MGM Rewards Iconic World Elite Mastercard®
A $249-a-year travel rewards card from FNBO.
Rates, fees, and full terms are set by FNBO and can change. See current rates & fees on the issuer’s site, and always confirm the latest terms before applying.
Our review
The MGM Rewards Iconic World Elite Mastercard is the premium MGM card. For $249 a year it earns 6x points and Tier Credits at MGM Rewards destinations, 2x on hotels, dining, gas, and groceries, and 1x elsewhere, with automatic Pearl status and a $200 resort credit every year.
If you visit Las Vegas or other MGM properties at least once a year, the resort credit alone covers most of the fee, and the complimentary night at $25,000 in spend adds more. If you do not, the points have little use.
Think twice if: you visit MGM properties less than once a year, since the resort credit and points are tied to them.
Our 5.6 out of 10 rating
Each score weighs the rewards rate, value after the annual fee, welcome offer, points flexibility, and perks, with every point valued at a flat 1 cent. This is our editorial assessment to help you compare cards, not a guarantee of approval or of the value you will get.
Earning rates at a glance
Rewards: how it earns
You earn 6 points and Tier Credits per dollar at MGM Rewards destinations, 2 per dollar on hotels, dining, gas, and groceries, and 1 everywhere else. Points are worth about a penny each at MGM properties. Spending $25,000 a year adds a complimentary night worth up to $250 and 10,000 extra Tier Credits.
| Category | Rate | Notes |
|---|---|---|
| Dining and restaurants | 2x | Bonus category |
| Groceries | 2x | Bonus category |
| Gas | 2x | Bonus category |
| Hotels | 2x | Bonus category |
| Travel | 1x | Base rate |
| Streaming | 1x | Base rate |
| Everything else | 1x | Everything else |
Brand and bonus rates: beyond the everyday categories above, this card also earns:
- 2x on hotels, dining, gas stations, and grocery stores
The fine print on rates: MGM Rewards points are worth about 1 cent each and redeem at MGM properties for rooms, dining, shows, and more. The $200 resort credit must be applied to room charges at an MGM property and redeemed in person at the MGM Rewards desk. Away from MGM, the card earns little.
Every point and mile above is valued at a flat 1 cent, the same honest standard we use for every card. Run your own spending through the calculator to see what this card would actually return for you.
Best ways to earn & redeem
Put your dining, groceries, and gas spending on this card to earn at its highest rates, and let a different card handle the categories it does not bonus. Its dining rate is on the modest side for that category, so compare before you commit.
When you cash in, redeem the miles or points inside the single loyalty program this card is tied to. We value every point at a flat 1 cent, so treat any transfer upside as a bonus rather than the baseline — see what your points are really worth.
Pros and cons
- 6x at MGM Rewards destinations
- $200 resort credit every year
- Automatic Pearl status
- No foreign transaction fees
- $249 annual fee
- Resort credit must be redeemed in person
- Points only useful at MGM properties
The welcome bonus
New cardholders can earn up to 45,000 points, worth $450: 30,000 after $5,000 in the first 3 billing cycles and 15,000 more once spending reaches $7,500 in 6 cycles.
Is it worth the annual fee?
The $249 annual fee is offset by a $200 resort credit at account opening and each anniversary, applied to room charges at an MGM property. Add the Global Entry credit and Priority Pass digital membership and an MGM regular comes out ahead. The credit has to be redeemed in person at the MGM Rewards desk.
First-year value vs ongoing value
| Welcome bonus | Up to 45,000 points ($450) |
| To earn it | 30,000 after $5,000 in the first 3 billing cycles, 15,000 more at $7,500 in 6 cycles |
| Est. first-year value* | $1,273 |
| Est. ongoing value / yr* | $823 |
The welcome bonus makes year one the high point: roughly $1,273 in value once you count the bonus, this card’s rewards, and its credits, minus the $249 fee. After that, the honest figure is about $823 a year, so judge whether it earns its keep on the ongoing number, not the first-year headline.
*First-year value counts the welcome bonus, estimated rewards, and annual credits, minus the annual fee; ongoing value is a typical year after. Every point at a flat 1 cent, on average spending.
Benefits and protections
Beyond the rewards, the perks and protections worth knowing about include:
- $200 resort credit at account opening and every anniversary
- Automatic MGM Rewards Pearl status
- No foreign transaction fees
Statement credits
- $200 MGM resort credit on account opening and each card anniversary
- Complimentary night (up to $250) each anniversary after $25,000 in annual spend
- Global Entry or TSA PreCheck fee credit ($120 value) every 4 years
- Priority Pass Digital Lounge Membership ($99 value)
Who should get it, and who should skip it
Get the Iconic card if you visit MGM properties every year. The resort credit, Pearl status, and 6x on MGM spending make it worthwhile.
Occasional visitors should consider the no-fee MGM Rewards World Elite instead.
Alternatives to the MGM Rewards Iconic World Elite Mastercard®
Pairs well with
The MGM Rewards Iconic World Elite Mastercard® earns the most in its bonus categories, so pair it with a no-fee flat-rate card to cover everything it only earns a base rate on.
Frequently asked questions
Best-card guides featuring this card
How does it rank for your spending?
Every card is ranked by what it actually returns on the way you spend. Run your numbers and see where the MGM Rewards Iconic World Elite Mastercard® lands.
Calculate My CardOffer details verified against issuer sources as of October 2026. Editorial opinions are our own. Cardocrat values all points at a flat 1 cent and never inflates redemptions.
