I love my cash back, but not at the expense of proper, well-proven fraud protection.
10% off? Sure I'll sign up and use it for a big purchase or two then remove all my info/cancel. Otherwise it's about the same as regular cash back, without the net-30 terms and proven history of consumer protection.
As it stands, if I get a bad TV from w-mart and the d*ck manager decides it's my fault it I just dispute the charge. Then Amex goes to bat for me and I typically get my way. If the entity that processed the charge is owned/run by w-mart to begin with how do you think that will go over?
Yah...I'm with you. No thanks, no way. Nothing about this seems enticing, interesting, or worth the trouble.
Plus many people use their CC because they don't have $ immediately available in their bank account. "Sorry, I can't go out tonight my credit cards are maxed"