What happened
The IHG One Rewards Traveler Credit Card, a no-annual-fee card issued by Chase, has updated its welcome offer to 125,000 bonus points. This is the highest bonus the card has offered. The offer structure requires spending $2,000 in the first three months to earn 90,000 points, plus an additional 35,000 points after spending $4,000 in the first six months. The total spend requirement is $6,000. Based on TPG's May 2026 valuations, this bonus is worth up to $750. Eligibility requires not having a personal IHG card currently, not having earned a welcome bonus on a personal IHG card in the last 24 months, and being under Chase's 5/24 rule. The card earns up to 17 points per dollar at IHG properties, with elevated rates at gas and restaurants. Redemption benefits include a free fourth night on stays of four or more nights