Currently this deal has only been updated for referral links and the main Explorer application page still refers to a 50k bonus. This should be updated soon. The page you see when you access a referral link refers to a 100,000 sign-on bonus when you spend $1,500 within 3 months.

The offer has been updated now on the normal Explorer application page for all applications, whether or not a referral link is used. The only difference with you using a referral link is that the Ozbargainer referrer will also receive some points.

Receive 100,000 bonus Membership Rewards points in the American Express Gateway program when you apply for a new American Express Explorer card and spend $1,500 within 3 months.

To be eligible for the bonus points, you must be a new Amex card member which means that you do not hold another Amex and have not held one in the last 18 months. Bank-issued Amexes do not count for this purpose.

Each MR point in the Gateway program converts to 0.75 points in the Virgin Australia Velocity, Cathay Pacific, Etihad, Emirates 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, or at the Melbourne Airport International Terminal.

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 more than offsets the $395 annual fee.

As mentioned by hellohello123, there are some changes coming in April 2019 across this and other Amex cards: (https://www.ausbt.com.au/american-express-overhauls-credit-c…). The most significant change is a decrease in the rate that Membership Rewards points convert to frequent flyer points from 0.75 points per Membership Rewards point to 0.5 points.