Chase has increased the annual fees on two IHG One Rewards credit cards, with the biggest rise reaching $101 a year for new cardholders. Existing customers will not face the higher fees until 2027. The changes come alongside new benefits designed to add value for customers who keep the cards.
IHG One Rewards Premier Fee Rises to $150
The annual fee for the IHG One Rewards Premier Card has increased from $99 to $150 for new customers from October 1. That represents a $51 increase.
Existing cardholders will keep the previous $99 fee until 2027, according to Chase. The card now comes with several additional benefits, including up to $100 in annual food and beverage rewards, a $100 annual airline statement credit and 15 elite-night credits each year.
The complimentary status level has changed from Platinum Elite to Gold Elite.
IHG Business Card Sees a $101 Increase
The annual fee for the IHG One Rewards Business Card, previously known as the IHG One Rewards Premier Business Card, has risen from $99 to $200 for new customers.
That is an increase of $101 a year. Existing cardholders will not face the new fee until 2027. New benefits include a $100 airline statement credit, up to $100 in annual food and beverage rewards and $100 in Expensify credits.
Expensify is a software service designed to help businesses track expenses and manage spending.
Chase Has Also Increased the Aeroplan Fee
The IHG cards are not the only Chase products affected by higher annual charges. The Chase Air Canada Aeroplan Card now has a $195 annual fee, compared with $95 previously.
That represents a $100 increase. As with the IHG cards, the higher charge comes alongside additional card benefits. Chase has also previously increased the annual fee on its Sapphire Reserve card by $245.
Customers Can Consider Other Card Options
Chase says customers who do not want to pay the higher annual fees should contact the bank to discuss their options. One possibility could be moving to another credit card with a lower annual fee.
Before making a change, cardholders should compare the cost of the new fee with the value of the rewards, credits and other benefits they actually use.
A card with a higher annual fee may still make financial sense for someone who regularly uses its credits, while the calculation can be different for customers who rarely use the benefits.
Existing Cardholders Have More Time
For people who already hold the two IHG cards, the fee increase is not immediate. Chase says existing customers will not be subject to the new annual fees until 2027. This gives current cardholders time to review the new benefits and decide whether keeping the card remains worthwhile before the higher charges take effect.
The changes illustrate a wider trend among US credit card issuers, with several banks and financial institutions raising annual fees while adding or changing rewards and statement credits.
