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Is the American Express Explorer card worth it?

This card has an annual fee of $395 but if you use the card’s benefits, there is over $800+ worth of value. I explain the different benefits you can get access to below.

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70000
Amex Points
400
Travel Credit
2
Membership Awards Per $1
395
Annual fee

American Express Explorer card

Card benefits

$400 travel credit every year

70,000 American Express Points when you spend $4,000 on eligible purchases on your new Card within the first 3 months. 70,000 Amex points is equivalent to roughly a $350 gift card

Complimentary domestic and international travel insurance (PDS)

Apple Pay, Google Pay and Samsung Pay support

Complimentary Hilton Honors Silver Status

Free access to The Centurion Lounge at Sydney or Melbourne Airport twice a year. Valued at $55 for adults and $34 for children

Complimentary Smartphone Screen Cover, covering up to $500 for repairs. A 10% excess applies to the claimed amount. (PDS)

Earn 2 Membership Rewards points per $1 on all purchases except government bodies where you will earn 1 point per $1 spent

Plus more benefits

Annual Fee: $395/ year

Offer expires: 28 February 2023

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Card Members who currently hold or who have previously held any Card product issued by American Express Australia Limited in the preceding 18 month period are ineligible for this introductory bonus offer. Previous and existing bank-issued American Express companion cardholders are eligible for this offer.

We may receive a commission from the card issuer for each applicant of this card. You do not pay this amount. More about this in our credit guide.

So is this card worth it?

So is this card

The American Express explorer card has an annual fee of $395 but if you use the card’s benefits, you get your money’s worth with over $800+ worth of value.

There’s an interest free period of up to 55 days, so if you pay back the full balance owing each month before the interest free period, there no interest is charged on your account. You can read more frequently asked questions below.

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Frequently asked questions

What are the differences between credit cards and debit cards?

Credit cards:

  • The credit provider allows you to borrow money from them up to the credit limit
  • Can be used to earn rewards such as frequent flyer points, cash back, and insurances on your purchases
  • There’s usually an interest free period from 44 days to 55 days, where no interest will if you pay back the full balance owing each month on time
  • Interest will be charged on the amount owing after the interest free period if you don’t pay back the full balance
  • Offers extra fraud protection and protection against unauthorised purchases

Debit cards:

  • Money is deducted from your bank account
  • Since it is your money which you are using, no interest or fees are charged (unless you deduct more money than you have in your account)
  • Generally doesn’t allow you to earn points, cash back
  • Generally no extra insurances and fraud protection on your purchases

Do credit cards impact your credit score?

Paying off your full credit card balance each month on time positively affects your credit score, but if you don’t pay back the full balance on time it may negatively impact your credit score. That’s why it’s important to keep on top of your payments and try to pay off the balance in full and on time each month.

Do you need to pay interest on your credit card?

With every credit card, there’s usually an interest free period of up to 44 days or 55 days, whereby if you pay back the full balance owing on your statement before the interest free period, then no interest is charged.

However, if you don’t pay back the full balance owing before the interest free period, then interest will be charged on the balance owing on your statement. That’s why it’s important to keep on top of your credit card statements and try to pay back the full balance owing each month before the end of the interest free period.

Do credit cards impact your borrowing capacity when you're looking to get a mortgage?

Having a credit card may impact your borrowing capacity, because the banks usually look at the full credit limit that you have on your credit card as a debt, even if you pay back the full balance owing each month on time.