In this song, Jack White sings about how his girl doesn't love him anymore, and his plans to pack up and leave. Jack and Meg White were husband and wife until they divorced just a few months before the De Stijl album was released, but they kept a firm barrier between their personal and professional lives, remaining together as a band for another 11 years. More likely, "I'm Bound Pack It Up" was inspired by the blues songs Jack loved by the likes of John Lee Hooker and Son House. Many of those songs have similar storylines.
This is one of the few early White Stripes songs that features a guest musician. Paul Henry Ossy, Jack White's cousin and frequent musical collaborator, played the electric violin.
According to Jack White, when Meg heard this song, she asked if he was sure he wanted to include it on the album, since it "sounds a lot like Led Zeppelin."