It's probably very similar (if not the same) as this deal
http://www.flyertalk.com/forum/miles...heck-card.html
I just signed up for the NW Gold Visa debit card which normally has a $55 annual fee, but is waived in 2009. I got 5,000 WP points (which I immediately transferred over to my DL account) for opening a free checking account (transferring only $50). The card earns 1 mile/$ on all non-pin purchases. Pretty great deal IMO, especially since applying does not affect your credit and the checking account is free.
My miles posted before I even got my card. USBank has been a pleasure to deal with..nice reps that call to assure me everything is fine and all fees are waived.
Plus- I now have a 747 on my debit card