Here's a great offer: apply for a Discover More Card and get a free 4Gb iPod Nano (MSRP $150)! Just go to http://www.mymp3playeroffer.com (currently unavailable as of 12/01/2008), apply for the card through the site link, be approved and then activate and use the card at least one time once you get it. That's it!

iPod Nano not interest you? Well, you can also opt for a free Western Digital 500Gb External Hard Drive, Philips 9" Portable DVD Player, Flip Ultra Camcorder, Canon A580 Digital Camera, Garmin Nuvi 200 Portable GPS System, or Canon CanoScan Color Scanner (all unavailable as of 12/01/2008).

Is this legit? Yes. I already signed up and got my free iPod Nano. The entire signup process is secure and the signup page is owned by Discover (can be verified by doing a WHOIS query). How are these offers possible? These companies get cash payouts for every Discover Card activation. They buy these electronics in bulk at a low price. The price they pay per unit for eachitem is less than the amount of money they get for each signup. So, they're making a profit.

The Discover More card is a great card in itself, with 0% APR for 12 months, no annual fee, and 5% cash back on different categories each quarter (for example, right now it's gas and hotels).This will work even if you currently have a Discover card, it's not just limited to new applications.

More discussion of this deal can be found over at FatWallet.com.