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Note: You can exchange 50,000 of 60,000 bonus points for a $100 gift card (see more info here). Your net bonus will be only $25 due to $75 annual fee.

Terms:

To earn a First Purchase Bonus of up to 40,000 Hilton HHonorsTM Bonus Points, you must make your first eligible purchase with the Hilton HHonorsTM SurpassTM Card from American Express (Card) within one year of the date your Card account was opened. Limited to one First Purchase Bonus per Card account. Only first-time Hilton HHonors Surpass Cardmembers are eligible to earn a First Purchase Bonus of up to 40,000 Bonus Points. Cardmembers who have previously earned a First Purchase Bonus from any Hilton HHonors Card from American Express earn the difference between 40,000 Bonus Points and the number of First Purchase Bonus Points previously earned. Allow 8-12 weeks for Bonus Points to be credited to your Hilton HHonors account. Bonus Points do not count toward elite tier qualification.

You will receive 20,000 Hilton HHonorsTM Bonus Points, as defined in the HHonors Terms and Conditions (Bonus Points), if, within the first 90 days following the date on which your Card account was opened, you charge a total of $3000 or more of eligible purchases on your Hilton HHonorsTM SurpassTM Card from American Express (Card) ("Threshold Amount"). The 20,000 Bonus Points will be credited to your account 8-12 weeks after you reach the Threshold Amount.