I considered the offer and decided I did not need more AA miles, but I'm now reconsidering. Not because I need more AA miles -- they may soon be worthless -- but because I thought I remembered from the original promotional material that the interest rates on the account were guaranteed for 12 or 18 months. In the current environment that could be very useful. However, I threw away the mailer and the current info online says the rate can change even before the account is opened.
I'm thinking I may have just imagined the rate guarantee. Without that I don't see this as a particularly attractive offer.
I have had two Citi cards for some time (AA and Costco) and have no complaints about service. No recent experience with checking or savings though.