Caesars Debuts Premium ‘Prestige’ Card: $149 Fee, New Perks

Caesars Entertainment is introducing a new credit card with an annual fee to its lineup, betting that its loyal customers are willing to pay extra in exchange for more perks and richer rewards when spending money at its properties.

Issued by Bread Financial’s Comenity Bank, the Caesars Rewards Prestige Visa Signature credit card will carry a $149 annual fee and offer on-property benefits that Caesars says are worth up to $450 in annual value. Some of the benefits include bonus rewards on spending at Caesars Rewards destinations, a complimentary hotel night each cardmember year after the first anniversary and ways to earn tier credits toward elite status.

The new card offering comes just three months after competitor MGM Resorts launched its own premium card, the MGM Rewards Iconic World Elite Mastercard, albeit with an even higher annual fee.

One of the most notable benefits of the Caesars Rewards Prestige Visa is the ability for cardholders to spend their way to Caesars Rewards’ high-level Diamond tier status by charging $50,000 a year to their card. Adding a spending threshold to access certain benefits has become increasingly common for travel credit cards, as brands seek to reward customers who are willing to put high amounts of spending on their co-branded credit card products.

It’s also in response to customer feedback for more ways to earn Caesars tier status, says Megan Rodriguez, senior vice president of loyalty and CRM at Caesars Entertainment.

“That’s something we really leaned into in this card … to facilitate people to start earning status with us beyond our traditional ways,” she says in an interview with NerdWallet.

If you’re a big spender chasing Caesars Rewards elite status or someone who visits a Caesars property at least once a year, this card might make sense for you. Here’s everything you need to know about the new Caesars credit card.

Caesars Rewards Prestige Visa Signature Credit Card: What it offers

Annual fee: $149.

Welcome offer: Upgrade to Platinum status for the rest of the program year after your first purchase within 90 days. Additionally, earn 2,500 tier credits after your first purchase outside of Caesars Rewards destinations within 90 days. Plus, earn 20,000 reward credits and 2,500 more tier credits after spending $1,000 outside of Caesars Rewards destinations within 90 days.

Rewards:

• 6 reward credits per $1 spent at Caesars Rewards destinations. All Caesars Rewards members earn 1 reward credit per $1 spent at Caesars properties, so cardholders earn a total of 7 reward credits per $1 spent in this category.

• 2 reward credits per $1 spent on restaurants, travel and entertainment.

• 1 reward credit per $1 spent everywhere else and on cash advances.

Additional benefits:

• Complimentary hotel night (up to $300 in value), starting after your first cardholder anniversary.

• $100 dining credit at Caesars Rewards destinations.

• $50 in Slot Play at Caesars Rewards destinations.

Spending bonuses:

• Earn 2,500 tier credits after spending $5,000.

• Earn an additional 2,500 tier credits after spending $10,000.

• Earn an additional 15,000 tier credits after spending $50,000.

The three-part welcome offer on the card won’t wow anyone, but the minimum spending requirement is also relatively low at $1,000 within 90 days. To earn reward and tier credits, you must be at least 21 years old and enrolled in the Caesars Rewards program.

However, because the Platinum status that comes after your first purchase is only good through the end of the program year (Jan. 31 of the following year), you’ll likely want to time your application toward the beginning of the year to maximize the status, or at least have some trips planned to Caesars properties in that time span.

One upside to Caesars Rewards is its partnership with Wyndham Rewards, allowing you to transfer up to 30,000 points each year between the two programs at a ratio of 1 Caesars Rewards reward credit to 1 Wyndham Rewards point. NerdWallet values Wyndham Rewards points at 1.2 cents apiece, making it a solid way to get more value out of your reward credits.

» Learn more: The complete guide to Wyndham Rewards

Is the Caesars Rewards Prestige Visa worth it?

If you don’t visit a Caesars Rewards destination at least once a year, you might want to consider other card options. However, if you’re a Caesars regular who doesn’t shy away from an annual fee, this new card may be worth a spot in your wallet.

Here are some reasons why the annual fee might be worth it for some Caesars enthusiasts:

Perks that pay for the annual fee

The Caesars Rewards Prestige Visa offers credits that are worth $450 — more than triple the annual fee — but their actual value depends on whether you use them. Because they’re only redeemable at Caesars properties, you should have annual trips planned in order to get the most out of this card.

For example, some of the card’s perks include annual benefits like $50 in Slot Play and a $100 dining credit at participating restaurants. After your first cardholder anniversary, you’ll also get a complimentary hotel night each year worth up to $300 in value. Resort fees still apply, unless you have Caesars Diamond elite status or higher, which offers waived resort fees as a benefit.

Casinos often provide comps — free items or services to encourage more gambling — so if you already receive these offers, these credits may not be as beneficial to you. You’ll want to take that into consideration when deciding to open the card.

If you’re not already earning those offers, then the perks on this card, such as the automatic Platinum status offer and the Slot Play credit, can be a good introduction to what Caesars Rewards has to offer, Rodriguez says.

“It gets people to try something that they haven’t tried before, and maybe they’ll realize that’s what this industry is all about, and it’s a lot of fun,” she says.

Fast track to elite status

The introduction of the Caesars Rewards Prestige Visa brings both good and bad news for tier status chasers.

Previously, those with a no-annual-fee credit card from Caesars could spend $5,000 on the card in a calendar year and earn 5,000 tier credits — enough to qualify for Caesars Platinum status.

Effective Jan. 1, 2026, that number will be halved to 2,500 tier credits for $5,000 in spending, matching the offering on the Caesars Rewards Prestige Visa. Those with the no-annual-fee Caesars card will not be able to earn additional tier credits, even if they spend more on the card.

Instead, you’ll need the premium card to earn more tier credits. You’ll earn an additional 2,500 tier credits after spending $10,000 and an extra 15,000 tier credits after spending $50,000.

That means you’ll be able to reach Diamond status (15,000 tier credits required) through credit card spending alone, which wasn’t possible before. If you max out the tier credits earned from spending, that would give you 20,000 tier credits, 5,000 short of Diamond Plus status. However, the tier credits from the welcome offer can make up for that difference in your first year of holding the card.

Think twice before you pursue status via credit card spending. Charging $50,000 on any credit card is a tall order, especially when you might be able to earn more rewards with a different credit card.

» Learn more: NerdWallet's picks for the best travel credit cards

Improved earning rates at Caesars

If you find yourself spending a lot of money at Caesars properties, the higher 6x multiplier might be attractive to you. That’s 50% higher than the 4x multiplier offered on the no-annual-fee credit card. (Keep in mind these multipliers are on top of the 1 reward credit per $1 you earn as a Caesars Rewards member.)

However, both cards earn 2 reward credits per $1 spent on restaurants, travel and entertainment, as well as 1 reward credit per $1 spent elsewhere.

Extend the validity of your Caesars reward credits

One major perk of holding a Caesars Rewards credit card is the ability to keep your reward credits from expiring. That’s because Caesars reward credits expire after six months of inactivity. If you don’t earn at least one reward credit every six months, you will lose your entire balance.

As long as you are making purchases regularly with your Caesars Rewards credit card, you’ll earn reward credits that extend the validity of your balance. This is true whether you’re using the Caesars Rewards Prestige Visa or the no-annual-fee version.

Alternative credit card options

If you enjoy Caesars but want something broader: Wyndham Rewards cards

Occasional Caesars visitors may want to consider a Wyndham Rewards credit card, instead, because they can earn more points on some categories (especially on everyday purchases like gas and groceries), and then transfer their Wyndham points to Caesars Rewards.

Wyndham Rewards' suite of credit cards includes both a no-annual-fee option and one that has a fee but offers extra perks like anniversary points and higher rewards earning rates. Both come with elite status in the Wyndham Rewards loyalty program.

If you don’t want to pay the annual fee: Caesars no-annual-fee card

Those who don’t want to pay an annual fee but still want to maximize their earnings at Caesars should look into the Caesar Rewards Visa Signature credit card. It won’t come with the splashy perks of its premium counterpart, but it still offers elevated points earning at Caesars properties.

Plus, you’ll still be able to extend the validity of your reward credits through spending on this card, which makes it an attractive and low-commitment option for those who want to maintain their Caesars balances.

If you want the most flexibility: Cards that earn transferable rewards

Credit cards that earn transferable rewards give you maximum flexibility with how you redeem your points. Instead of accruing them in a specific loyalty program, you’re able to transfer them to a number of loyalty programs that the credit card’s bank partners with.

» Learn more: 6 reasons transferable points are worth more

For example, the Citi Strata Premier® Card has a $95 annual fee and allows you to earn 3 Citi ThankYou points per $1 spent on air travel, hotels, restaurants, supermarkets and gas. You can then transfer points you earn on that card to its partners, which include Wyndham Rewards as well as other airline and hotel programs.

That way, you’ll have more control over how you want to spend your points, whether it’s booking flights or hotel stays.