It appears I jumped the gun and made a post yesterday (which I have since removed) about a new Priceline Visa deal which offered up to $100 as a signup bonus: 5,000 points after your first purchase and another 5,000 points after spending $1,000 within 90 days of opening your account. This, in theory, represented an improvement over what has been offered in the past. What somehow slipped past me, however, was the fact that this new offer earns 5 points per dollar spent on Priceline.com purchases, but only 1 point per dollar spent on everything else.

With only 1 point per dollar earned on your general spending, it’s a considerably worse offer than the other version of the card. It didn’t even occur to me that they might make this drastic of a change. Fortunately, the 2 point per dollar spent offer is still available at pricelinevisa.com.

The fact that Barclays is introducing this new, underwhelming version of the card does bring up the questions of 1) will they continue to offer the 2% card for much longer and 2) if they did discontinue the 2% card, would they grandfather existing accounts? While there does appear to be a history of grandfathering old Priceline Visa cards with different terms in the past, that is a gamble. Either way, it would be sad to see another one of the best cash back cards get devalued into irrelevance.