This is a "Your Miles May Vary" promotion which may be targeted. The promo is not listed at the bank's website. A flyer advertising the $175 bonus was posted in this FW thread
. Here's an excerpt from the FW thread:
$50 min. balance required to open checking account.
No min. balance requirement for the first year. After the first year, $8.95 per month for balances below $1,500.
$175 credit will post to your open checking account 6-8 weeks after the first direct deposit.
Promotion expires 12/31/2010
It should be noted that Capital One's rewards checking account is not a high-yield reward checking
. You earn miles for debit card purchases, for paying bills online and other account activity.