It's available now: http://www.juniper.com/app/japply/lp...kid=0000000000

Overview:

1.25% cash back on everything, no annual cap, deposited twice yearly into your EmigrantDirect savings Account

Must have EmigrantDirect Savings Account with average daily balance > $10,000 to get the 1.25% rate. The current APY on the savings account is 4.0%

So overall, it's not that great. It's not even as good as a plain old Citi Cash Rewards Card up to the $300 annual cap, and nowhere near as good as most of the points-based programs (SPG, ThankYou Network, etc) that folks here tend to use. Kind of a disappointment considering all the boasting from EmigrantDirect.