Cancel Select or Premium IHG CC?
Jan 17, 2021, 10:02 pm
#1
FlyerTalk Evangelist
Original Poster
Join Date: Dec 2003
Location: Benicia, California, USA
Programs: AA PLT,AS,UA PP,J6,FB,EY,LH,SQ,HH Dmd,Hyatt Glbl,Marriott Plat,IHG Plat,Accor Gold
Posts: 10,820
Cancel Select or Premium IHG CC, and other questions
I have both a Select and Premium IHG CC. A few questions:
1. If I want to cancel one of them, I'm leaning toward canceling the Premium even though it has a couple of better perks, since down the line I could apply for it again (and accrue another initial spend bonus) and in the meantime I'd save on its annual fee, which is higher than the Select. Does that reasoning make sense?
2. If I do cancel one or the other, am I correct in assuming that I won't forfeit the canceled card's annual 40K point free night, which has already posted to my account?
3. Beyond the value of two free nights per year, is there any reason to hold on to both cards?
Thanks for any help.
1. If I want to cancel one of them, I'm leaning toward canceling the Premium even though it has a couple of better perks, since down the line I could apply for it again (and accrue another initial spend bonus) and in the meantime I'd save on its annual fee, which is higher than the Select. Does that reasoning make sense?
2. If I do cancel one or the other, am I correct in assuming that I won't forfeit the canceled card's annual 40K point free night, which has already posted to my account?
3. Beyond the value of two free nights per year, is there any reason to hold on to both cards?
Thanks for any help.
Last edited by Thunderroad; Jan 17, 2021 at 10:24 pm
Jan 18, 2021, 10:51 am
#2
Join Date: Nov 2001
Location: USA, JPN, GBR
Programs: A3, AA, AC, AS, DL, NH, SQ, SK, UA; BW, CP, HH, IHG, MB
Posts: 1,950
1. Yes, if you had to cancel one of the two, I'd definitely cancel the Premier instead of the Select for the reasons you stated. Keep in mind that you have to wait 24 (?) months after canceling to be eligible for the bonus again.
2. Not sure.
3. If you redeem your points for stays, it might make sense to keep both so you can benefit from the 4th night free and the 10% rebate. Also, it might make sense if you don't have other cards with GE/TSA Pre fee credit.
Another option is to downgrade/product change the Premier to the no annual fee Traveler card. IIRC, that also has the 4th night free benefit. Keeps your credit length unchanged and no hard pulls if you decide to upgrade again. The downside is that you won't get another sign up bonus.
2. Not sure.
3. If you redeem your points for stays, it might make sense to keep both so you can benefit from the 4th night free and the 10% rebate. Also, it might make sense if you don't have other cards with GE/TSA Pre fee credit.
Another option is to downgrade/product change the Premier to the no annual fee Traveler card. IIRC, that also has the 4th night free benefit. Keeps your credit length unchanged and no hard pulls if you decide to upgrade again. The downside is that you won't get another sign up bonus.
Jan 18, 2021, 2:18 pm
#3
Join Date: Aug 2010
Location: ORF
Programs: Amex Plat, AA, BA Silver, Marriott Plat, Choice Gold, HHonors Gold, IHG Diamond
Posts: 3,749
Chase hasn't changed the annual fees on either so what I've felt for years about holding both cards still applies. For $138 per year, you get two free nights at IHG properties that cost up to 40K on points. No weekend restrictions, just dates when the hotel decides not to make any more award nights available. Even in these pandemic times, I can find way more than $138 in value from those free nights certificates. But yes, since the Select is closed to new applications, it makes more sense to cancel the Premier.
Jan 18, 2021, 2:37 pm
#4
Join Date: Sep 2015
Location: flyover country
Posts: 2,434
I agree with Tennen, except that I believe it is 24 months since you last received the last bonus. Someone in my extended family closed a Premier account and opened a new one two months later and got the sign-up bonus. The free night certificate stayed in the IHG account even after the card was closed.
Also, I suggest heeding Tennen's advice on PC to Traveler. I cannot confirm that Traveler gets 4th night free, but holding the Traveler card allows one to apply for a new Premier and then PC back to Premier if the application is denied. I see no reason to hold the Traveler card as well as the Premier, so I would suggest closing the Traveler if a new application for Premier is approved.
Also, I suggest heeding Tennen's advice on PC to Traveler. I cannot confirm that Traveler gets 4th night free, but holding the Traveler card allows one to apply for a new Premier and then PC back to Premier if the application is denied. I see no reason to hold the Traveler card as well as the Premier, so I would suggest closing the Traveler if a new application for Premier is approved.
Jan 18, 2021, 3:57 pm
#5
Join Date: Nov 2001
Location: USA, JPN, GBR
Programs: A3, AA, AC, AS, DL, NH, SQ, SK, UA; BW, CP, HH, IHG, MB
Posts: 1,950
I agree with Tennen, except that I believe it is 24 months since you last received the last bonus. Someone in my extended family closed a Premier account and opened a new one two months later and got the sign-up bonus. The free night certificate stayed in the IHG account even after the card was closed.
I probably mixed it up with something else.
Also, I suggest heeding Tennen's advice on PC to Traveler. I cannot confirm that Traveler gets 4th night free, but holding the Traveler card allows one to apply for a new Premier and then PC back to Premier if the application is denied. I see no reason to hold the Traveler card as well as the Premier, so I would suggest closing the Traveler if a new application for Premier is approved.
You know, it makes me wonder if you can apply for the Traveler card and PC to the Premier, even if you already have both the Select and the Premier, and earn a third free night certificate...
Jan 19, 2021, 12:36 pm
#6
FlyerTalk Evangelist
Original Poster
Join Date: Dec 2003
Location: Benicia, California, USA
Programs: AA PLT,AS,UA PP,J6,FB,EY,LH,SQ,HH Dmd,Hyatt Glbl,Marriott Plat,IHG Plat,Accor Gold
Posts: 10,820
Thanks for the very useful replies and discussion, folks. FWIW, I'll hold on to both cards for now. IHG just hit me with the 5X points for grocery/drug store/gas station purchases through March 31 for both cards, which provides an incentive. Plus, now that I'm past the two-year 5/24 Chase limit, I'll be applying for one or more additional Chase (non-IHG) cards again, so I'll be spending on both of these cards and won't have to deal with the potential question of why I'm applying when I haven't been spending on Chase cards (if that would even come up).
Anyway, I appreciate the thoughtful input.
One question: I know what the concept of PC used here refers to, but what words does PC actually stand for?
Anyway, I appreciate the thoughtful input.
One question: I know what the concept of PC used here refers to, but what words does PC actually stand for?
Jan 19, 2021, 2:02 pm
#8
Join Date: Nov 2001
Location: USA, JPN, GBR
Programs: A3, AA, AC, AS, DL, NH, SQ, SK, UA; BW, CP, HH, IHG, MB
Posts: 1,950
Thanks for the very useful replies and discussion, folks. FWIW, I'll hold on to both cards for now. IHG just hit me with the 5X points for grocery/drug store/gas station purchases through March 31 for both cards, which provides an incentive. Plus, now that I'm past the two-year 5/24 Chase limit, I'll be applying for one or more additional Chase (non-IHG) cards again, so I'll be spending on both of these cards and won't have to deal with the potential question of why I'm applying when I haven't been spending on Chase cards (if that would even come up).
Anyway, I appreciate the thoughtful input.
One question: I know what the concept of PC used here refers to, but what words does PC actually stand for?
Anyway, I appreciate the thoughtful input.
One question: I know what the concept of PC used here refers to, but what words does PC actually stand for?
PC = product change
Unless your financial situation is precarious, IMHO, I think you're making the right decision to keep both cards. If you do end up canceling or downgrading the Premier, you'd have to wait at least a year to get the anniversary night again (and pay two annual fees to get it).
Jan 19, 2021, 2:14 pm
#9
Join Date: Sep 2015
Location: flyover country
Posts: 2,434
Chase Freedom Unlimited now offers 3x for drug stores, and for the first year (unless the promo has ended) it offers 5x for grocery stores (up to $12,000). What do you recommend for gas? For that matter, if one doesn't have a new Freedom Unlimited card, what do you recommend for groceries?
Jan 19, 2021, 3:14 pm
#10
Join Date: Nov 2001
Location: USA, JPN, GBR
Programs: A3, AA, AC, AS, DL, NH, SQ, SK, UA; BW, CP, HH, IHG, MB
Posts: 1,950
Chase Freedom Unlimited now offers 3x for drug stores, and for the first year (unless the promo has ended) it offers 5x for grocery stores (up to $12,000). What do you recommend for gas? For that matter, if one doesn't have a new Freedom Unlimited card, what do you recommend for groceries?
Jan 19, 2021, 11:18 pm
#11
FlyerTalk Evangelist
Original Poster
Join Date: Dec 2003
Location: Benicia, California, USA
Programs: AA PLT,AS,UA PP,J6,FB,EY,LH,SQ,HH Dmd,Hyatt Glbl,Marriott Plat,IHG Plat,Accor Gold
Posts: 10,820
Don't get too excited about the 5X bonus, which is only 2.5%. Not many cards offer drug stores as a bonus category (so that could be worth it), but you can probably do better for both grocery and gas. Also, there's the contactless promo until 2/28 or so. Pay via contactless 3x ($3.50 minimum each) per card and get 1000 bonus points.
PC = product change
Unless your financial situation is precarious, IMHO, I think you're making the right decision to keep both cards. If you do end up canceling or downgrading the Premier, you'd have to wait at least a year to get the anniversary night again (and pay two annual fees to get it).
PC = product change
Unless your financial situation is precarious, IMHO, I think you're making the right decision to keep both cards. If you do end up canceling or downgrading the Premier, you'd have to wait at least a year to get the anniversary night again (and pay two annual fees to get it).
Jan 15, 2022, 5:28 pm
#14
Join Date: Jun 2007
Posts: 1,406
Chase hasn't changed the annual fees on either so what I've felt for years about holding both cards still applies. For $138 per year, you get two free nights at IHG properties that cost up to 40K on points. No weekend restrictions, just dates when the hotel decides not to make any more award nights available. Even in these pandemic times, I can find way more than $138 in value from those free nights certificates. But yes, since the Select is closed to new applications, it makes more sense to cancel the Premier.
Are you sure there won't be charging me a fee?