Chase and IHG’s new premium credit card comes with more than $500 in travel perks. Here’s what to know

Chase and IHG Hotels & Resorts are giving their hotel credit card lineup a major overhaul, including the launch of a new premium card that will cost travelers $350 a year. The companies announced the new IHG One Rewards Premier Select World Elite Mastercard on Monday, alongside significant changes to three existing IHG cards. There are new food and beverage credits, airline credits, and shortcuts to perks within the IHG One Rewards loyalty program. There are also some pretty substantial annual fee increases. Chase says the idea is to have something for everyone, whether you stay at an IHG hotel once or twice a year or practically live in one. “Everybody travels differently, and there’s different use cases,” Chris Cracchiolo, president of cobranded cards at JPMorgan Chase, said during a press briefing about the changes. “There’s the occasional leisure traveler. There’s the heavy business traveler. There’s the elite member, and there’s people just getting to know the IHG rewards status and brand. We want to serve them all, and we feel like we did that with the card lineup.” IHG now has a $350 credit card The biggest addition is the IHG One Rewards Premier Select World Elite Masterca…