BetMGM’s recent credit card rule changes are more than a payment method update. For many users, they weaken the appeal of MGM Rewards.
Weeks ago, BetMGM sent emails with “an updated credit card policy,” stating “new credit cards will no longer be eligible for registration,” “any cards added after March 30th, including replacement cards, will be blocked,” and “existing cards currently on file may continue to be used until they expire.”
Existing Cardholders Caught in the Middle
I previously used both the no-annual-fee MGM Rewards Mastercard and MGM Iconic credit cards for BetMGM deposits, and now have difficulties using the products I signed up for. Around the same time as the BetMGM update email, BetMGM PA’s interface noted that only three payment methods may be used on BetMGM within a 72-hour period.
Missing Payment Methods and User Friction
I looked at my past saved payment methods, and saw very old cards, but not the MGM Rewards Mastercard or the MGM Iconic credit card. After deleting past payment methods, a tedious process, just one at a time, I still don’t see the credit cards I previously used to deposit, and now cannot deposit via credit card in PA.
State-by-State Differences Add Confusion
On BetMGM NJ, I can deposit using the MGM Rewards Mastercard, but not the Iconic credit card, likely because there is no button specifically designating the Iconic credit card. I see past payment methods, but not the previously entered Iconic credit card. I can deposit using the MGM Rewards Mastercard because it shows near the top of my payment methods, but this may not last if the payment methods get shuffled as they did in PA.
Responsible Gambling or Overcorrection?
The credit card rule change implementation is creating friction for credit card users and will likely backfire on MGM, as fewer people will apply for MGM credit cards and pursue status through BetMGM. Perhaps these rule changes were made in the name of ‘responsible gambling,’ but ‘responsible gambling’ tools like account limits were already implemented in BetMGM.
Users can also irresponsibly deposit thousands (and lose) with debit cards and ACH, but for some reason, responsible credit cardholders are penalized under what appear to be legal changes in Pennsylvania and elsewhere in the name of responsible gambling.
What This Means for MGM Status Chasers
Going forward, BetMGM and MGM credit cards can still be part of MGM status acquisition, but earning status will be more difficult for many. If you previously mainly earned status from credit card spending on BetMGM, you’ll then have to pivot to credit card spending elsewhere, likely in bonus categories.
Is MGM Gold Still Worth It?
Some may choose to give up the pursuit of MGM status following these rule changes, but I think at least MGM Gold status is a reasonable spending goal with high payoff: waived resort fees, a comped cruise, potential for status matching, and more.
As always, use credit responsibly and gamble intelligently.
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