Chase is raising the annual fee on its legacy IHG Rewards Select card from $49 to $99, the first change since the bank stopped selling the card in 2018. New terms take effect December 2, but the higher fee is not charged until each cardholder’s renewal in 2027. For people holding the card mainly for its yearly free night, the timing leaves a window to decide.
Two dates, and only one of them carries a charge
AwardWallet, which reported the change on October 14, says Chase’s change-in-terms notice amends the Cardmember Agreement effective December 2, 2026. That date is when the new terms become part of the contract. It is not the day a $99 charge appears.
The fee itself follows the account’s own calendar. Doctor of Credit, which first reported the increase on October 3, quotes a Chase representative as saying it starts “with each cardholder’s renewal date in 2027.” Its example: a card that renews in November 2026 stays at $49 until November 2027, while one that renews in January 2027 moves to $99 that January.
Chase has been sending the notices this month. AwardWallet says cardholders began receiving them in October and that anyone who has not seen one yet probably will. A Doctor of Credit reader reported a notice dated 12/02/26 that applies the new fee at the next renewal.
Should a holder close the card before the new fee posts?
The sources describe two exits. A holder can ask Chase for a product change to an eligible Chase card, which AwardWallet says keeps the credit line and the account history. Or a holder can close the account, in which case the annual fee is refunded if the closing comes within 30 days of the charge.
Either move is permanent. AwardWallet says a card that has been closed or converted cannot be reinstated, and this one cannot be reopened as a new account either, because Chase has kept it closed to new applicants since 2018. Anyone who leaves gives up an account that Chase will never issue again.
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That makes the renewal month the practical deadline. A holder whose card renews in the spring has months before the $99 posts. A holder whose card renews in January has a short runway after the December 2 terms start.
What the $99 buys
The free night certificate is the card’s main draw. AwardWallet says it has been capped at a 40,000-point redemption value for years. Doctor of Credit’s update says Chase has confirmed the certificate now works at hotels costing up to 50,000 points a night.
Platinum status and the 10 percent points rebate are reported as staying. Doctor of Credit adds that the terms appear to let holders top off the certificate with points, but says Chase has not confirmed that. Whether other benefits change is not clear.
The math is simple for a regular IHG guest. AwardWallet’s Mark Jackson writes that $99 is still a fair price for people who use the free night every year. He adds that an unused certificate is harder to justify at $99 than at $49.
Why this card was left out of the October refresh
The increase comes two weeks after Chase reworked the rest of its IHG lineup. The Points Guy reported on October 1 that the IHG One Rewards Premier card rose from $99 to $150 and the business card from $99 to $200. A new Premier Select card carries a $350 fee. For existing cardholders on those cards, the higher fees begin in 2027 as well.
The legacy Select card was missing from that announcement. AwardWallet says Chase did not mention it, and The Points Guy wrote that it did not yet know what would happen to holders of the card. The $99 notice settles that question for fee purposes, though Chase has not published a statement explaining it.
The card has a different position from its newer siblings. It is the only one in the family that nobody can apply for today. A holder who keeps it is keeping a product Chase stopped selling.
What a closing decision should weigh
The notice does not ask for any action. A holder who does nothing keeps the card and pays $99 at the 2027 renewal. A holder who converts keeps the credit line and history, and a holder who closes ends both.
The refund rule shapes the timing. AwardWallet says the annual fee comes back if the account is closed within 30 days of the charge. A holder who is unsure can let the $99 post at renewal and still close inside that window, as long as the 30 days are watched.
The other open point is the certificate. If Chase’s 50,000-point cap is what holders get from 2027, the card is worth more than the old one. If a holder rarely books IHG hotels, neither version earns back $99.
Closing the IHG Select card before it renews?
A closed card cannot be reinstated, and this one cannot be reopened. A holder who closes it without a full list of the other accounts, balances and due dates can lose track of what else is riding on the credit line.
The Bank Account & Debt Protection Kit includes a debt inventory, call log and deadline tracker, so every card, balance and renewal month sits on one page before any account is closed. It also lays out the debt-validation steps for the day a collector calls about an old balance.
Get the debt inventory and deadline tracker before closing a card →
More Financial Reading
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- 17 Medicare Money Moves Now That Part D Caps at $2,400
This article was produced with AI assistance and edited for accuracy against the sources linked above.
