You will receive 75,000 bonus Membership Rewards points (in the Amex Gateway Program) when you apply online, are approved and spend $3,000 on your Card within the first 3 months of Card Membership.
Please note, you must not hold an Amex (apart from bank-issued ones), or have held one in the last 18 months.
Membership Rewards points are well recognised for the great value they have when transferred to airline and hotel programs. For example, each MR point in the Gateway program converts to 0.75 points in the Virgin Australia Velocity, Cathay Pacific or Singapore Airlines Krisflyer programs.
Benefits:
$400 Travel Credit every year to use on flights, hotels, experiences or car hire booked online with American Express Travel. You can use this credit to book travel for anyone you choose.
Earn up to 2 Membership Rewards points for every $1 spent on eligible purchases.
Smartphone Screen Insurance for up to $500 for screen repairs to your Smartphone when you pay for your phone or contract with your card.
Travel insurance, buyers advantage, purchase protection, and refund protection.
2 entries per year to the American Express Lounge at Sydney International (Kingsford Smith) Airport T1.
0% p.a. on balance transfers for the first 12 months — A one-off credit plan establishment fee of 1% applies to any balances transferred.
The $400 travel credit helps to offsets the $395 annual fee.
This is not a particularly good deal. Wait for the twice annual 100k bonus. There is pro ably one coming up soon.