Just posting for completeness’ sake, but this has already been widely reported on other blogs. This card is not subject to Chase’s 5/24 rule.
The bonus is 50,000 Avios after $3,000 in spend within 3 months, with an additional 25,000 Avios after $10,000 total spend within the first year. The $95 annual fee is not waived. There is also a $1,000 discount voucher you receive after $30,000 spend in a calendar year, but I don’t think it is that great of a benefit, so I won’t get into any detail for now.
Iberia Avios can be converted back-and-forth to British Airways Avios, which I find useful in various situations. I recently used Avios to book intra-Australia flights for 4,500 Avios per passenger plus taxes and fees.
Overall, this is a decent card, especially since it is not subject to 5/24; however, I’m not applying right now and am waiting to see if they increase the offer later on.