I sent an email to US Bank asking about my new card, and they replied as follow. I hope the card will arrive soon as I could double-dip to get the initial offer and NW miles. Then I will park the card in my drawer.

(note: the date is my card's statement date, so it varies for everyone.)

Dear buschoi:

Good morning and thank you for contacting U.S. Bancorp Service Center, Inc. via our website.

With this card you earned Northwest Airline miles only until May 20th, 2009. As of May 20th, 2009 until June 17th, 2009 you will earn both Northwest Airline miles and the all new FlexPoints. As of June 18th, 2009 your account will only earn FlexPoints.

You will receive the card before June 18th, 2009.

You are a valued cardmember and we appreciate the opportunity to be of assistance.

Sincerely,

Sabrina R.
Service Advisor