That's an awesome idea. For it to be successful they'll either need one of the big credit card names involved or they'll have to get a major company like Amazon or Walmart to accept the new card as payment. You might be able to target some kind of a niche audience and go for a smaller market but the card wouldn't go near as big.
I'd love to see something like this happen but I think they have some major hurdles to clear to make it work. If it does happen I'd get one though.
Optimally, it would be best if they could get approved by VISA or MasterCard.
Absolutely, I'd be on it in a heartbeat.