Chase launched the IHG One Rewards Premier World Elite Mastercard with a $150 annual fee, according to NerdWallet. The card joins the existing IHG One Rewards family of credit products.

The move represents a change to Chase's IHG credit card lineup. The company also restructured its existing IHG cards as part of the rollout, though specific details about those changes were not provided in the available information.

The IHG One Rewards Premier World Elite Mastercard targets customers in the hotel rewards space. The annual fee increase and new card launch suggest Chase is repositioning its IHG partnership offerings, likely to appeal to different spending levels and customer segments within the hotel loyalty program ecosystem.