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

• Cardholders can earn up to 6x points and tier credits
• Rewards can also be earned on BetMGM
• Card has $249 annual fee

MGM Resorts International unveiled a new credit card that allows customers to earn up to 6x points and tier credits in the casino operator’s rewards program on select spending.

In partnership with First National Bank of Omaha (FNBO), the gaming company on Wednesday announced the debut of the MGM Rewards Iconic World Elite Mastercard, adding to a suite of cards linked to the MGM Rewards program.

Sapphire is the lowest tier in MGM Rewards and to earn a promotion to Pearl status, patrons must accumulate 20,000 tier credits. To make the next move up to Gold, 75,000 tier credits are needed and that’s not even half the 200,000 required for the Platinum tier. The Noir level is by invite only.

New MGM Credit Card Has Other Perks

In addition to offering one point and tier credit for every $1 spent on categories outside the aforementioned, the MGM Rewards Iconic World Elite Mastercard allows cardholders to immediately attain Pearl status if they haven’t already done so.

Customers using the card will also get a $200 resort credit upon opening a new account and each year on the account anniversary. Patrons that plan use the new casino card for significant expenditures will earn 10,000 tier credits and a free one-night stay, up to $250, at MGM properties should they spend at least $25,000 per year on the card.

BetMGM clients can also leverage the MGM Rewards Iconic World Elite Mastercard to earn one point and tier credit for each $1 deposited on the iGaming and online sports wagering platform. MGM revamped BetMGM’s loyalty program more than three years ago, including more links to the casino rewards plan.

The new MGM credit card does not treat BetMGM deposits as cash advances — something that most credit card issuers do on other sports betting platforms — meaning clients can avoid related fees when funding their BetMGM accounts with the card.

MGM Credit Card Isn’t Cheap

As is the case with many rewards credit cards, the MGM Rewards Iconic World Elite Mastercard comes with an annual fee. In this, it’s $250.

However, that is tame to some of the other annual fees in the rewards credit space. Both the American Express Platinum business and personal cards charge nearly $700 per year while the Marriott Bonvoy Brilliant American Express Card — a card with MGM ties of its own — costs $650 per year.

The Chase Sapphire Reserve card carries an annual fee of $550, or $100 more than Hilton Honors American Express Aspire card. All of those fees are dwarfed by the $5,000 per year charged by American Express on the Centurion card.