Chase is advertising a special version of the IHG One Rewards Premier Credit Card offer that awards five free-night certificates after $4,000 in purchases during the first three months, plus 10,000 IHG One Rewards points for adding an authorized user during that same three-month window.

The headline value can look like 210,000 points: Chase says each certificate is worth up to 40,000 points, for a theoretical 200,000-point total, and the authorized-user addition contributes another 10,000 points. But that arithmetic disguises the offer’s central limitation. These are five separate capped certificates, not 200,000 flexible points, and Chase explicitly says they cannot be supplemented with IHG points for a hotel costing more than 40,000 points for the night.

That restriction makes the offer highly dependent on a traveler’s actual plans. It can be excellent for someone who can identify five desirable IHG nights pricing at or just below 40,000 points. It can be frustrating for anyone hoping to use the bonus at properties that regularly price above that ceiling.

Exact offer and eligibility

The special Chase landing page lists the following terms:

• Earn five free-night certificates after making at least $4,000 in eligible purchases within three months of account opening.
• Each certificate covers one standard-room night costing no more than 40,000 IHG points.
• Earn 10,000 additional points after adding the first authorized user within three months of account opening.
• Pay a $99 annual fee.
• The card is unavailable to current cardmembers of any personal IHG One Rewards credit card.
• Previous holders are ineligible if they received a new-cardmember bonus on any personal IHG card during the preceding 24 months. Chase says this restriction does not apply to its business-card products.

Balance transfers, cash advances, cash-like transactions, interest, fees and several other categories do not count toward the $4,000 requirement. Chase says the five certificates may take up to eight weeks to arrive after qualification.

The authorized-user bonus is awarded only once, regardless of how many users are added. The account must remain open and not in default, and the authorized user must still be on the account when Chase fulfills the bonus. Chase allows six to eight weeks for those points to post.

Applicants should add only a real person who has consented. The primary cardmember remains responsible for all charges, and Chase may report account information to credit bureaus for authorized users, potentially affecting their credit.

The certificate problem matters more than the headline number

The five welcome-offer certificates must be redeemed and the stays completed within 12 months after issuance. They cannot be transferred, extended, redeemed for cash or re-credited as points. Award inventory must be available for every night booked.

There is also an easy source of confusion: the card’s annual anniversary certificate can be topped up with points above its 40,000-point cap, but Chase’s terms say the five introductory certificates cannot. Applicants should not assume the more flexible anniversary-night rule applies to the welcome bonus.

IHG uses variable award pricing. A hotel that costs 38,000 points on one date may cost more than 40,000 on another, making the certificate unusable for the higher-priced night. The certificates therefore reward travelers who can search flexible dates and properties, not those who merely like the maximum advertised number.

Chase’s standard public page was separately advertising 140,000 points after $3,000 in spending when Awardtrail verified the offers. That alternative has a lower spending requirement and supplies flexible points rather than five expiring, individually capped instruments. The special offer can produce more nominal value, but only if the applicant can use most or all five certificates efficiently.

Who benefits—and who should skip it

This version is strongest for travelers already planning several stays at Holiday Inn, Holiday Inn Express, EVEN, voco, Crowne Plaza or other participating properties where suitable nights price at 40,000 points or less. A family trip or road trip with five eligible nights could extract value well above the $99 fee.

It is weaker for travelers targeting InterContinental, Kimpton and other properties that commonly exceed the cap; people unable to travel within the certificates’ 12-month life; and applicants who would struggle to complete $4,000 in organic spending without carrying debt. Interest charges erase reward value quickly.

Awardtrail analysis

The extra 10,000 points makes this special landing page objectively better than the otherwise identical five-certificate version without the authorized-user bonus. It does not, however, solve the offer’s structural weakness.

Before applying, search IHG’s calendar for at least five realistic nights below the 40,000-point threshold. Compare those stays with the 140,000-point public offer rather than valuing the certificates automatically at 200,000 points. Save the landing page and full terms, note the three-month deadlines for spending and the authorized user, and set a reminder well ahead of the certificates’ expiration.

The right applicant can get a strong return. Everyone else is being sold a maximum value that the restrictions may make impossible to realize.

Primary source: https://creditcards.chase.com/a1/ihg/Premier5FNAEP

Verified: September 15, 2026