Chase has sent out a letter to IHG Rewards Club Select credit cardholders informing them that on May 1st, 2018 the anniversary free night benefit is being devalued. Currently the free night certificate can be used on any IHG property worldwide, certificates issued after May 1st, 2018 will only be able to be used on properties that cost up to and including 40,000 points per night.
This is a significant negative devaluation as this benefit previously could be used on properties that cost 70,000 points per night. I suspect the majority of the best places to use your free night certificate will no longer be eligible after this change. The Chase IHG card comes with a $49 annual fee and making the decision to keep the card has always been easy due to this benefit, this change will make that decision significantly harder for cardholders. It’ll be interesting if the same restriction is in place on the IHG Premier card when it launches or not (update: As reader Richard points out it likely will have the same restriction as the website detailing this change has the Premier card pictured).
Hat tip to reader Alex