To get the iPod, you have to open the card and make purchases totaling at least $100 with 90 days of opening. It also says to allow up to 12 weeks for delivery after qualifying.
Here is the fine print:
To qualify for this offer, your new account must be used to make any combination of purchase or cash advance transactions (including balance transfers) totaling at least $100 within 90 days of the date the account is opened by MBNA (exclusive of transaction fees, if any). Limit one (1) item per new account. Supplies are limited. Allow 8-12 weeks for delivery after qualifying. Offer sponsored by MBNA: we may substitute an item of equal or greater value and we are not responsible for lost, stolen or undelivered merchandise. Apple is not a participant or sponsor of this promotion.
– via MyMoneyBlog