For the time being, I have downgraded my Chase IHG Rewards Club Premier Credit Card to the Chase IHG Rewards Club Traveler Credit.
Don’t get me wrong, I really like the card and feel the $89 more than makes up for the free night up to 40,000 IHG Rewards points. (Although, I probably would have kept the card had they not capped the free night at 40k). The problem is, I have a lot of cards in which I get a free night and even though I am in college touring mode, I fear I will have a hard time using the free night.
So I downgraded to the $29 version for at least a year and I will reevaluate next year.
Note, I would not use this card for everyday spending (in either version). I would still use it though if I stay at an IHG Hotel to earn 5x IHG Rewards points.