Usual criteria applies (not held same card within last 12 months, minimum spend) - read T&C for details.
Original source is an email from Virgin/Velocity I just received.
I don't think I've seen a sign up bonus this high on this card - I signed up a while back at 60,000.
Been happy enough with this card (and been travelling so much) that this is one of the very few cards I have kept longer than 12 months.
EDIT given some comments/suggestions.
Some key features and why I've kept the card past the first year - no forex fees, domestic return flight with Virgin (selected routes - options are shown on ANZ website), Virgin lounge passes x2. You can use BPay and still earn points, which is something many cards seem to be lacking nowadays.
You earn 1.5 ANZ Rewards points per dollar spent up to $2K/month. This converts to 0.75 Velocity points but can be transferred to other airlines too. What I personally do is sit on the points until there's a bonus offer from Velocity to transfer points over - 15% bonuses are very often, which ANZ normally matches bringing it to 30%. But once a year there seems to be a 15% bonus by Velocity, which ANZ increases by 35%, meaning a total of 50% more points. This can push the card past 1 point per dollar (0.75 x 150% = 1.125)