Since I reviewed the Priority Club VISA card some months ago, they have launched a second card in the UK. Applications via this link (not sponsored).
The differences are summed up by the Helpful table on the site:
Clearly the big issue is the £99 joining fee and hence the increased APR. However, the very attractive 20,000 points (40% of the way to Platinum Priority Club) might be worth it.
In addition if you earn a lot of your miles from staying at IHG hotels, then this seems a good deal to me.