MGM Debuts New Credit Card with Big Rewards, $250 Annual Fee

MGM Debuts New Credit Card with Big Rewards, $250 Annual Fee

MGM Resorts International launched a new credit card that enables customers to earn up to 6x points and tier credits in the casino operator’s rewards program on certain purchases. 

In collaboration with First National Bank of Omaha (FNBO), the gaming firm on Wednesday revealed the launch of the MGM Rewards Iconic World Elite Mastercard, expanding a collection of cards associated with the MGM Rewards program. 

Benefits of the new card feature cardholders earning 6x points and tier credits for every $1 spent at MGM Rewards locations, which includes the operator's casino resorts on the Las Vegas Strip. Customers can accumulate 2x points and tier credits at various hotels, gas stations, grocery stores, and dining establishments. Those earning prospects may be advantageous for points enthusiasts seeking to elevate their status in MGM Rewards — a goal that often demands considerable expenditure. 

Sapphire represents the lowest level in MGM Rewards, and to achieve a promotion to Pearl status, guests are required to gather 20,000 tier credits. To advance to Gold, 75,000 tier credits are required, which is still less than half of the 200,000 needed for the Platinum tier. Access to the Noir level is restricted to invitations only. 

New MGM Credit Card Offers Additional Benefits 

Besides providing one point and tier credit for each dollar spent in other categories, the MGM Rewards Iconic World Elite Mastercard enables cardholders to instantly reach Pearl status if they haven't already achieved it. 

Cardholders will receive a $200 resort credit when they open a new account and again each year on the anniversary of the account. Customers intending to utilize the new casino card for large purchases will receive 10,000 tier credits and a complimentary one-night stay, valued at up to $250, at MGM venues if they spend a minimum of $25,000 annually on the card. 

BetMGM customers can also use the MGM Rewards Iconic World Elite Mastercard to accumulate one point and tier credit for every $1 deposited on the iGaming and online sports betting platform. MGM overhauled BetMGM’s loyalty program over three years ago, adding more connections to the casino rewards system. 

The new MGM credit card does not consider BetMGM deposits as cash advances — unlike what many credit card companies do on other sports betting sites — allowing users to sidestep associated fees when using the card to fund their BetMGM accounts. 

MGM Credit Card Is Not Economical 

Like numerous rewards credit cards, the MGM Rewards Iconic World Elite Mastercard has an annual fee. In this case, it’s $250. 

Nonetheless, that is mild compared to several other yearly fees in the rewards credit sector. The American Express Platinum cards for both business and personal use have an annual fee of almost $700, whereas the Marriott Bonvoy Brilliant American Express Card, which is also connected to MGM, has an annual cost of $650. 

The Chase Sapphire Reserve card has an annual fee of $550, which is $100 higher than the Hilton Honors American Express Aspire card. All those fees pale in comparison to the $5,000 annual fee required for the Centurion card from American Express.