As a frequent traveler and gaming enthusiast, you’ve probably come across loyalty programs that promise lavish perks, exclusive access, and luxurious upgrades. MGM Rewards, the loyalty program of MGM Resorts, is no different. With benefits that range from complimentary parking to cruise vacations, the allure of climbing the tier ladder can be enticing. But is it worth it? Let’s break down the value of MGM’s tier credit system, using both the benefits listed on the official MGM Rewards website and an analysis of the financial implications based on real-world scenarios.
Understanding MGM’s Tier Structure
MGM Rewards operates on a tiered system, where members can ascend from Sapphire to Pearl, Gold, Platinum, and finally, Noir. Each tier unlocks progressively better benefits, from free self-parking at the Pearl level to annual cruise benefits at the Platinum level.
- Sapphire: Base level, with basic perks.
- Pearl: Includes benefits like free self-parking.
- Gold: Adds perks like dining credits, waived resort fees, and enhanced room experiences.
- Platinum: Offers top-tier benefits, including air travel credits and suite upgrades.
- Noir: An invite-only level with the most exclusive perks.
For those dedicated to MGM properties, aiming for higher tiers could translate to significant savings and elevated experiences during their stays. However, the critical question remains: Is the effort to accumulate tier credits worth the benefits?
The Financial Breakdown
To answer this question, we’ve conducted a detailed analysis, comparing the cost savings and benefits associated with each tier over different periods—1 day, 7 days (2 trips), 14 days (4 trips), and 28 days (6 trips).
- Pearl Tier: At this level, the primary benefit is free self-parking, valued at $20 for a single day. Over a series of stays amounting to 28 days, this perk can save you up to $560. While this is a tangible benefit, it pales in comparison to the value unlocked at higher tiers.
- Gold Tier: Gold members start to see more substantial perks. Dining credits ($100 annually), waived resort fees ($40 per night), enhanced rooms, and priority check-in offer a combined value of $157 for a single day. For frequent visitors, the savings can accumulate rapidly, reaching $1,652 over 28 days. Notably, the waived resort fees alone cover $1,120 of this amount, making Gold a desirable target for those planning multiple trips.
- Platinum Tier: The Platinum level introduces more substantial perks, such as a $600 air travel credit and an annual cruise benefit worth $500. Additionally, suite upgrades, complimentary late checkouts, and early check-ins offer further value. The combined benefits for a single day reach $1,530, escalating to $2,230 over 28 days. Clearly, the Platinum tier offers significant savings and luxurious perks, making it an attractive goal for high spenders.
Evaluating the Value Proposition
Let’s start by noting that, in some cases, these numbers are rough estimates of that values gained. For instance, if you never use parking in Las Vegas, then the free parking value for you would be $0. Having said that, let’s dig into the values. The table reveals that moving up from Pearl to Gold and then to Platinum can provide substantial value, especially for frequent travelers. For example, if you plan on staying at MGM properties for 28 days over a year (broken into six trips), reaching the Platinum level could save you $4,442 in benefits—a considerable return on investment.
| Tier | 1 Day | 7 Days (2 Trips) | 14 Days (4 Trips) | 28 Days (6 Trips) |
|---|---|---|---|---|
| Pearl | $20 | $140 | $280 | $560 |
| Gold | ||||
| Tier Status Dining Credit | $100 | $100 | $100 | $100 |
| Resort Fee | $40 | $280 | $560 | $1,120 |
| Enhanced Room | $15 | $105 | $210 | $420 |
| Priority Check-In | $2 | $4 | $8 | $12 |
| Gold Total | $157 | $489 | $878 | $1,652 |
| Platinum | ||||
| Air Travel Credit | $600 | $600 | $600 | $600 |
| Annual Cruise Benefit | $1,000 | $1,000 | $1,000 | $1,000 |
| Tier Status Dining Credit | $200 | $200 | $200 | $200 |
| One Suite Upgrade | $150 | $450 | $450 | $450 |
| Complimentary Late Checkout | $40 | $80 | $160 | $240 |
| Complimentary Early Check In | $40 | $80 | $160 | $240 |
| Platinum Total | $2,030 | $2,410 | $2,570 | $2,730 |
| TOTAL | $2,207 | $3,039 | $3,728 | $4,942 |
However, reaching these tiers requires spending or earning tier credits, typically at a rate of 1 tier credit per dollar spent. Therefore, achieving Gold status, which requires 75,000 tier credits, would mean spending $75,000, while Platinum, at 200,000 tier credits, requires $200,000 in spending.
So, how do you determine if it’s worth pushing for these tiers?
The Cost-Benefit Analysis
If you’re already planning on spending a significant amount at MGM properties or affiliated businesses, the perks associated with higher tiers can provide excellent value. However, if you’re contemplating spending specifically to reach the next tier, it’s essential to weigh the costs versus the potential benefits.
For instance:
- Gold Tier: If you’re likely to stay at MGM properties for at least 14 days in a year, the Gold tier’s benefits could save you nearly $878. Considering you’d need to spend $75,000 to achieve Gold status, the perks would cover a small fraction of this amount. However, if you’re close to reaching Gold status, it might be worth a few extra expenditures to unlock these benefits.
- Platinum Tier: With $4,442 in benefits over 28 days, the Platinum tier offers substantial perks. Yet, with a required $200,000 spend to achieve this status, the benefits still only cover a small portion of the spend required. Nevertheless, if you’re a frequent traveler or can take full advantage of the annual cruise benefit and air travel credit, Platinum status might be more justified.
Should I Push for Platinum Status?
I write this blog as I wonder if it’s worth it to push my credit card spending to help achieve Platinum status.
If you find yourself in a situation similar to mine, where you visit Las Vegas for about two weeks each year and currently hold 100,197 tier credits, the question of whether to push for Platinum status is crucial. To reach Platinum, you’d need to accumulate an additional 99,803 tier credits, which translates to a significant amount of spending—approximately $99,803, given the rate of 1 tier credit per dollar spent.
To reach this level, you would need to earn an additional 99,803 tier credits, which translates to $99,803 in spending. This spending would unlock approximately $2,070 in Platinum-level benefits over your 14-day stays. In addition to these perks, you’d also earn about $998.03 in rewards points from the spending itself, bringing the total value unlocked to $3,068.03.
To calculate the value per dollar spent, we divide “Total Value Unlocked” divided by “Additional Spending Required”. So, we have $3,068.03 divided by $99,803 which equals 3.07 cents per dollar spent. Thus, for every dollar you spend to reach Platinum, you’re unlocking about 3.07 cents in total value. This includes both the Platinum perks and the rewards points. While this is a decent return, it may or may not be worth it unless you’re able to fully take advantage of the Platinum-level benefits over the course of your trips.
Final Thoughts: Is It Worth It?
The MGM Rewards program offers considerable value for those who can take full advantage of the perks. If you’re already spending at MGM properties or affiliated locations, it may be worth pursuing higher tiers for the additional benefits. However, if you’re considering spending extra just to reach the next tier, a careful cost-benefit analysis is crucial.
Ultimately, the value of tier credits is highly individual, depending on your travel habits, spending patterns, and how much you value the perks offered. For some, the peace of mind and luxury of top-tier benefits might be worth the expenditure, while for others, it might be more strategic to enjoy the perks of lower tiers without pushing for the next level.
In conclusion, MGM’s tier system is designed to reward loyalty, and for those who frequently visit their properties, the benefits can be substantial. However, before committing to chasing tier credits, it’s essential to ensure that the rewards outweigh the costs.