I have had a look through the T&C's and basically what i have found is that you have to save a minimum of £5, for which Argos will give you £3 bonus. Savings period ends 31/10/08, but you have to apply for a card before 30/04/08. Pick up a leaflet instore. The card will be activated on 08/11/08. So spend £5 now and have £8 on your Argos card ready for Christmas shopping!!
You can save more for further bonuses but you are not obliged to do so:
First £5, you get £3 bonus
When your total reaches £25, £50, £100, you get an extra £1 each time = £3
When your total reaches £150, £200 you get an extra £2 each time = £4
When your total reaches £250, you get an extra £3
So if you save £250 you can potentially get £13 in bonuses.