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We’ve previously introduced the Caesars Rewards Visa Signature® Card and how it can be a good fit if Caesars Rewards is your preferred gaming loyalty program. For years, that was the only credit card option available to Caesars fans. But as more premium credit cards continue to enter the market, there’s a new one to consider.
The Caesars Rewards® Prestige Visa Signature® Card offers even more perks — including Caesars Platinum status on your first eligible purchase in 90 days, plus a pathway to earning coveted Caesars Diamond status. But is it worth the $149 annual fee? Let’s take a closer look at what the new card has to offer.
What to Know About the New Caesars Rewards Prestige Visa Signature® Card
The Caesars Prestige Card comes with a $149 annual fee, which is a big step up from the original no-annual-fee Caesars credit card. So, what do you get in exchange for paying an annual fee?
Sign-up bonus
The Caesars Prestige Card offers a sign-up bonus of 20,000 Reward Credits and 2,500 Tier Credits when you spend $1,000 outside of Caesars Rewards destinations within the first 90 days of account opening.
The requirement to spend outside of the co-brand partner is a bit unusual. But this bonus is solid: 20,000 Reward Credits are worth $200 toward on-property charges at Caesars resorts, and 2,500 Tier Credits get you halfway to Platinum status — which is earned at 5,000 Tier Credits.
The no-annual-fee card currently offers 10,000 Reward Credits and 2,500 Tier Credits for the same spending requirement. So, the additional $100 in value offsets much of the annual fee difference — at least for the first year.
Rewards on spend
The Caesars Prestige Card offers elevated earning rates on Caesars Rewards purchases. You’ll earn:
- 7 Reward Credits per $1 spent at Caesars Rewards destinations
- 2 Reward Credits per $1 spent on dining, travel, and entertainment
- 1 Reward Credit per $1 spent on everything else, including cash advances
The no-annual-fee version earns 5 Reward Credits per $1 spent at Caesars Rewards destinations and the same rates in other categories. So, while the extra 2 Reward Credits per dollar is a nice boost, you’d need to spend around $7,450 per year at Caesars properties to break even on the annual fee (outside of the sign-up bonus).
Platinum status on first purchase
New cardholders of the Caesars Prestige Card will be upgraded to Platinum status after making their first purchase within the first 90 days after opening their account. This elite status tier typically requires earning 5,000 Tier Credits.
The fine print notes that this status upgrade may take up to two billing cycles to be processed. But it will then be valid for the remainder of that calendar year. If you're aiming for Platinum status, you may want to wait until the start of a new year before applying for this card. But there's also good news if you're aiming for higher tiers of status.
Tier Credit bonuses
In addition to getting Platinum status, the Caesars Prestige Card also unlocks additional opportunities to earn bonus Tier Credits, helping you climb the Caesars Rewards status ladder faster. You’ll earn:
- 2,500 Tier Credits for spending $5,000 or more in a calendar year
- 2,500 Tier Credits for spending $10,000 or more in a calendar year
- 15,000 Tier Credits for spending $50,000 or more in a calendar year
Platinum status is earned at just 5,000 Tier Credits. That means you'll unlock (or keep) this status with just $10,000 in annual spending on the card. Even more appealing: Caesars Diamond is earned at 15,000 Tier Points, so you'll be able to earn this status with $50k in spending on the card.
Diamond is a valuable status if you visit Vegas regularly, as it waives resort fees at Caesars properties. This can easily save you $50 or more per night, depending on where you stay. Additional perks include a $100 Celebration Dinner each year, reduced or complimentary hotel rates, and more.
In the past, I held Diamond status via FoundersCard — which previously offered it as a benefit. I can personally vouch for the value it adds when visiting Las Vegas.
Additional benefits
The Prestige Card includes several new perks to help justify the higher annual fee. These include:
- $50 slot play annually at Caesars Rewards destinations
- $100 dining credit annually at Caesars Rewards destinations
- One complimentary hotel night annually (up to $300)
- No cash advance fees or foreign transaction fees
- Automatic Platinum status when you make a purchase within 90 days of account opening
A few of these benefits can easily make the annual fee worthwhile. If you are applying for this card, there is a good chance you enjoy visiting casinos. The $50 slot play credit each year is a nice way to start any Vegas trip. The $100 dining credit is also a nice perk, too, though it may not go very far at restaurants on the Strip.
The complimentary hotel night each year (valued up to $300) is also something that could be especially useful. Keep in mind that it does not cover taxes and fees, so there will be some out-of-pocket cost. However, if you earn Diamond status, you may be able to stack this benefit with casino rates or upgrades for an even better value.
Lastly, the card’s lack of cash advance fees is a unique feature that could appeal to gamblers who want quick access to funds. That said, always remember to gamble responsibly.
Our Take
It’s clear that Caesars Rewards has been considering a more premium credit card offering for some time. The new Prestige Card delivers a solid mix of extra benefits for frequent Las Vegas visitors.
However, its usefulness is fairly limited outside of Caesars' properties. Rewards must be redeemed on-site, and all benefits are tied to the broader gambling program. If you’re looking for a credit card specifically for Las Vegas, this one may be worth considering.
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