MGM Rewards Iconic World Elite Mastercard®
FNBO and related product names are trademarks of their respective owners. Madeen is not affiliated with, sponsored by, endorsed by, or acting on behalf of FNBO. Madeen is an independent credit-card comparison and education service. Issuer websites control current terms, fees, and eligibility.
How we calculate effective rate →
The MGM Rewards Iconic World Elite Mastercard® from FNBO earns up to 2% effective value on grocery in Madeen's catalog snapshot. Its annual fee is $249. New applicants may see: Earn 30,000 Bonus Points ($300 value) after spending $5,000 in the first 3 billing cycles of account opening.
- Top category
- Grocery
- Effective value
- 2%
- Annual fee
- $249
Best for grocery-heavy spend when the $249 fee fits your usage; confirm issuer terms before applying. Best for spenders who put meaningful volume in grocery and can earn 2x points. The welcome bonus can help if you can meet the spend requirement. Travel perks may add value beyond the earn rate.
What does the MGM Rewards Iconic World Elite Mastercard earn in each category?
Grocery is the strongest category at 2% effective value (2x points at about 1 cents each). That grocery rate ranks higher than about 69% of the 2,855 cards we track in that category. The five-category effective-rate table on this page shows how MGM Rewards Iconic World Elite Mastercard compares across dining, grocery, gas, travel, and other spend. Catalog spend signals.
Grocery is the strongest category at 2% effective value (2x points at about 1 cents each). That grocery rate ranks higher than about 69% of the 2,855 cards we track in that category. The five-category effective-rate table on this page shows how MGM Rewards Iconic World Elite Mastercard compares across dining, grocery, gas, travel, and other spend.
| Category | Earn rate | Effective value |
|---|---|---|
| Dining Restaurants, cafes, takeout | 1x points | 1% |
| Grocery Supermarkets and grocery stores | 2x points | 2% Top category |
| Gas Gas stations and fuel | 2x points | 2% |
| Travel Flights, hotels, transit | 2x points | 2% |
| Other General everyday spend | 1x points | 1% |
Madeen values MGM Rewards at about 1 cents each. Madeen compares every card using this cash-equivalent estimate while still showing the raw earn rate for context.
What are the MGM Rewards Iconic World Elite Mastercard reward caps and conditions?
The MGM Rewards Iconic World Elite Mastercard has 3 notable cap or condition rule(s) in Madeen's catalog, including activation windows, spend limits, and category exclusions. Review each bullet below before assuming unlimited earn rates.
- 2X - Earn 2 points and 2 tier credits per $1 spent on gas
- 2X - Earn 2 points and 2 tier credits per $1 spent at supermarkets
- 2X - Earn 2 points and 2 tier credits per $1 spent at hotels
Who should get the MGM Rewards Iconic World Elite Mastercard?
The MGM Rewards Iconic World Elite Mastercard fits spenders who put meaningful volume in grocery and can earn 2x points. Best for spenders who put meaningful volume in grocery and can earn 2x points. The welcome bonus can help if you can meet the spend requirement. Travel perks may add value beyond the earn rate.
MGM Rewards Iconic World Elite Mastercard fits spenders who put meaningful volume in grocery and can earn 2x points. Madeen ranks its grocery effective rate higher than about 69% of the catalog in that category. Compare it against cards you already carry with Madeen — no bank login required.
Best for spenders who put meaningful volume in grocery and can earn 2x points. The welcome bonus can help if you can meet the spend requirement. Travel perks may add value beyond the earn rate.
Compare it against simpler no-fee cards if you want minimum complexity.
Best for grocery-heavy spend when the $249 fee fits your usage; confirm issuer terms before applying.
Pros
- Strongest Madeen category is grocery at about 2% effective (2x points).
- No foreign transaction fee listed.
- Welcome bonus may add value if you can meet spend requirements.
- Includes travel or statement credits in our benefits snapshot.
Cons
- $249 annual fee requires enough spend in bonus categories to offset.
- Multiple caps, activations, or exclusions may limit headline earn rates.
- MGM Rewards value depends on how you redeem, not straight cash back.
What is the MGM Rewards Iconic World Elite Mastercard welcome bonus?
In Madeen's catalog snapshot, the MGM Rewards Iconic World Elite Mastercard welcome offer is Earn 30,000 Bonus Points ($300 value) after spending $5,000 in the first 3 billing cycles of account opening. Minimum spend, eligibility, and offer windows are set by the issuer and can change — confirm on the issuer application page before applying.
- Offer
- 30k MGM Rewards (~$300 estimated)
- Terms (catalog snapshot)
- Earn 30,000 Bonus Points ($300 value) after spending $5,000 in the first 3 billing cycles of account opening
- Minimum spend
- $5,000
- Window
- 3Months
Does the MGM Rewards Iconic World Elite Mastercard have an annual fee?
The MGM Rewards Iconic World Elite Mastercard has an annual fee of $249 and a foreign transaction fee of None. Confirm current fees on the issuer page before applying.
- Annual fee
- $249
- Foreign transaction fee
- None
What travel perks does the MGM Rewards Iconic World Elite Mastercard include?
The MGM Rewards Iconic World Elite Mastercard includes Trusted traveler credit, Lounge access, Complimentary Night, Free Self-Parking and more in our snapshot. Perks and benefits can change; verify coverage on the issuer site before you rely on them.
Trusted traveler credit
Global Entry or TSA PreCheck® Statement Credit valid every 4 years
Lounge access
Priority Pass™ Digital Lounge Membership
What benefits come with the MGM Rewards Iconic World Elite Mastercard?
Lyft
$1,440/yrMore rides means more adventure. Take three rides in a month with Lyft to earn a $5 credit.3* Plus, save 10% on all scheduled rides to or from U.S. airports when you pay with your World Elite or World Legend Mastercard. Offer expires 1/31/2027.
Complimentary Night
$250/yrup to $250 annually at card anniversary with $25,000 spend
Resort Credit
$200/yr$200 Resort Credit upon account opening and annually at card anniversary
Mastercard Transit Benefit
$200/yrSave when you tap and go with your eligible Mastercard and receive a $2.50 statement credit when you spend $10 or more each month at participating transit systems.
World Elite Concierge
$150/yrComplimentary 24/7 concierge agent for lifestyle needs, travel bookings and event access.
Instacart
$140/yrGroceries and more delivered in as fast as one hour. Get $10 off your second order each month, and new Instacart+ members can also get three free months of Instacart+. Offer expires 1/31/2027.
Global Entry or TSA PreCheck®
$120/yrStatement Credit valid every 4 years, credited within 6-8 weeks of the transaction
Lounge Membership
$99/yrPriority Pass™ Digital Lounge Membership
Priority Pass
$99/yrGet access to 1,700+ airport lounges worldwide and special offers and discounts in the terminal on dining, retail and spa experiences.
Peacock
$36/yrGet $3 off Peacock Premium or Peacock Premium Plus each month when you use your World Elite or World Legend Mastercard to subscribe. Watch new movies from theaters, buzzworthy original series, hit TV shows, live sports and so much more. Eligibility restrictions, exclusions and terms apply. Offer expires 12/31/2027.1
Trip Insurance
$25/yrincluding Trip Cancellation and Interruption, Trip Delay and MasterAssist. Visit card.fnbo.com/mgmrewards/mastercard/benefits for details
Global emergency services
$10/yrCall 1-800-MASTERCARD (1-800-627-8372) for 24/7 assistance to report a lost or stolen card.
Related encyclopedia topics
What annual spend bonuses does the MGM Rewards Iconic World Elite Mastercard offer?
- 10,000 Tier Credit Bonus annually at card anniversary with $25,000 spend
- Complimentary Night up to $250 annually at card anniversary with $25,000 spend
Common questions about the MGM Rewards Iconic World Elite Mastercard
Where do cardholders spend most with the MGM Rewards Iconic World Elite Mastercard?
Madeen's RewardsCC catalog snapshot shows the strongest bonus categories on groceries (2x), gas (2x), lodging (2x) for the MGM Rewards Iconic World Elite Mastercard. These are anonymized issuer category signals, not individual cardholder transactions. Route everyday spend through categories that match your habits, then compare effective rates with Madeen at checkout.
Does the MGM Rewards Iconic World Elite Mastercard have an annual fee?
The MGM Rewards Iconic World Elite Mastercard carries an annual fee of $249 in Madeen's catalog snapshot. Issuer terms can change, so confirm the current fee on the issuer's site before you apply. Madeen does not predict approval or prequalification.
What category earns the most with the MGM Rewards Iconic World Elite Mastercard?
Grocery is the strongest Madeen category for the MGM Rewards Iconic World Elite Mastercard at about 2% effective value, based on our catalog snapshot and standard point valuations. Other categories are listed in the effective-rate table on this page.
Does the MGM Rewards Iconic World Elite Mastercard charge foreign transaction fees?
The MGM Rewards Iconic World Elite Mastercard does not charge a foreign transaction fee in Madeen's catalog snapshot, which can make it stronger for purchases outside the U.S. Issuer terms still control international acceptance and other fees.
What is the MGM Rewards Iconic World Elite Mastercard welcome bonus?
The MGM Rewards Iconic World Elite Mastercard welcome offer in our snapshot: Earn 30,000 Bonus Points ($300 value) after spending $5,000 in the first 3 billing cycles of account opening. Minimum spend, eligibility, and offer windows are set by the issuer and can change.
Is the MGM Rewards Iconic World Elite Mastercard annual fee worth it?
Whether the $249 annual fee pays off depends on how much you spend in grocery and whether you use the card's benefits. Compare effective rates across the cards you already carry in Madeen.
How does the MGM Rewards Iconic World Elite Mastercard compare to similar cards?
Compare the MGM Rewards Iconic World Elite Mastercard against MGM Rewards World Elite Mastercard (2% on Grocery, $0 fee); Amtrak Guest Rewards Mastercard (5% on Dining, $0 fee); Amtrak Guest Rewards Preferred Mastercard (5% on Dining, $99 fee). Madeen ranks effective value by category and annual fee using the same catalog snapshot dated 2026-05-01.
| Card | Top category | Effective value | Annual fee |
|---|---|---|---|
MGM Rewards Iconic World Elite Mastercard This card | Grocery | 2% | $249 |
| Grocery | 2% | $0 | |
| Dining | 5% | $0 | |
| Dining | 5% | $99 | |
| Dining | 4.6% | $0 |
Store-specific guides
Madeen publishes merchant guides that rank cards for specific stores and services. Browse guides for grocery spend to see which cards win at checkout.
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FNBO and related product names are trademarks of their respective owners. Madeen is not affiliated with, sponsored by, endorsed by, or acting on behalf of FNBO. Madeen is an independent credit-card comparison and education service. Issuer websites control current terms, fees, and eligibility.
Madeen compares cards you add to your wallet using published catalog rules — no bank login required. Issuer pages control current fees, caps, exclusions, and eligibility; Madeen does not issue cards, make approval decisions, or provide financial advice. Apply links are temporarily hidden on madeen.app. Affiliate disclosure