LINK

Note:
You can get $50 gift card (5000 points) after the first purchase. Also, you can get another $50 gift card (5000 points) for reaching $20,000 in spending and $200 gift card (20,000 points) for reaching $50,000 in spending.

When you renew the card in 1 year, you can get another $100 gift card (10,000 points) but this bonus will be "eaten" by the annual fee you will have to pay (you do not pay the annual fee during the first year)

See an example of free gift card here (You may have to use Firefox or Netscape, not Internet Explorer to see AmEx Rewards website!!!).


Terms from the credit card website as of 8/4/08:

Bonus points: To be eligible to earn bonus points you must be enrolled in the Membership Rewards® program at the time of purchase and charge your purchases to an eligible, enrolled American Express® Card.

5,000 welcome bonus points are available for first–time Gold Cardmembers only. You may be permitted to have more than one Gold Card account; however, you are eligible to earn welcome bonus points for only one Card account. Additional Cardmembers are not eligible. Welcome bonus points will be credited to your Membership Rewards account 6 to 8 weeks after your first purchase appears on your monthly Gold Card billing statement. Bonus ID: 9238.

Spend bonus points will be awarded to your account depending on the amount of Eligible Spending* in each membership year, as follows: If your Eligible Spending in a membership year is equal to or greater than $20,000 but less than $50,000, you can earn 5,000 spend bonus points; if your Eligible Spending in a membership year is equal to or greater than $50,000, you can earn an additional 20,000 spend bonus points. Spend bonus points will be credited to your Membership Rewards account 12 to 14 weeks after your Eligible Spending reaches the $20,000 and $50,000 threshold amounts, respectively. Bonus ID: 7312; 8192.

A one–time renewal bonus of 10,000 points will be awarded to your account 12 to 14 weeks after you pay the annual membership fee for the second membership year. Bonus ID: 3125.


*“Eligible Spending” includes purchases of goods or services, which purchases have not been returned or otherwise credited to your Card account: it does NOT include fees, Finance Charges, Cash Advances or similar means of accessing your Card account, or the purchase of American Express Travelers Cheques, American Express Gift Cheques or other cash equivalents. The following are not eligible to earn Membership Rewards points: Savings, Cash Advance Services, Balance Transfers, Privileged Assets, Express Cash, American Express® Travelers Cheques and Gift Cheques, Cash Advances: fees and interest; charges for dishonored checks, finance charges, including Line of Credit finance charges, Sign & Travel® finance charges, Extended Payment Option finance charges, delinquency charges, bulk purchases of wireless time, Membership Rewards program migration fees, Card account annual fees, and fees for enrollment–based Card services.