Citibank Signature VISA.
1 Qantas point per dollar, so no need to use an AMEX (although AMEX does give more if used overseas or on flights).
When I got it the deal was to choose either no annual fee for life, or 40,000 Qantas points on signup. Chose the no fee for life.
Minimum income $75k
Current promotion they have is 60,000 Qantas points. You do have annual fee but it says it's reduced to 299 for life.
60k points is a free flight, so it's worth it to take it and if you don't get the benefits cut it up later before paying more annual fees.
Best part for me who eats out alot - free bottle of wine in heaps of restaurants! Restaurant has to be on the list, but you get to choose either red or white, and most of them are in the range of $35-$45 bottles. Not that useful if you live outside capital city, but pretty good if you live in Sydney/Melbourne and pick restaurants from the list.