LINK.
Normally, you can exchange 25,000 points for $250 in Dell.com gift cards or $250 The Home Depot gift cards or $250 gift cards to many other stores
http://www.membershiprewards.com/wow/default.aspx
(You may have to use Firefox or Netscape, not Internet Explorer to see AmEx Rewards website!!!)
Terms:
Apply for the Business Gold Rewards Card and make a purchase by 12/31/07. Upon the Basic Cardmember's first purchase, a one time bonus of 25,000 points can be earned toward the Basic Business Gold Rewards Cardmember's Membership Rewards® account and may appear as separate credits of 5,000 and 20,000 bonus points. The maximum 25,000 bonus points are available to first–time Basic Business Gold Rewards Cardmembers only; they are not available if you transfer an existing account. Welcome bonus points will be credited to your Membership Rewards account 6 to 8 weeks after your first purchase appears on your monthly billing statement. The bonus 25,000 Membership Rewards points may be redeemed for one domestic round–trip airline ticket. Cardmembers transferring points to participating domestic airlines will be charged a fee of $.0004 per point, up to $50. This charge is to offset the excise taxes American Express currently pays to the government on such transactions. Bonus ID: 6416.
The bonus info was taken from http://ibankdesign.com/board/index.php?showtopic=12071
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