American Express Platinum vs Explorer: Which Card offers better value?

If you’re looking to earn flexible points on spends, you may have spotted the American Express Platinum Card and the Explorer Credit Card. These Cards have many similarities – but what sets each Card apart? What value do you get by paying the annual fee? Is it worth having the Platinum Card, or is the Explorer Credit Card enough?

Of course, that’s entirely up to you. There’s no such thing as a ‘perfect’ Card – we all have different needs, spending patterns and travel habits. But if you’re looking to dip your toe into the world of flexible points with American Express, this guide may help you spot which Card could suit better.

Amex Platinum vs Explorer: earning points

When it comes to earning points, both the American Express Platinum Card and Explorer Card are attached to the Membership Rewards (MR) program. Each Card offers the opportunity to earn uncapped points. However, the number of points earned per dollar spent differs between the Cards. There’s also a slight difference in how you can use those points.

First, here’s a look at a Membership Rewards comparison between those per-dollar rates.

Card / Spending category	Everyday transactions	Government bodies in Australia
Amex Platinum Card	2.25 MR points per $1	1 MR point per $1
Amex Explorer Credit Card	2 MR points per $1	1 MR point per $1

As you can see, the American Express Platinum Card delivers 12.5% more points than the Explorer Credit Card on everyday purchases. For those with smaller overall spends, the difference is less pronounced. But for those who pass significant volumes of transactions through the Card, those extra points can add up quickly.

It’s also worth noting that Membership Rewards has several different types of points. In this case, the Amex Platinum Card is attached to the ‘Ascent Premium’ version of MR, while the Explorer Credit Card uses the ‘Gateway’ version of Membership Rewards. These days, there’s very little difference between the two, but there is one key distinction. Those with Ascent Premium points can convert these into Qantas Points on demand at a 2:1 rate. It’s a rare feature for a personal card in Australia, as Qantas normally requires opting-in for automatic conversion of Qantas Points.

Gateway members can’t convert their points to Qantas. But other than that, the two programs share all of the same airline and hotel points transfer options and rates.

American Express Membership Rewards points transfer options

Points earned via the American Express Platinum Card and the Explorer Credit Card are flexible. They can be converted into frequent flyer points with more than 10 airlines, as well as two hotel chains. Whether you have the Platinum Card (with Ascent Premium) or the Explorer Credit Card (with Gateway), here are those options. Rates are the same for both Ascent Premium and Gateway.

• Air New Zealand Airpoints – 2:1c ($0.01)
• British Airways Club – 2:1
• Cathay (Asia Miles) – 2:1
• Emirates Skywards – 3:1
• Etihad Guest – 2:1
• HawaiianMiles – 2:1
• Hilton Honors – 2:1
• Malaysia Airlines Enrich – 2:1
• Marriott Bonvoy – 3:2
• Qantas Frequent Flyer – 2:1 (Ascent Premium members only)
• Qatar Airways Privilege Club – 2:1
• Singapore Airlines KrisFlyer – 3:1
• Thai Airways Royal Orchid Plus – 2:1
• Velocity Frequent Flyer – 2:1
• Virgin Atlantic Flying Club – 2:1

For spenders seeking to earn airline rewards via American Express, the airline options above provide a strong suite of options. Given that most airline partners use a 2:1 conversion rate, it also provides for a strong effective everyday earning rate on spend.

As an example, the Amex Explorer Credit Card delivers 2 MR points per $1 spent. When redeemed at a 2:1 conversion rate, this means earning 1 frequent flyer point per $1 spent on everyday transactions, uncapped.

Similarly, the Amex Platinum Card delivers 2.25 MR points per $1 spent. When transferred to a program with a 2:1 conversion rate, this is equivalent to earning 1.125 airline frequent flyer points per $1 spent. Or, on government transactions, 0.5 frequent flyer points per $1. Judged solely on earn rate, this makes the Amex Platinum Card the best Amex rewards card that’s currently open for application.

Travel perks of Amex Platinum vs Explorer, including lounge access

While earning points is reasonably similar between the American Express Platinum and Explorer Credit Cards, travel perks set the two cards apart. Both Cards offer a selection of travel benefits, but Platinum takes those to a higher level.

Here’s a high-level view of the key differences on Amex travel perks.

Key benefit	Explorer Credit Card	Platinum Card
Airport lounge access	2x Centurion Lounge visits per year in Australia only.	Unlimited year-round access to 1,400+ airport lounges while travelling.
Annual Travel Credit	$400	$450
Annual Dining Credit	N/A	$200 at eligible restaurants across Australia, plus AU$200 at eligible restaurants overseas each year.
Hotel memberships	Hilton Honors Silver (gets 5th night free on reward stays).	Accor Plus ($399 value, includes a free hotel night each year, 50% discount on dining and Accor Live Limitless Silver). Hilton Honors Gold (includes free daily breakfast or F&B credit). Marriott Bonvoy Gold (includes room upgrades and 2pm check-out). Radisson Rewards Premium (includes room upgrades, early check-in and late check-out).
Hotel booking options	The Hotel Collection	The Hotel Collection plus American Express Fine Hotels + Resorts
Premium cabin airfare savings	N/A	Discounted Business and First Class travel on selected airlines.

The lounge access options on the Amex Platinum Card can be particularly enticing. This includes access to Virgin Australia domestic lounge locations when travelling onwards the same day with Virgin Australia. It also includes complimentary Priority Pass membership, access to Delta Sky Clubs (when flying Delta), Centurion Lounge access internationally, and more.

Domestic and international travel insurance is also complimentary on both Cards.

Annual fees

There’s an old saying – ‘you get what you pay for’. When it comes the American Express Platinum Card and Explorer Credit Card, the same remains true. The Explorer Credit Card costs $395 per year, which some might justify simply from the value of the $400 Annual Travel Credit, which can deliver a net gain before even considering the points and other perks.

The American Express Platinum Card, however, is Amex’s flagship public product. This Card costs a higher $1,450 per year. Yes, it’s expensive – but it’s also designed for those who travel regularly. Assuming you’re able to use the annual $450 Platinum Travel Credit plus the total of $200 in Dining Credits, that’s already $850 in value towards the annual fee.

From there, consider the value of the complimentary recurring Accor Plus membership, valued at $399 per year. This includes a free hotel night every year – and that’s redeemable at five-star hotels, which might even sell rooms for more than $399/night. Add in Priority Pass lounge membership, access to Virgin Australia domestic lounges, the value of hotel perks like free daily breakfast (via Hilton Honors Gold or Fine Hotels + Resorts), and the benefits quickly add up.

Factor in further benefits like a complimentary Amazon Prime subscription and a Premium Digital subscription to The Australian, and it becomes possible for the benefits to exceed the value of the annual fee. Again, that’s without considering the value of the points earned and redeemed.

In any case, both the Explorer Credit Card and the Platinum Card have no fees to add an Additional Card. In fact, you could have up to four Additional Cards to maximise the rewards earned on your family’s spends.

Featured image courtesy of American Express.

More about the topics covered in this article:

• The Ultimate Guide to American Express Membership Rewards
• Amazon Prime benefit for Amex Platinum Card Members
• Are you eligible for an American Express sign-on bonus?
• Guide to the Priority Pass lounge program
• How to get an upgrade on Hawaiian Airlines with Amex Membership Rewards

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