Make a purchase, then redeem accumulated rewards points to pay for any item on your credit card, including the item you just purchased
Amplify your savings with up to quadruple rewards points
25,000,000 bonus points being offered to first customers who get the card
NORWALK, Conn.--(BUSINESS WIRE)--Discount mavens and deal hounds – here's a new offering from The Priceline Negotiator that you won't be able to pass up. Today, priceline.com (Nasdaq: PCLN) introduced the priceline rewards Visa card – an instant-rewards card that lets cardholders make a purchase, collect rewards points and then, as soon as the points post to their account (typically within two days), redeem accumulated points to pay for items on the credit card, including the item they just purchased.
Also today, priceline.com released the results of an independent survey on American attitudes toward the ancient art of haggling. A surprising 64% of survey respondents said they have tried to negotiate on a purchase. See survey results at http://pcln.com/guxh.
The new card lets travelers amplify their savings by earning multiple rewards points on all priceline.com and other purchases. With the new priceline rewards Visa® card, which is offered through Barclays, cardholders can earn up to 4 points for every $1 spent on priceline.com Name Your Own Price® reservations and up to 3 points on their published-price travel reservations. Card members can choose from one of three everyday spend categories (utilities, groceries or home improvement) to earn 2 points for every $1 spent. And every other purchase made on the card earns 1 point per $1 spent.
Accumulated points can be redeemed and used just like cash to pay off credit card charges. Cardmembers do not have to wait for traditional monthly billing cycles to redeem their points. As soon as a merchant posts a charge to the card, the charge – and the applicable points – appear in real-time on a continually updated statement. In some instances, charges and points can be posted as early as the next day. The new card includes an additional benefit for priceline.com travel customers. Priceline.com has increased the purchasing power of points redeemed to pay for priceline.com Name Your Own Price® travel reservations. Compared to other purchases, Name Your Own Price® reservations will require fewer points to pay them off.
The priceline rewards Visa card is ideally tailored to help consumers meet the challenges of today's tough economy. "The priceline rewards Visa card delivers a nunchuck blow right to the solar plexus of high prices," said The Priceline Negotiator, aka William Shatner. "Cardmembers save twice – once on their money saving priceline.com reservations and again when they use those powerful points to cut their credit card bill to ankle height."
In fact, The Negotiator likes the priceline rewards Visa card so much that he's putting his image on it. "Any shopkeeper will tremble in fear of you, a true Negotiator, when you flash that card," said The Negotiator.
"The Priceline brand is all about saving people money and we wanted our card to be an extension of our brand," said Paul Hennessy, priceline.com's Chief Distribution Officer. "The card lets travelers accumulate reward points rapidly with one of the richest point systems in the online travel industry. The card is also extremely flexible. Any purchase on the card gains points, although consumers will see the obvious advantage in making all of their travel reservations with the card. And those points can be redeemed and used like cash to pay for literally any purchase made on the card. With all these different ways to save, it seemed a very Priceline-like solution."
"Priceline.com's approach to its loyalty card is unique in that it is not so much a travel card as it is an all-purpose credit card that rewards all kinds of purchase activities with points that can be applied to pay off anything on a monthly credit card statement," said Lloyd M. Wirshba, Chief Executive Officer, Barclaycard US. "We believe that this is an extremely powerful concept that will resonate strongly with consumers in the current economic climate."
Choose from two different priceline rewards Visa card Planspriceline rewards Visa Fee Card
To introduce the priceline rewards Visa Card, priceline.com and Barclays are sponsoring a 25,000,000 bonus points giveaway. Customers who are among the first to sign up and are approved for the card will receive an additional 5,000 or 2,500 bonus points plus $50 or $25 hotel bonus cash good toward their next priceline.com reservation, depending on whether they choose the fee or no-fee card. Hotel bonus cash is awarded after the card is used for the first time. The special promotion will continue until the 25,000,000 bonus points are exhausted.
Easy and automatic points accumulation and tracking
Depending on whether you choose the Fee or No-Fee card, Barclays will automatically calculate the correct points value for each purchase and display it in your online statement as soon as it's posted to your account. ID/Password-protected statements can be accessed through Barclays Website or through a special link available on priceline.com. Continually updated statements can be viewed 24/7.
Simple points redemption
Here's where the priceline rewards Visa card really shines. When you access your statement, you'll see a summary of your accumulated rewards points. Each charge on the card of $25 or more will have a checkbox next to it that allows you to redeem accumulated points to pay for that purchase. You must have accumulated and redeemed enough points to completely cover the purchase, with no partial point payments. For example, you would need a minimum of 3,000 redeemed points to eliminate a $30 charge from your statement. If you had 3,500 total redeemed points, you would continue to have a balance of 500 points after eliminating the $30 item.
How to apply for the priceline rewards Visa card
Beginning today, consumers will be able to fill out a Priceline Rewards Visa card application by visiting http://www.pricelinevisa.com.
About Priceline.com® Incorporated
Priceline.com Incorporated (Nasdaq: PCLN) www.priceline.com provides online travel services in 29 languages in 78 countries in Europe, North America, Asia, the Middle East and Africa. Included in the priceline.com family of companies is Booking.com, a leading international online hotel reservation service, priceline.com, a leading U.S. online travel service for value-conscious leisure travelers, and Agoda.com, an Asian online hotel reservation service.
Priceline.com believes that Booking.com is Europe's largest and fastest growing hotel reservation service, with a network of affiliated Web sites. Booking.com operates in over 70 countries in 24 languages and offers its customers access to over 71,000 participating hotels worldwide.
In the U.S., priceline.com gives customers more ways to save on their airline tickets, hotel rooms, rental cars, vacation packages and cruises than any other Internet travel service. In addition to getting great published prices, leisure travelers can narrow their searches using priceline.com's TripFilter advanced search technology, customize their search activity through priceline.com's Inside Track features, create packages to save even more money, and take advantage of priceline.com's famous Name Your Own Price® service, which can deliver the lowest prices available. Priceline.com operates the following travel websites: Travelweb.com, Lowestfare.com, RentalCars.com and BreezeNet.com. Priceline.com also licenses its business model to independent licensees.
About Barclaycard US
Headquartered in Wilmington, Del., Barclaycard US creates customized, co-branded credit card programs for some of the country's most successful travel, entertainment, retail and financial institutions. The company employs 1,400 associates and was named a Top Employer in Delaware in 2009. For more information please visit www.barclaycardus.com.
Barclaycard, part of Barclays Global and Retail Commercial Banking division, is a leading global payment business which helps consumers, retailers and businesses to make and accept payments flexibly, and to access short-term credit when needed.
The company is one of the pioneers of new forms of payments and is at the forefront of developing viable contactless and mobile payment schemes for today and cutting edge forms of payment for the future. It also issues credit and charge cards to corporate customers and the UK Government.
Barclaycard partners with a wide range of organizations across the globe to offer their customers or members payment options and credit.
In addition to the UK and US, Barclaycard operates in Europe, Africa and the Middle and Far East.Key facts published in February 2009:
Brian Ek, 203-299-8167
Kevin Sullivan, 302-255-8637
Matthew Tynan, 203-299-8487