Originally Posted by FrenchLaundry

With some additional reflection ... if you're weighing this as a pure valuation of a hard pull and annual fee vs. potential benefits/freebies - hotel credit cards in general are probably not on top.

But if you regularly (or even occasionally) stay at the associated properties - 5x minimum redemption, and possibly more depending on promotions, one's status (e.g. Intercontinental), etc., and adding dining, room service, and other fees - the situation is beneficial.

Consider - $4K at Fairmont, $4K dining, $4K regular spend.

That would be 5*4000 + 2*4000 + 4000 = 32000 Fairmont points.

So, a free Chase night, and sufficient points for a Cat. A Junior Suite night (or $300 in gift cards with 2000 residual points) - that's two nights, apart from the conferred Premier benefits (upgrades, LNF, dining certs, etc.)

2% on 12000 is $240. 3% (if you can get that) is $360. If you value Fairmont stays, the benefits accruing from the Fairmont card are much greater than $360.