ANC RED-EYE

Thanks. I couldn't find any discussion on FT about the new card. Note that the bulk of the discussion on that thread pertains to the previous version of the card which had a different points system and an annual fee of $29. There is some discussion at the bottom of the thread about the new version.

The selling point of the new version is 2 points/$ everywhere, which is a huge improvement over the previous version.

MidnightLight

I've had this card for a few months now. It's handy to have a 2% cashback Visa card, but the rewards redemption system (as ANC RED-EYE explained above) is a bit annoying. After my first month, I switched back to using my Fidelity 2% Amex for most purposes, and pull out the Priceline card only for retailers that don't take Amex.

hedgeclipper2

First post! Long time lurker!

I would be interested in this card, but I had a question hopefully someone can answer. I already have 2 Barclays cards:
Travelocity Amex - $7500 opened in Dec 2010
US Airways Premier World - $9500 opened in June 2011

Does Barclays give three accounts? Or would I be expected to use credit lines from my current two cards to "build" a new one?

Thanks!

onthego15

Could you please explain what you find to be annoying about the rewards redemption system on this card. Thanks.
I already have an AMEX Blue Cash, so I am looking for a Visa or MC with 2% cash back, and this might be the card for me if the redemptions are reasonably straightforward.

ANC RED-EYE

Not actually having the card, but having done quite a bit of checking into it yesterday, I'd sum the redemption pros and cons as follows:

Pros:
-minimum redemption is 2500 points or $25
-can redeem for any amount; do not have to be exact multiples of $25
-can redeem towards ANY purchase, not just purchases in certain categories
-redemption becomes more than a 2% rebate when redeemed towards Name Your Own Price transactions at priceline
-redemptions applied as statement credits - no need to fuss with giftcards or have an account at a certain bank/brokerage

Cons:
-you can not redeem for a smaller credit towards a larger purchase. i.e. if you have a $200 purchase and 10,000 points, you cannot redeem those 10,000 points towards that purchase; you can only redeem those points against a purchase of $100 or less. Honestly, if one plans to use this card quite a lot, then this is a non-issue, assuming you'd have multiple purchases over $25 in varying amounts with which to apply your points.
-points and card subject to cancellation if inactive for 6 months
-points expire after 4 years.

Therefore, from the sounds of things (having no personal use using this card), I think it is actually quite simple, and probably the best straight up 2% card available (from my review) for someone who plans to use the card regularly.

If the thought of finding purchases in the right amount to redeem your points is cumbersome...one strategy might be to use it to pay an online bill, where one has the flexibility to change the amount of the payment. This way you could change the amount paid to the exact amount of the points you wanted to redeem, and then make multiple payments, if necessary.

onthego15

Thanks ANC RED-EYE for all the info. ^
So, I gather that when you have 2500 or more points you have to use them towards a specific purchase, you can't use it to take $25.00 (or more) off your overall statement.
Sounds like a minor hassle, but still doable for me, as I will use the card for a variety of purchases whenever I can't get 6% from my AMEX Blue Cash.
I read the fatwallet thread as well, and your summary seems quite accurate according to what folks have reported there.

ANC RED-EYE

Your conclusion about the points redemption are exactly how I understand it after some investigation.
I also agree that it sounds like a minor hassle but totally doable for someone who plans to use the card for a variety of purchases.

onthego15

Have you applied for it yet? I will probably wait another week or two, as I got two cards in late January.

Dr_wanderlust

I have an the first generation priceline rewards card and the redemption is one of the easiest out there.

Let's say you have 3,000 points and a charge for $28.55 posts. You can use the points to "pay" for that charge (2,855 points will be deducted). At times, it has taken fewer points than I expected for the redemption although I've never called to ask why.

onthego15

I just got approval for this card (applied on April 30).

I wasn't surprised that Barclay's took a while, because they took a while with my USAir card application last year.

I was a little surprised when they called me. They needed to verify one piece of info and the the CSR asked me if I would be willing to move some of my credit limit from my Choice Privileges card to this one. I was happy to do so, so now I am approved.

The timing is great for me, because I am on the verge of passing 1 million miles and points (which is more than enough for me) and ready to move virtually all of my spending to cash back cards. ^

Dr_wanderlust

congrats! If you buy a lot of airfare, look into the Penfed travel rewards amex for 5% (or more) back on airfare purchases.

onthego15

Thanks for the suggestion, but since I have about a million miles and points now, I rarely use cash for airfare or hotels. In fact, with this card, I will shifting my spending to cash back 99% of the time as my other preferred card is the AMEX Blue Cash with its 6% cash back on grocery store purchases.

Dr_wanderlust

You can redeem points earned on the Penfed amex for gift cards at dozens of retailers, such as amazon.com. Charge airfare to Penfed amex, redeem for gift cards at major retailers -- not hotels or flights. ^

onthego15

yeah, I can do the same with my AMEX Blue Cash, and some are at a discount. It's nice to have lots of choices.

onthego15

Just completed my first statement period, and I am happy to note that my points were available for redemption immediately, both the points from my purchases and the points from my first purchase $50 bonus. Very nice!