I’ve had this card since June 2012. In terms of earning and redeeming cash back, it’s one of the simplest I’ve ever had. 2% cash back is on everything, every day. No annual fee. No dollar caps. No special categories (except 5% cash back on Priceline Name Your Price purchases, which I haven’t done yet). It’s a Visa, accepted everywhere.
Other cards typically post rewards when the statement cycle closes, and sometimes delayed by one month. This card posts rewards as soon as the purchase posts. The rewards are available to use right away. Here’s a screenshot from my account:
$1 spending earns 2 reward points. 1 point is worth $0.01. You redeem the reward points as a statement credit against recent purchases. Very simple: no gift cards, no check in the mail.
You pick a charge over $25 in the last 30 days. If you have enough reward points, you can redeem the points as a statement credit to cover that charge.
I can’t ask for a statement credit against the $8.41 charge from Netflix because it isn’t over $25. The other two are greyed out because I don’t have enough points yet after my recent redemption.
The points must cover a purchase in full. If I have 5,000 points, I would be able to get a $30.39 credit to offset the charge from The Home Depot, but not the $89.96 charge from Amazon.
I like Priceline Rewards Visa for its simplicity and wide acceptance. I only hope it will stay at 2% cash back forever. There is no indication it won’t but as we all know things change. As long as you understand all reward programs are subject to change at any time and you are willing to ride along while it’s going, it’s a great catch-all card. I use an American Express card for gas and groceries, this one for everything else.
If the program changes in the future, there’s also the chance that existing customers will be grandfathered. I will keep using it as long as it stays at 2% cash back. I still have the Escape by Discover card as a backup.
Links are referral links. If you use the link to apply for a card the issuer Barclays Bank will pay me a referral fee but you are not getting any less than if you go to them directly. There is a small $50 sign-up bonus. If you don’t like seeing William Shatner on the card, pick the other design without him when you apply.