This offer from Amex is on again to upgrade from a lower tier Qantas Amex card to the Qantas Ultimate.
Annual fee is $450 which is offset by the $450 Travel credit
When you upgrade by 15 November 2021 and spend $3,000 on your new Card in the first 3 months you get 60,000 bonus Qantas Points + $200 back
2 Qantas Club Lounge invitations
2 Amex Lounge entries
Complimentary travel insurance
Handy deal if you're near annual fee time on the ultimate card. Downgrade to the fee free amex discovery and then upgrade again. Saves waiting 18 months to get a new AMEX bonus points deal.