IHG just released a new promotion where you can get 5,000 IHG points back when you book a Points & Cash award night. This means when you book using Points & Cash at the 5,000 points for $40 option you are essentially buying 10,000 points for $40. You can book now through July 15th, 2014.
This works out to be 0.4 cents a piece—which is a good deal. If you have any upcoming IHG stays this would be a great promo to take advantage of. I’ve written before about the Cash & Points trick to buy IHG points for 0.7 points, so this promo lets you get 10,000 points at almost half that rate.
Promo Link: Book and get 5,000 points back!
Here are the terms: “To qualify to receive your bonus you must book a Points and Cash stay between 4/15/14 and 7/15/14. After qualifying, please allow 4 weeks for bonus points to post to your account. To be eligible for this bonus offer, account must be open and not in default at the time of fulfillment. This one-time bonus offer is valid only for members who are recipients of this email.”
And a small word of caution: the promo terms do state that the bonus offer is targeted to members who received the email, but this is similar to most of the other 4 digit IHG codes that are floating around. The bottom line is YMMV and apply at you’re own risk.