Credit card signup bonus sound too good to be true. Is there a catch?

When signing up to the amex velocity platinum you get 50000 points when you spend $1500 in the first 3 months. A economy flight from Perth to Canberra costs around 300 give or take, while it costs around 25000 points. Given the annual fee of this card is $350 and you are able to get 2 flights with the 50000 you get for signing up which otherwise would cost around $600, im wondering if there’s some sort of catch that I’m missing? To me it seems like a no brainer to sign up to this card considering this deal not to mention that you also get a return economy domestic flight each year. Thanks for any input, cheers.

Always read the fine print, but no there is not necessarily any catch. They offer these sign up bonuses as such to try and win your business as a customer (obviously they hoping your going to pay interest)

If you go via a referral, you can even get more bonus points. You can get one from a friend or ask around or myself. Maybe PH has a referral link for extra points as well.