ProDigit--There isn't really a catch to applying for the Sony Card. As far as I know there is no annual charge (I have one and don't get an annual fee.) Also, although the interest rate is a little high, they only charge interest if you don't pay your bill off every month.
And as Bob said, it's pretty easy to cancel right after you get your reader.
In fact, I used the rewards points I'd accumulated on my Sony Card to completely pay for my 505. (I've had the card for a while.)
dordale
