The MGM Rewards Iconic World Elite Mastercard launched in April 2025 as MGM's first premium co-branded credit card. At $249/year, it offers the $200 annual resort credit, Priority Pass digital membership, Global Entry/TSA PreCheck credit, and 6x at MGM destinations (double the no-fee card's 3x). On paper, it looks compelling. In practice, it's a card best suited to a narrow audience: MGM visitors who spend $5,000+ annually at MGM properties and can use the resort credit every year.
Earning Structure
| Category | Points + Tier Credits | Effective Value |
|---|---|---|
| MGM Rewards Destinations | 6x each | 6% back toward MGM experiences |
| Hotels (non-MGM) | 2x each | 2% back |
| Dining | 2x each | 2% back |
| Gas Stations | 2x each | 2% back |
| Grocery Stores | 2x each | 2% back |
| BetMGM Deposits | 1x (no cash advance fee) | 1% back |
| All Other Purchases | 1x each | 1% back |
| Welcome Bonus | 40,000 pts + 15,000 TC | $400+ after $5,000/3 billing cycles |
Annual Credits — Offsetting the $249 Fee
- $200 Resort Credit: Applied to room charges, dining, spa, and entertainment at participating MGM destinations. Renewed each card anniversary. If used in full, effective annual fee is $49.
- Global Entry or TSA PreCheck Credit: Up to $120 every 4 years. Offsets 48% of one year's fee by itself on application years.
- Priority Pass Digital Membership: Membership is included, but lounge visits cost $35 per visit — this is not free lounge access like you get on Amex Platinum or Venture X. The "membership" simply means you can pay $35 to enter, rather than paying full walk-in rates.
- Complimentary Night (up to $250) + 10,000 Tier Credits: Earned annually at card anniversary after $25,000 in calendar year spending — a very high threshold.
Priority Pass Is Not Free Lounge Access — Important Distinction
The Iconic card's Priority Pass digital membership charges $35 per lounge visit. This is markedly different from what most premium travel cards offer — Amex Platinum, Capital One Venture X, and Chase Sapphire Reserve all provide complimentary lounge visits with no per-visit fee. If you travel frequently and want free lounge access, the Iconic is not the right card for that benefit.
Status Acceleration
The Iconic earns 6 tier credits per dollar at MGM destinations — double the no-fee card's 3x — making it significantly faster to reach Gold (25,000 TC) or Platinum (75,000 TC) status. At 6x, $4,167 in MGM spending earns 25,000 tier credits for Gold. Both cards provide the same automatic Pearl status at account opening. Notably, the Iconic does not provide automatic Gold or Platinum status — you still have to earn it through spending.
Who Should Get the Iconic Card?
After netting the $200 resort credit, the effective annual cost is $49. At that rate, the card makes sense if you: (1) visit MGM properties at least once a year and will use the $200 resort credit, (2) spend enough at MGM destinations that 6x vs. 3x earns materially more, and (3) value the Global Entry credit in Global Entry application years. The break-even on the 6x vs. 3x earn difference (to cover the $49 net fee) requires roughly $1,633 in annual MGM spending.
Pros & Cons
What We Like
- $200 annual resort credit — nearly offsets the $249 fee if used
- 6x at MGM destinations — doubles tier credit accumulation speed
- 2x on hotels, dining, gas, and groceries — broad everyday bonus
- Global Entry/TSA PreCheck credit every 4 years
- Strong 40,000-point welcome bonus ($400+ value)
- No foreign transaction fee
What to Watch Out For
- Priority Pass charges $35/visit — not free lounge access
- Auto status is Pearl only — same as the no-fee card
- Complimentary night requires $25,000 annual spend — high threshold
- All rewards locked to MGM ecosystem
- $249 fee requires active credit usage to justify
- Points expire after 6 months of inactivity
MGM Rewards™ Iconic World Elite Mastercard®
6x at MGM · $200 resort credit · Global Entry · 40K bonus · $249/yr
Apply Now →Bottom Line
The MGM Rewards Iconic is a solid card for MGM loyalists who will use the $200 resort credit annually — the effective $49 net fee is easy to justify with any MGM stay. But it disappoints those expecting premium lounge access (the $35/visit Priority Pass is not free access), automatic high status (still Pearl-only at opening), or the broader value of a flexible travel card. Compare it against the Marriott Bonvoy cards, which include MGM properties and provide access to 8,500+ other hotels worldwide.