First time buyers are limited to one transaction a day up to $50.
The limit will be raised to $150 after 3 days of the first transaction.
This policy will not be changed.
The 35% reward points (redeemable in 90 days) for first time buyers are part of the the reward system.
You can view the way the reward system works here:
To see your points and when they are redeemable go to Shop > Purchase History > Reward Points History
Mod Edit: Removed non-working link and added examples of how to see reward points.