Barclaycard Priceline Visa (old product discontinued for new applications)
Last updated December 20, 2013.
The Facts
1.2 cent per point for a transaction greater or equal to $200 and less than $400;
1.3 cent per point for a transaction greater or equal to $400 and less than $600;
1.4 cent per point for a transaction greater or equal to $600 and less than $800;
1.5 cent per point for a transaction greater or equal to $800;
The Math
Not much Math here. This card is very similar to FIA Fidelity Amex in that you essentially get unlimited 2% cashback without paying an annual fee. The Priceline Visa's advantage lies in that: (1) you earn an extra 3x on NYOP; (2) you get up to 1.5 cent per point (up to 3% cashback on general spending) when redeeming towards NYOP purchases; (3) more merchants accept Visa than Amex. Fidelity Amex's strength is that it is real "cashback" with absolute no restriction at all.
The Conclusion
Priceline Visa is already a star even if you don't do NYOP at all. It will have FIA Fidelity Amex beaten hard if you master NYOP, especially when you have large NYOP transactions to redeem points. As we consider Fidelity Amex as a benchmark, there was no reason not to place Priceline Visa on our Top List. However, that did not last long since it was discontinued for new applications after Q2 2013.
The Facts
- Annual Fee: none
- Signup Bonus: none
- Rewards: 5x Priceline.com "Name Your Own Price" (NYOP, generally known as Priceline bidding), 2x everywhere else
- Best Use of rewards points: Actually you can only redeem points as a statement credit toward your purchase. The redemption rate is 1 point = 1 cent for most purchases and can be up to 1.5 cent for NYOP purchases. You need to have at least 2,500 points before you can redeem for anything. You also need to redeem enough points to cover a single transaction. For example, if the transaction you want to redeem for is $45.15, you need to have at least 4,515 points in your account and you must redeem exactly 4,515 points. Points expire after 4 years. Neither Priceline or Barclays has published the redemption rate for NYOP purchases, but the reports indicate that it follows this scheme:
1.2 cent per point for a transaction greater or equal to $200 and less than $400;
1.3 cent per point for a transaction greater or equal to $400 and less than $600;
1.4 cent per point for a transaction greater or equal to $600 and less than $800;
1.5 cent per point for a transaction greater or equal to $800;
- You essentially achieve 3% cashback on general spending if you have a single NYOP transaction at least $800! So this could be the king of cashback, at least on paper.
- Other Facts: The Priceline Visa has gone through major changes twice in recent years. Before Q1 2011, the card only returned 1x on general spending. Between Q1 2011 and Q2 2013, the card returned 2x on general spending and was on our Top List. After Q2 2013, the card was changed back to offer only 1x on general spending.
The Math
Not much Math here. This card is very similar to FIA Fidelity Amex in that you essentially get unlimited 2% cashback without paying an annual fee. The Priceline Visa's advantage lies in that: (1) you earn an extra 3x on NYOP; (2) you get up to 1.5 cent per point (up to 3% cashback on general spending) when redeeming towards NYOP purchases; (3) more merchants accept Visa than Amex. Fidelity Amex's strength is that it is real "cashback" with absolute no restriction at all.
The Conclusion
Priceline Visa is already a star even if you don't do NYOP at all. It will have FIA Fidelity Amex beaten hard if you master NYOP, especially when you have large NYOP transactions to redeem points. As we consider Fidelity Amex as a benchmark, there was no reason not to place Priceline Visa on our Top List. However, that did not last long since it was discontinued for new applications after Q2 2013.