Comenity Bank (Bread Financial), in partnership with Caesars Rewards, launched the new Caesars Rewards® Prestige Visa Signature®, a $149 annual fee credit card offering bonus Tier Credits, casino perks, and even direct funding for Caesars online gambling. I make a case for why this card should be considered and explain why I aim to add it to my wallet.
Welcome Offer & Bonus Structure
The new Caesars Rewards Prestige Visa Signature Credit Card currently offers a welcome bonus of 20,000 Reward Credits (about $200 value in comps, or online gambling freeplay), automatic Platinum status after making your first purchase, and 2500 Tier Credits after $1000 spending outside Caesars Rewards properties.
Compared to other credit cards, this welcome bonus is low, but this, in addition to other benefits I’ll explain, can be valuable for those who already have many credit cards and value casino statuses and tier matching.
🏨 Earning Rewards and Tier Credits
The best bonus category for spending on this new card is 7x at Caesars properties, not bad even when valuing Reward Credits at one cent per point, considering other cards may bonus general travel at 3x and have points worth more than a cent per point.
The 2x earning on dining, travel, and entertainment isn’t groundbreaking—but for those engaging in high-volume creative spending, it will hold value, especially when pairing with a 1.5–2% cashback debit card that allows for credit card payments.
Even spending at 1x, ‘everywhere else spend,’ that spend, and the spend in other bonus categories, qualifies toward status earning: likely the most appealing feature of this new card. Because America loves math (and status), you can earn 20,000 Tier Credits annually—enough to reach Diamond status purely through credit card spend.
This chunk of 20,000 Tier Credits can also help cardholders progress towards Diamond Plus, Diamond Elite, and Seven Stars, saving money that would otherwise theoretically be lost with most gambling.
The new card has various spending milestones that total 20k Tier Credits: spend $5000 in a calendar year to get 2500 Tier Credits, spend a total of $10,000 in a calendar year to get another 2500 Tier Credits, and spend a total of $50,000 in a calendar year to get 15,000 Tier Credits.
In addition to the Tier Credit bonuses, the new credit card also awards $50 in annual free slot play, a $100 annual dining credit (double Celebration Dinner, anyone?), and a comp hotel night valued up to $300 “anniversary bonus + annually” (calendar year?).
💸 Cash Advance Perks—Or Pitfalls?
The new credit card also has no cash advance fees and gives 1x Reward Credits on cash advances. Note that cash advances are not considered purchases for terms of this card earning status, but cardholders may now use the Caesars Rewards Prestige Card to fund Caesars (or Caesars’? RIP Darryl) online gambling sites.
However, proceed with cash advance caution because, to my understanding, cash advances begin accruing APR after transactions occur even though there are no fees for the original cash advance. If I were to load online gambling sites, I would pay the balance in full as soon as possible to reduce charges.
The small charges, if immediately paid in full, would be offset by the 1x Reward Credit earning, but this would admittedly result in a small edge. This can make sense towards the end of a statement period where you don’t have additional purchases to place on the credit card and ideally would be paired with a deposit or play bonus.
The cash advance portion is a weak element of this card, especially when MGM credit cards (the older no annual fee card and the new MGM Iconic count BetMGM loads as purchases with no cash advance fees). War on happiness!
🚫 Cardholder Limitations & Product Change Woes
Another lamentable aspect of this new credit card are terms that state that cardholders “can only have one (1) Caesars Rewards credit card at the same time.”
Limiting cardholders to only one Caesars credit card is a horrible decision in my opinion because, I would think, the most likely people to apply for this new Caesars credit card already have the old no annual fee Caesars credit card. A more reasonable approach would mirror FNBO’s and MGM Rewards’ strategy: allowing one welcome bonus per card type per year, and allowing people to hold multiple different products.
Considering the one card rule and my wanting this new card, I called Comenity’s customer service line with hopes to product change or upgrade, even without a bonus, and had quite the South Park moment when customer service told me to call customer service, of course creating a Customer Service Vindaloop (and not giving me satisfactory customer service). One customer service agent even told me to call Caesars Rewards (which made no sense) and transferred me to the hotel reservations line.
Eventually, I was told that I should log into my existing Caesars Rewards Visa account on July 23rd and/or call in for the potential to product change or upgrade. Others also reported this datapoint. In upgrading, I will sacrifice a signup bonus, but save a hard inquiry and avoid the possible outcome of cancelling the old Caesars Rewards Visa and later being declined for the new credit card due to reasons like ‘too many recent inquiries’ or ‘too many opened accounts’ given my recent app-o-rama of applying for seven cards in the same day.
🔁 Final Thoughts: Who Should Get This Card?
Overall, I like this new Caesars Rewards Prestige credit card, but don’t love it. I like the potential to spend for big bumps in Tier Credits, but don’t like the cash advance terms, the one card rule, and the rollout which didn’t allow a product change or upgrade. Hopefully, Comenity makes up for the bad rollout by allowing existing Caesars Rewards Visa cardholders like myself to upgrade on July 23, 2025, especially offering a bonus for continued loyalty and/or use of the older credit card.
I would encourage gamblers and those simply interested in status and tier matching to consider this new card, mainly for the status earning potential that will allow for Diamond status solely through credit card spend or boosts to higher status levels. If history repeats itself, other casinos will offer new tier matching opportunities, and this Caesars Rewards Diamond status will be worth even more.
For a deeper dive into the Caesars Rewards Prestige credit card, please listen to my recent full-length Hurdy Gurdy Travel Podcast episode with co-host Darren Remsburg.
