During my latest visit to Waterstones my points card and Stamp & Save card were replaced with a new Waterstones Plus card, with existing points and stamps being transferred to the new card.
The new card isn’t quite as generous as the two previous cards. No longer do you earn points for purchases but you do still get a stamp (an electronic one printed on your receipt) for each £10 you spend, and as before you receive £10 worth of points when you’ve collected 10 stamps. Previously you collected points and stamps – now it’s just stamps. On the plus side, with the new card if you spend between £5 and £9.99 you get a half stamp, which is nice for when you buy a single £9 book, for example. Previously there was no stamp (or half-stamp) for purchases less than £10. Interestingly some sales assistants would give you a stamp if you bought a £9.99 book – quite right too!
things change 
isn’t it cheaper to buy books from other shops? even with waterstones loyalty card?
These days Waterstones is often the only bookshop around!
Indeed. I believe they’ve recently even gobbled up the wonderful Foyles. Indeed also, as above, their pricing is never keen. I had to quickly buy a century-old “classic” recently, hardly with any royalties going to Anton Chekhov or his estate, but the usual £8.99 anyway.
If it’s a keen price you’re after, then Amazon is the place, but I prefer not to.