Via Doctor of Credit, there is a new link for the Merrill + Visa Card which offers 50,000 points after $3,000 spend in 90 days.
The points can be redeemed for $500 cash but can also be worth up to $1,000 if redeemed for flights, also known as Anytime, Anywhere Air Rewards. The flight rewards cost 25,000 points for flights up to $500, i.e. 2 cents/point. For flights over $500, you must continue redeeming your points at a value of 1 cent/point until all of your points are exhausted. You may then pay the remaining balance with your card.
So in theory, you should be able maximize your value by either finding flights very close to $500 or by purchasing flights >$500 when you have just 25,000 points in your account.
Aside from the bonus, there’s not much else exciting about this card, but it’s definitely worth picking up for the bonus alone.