This strikes me as a decent Visa CC deal. You are guaranteed 1.5% on all purchases with no maximum. You can achieve 2% under certain circumstances.
The call in the deal for a “deposit account” includes their BBVA checking account. I opened one of those recently for an entirely different purpose, making a tidy profit thereby owing to CC funding. But it’s a free account and $1000/month via ACH should be no hassle whatsoever.
There are a couple of other blah blah sweeteners to this deal, minor stuff. Includes a 0% rate for a while, a $100 bonus, and no annual fee. But the real dough, to me, is in the 2% reward: