I was buying some shirts in my local DJs a few weeks ago and the sales guy told me about this deal.
Basically you apply in store or online, get your card, make 3 purchases of any amount and you get 30k Amex points; 40k if you get the platinum.
You can then covert the points to account credit on your card. 29k points converts to $200 which covers the $99 annual fee and leaves you with $101 free credit.
I have done this and about to cancel my account; I only asked for a $1k credit limit to keep the footprint down and make sure I was approved.
It's not an amazing deal but if you are going to spend close to $100 in DJs and can be bothered, you might consider it.
Update 9/6: I just called to cancel the card after paying off the remainder of my balance. The guy on the phone said that he is sending me a cheque for the portion of the annual fee I did not use (11 months worth). Makes this deal even better!
Update 10/8: Just got my cheque from Amex for the refund of the annual fee. After the June update I hadn't heard anything from DJ/Amex so I called up and asked. The girl I talked to was not aware that a refund was required but saw on my account that one had been actioned. Apparently there was an error or the chq got lost in the mail. She reissued and it arrived last week. Can't be sure this is a standard policy but I am just letting you know a full refund is possible!
Details: This offer is only available to new David Jones American Express Card Members who apply via this site, are approved and make the required eligible Card spend(s). Reward Points are awarded after you spend three times on your Card outside of David Jones within the first month of becoming a David Jones American Express Card Member. If you opt in to Membership Rewards, you are eligible to receive 30,000 Membership Rewards points. If you opt in to Qantas Frequent Flyer, you are eligible to receive 22,500 Qantas Points. Maximum number of points available under this offer is 30,000 Reward Points. Reward Points are earned and converted to your chosen rewards program in accordance with and subject to the David Jones Storecard and David Jones American Express Reward Points Terms and Conditions available at davidjones.com.au/rewardpoints.
Card fee of $99. no deal.