LINK
Note: You can exchange 25000 points for a $250 gift card. See examples of gift cards from Dell, Home Depot, GAP, etc here (You may have to use Firefox or Netscape, not Internet Explorer to see AmEx Rewards website).
Terms:
Once your application for the Platinum Card ® from American Express is approved, you can earn 25,000 Membership Rewards® bonus points when you spend $1,000 in your first 3 months of Card membership. To be eligible to earn bonus points, you must be enrolled in the Membership Rewards First® program at the time of purchase and you must charge your purchase on an eligible, enrolled Platinum Card from American Express. Bonus points are awarded after the spend requirement has been reached and will be credited to your Membership Rewards First Program account. This offer is valid for first time American Express Card members only. You are eligible to receive bonus points for only one Card account. Additional Card members are not eligible. Bonus ID 5542.
I think it's important to note there is a $450 annual fee on this card which is NOT waived for the first year. So the card is only worth it if you will be using the other benefits of the card aside from the initial bonus points.