Pretty much a Free $50 as there are No annual fees and No additional cardholder fee. Don't even have to use it :).
To be eligible for the $50 Warehouse Stationery Gift Card ("gift card"), you must: (a) apply for a Purple Visa Card before 16 March 2017 (“Promotional Period”) using the promo code "WSPROMO"; and (b) be fully approved; and (c) spend on your card no later than 20 days after the promotional period ends (by 5th April 2017).
This Gift Card offer is only available to new Warehouse Money Purple Visa Card main cardholders who apply through this special offer and their accounts are still active after the Promotional Period.
Earn 2 purple dollars for every $150 spent at The Warehouse. Earn 1 purple dollar for every $150 everywhere else. Purple Dollars can be redeemed at The Warehouse.
You beat me to it again. :)