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Update: Some offers mentioned below are no longer available. View the current offers here – IHG Rewards Club Select Credit Card
IHG Rewards is offering a bonus of up to 60% for purchasing up to 60,000 points through May 8, 2015. The promotion is partially targeted, as the maximum bonus is only 50% for some members. Log in to your IHG account to see what bonus you’ve been offered.
Like past buy points promos from IHG, this is a tiered bonus that depends on how many points you decide to purchase:
- Buy 1,000-19,000 points, receive a 30% bonus.
- Buy 20,000 – 29,000 points, receive a 40% bonus.
- Buy 30,000 – 39,000 points, receive a 50% bonus.
- Buy 40,000-60,000 points, receive a 60% bonus.
Points can be purchased in increments of 1,000 at the following rates:
- 1,000-10,000 points for $13.50 per 1,000 points;
- 11,000 – 25,000 points for $12.50 per 1,000 points;
- 26,000 – 60,000 points for $11.50 per 1,000 points.
Depending on what tier you’re buying into and what bonus you’re getting, expect to pay anywhere from about 0.72 cents to 1 cent per point with this promotion. I value IHG points at 0.7 cents apiece, so you’ll still be paying a slight premium for your points even if you maximize the bonus. However, you can easily get better value than that by taking advantage of IHG PointBreaks (which offers rooms at select properties for just 5,000 points per night) or by redeeming at top IHG properties like the Intercontinental Hong Kong. If you have a redemption in mind that gets you more than 0.7 cents per point, then consider buying the points now to save later.
Note that there’s a trick you can use any time to buy IHG points for 0.7 cents apiece. This involves making a Points & Cash reservation, which you then cancel. The cash portion is then refunded to you in the form of points, which you’ve effectively purchased at 0.7 cents apiece (or 0.63 cents with the 10% redemption rebate given to those who have the IHG Rewards Club Select Credit Card from Chase). However, this is frowned upon by IHG, and there are reports of accounts being shut down for abusing this option. If you don’t feel comfortable navigating that kind of redemption, the current bonus is almost as good, and is clearly less risky.
If you only need a few thousand or so IHG Rewards Points to top off your account, this promotion will give you a small boost. If you need a significant number of points and don’t already have the IHG Rewards Card, I would forego this offer and instead take advantage of the current sign-up bonus of 70,000 points after you spend $1,000 in the first three months. With an exceptionally high sign-up bonus and relatively low spending requirement, I’m looking into getting this card myself, and thanks to the annual free night certificate and relatively low $49 annual fee, I’d recommend it to anyone who is interested in IHG properties.