For those wondering, I have the old $49 version. Applied today for the new Premier card and was instantly approved. Over 5/24 so that doesn't seem to apply and this will be my 5th Chase card. Free night may be devalued a bit, but I should get 2 nights now. Add in 2 from my wife and we can get a decent 4 night stay for $276 in annual fees. One of our favorite hotels happens to be right at 40K...at least for now.