Free Premium Accounts is giving free Rapidshare & Megaupload premium accounts for referring people to their website. Since the website have no porn ads and not asking for your credit card information, it looks authentic. But there is a catch!
Apart from completing referrals, the site makes it mandatory to complete one or more offers. I just checked one such offer and it turn out to be installing spywares on my PC. Of course they didn’t say anything about spyware, but my anti-virus did!
So if you care about privacy and security, stay away from such free offer sites. Otherwise you are free to go ahead with it… 
Personally I prefer downloading via torrents as you can find much more files on torrents compared to rapidshare. Check this for list of 5 best torrent search engines and google trick to find torrents.
Update (on October 1, 2009)
Eric from Free Premium Accounts contacted us claiming their softwares doesn’t contain any spyware. As last time I checked it, it was more than a year ago.
So if you are interested in this, you may try it on your risk. I suggest using online antivirus scanner to verify cleanliness of their software before installing it on your PC.
Link: Free Premium Accounts
Related: 5 Best Torrent Search Engines + Google Trick for Torrent Search
More information: They doesn´t give the accounts promissed, I complete the referals and my referals their offers, but nothing about they.
Mailed they, and asked me tath are having problems with the accounts. JOKEEEEEEEEEEEE
All since march, 4 months :0
tanx
Yeah, that site is fake. Same happened to me: I registered myself and referred to 6 more people (all of them completing the crappy offer). Up to there everything seems to work, but when you order the RS account it just gives you an id request number and never happens anymore… any RS account is sent to you email or anything. Don’t waste your time. that site is just some kind of crap for making the owner gain some money for the referral and visitors, but nothing else