You can exchange 160000 sign-up points for a $50 free gift card of
Card Terms:
Please allow 4-6 weeks after your purchase for the 16,000 Points to be deposited into your Choice Privileges account. To be eligible, you must apply for the credit card by August 16, 2007 and use it to make $150 of qualifying net retail transactions that post within 75 days of the account open date. You must maintain a U.S. address (including U.S. territories)
Other card perks:
No annual fee.
1.9% Introductory APR on purchases, balance transfers and cash advance checks for your first 6 billing cycles
Transaction fee for Balance Transfers, non-online Direct Deposits, and Check Cash Advances: None of each such cash advance (minimum $0)
The bonus info was taken from http://ibankdesign.com/board/index.php?showtopic=11942
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