A one-time offering of 60K points while charging annual fees of $120+/year is a poor value relative to our American friends.

The main point of using the card and paying $120+/year in fees is the annual free night Americans get, NOT a one-time points benefit that barely covers one night at an IC property.

At $70/10k points (IHG cash + points rate), the 60k points has a maximum value of $420. With many properties offering attractive 5,000, 10,000 and 25,000 bonus point rates, coupled with the occasional 50 - 100% bonus points on point purchases for Platinums, the value can be significantly less.

Thus after 2.5 years (or sooner), one is paying out of pocket to have the card.