The American Express® Green Card offers occasional travelers the ability to earn valuable Amex Membership Rewards points on a variety of travel purchases and at restaurants across the globe.

Now, new cardmembers can earn an even-higher welcome offer of 60,000 Membership Rewards points after they spend $3,000 on purchases with the Amex Green Card in their first six months.

What’s more, new cardmembers can earn 20 percent back (up to $200 back total) on eligible travel and transit purchases made during their first six months of card membership. Rewards will be delivered in the form of a statement credit.

Interested in the new offer? Keep reading for more information on the Amex Green Card’s new welcome offer and whether the card is worth applying for — plus other valuable information on card benefits.

Details on the Amex Green Card’s welcome offer

The Amex Green Card’s new welcome offer is a 15,000-point increase from its previous offer of 45,000 Membership Rewards points (earned after spending $2,000 within six months of account opening). Though you’ll need to spend $1,000 more to qualify for the new offer, we think it’s worth it — especially given the potential value you can glean from Membership Rewards points.

According to Bankrate’s points and miles valuations, points earned within the American Express Membership Rewards program can be worth around 2.0 cents apiece toward high-value transfer partner travel. That means 60,000 Membership Rewards points could be worth $1,200 when transferred to American Express airline and hotel partners.

And when you factor in the opportunity to earn 20 percent back on eligible travel and transit purchases (made during the first six months, capped at $200 back), that’s about $1,400 in first-year value.

Is the Amex Green Card worth applying for?

The Amex Green Card’s new welcome offer puts it on par with offers from premium travel cards like the Chase Sapphire Reserve®, which charges a $550 annual fee and features a 60,000-point bonus after spending $4,000 within the first three months.

You won’t score the same level of benefits with the Amex Green Card compared to more premium travel cards, but its $150 annual fee, inclusive travel rewards category and two credit-earning opportunities make it a good choice for those looking to break into the travel rewards space while earning valuable Membership Rewards points.

For reference, cardmembers earn 3X Membership Rewards points in an expanded travel category — including flights, hotels, transit, taxis, rideshare services, rental cars and tours — as well as 3X points at restaurants worldwide (including takeout and delivery in the U.S.). All other purchases earn 1X points.

Further, the card features two travel-related statement credits that can help enhance your airport experience: up to $189 in Clear Plus credits per calendar year (when you pay for your Clear Plus membership, subject to auto-renewal, with the Amex Green Card) and up to $100 in LoungeBuddy credits per calendar year (when you purchase lounge access through the LoungeBuddy app with your Amex Green Card). By taking advantage of these credits, you’ll more than make up for the annual fee.

Whether or not the Amex Green is worth it may come down to the yearly cost of holding it and the travel benefits it does (and doesn’t) offer. Before you make the decision to apply, read through our guide to the best travel credit cards with no annual fee or consider alternative travel card options from American Express.