He is slated to earn around $7 million a season which is almost half of what Mathieu is expected to earn after signing a three-year deal worth up to $42 million. His reported agreement with the Chiefs is for $42 million over three years, according to ESPN's Adam Schefter.
He signed a one-year deal with the Texans for $7m in March 2018. Collins will make $45 million guaranteed.
The Chiefs were aggressive with Mathieu, who they viewed as the best and most complete safety on the free-agent market.
In Houston, he tallied 89 tackles, eight pass deflections, three sacks and two interceptions.
Jets to sign former Vikings Pro Bowl LB Anthony Barr
However, that changed Tuesday when the Vikings increased their offer to the four-time Pro Bowl selection. A nagging hamstring injury limited Barr to 13 games in 2018, his fewest since his rookie season.
Despite missing at least two games in each of his first four National Football League seasons, Mathieu has played all 16 games in each of his last two.
He owns 13 interceptions in his six-year career and has scored one defensive touchdown.