Explorer Credit Card
Bonus PointsReceive 50,000 Membership Rewards Bonus Points when you apply online, are approved and spend $3,000 on your Card within the first 3 months.
- Last updated on 06 Aug 2020
Balance Transfer Rate
for 12 months then 20.74%
Max Free Days
- Balance Transfers Available
- Free domestic travel insurance
- Free international travel insurance
- Free supplementary cards
- Purchase protection insurance
- Extended warranty
- Airport lounge
Number free supplementary
Interest Free Days
Interest Free Days
Maximum credit limit
Late Payment Fee
Minimum credit limit
Over limit fee
Minimum repayment dollars
Duplicate statement fee
Minimum repayment percent
Supplementary card annual fee
Cash advance rate
Balance Transfer Rate
Balance Transfer Rate
for 12 months then 20.74%
$10,000 or 70%, whichever is lower
Balance Transfer Fee
Foreign Exchange Fee
3% on Amex
Estimated ATM Cost
Amex Membership Rewards Gateway
No history of bad debt or payment default
|2 points for $1 spent||AMEX||uncapped||all other eligible purchases|
|1 point for $1 spent||AMEX||uncapped||government bodies|
- FREE DOMESTIC TRAVEL INSURANCE Available when you use your card to pay for return domestic travel
- FREE INTERNATIONAL TRAVEL INSURANCE Available when you use your card to pay for return international travel
- FREE SUPPLEMENTARY CARDS Supplementary cardholder must be over 18 years of age
- PURCHASE PROTECTION INSURANCE Covers up to $20,000 per year
- EXTENDED WARRANTY Warranty is extended for the same duration as the original warranty up to 1 year.
- AIRPORT LOUNGE Up to two entries per year into the American Express Lounge at Sydney or Melbourne International Airport
- Bonus Points Receive 50,000 Membership Rewards Bonus Points when you apply online, are approved and spend $3,000 on your Card within the first 3 months.This offer is available to new Card Members, as well as Bank-issued American Express companion cardholders. Receive $400 travel credit every year. 0% p.a. on balance transfers for the first 12 months — A one-off credit plan establishment fee of 1% applies to any balances transferred. If you pay your Balance Transfer over time, an interest-free period will not apply to your purchases. T&Cs apply.
Receive $400 travel credit every year. 0% p.a. on balance transfers applies for the first 12 months (one-off establishment fee of 1% applies). Smartphone Screen Insurance for up to $500 for screen repairs to your Smartphone when you pay for your phone or contract with your card.
Card Members who currently hold or who have previously held any Card product issued by American Express in the preceding 18 month period are ineligible for the 75,000 Bonus Points Offer. Previous and existing bank-issued American Express companion cardholders are eligible for this offer. Cash Advance not available. </> Balance transfers are not currently available on new American Express Credit Card applications.
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American Express, commonly known as AMEX, is a multinational financial services corporation headquartered in New York.
AMEX is the world’s largest credit card issuer by purchase volume. Alongside AMEX credit cards, the company provides personal financial products such as travellers’ cheques, as well as business and corporate financial services.
American Express has a corporate office in Sydney and various currency exchanges around Australia, but no dedicated customer service branches. ATM access is available through AMEX’s network of partner ATMs.
The American Express Explorer credit card comes with a high annual fee, a moderately high interest rate and moderate minimum credit limit.
It offers up to 55 days interest-free on balances, and zero per cent interest on balance transfers for new customers.
This credit card is packed with perks that might appeal to the savvy traveller. As a customer you’re automatically enrolled in the Membership Rewards Gateway program.
The points you earn can be transferred to other loyalty programs such as Airline Rewards Frequent Flyer and Hotel Rewards Frequent Guest programs.
Fringe benefits such as travel insurance and discounts do come at a cost, though. The annual fee and interest rate is considerably higher than other credit cards.
If you’re eligible for the explorer credit card, you’ll be rewarded with up to two membership points for every dollar spent. And there’s no cap on how many points you can accrue.
- No cap on points
- Free airport lounge access
- 0% balance transfer offer
- High annual fee
- High interest rate
- No cash advances
Who is it good for?
If you’re a frequent flyer you might find the comprehensive travel insured offered by this credit card beneficial.
The types of insurance available for cardholders include travel inconvenience insurance for delayed flights and baggage; money and documentation cover; travel cancellation cover; medical emergency expenses cover; and smartphone screen insurance.
The card also gives you the option of using your points with any of American Express’s eight airline partners and associated programs. So your choice of travel isn’t limited, either.
The American Express Explorer credit card is ideal for people who prefer to use their credit card for purchases and payments, instead of using cash.
By doing so, you’re rewarded with extra protections and assurances such as extended manufacturers warranties, and refund and fraud guarantees.
Using your credit card for payments or spending points has been made convenient thanks to Apple Pay, Samsung Pay and Google Pay.
What RateCity says
The American Express Explorer credit card is loaded with features for people who fly a lot, from comprehensive travel insurance options to complimentary airport lounge access.
It’s a credit card that rewards users for choosing it over cash for purchases and payments. And the protections offered for purchases and payments are generous.
The reward program itself pays handsomely, offering up to two points for every dollar spent with no cap. You can also use the points earned to pay for charges on the card.
The features offered by this credit card make it one of the more expensive products on the market. And to get your hands on one, you need to meet the income requirements.
It’s worth noting that there is no cash advance facility with this card. If being able to withdraw money is an important feature of a credit card, this may not be the one for you.
To be eligible for the American Express Explorer credit card you must be at least 18 years old and have a gross (pre-tax) annual income of $65,000 or more. Your credit rating needs to be squeaky clean, with no history of bad debt or payment defaults. This credit card is only available to Australian citizens, permanent residents or holders of a current business long stay visa. Statements for this credit card are available online only.
About American Express
American Express, also known as Amex, is an American multinational financial services corporation that was founded in 1850. It’s headquartered in New York City’s World Financial Centre and is an issuer of American Express cards. American Express provides merchant card transaction acquiring facilities and arranges insurance services issued by various third parties. The company claims to be one of the world’s most trusted brands and strives to provide a world-class service and personal recognition for its customers.
Property Personal Finance Writer
A property and personal finance writer, Nick Bendel covers property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.
If you have a bad credit score, you might encounter two main problems. First, the lower your credit score, the more likely you are to be rejected when you apply for a loan or any other credit product. Second, if your application is accepted, the less likely you are to qualify for the lowest interest rates.
The reason Equifax, Experian and Illion use different scores is because they are independent companies with their own different methodologies. As a result, a score of, say, 700 would mean different things at different credit reporting bureaus.
However, the one thing they have in common is that they divide their scores into five tiers. So if you receive a tier-two credit score from one bureau, you will probably receive a tier-two score from the others, as well.
Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.
There are two reasons you should check your credit rating: so you have a better understanding of your financial position, and so you can take action (if necessary) to improve your credit rating.
Lenders use credit ratings or credit scores to assess loan applications. The higher your score, the more likely you are to get approved, and the more likely you are to be charged lower interest rates and lower fees. Conversely, the lower your credit score, the less likely you are to get approved, and the more likely you are to be charged higher interest rates and higher fees.
Credit cards are a quick and convenient way to pay for items in store, online or over the phone. You can use a credit card as a cashless way to pay for goods or services, both locally and overseas. You can also use a credit card to make a cash advance, which gives you the flexibility to withdraw cash from your credit card account. Because a credit card uses the bank’s funds instead of your own, you will be charged interest on the money you spend – unless you pay off the entire debt within the interest-free period. If you pay the minimum monthly repayment, you will be charged interest. There are many different credit card options on the market, all offering different interest rates and reward options.
A balance transfer credit card lets you transfer your debt balance from one credit card to another. A balance transfer credit card generally has a 0 per cent interest rate for a set period of time. When you roll your debt balance over to a new credit card, you’ll be able to take advantage of the interest-free period to pay your credit card debt off faster without accruing additional interest charges. If your application is approved, the provider will pay out your old credit card and transfer your debt balance over to the new card.
For most Australians, there are no great barriers to applying for and getting approved for a credit card. Here are some points that a lender will consider when assessing your credit card application.
Credit score: A bad credit score is not the be all and end all of your application, but it may stop you being approved for a higher credit limit. If your credit score is less than perfect, apply for the credit limit that you need, rather than the one you want.
Annual income: Most credit cards have minimum annual income requirements. Make sure you’re applying for a card where you meet the minimum.
Age & residency: You need to be at least 18 years old to apply for a credit card in Australia, and most require that you are an Australian citizen or permanent resident. However, there are some credit cards available to temporary residents.
There is no one-size-fits-all best rewards credit card. It's best you research what type of rewards program you'd like, as well as the fees, interest rate and conditions associated with those types of cards before making a choice.
Rewards credit cards can also come with high annual fees that may end up nullifying the rewards, so think how often you use the card to decide whether the benefits outweigh the extra cost for you. A card with a lower annual fee might require a lot of spending to get any useful rewards, while another card with a higher annual fee might need fewer purchases to get a reward.
Losing your credit card is a serious situation, and could land you in financial trouble. Here is a simple guide detailing what to do when you lose your credit card.
Lock you card – Contact your provider and inform them about your lost credit card. From here lock, block or cancel your card.
Keep track of