This post may contain affiliate links; please read our advertiser disclosure for more information.A few months back, IHG credit card refreshes were announced, including updates to the IHG Premier and IHG Traveler cards, and a new IHG business card.  These changes suddenly made IHG more interesting.  I previously described why I planned to upgrade my long-held IHG Select card to the Premier.  Along the way, IHG promised more changes were coming.  Finally, the IHG program’s major updates arrived.  While my decision to upgrade to the Premier was fairly easy in my situation, I want to circle back and reassess big spending strategies since the IHG One Rewards major changes were unveiled.  Today, I’ll look at the major changes through the big spending lens.  What I see is a mix of good and bad.  Let’s get the bad out of the way first.IHG Big Spending Bad NewsIHG covered various angles in the major announcement, and many hobbyists focused on Milestone Rewards.  By meeting certain night thresholds, IHG loyalists earn their choices of food and beverage credits, suite upgrades, lounge membership, and bonus points.  Unfortunately, IHG credit cardholders can’t spend their way to these nights like they can for elite status.  The automatic status we obtain by holding an IHG card does nothing for us with Milestone Rewards, either.  To earn Milestone Rewards, a member must have that many actual nights completed on hotel stays.I’m a big spender who doesn’t stay that many nights in any given chain year over year.  I don’t even come close to 20 nights a year with a specific chain, which is where IHG’s Milestone Rewards begin.  So while I agree Milestone Rewards is a promising new feature for IHG loyalists, this aspect is dead on arrival for me.  There are probably others in a similar situation.Upgrading the IHG Select to Premier was pretty much a no-brainer for me.Good News For SomeFirst, I want to reiterate the great news for IHG Premier and IHG business cardholders based on the initial announcements.  Long story short, these cardholders can earn 110k points and a $100 statement credit by spending exactly $20k in the 5x bonus categories.  And many of those bonus categories are generous ones, including travel, gas stations, and dining on both cards.  The Business version also includes office supply stores as a 5x bonus category.  I shared more thoughts on these developments here.The earlier announcements stated that Premier and Business cardholders can obtain top-tier Diamond status with $40k spend in a calendar year.  The jury was still out on future Diamond benefits, though.  Luckily, the latest announcement spelled everything out.Refreshed Elite BenefitsDoes the recent announcement incentivize spending for Diamond?  Let’s recap the elite level updates:Free breakfast choice for Diamond Elite members – Top-tier Diamond Elite members will have the choice of a free hot breakfast for two as their welcome amenity. This benefit will be available at most IHG Hotels & Resorts full service properties.Rewards Nights Discounts – Platinum and Diamond Elite members receive exclusive access to rewards night discount promotions.More Upgrades – Platinum & Diamond Elite members will have more opportunities to receive early check-in as well as room upgrades (subject to availability).Dedicated Diamond Support – Diamond Elite members will have access to a dedicated support team.Late Check-Out – All program members from the “Club” level all the way up to Diamond Elite will receive a late 2pm check-out (subject to availability).Unpacking The ChangesFree breakfast for two is a big win for Diamond members who stay at full service properties.  I’m thinking reward night discounts and upgrades will provide clear value, but the extent will be based on one’s personal travel situation.  I’m not overly concerned about these two areas also including Platinums.  I’d be surprised if Diamonds didn’t get priority access to discounts and upgrades over Platinums.  I feel the same about late checkout, which is now theoretically available to all IHG One Rewards members.Moving ForwardEssentially, big spenders cap out on simultaneously earning points and additional benefits at $40k annual spend.  A big spender’s first decision is whether to spend exactly $20k on the IHG Premier or IHG business card.  Again, read here to help inform your decision.  Next, a big spender should consider whether spending another $20k is worth the effort.The guaranteed outcomes of spending that second $20k would mean 100k more points (maximizing bonus categories) and full breakfast for two at full service properties.  The true value of reward night discounts and upgrades is quite variable based on one’s personal situation.  A diamond support line and late check-out priority are also worth considering, but may not play a huge role in your decision.We prefer stays at limited service IHG hotel brands like Holiday Inn Express.For most big spenders, the decision will come down to one’s rewards goals, spending capabilities, and individual earning capacities.  In my situation, I plan to spend $20k on my Premier card based on our upcoming travel goals where Holiday Inn Express will come in handy.  I currently have the ability to spend on the IHG Premier while also accomplishing other unrelated rewards goals.  Will I spend $40k on the IHG Premier card?  I don’t plan to – I don’t care that much about elite status, and we infrequently stay at full service IHG properties, anyway.ConclusionAs big spenders, we are continually challenged to reevaluate our patterns and processes to optimize earning (and burning) amidst the dynamic rewards landscape.  IHG is just another recent example here.  I’m happy to take on this and all other rewards spending dilemmas that come my way.  Usually, I end up better off from these dilemmas after analyzing a bit.  I encourage you to do the same, and have fun in the process!  What’s your plan with the IHG credit cards?Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.Featured: Chase Sapphire Preferred – Increased 80K Welcome Offer! Chase Sapphire Preferred has an increased offer right now. This is one of the most popular travel cards available. For a limited time you can earn 80,000 Ultimate Rewards points after $4K spend in the first 3 months of having the card while enjoying bonus categories like travel & dining. Points are worth $1K when use towards travel or transfer to partners like Hyatt, United or Southwest! $95 annual fee is not waived.