you're paying interest or late fees. When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

You can book IHG hotels for 10,000 points per night and up, depending on the particular hotel. Stays at higher-end IHG brands like InterContinental and Kimpton will generally set you back 40,000 points per night — which would mean you could book three nights at a property like the Kimpton Muse Hotel in New York City from the sign-up bonus on the IHG® Rewards Club Premier Credit Card alone. 

While many people aren't ready to travel yet, road trips and other closer-to-home getaways have become popular options during the ongoing quarantine. 

IHG has more than 5,000 hotels around the world — you can search for options in the US by visiting the chain's website.

Annual Fee

$0

Regular APR

17.49% - 24.49% variable

Credit Score

Good to Excellent

Editor's Rating

  • Details
  • Pros & Cons
  • 5X points per $1 spent as an IHG® Rewards Club Traveler Credit Cardmember
  • 2X points per $1 on purchases at gas stations, grocery stores and restaurants
  • 1X point for every $1 spent on all other purchases
  • Fourth Reward Night Free when you redeem points for any stay of 4 or more nights
  • No foreign transaction fees
  • Gold Elite Status when you spend $10,000 on purchases with your Card each calendar year
Pros
  • No annual fee
  • Great points earning for IHG stays
  • No foreign transaction fees
Cons
  • Not much in the way of perks beyond earning points
  • Really only a good option for earning points on IHG stays

These cards are worth considering beyond the high bonuses

The elevated welcome bonuses on the IHG Rewards Traveler and IHG® Rewards Club Premier Credit Card are good incentives to give these cards an extra-close look now, but they could be worth a permanent place in your wallet if you frequently stay at IHG-brand properties. 

Beyond the upscale InterContinental, Kimpton, and Six Senses hotel collections, IHG includes Holiday Inn, Hotel Indigo, Crowne Plaza, and Staybridge Suites, among other brands — so there's a huge variety of options to consider depending on your location, budget, and length of stay.

The IHG Rewards Club Premier offers cardholders a free reward night each year after their account anniversary, plus complimentary IHG Platinum Elite status. Thanks to this status, you earn an extra 5x points per dollar on paid IHG stays. Couple that with 10x points for being an IHG Rewards Club member and 10x points for paying with the IHG Rewards Club Premier, and you're looking at 25 points total per $1 spent when you stay at an IHG hotel!

The IHG® Rewards Club Traveler Credit Card doesn't offer a free annivesary reward night, but it can still earn you lots of points on IHG stays. You'll get 15x points as cardholder — 5x through the card's bonus for IHG purchases, and 10x for being an IHG Rewards Club member.

Check your eligibility first

Chase has a rule called 5/24, which prevents you from opening most Chase cards if you've added five or more new credit card accounts (across all banks) in the last 24 months. Both the IHG® Rewards Club Premier Credit Card and the IHG® Rewards Club Traveler Credit Card are subject to this rule, so you'll want to make sure you're actually eligible before you apply for either of these cards.

If you aren't eligible to open a new Chase card, you could still be in luck if you want to book an IHG hotel stay on points. That's because Chase Ultimate Rewards points transfer to the IHG Rewards Club program at a 1:1 ratio, so if you have the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card, your points can help you save on a stay.

We don't know when these limited-time sign-up bonuses will end, so don't wait to apply if you could use some extra IHG points for an upcoming hotel award stay.

Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.

Business Insider may receive a commission from The Points Guy Affiliate Network, but our reporting and recommendations are always independent and objective.

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.

2 times you shouldn't transfer Chase points: Pay Yourself Back, hotels - Business Insider - Business Insider

Posted: 30 Sep 2020 03:22 PM PDT

This article is brought to you by the Personal Finance Insider team. It has not been reviewed, approved, or otherwise endorsed by any of the issuers listed. Some of the offers you see on the page are from our partners like Citi and American Express, but our coverage is always independent. Terms apply to the offers listed on this page.

  • If you have a premium Chase credit card like the Chase Sapphire Preferred® Card, you can transfer your points to airline and hotel programs.
  • This option gets you great value for travel, especially for first-class flights, but it's not always the right move.
  • If you want to save money on everyday purchases like groceries, you're better off redeeming points directly through Chase using the Pay Yourself Back tool.
  • Additionally, hotels are often cheaper when you use points to book through Chase's travel website rather than transferring to Chase's hotel partners. 
  • See Business Insider's list of the best rewards credit cards »

Chase Ultimate Rewards are one of the most versatile and valuable types of credit card points out there. Chase has several different credit cards that earn Ultimate Rewards, making it easy to get a large amount of them quickly.

On the redemption side, Chase provides maximum flexibility. If you have a premium Chase card like the Chase Sapphire Preferred® Card, you can transfer your Ultimate Rewards to Chase's 13 hotel and airline travel partners. Or, you can choose to use your Ultimate Rewards at a fixed rate toward airfare, hotel, or other travel through Chase's Ultimate Rewards travel website.  

Usually, you'll get the most value from your points when you transfer them to airline and hotel partners — especially for first-class flights that would cost thousands of dollars if you booked with cash. However, there are a few scenarios where you're better off redeeming your Ultimate Rewards directly with Chase: if you want to save money on purchases eligible for Pay Yourself Back, and if you're booking a travel reservation that's cheaper to book through Chase than through its travel partners.

Chase's cash-back cards are more versatile than you might think

Some of Chase's no-annual-fee credit cards market their rewards as earning cash back. For example, the marketing copy for the Chase Freedom Flex℠ says it earns 5% cash back on up to $1,500 (then 1%) in purchases in rotating quarterly bonus categories after activation.

But the cards actually earn Ultimate Rewards points, not actual cash back. However, if you only have the Freedom Flex or Freedom Unlimited card, your Ultimate Rewards points come with restrictions. You can't transfer them to travel partners, and you can only redeem them for 1 cent per point (including as a statement credit).

But if you also have a premium card like the Chase Sapphire Reserve®, Chase Sapphire Preferred® Card, or Ink Business Preferred® Credit Card, you can use the Ultimate Rewards you earn on the Freedom Flex or Freedom Unlimited in a couple of different ways.

Combine your Ultimate Rewards on your card with the highest payback

The biggest and most immediate advantage of applying for a premium Chase card if you already have Ultimate Rewards points with the Chase Freedom or Chase Freedom Unlimited is the ability to redeem your Ultimate Rewards at a higher level.

As an example, let's say you already have a Chase Freedom Unlimited® and you've already put a lot of spending on it. You have 55,000 Ultimate Rewards, which Chase markets and displays to you as $550 cash back.

Now you apply for the Chase Sapphire Preferred® Card. In addition to the 80,000 points from the initial sign-up bonus after you spend $4,000 in the first three months, you'll get the ability to transfer your existing Ultimate Rewards to your Sapphire Reserve account.

Your 55,000 existing Ultimate Rewards combine with the 80,000 Ultimate Rewards from the Chase Sapphire Preferred® Card bonus, giving you a new total of 135,000 Ultimate Rewards. But even better, instead of redeeming your points at a value of only 1 cent per point, because you have the Sapphire Reserve you can redeem your points for 1.25 cents per point. Now you could use your Ultimate Rewards for $2,025 in travel through the Ultimate Rewards portal.

Annual Fee

$95

Regular APR

15.99%-22.99% Variable
Credit Score
Good to Excellent
Editor's Rating
Featured Reward
80,000 points
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
  • Details
  • Pros & Cons
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
  • 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 5X points on Lyft rides through March 2022. That's 3X points in addition to the 2X points you already earn on travel.
Pros
  • High sign-up bonus starts you off with lots of points
  • Strong travel coverage
Cons
  • Doesn't offer a Global Entry/TSA PreCheck application fee credit or any other statement credit benefits
Read Our Review Read Our ReviewA looong arrow, pointing right

Take advantage of Chase's new "Pay Yourself Back" feature

With the current COVID-19 pandemic curtailing travel, many credit card issuers are introducing new features that let you use your rewards here at home.

One example of this is is Chase's recently introduced Pay Yourself Back feature. Pay Yourself Back feature available to holders of the Chase Sapphire Reserve® and Chase Sapphire Preferred® Card, and as of October 1 it will also be available to anyone who has the Chase Freedom Flex℠, Chase Freedom Unlimited®, Ink Business Preferred® Credit Card or Ink Business Plus Card.

If you hold one of those cards, then you can use your Ultimate Rewards points to erase certain purchases at a rate of 1.25 cents per point or 1.5 cents per point (for the Sapphire Reserve only). You can use Pay Yourself Back on purchases up to 90 days after the purchase was made, in the following categories:

  • Grocery stores
  • Dining, including restaurants, takeout, and eligible delivery service.

  • Home-improvement stores
  • Eligible charities

One cardholder was able to use Chase's Pay Yourself Back feature to save $597.92 on her grocery and dining bill recently.

If you want to save money on grocery-store trips, delivery meals, and more, the Pay Yourself Back feature provides a valuable option. It lets you redeem Chase points for everyday purchases without missing out on the value you can expect for travel redemptions.

If you're traveling, make sure to check the Chase travel portal before transferring points

In addition to being able to combine your Ultimate Rewards and redeem at a higher rate, having a premium Chase card allows you to transfer points to Chase's travel partners. These 13 hotel and airline travel partners include United Airlines, Marriott Bonvoy, and Southwest Airlines.

While transferring your Ultimate Rewards points to travel partners can often be the best way to maximize the value of your points, that's not always the case.

If you want to use your points to fly in business or first class, it's hard to top the value you can get from transferring your points. But, especially if you have the ability to use your points for 1.5 cents apiece for travel with the Sapphire Reserve, you'll want to check the Chase travel portal before transferring your points.

As an example, consider this one-night stay at the Salt Lake City Marriott University Park. Even at the lowest Pointsavers rate, it costs 32,500 Marriott Bonvoy points per night.

Marriott stay
Marriott Bonvoy

That same night only costs $117.23 per night if you use cash.

Marriott stay
Marriott Bonvoy

If you have the Sapphire Reserve, your stay would only cost you 7,816 points — a 76% savings — if you book through the Chase travel portal rather than transferring your points to Marriott. So in that case, rather than transferring 32,500 Chase Ultimate Rewards points to Marriott, you'd want to book your hotel stay via the Chase travel portal.

It's not always the case that you'll save points by using the travel portal, but it pays to do a quick check both ways and see which way costs you the fewest of your hard-earned Ultimate Rewards.

Comments

Popular posts from this blog

Window for Small Businesses to Apply for PPP Funding Closes Saturday - Bay News 9

List of Easy Approval Net 30 Accounts for 2020 - Nav

This new business index offers a more accurate way to forecast recessions - MIT Sloan News