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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:

Screen Shot 2017-04-24 at 10.53.17 AM
Buy 20,000 points for just 0.46 cents per point.

Hotel Indigo Chicago Downtown Gold Coast: 15,000 points + $92:

Screen Shot 2017-04-24 at 10.58.01 AM
Buy 20,000 points for just 0.46 cents per point.

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 that you apparently must be an IHG elite member in order to take advantage — IHG Rewards Club Select Credit Card holders earn Platinum status, so if you have this card you should be eligible for this reduced rate.

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.

H/T: FrequentMiler

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