IF you plan on purchasing a new AT&T smartphone and new plan [not an add-on to a shared plan]
AND you are a USAA member/ eligible to join [recently opened to all Military ], this could be a good deal, and it sounds like the purchase price of your phone and plan don't matter beyond the $30/month plan minimum, so it could easily be combined with other deals.

OTHERWISE, this deal is not for you.

Links [login required]: Link 1, Link 2

How to get a $200 deposit from USAA:

* Get a $200 deposit from USAA when you open a new checking account with direct deposit and purchase an eligible Smartphone from AT&T with a qualified two-year activation. [Additional restrictions apply.1]
* Existing corporate or government discount programs cannot be combined with this offer.
* A minimum $25 opening deposit is required.
* This offer expires June 17, 2010.
* Qualified accounts will receive a $200 credit on or by Aug. 13, 2010.

Fine print:

1 $200 deposit offer: Limited time offer. Offer good for new USAA checking accounts only. A minimum $25 opening deposit is required. The Annual Percentage Yield as of Feb. 22, 2010, on balances of $1,000 or more is 0.10% and may change daily. Provided your USAA checking account has active direct deposit and that you obtain qualified activation within the Offer Period, USAA will deposit $200 to your USAA checking account on or by Aug. 13, 2010 after qualified activation. Qualified activation requires an eligible AT&T voice plan and a new eligible AT&T data plan priced at $30 or more per month. Only available to Primary Lines, not shared plan additional lines [e.g., Family Talk plans]. Offer may not be combined with any corporate discount programs. Offer available only through qualified AT&T online activation process. Wireless service from AT&T: Subscriber must live and have a mailing address within AT&T's owned wireless network coverage area. Up to $36 activation fee applies. Early Termination Fee: None if cancelled in the first 30 days, but up to $35 restocking fee may apply to equipment returns; thereafter up to $175. Some agents impose additional fees. Other conditions and restrictions apply. See contract and rate plan brochure for details.

I received an email from USAA regarding this deal; unfortunately the link requires a login. If you're not a member yet, try calling them...they're very helpful.

UPDATE: Let me know if either of the links work for you. This may be a targeted offer that only gets sent out to certain members [Not sure what the criteria are--I only have $50 in my USAA checking and savings accounts because I really only use them for insurance]. I do have the screenshots of the email and of the offer if you want to try getting USAA to give you the deal. I just don't know how to post/send them.

This is one of my first posts, so please be kind, and fee free to move this to another topic/ change title.