Originally Posted by
Tennen
Presumably, the OP has the IHG Select card, which is no longer available. Unless the OP can't use the anniversary free night (which doesn't seem to be the case) or the 10% points rebate, it seems kind of silly to close (or even downgrade) a card that only costs $49 a year... If they decide to get another IHG credit card in the future, they'd lose out on the annual points rebate AND pay a higher annual fee.
OP, don't forget that your points will expire 12 months after you lose status.
I'll second this comment. For $49 per year, you'll get a free night at any IHG property at 40K or lower. Select cardholders can also get the new Premier, and the 10% rebate from the Select combines with the fourth night free on the Premier. I took advantage of this in August in California and will do so again in December in Orlando.
If you intend to stay within the IHG ecosystem, keeping this card is wise. Of course, if the program no longer holds value for you or you want to free a credit line for another card, then I understand canceling the card.