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Booking hotels with IHG’s Points & Cash option presents an interesting way to stock up on points, because you essentially purchase points at a given cash rate, but if you proceed to cancel the reservation, the chain will refund you in points, not cash. Right now, IHG is offering discounts on its Points & Cash rates, which means that if you’re in need of IHG points, you can make multiple reservations and then cancel them to pad your account balance with a hefty sum of points.
For each property with availability, you’ll have the option of booking a Points & Cash option, which involves a portion of points and a cash co-pay to make up the difference between the normal and discounted rates. While the exact rates vary according to property, we’re finding some that will allow you to purchase points at just 0.46 cents per point, which is the lowest rate we’ve ever seen. TPG values IHG points at 0.7 cents each. There aren’t a ton of properties that are featuring that incredible 0.46-cent rate, but there are a few options to consider:
Crowne Plaza San Francisco Airport: 25,000 points + $92:
Hotel Indigo Chicago Downtown Gold Coast: 15,000 points + $92:
With both of these options, you’re essentially purchasing 20,000 points for $92.
While I was able to find this availability in May, I wasn’t having any luck in June. There are other properties which allow you to buy points at a marginally higher rate, but if you’re looking to stock up on points, you might as well book one of the options with the cheapest rates.
Note, too, that the IHG PointsBreaks hotels for this quarter are available to book today, so you could purchase the 5,000 points necessary for a one-night stay for just $23 by making a reservation at one of the above properties, canceling it and then redeeming the refunded points for a stay at one of the PointsBreaks hotels. This quarter’s list of properties doesn’t have the most glamorous hotels on it, but if you’re planning on staying at any of them, you could be getting a fantastic deal.
Featured image courtesy of the Hotel Indigo Chicago Downtown Gold Coast.
With great travel benefits, 2x points on travel & dining and a 50,000 point sign up bonus, the Chase Sapphire Preferred is a great card for those looking to get into the points and miles game. Here are the top 5 reasons it should be in your wallet, or read our definitive review for more details.
- Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
- Chase Sapphire Preferred named "Best Credit Card for Flexible Travel Redemption" - Kiplinger's Personal Finance, June 2018
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- No foreign transaction fees
- 1:1 point transfer to leading airline and hotel loyalty programs
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
- No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards