InterContinental Hotels Group Priority Club Rewards and Chase have introduced a new co-branded credit card that has some compelling benefits for Priority Club Rewards members. The Priority Club Select Visa has a $49 annual fee and comes with a free night certificate every year that can be used at over 4,400 Priority Club hotels worldwide.

Cardholders also receive a 10 percent rebate on all point redemptions, ongoing Gold elite status, five points per $1 spent at Priority Club Rewards hotels, two points per $1 spent on gas, groceries and dining and one point per $1 spent on all other purchases. When using the card overseas, foreign transaction fees will not be charged. The card also comes with a 30,000-point sign up offer and the annual fee is waived the first year.

Bottom line: The annual free night certificate alone is worth the $49 annual fee, even if you don’t intend to use this card as your primary credit card. Cardholders earn double points on gas, groceries and dining and if your current credit card charges fees for purchases in other countries, this card should be considered because it has no foreign transaction fees. Gold elite status has rather weak benefits, but it is at least one step higher than a basic Priority Club Rewards membership and does offer some benefits including receiving a 10 percent point bonus, priority check-in and access to an exclusive Gold customer service line. When redeeming points for any award, you will receive a 10 percent rebate within four to six weeks after redeeming, which means the popular 5,000-point PointBreaks awards are only 4,500 points for Priority Club Select Visa cardholders.