Advice please- This AmEx Deal Is Too Good to Be True (The American Express Explorer)

teacherer on 23/04/2017 - 14:18
Last edited 23/04/2017 - 14:58 by 1 other user

So I've been reading the credit card guide and have decided on either the American express explorer ($400p.a) to then downgrade to the american express platinum edge (195p.a)

The explorer is currently doing 100,000 free amex points. According to their rewards program this equates to between $500-1000 in coles vouchers
This easily pays the annual fee not even taking into consideration their $400 a year travel voucher

Am I missing something or is this awesome?

Can you guys please help me understand how to change down to the platinum edge once i've spent my explorer points and how long to wait etc?

Thanks guys

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Comments

  • daft009 on 23/04/2017 - 16:35

    yes you could apply for both right now.
    you would get $200 & $400 in travel credit (cannot be used together in one transaction).
    yes you can cancel one in 9-10months time and cash out your points at that time.
    better than the coles vouchers could be actual cashback on your card, 1000 points = $7.41 explorer points into your account though i would double check this.

  • illumination on 24/04/2017 - 11:28

    Am I missing something or is this awesome?

    Your understanding is correct.

    People say "if it's too good to be true, then it probably is" - but this is not the case here.

    Just to be clear, you can't "downgrade" to the Platinum Edge. You'll have to apply for it separately, as if it's a completely separate application.

    For the 100k bonus points, you could stretch those points further if you're someone that flies leisurely from time to time (by redeeming those points for a flight instead of using them on gift cards). This of course depends on your own personal circumstances though.

    • [Deactivated] on 24/04/2017 - 14:34

      Is Explorer on the same rewards scheme as Essential? I've made a mistake by applying for the Essential a couple years ago ( still have the card) and I think I'm not eligible for the introductory bonuses from Explorer. Called staff a couple of times and they said you will be ineligible but I think their response contradicts some of the reports I've read in OzB.

      • illumination on 24/04/2017 - 14:46
        +2

        Holding any direct issued AMEX card means you're not eligible.

        However, if you're on a different rewards program then you may be able to get the bonus points anyway (which is probably what you've read on OzB). The AMEX Essential is on the same rewards program as the Explorer though, so you are highly unlikely to be able to get the bonus points… coupled with the fact that they seem to have tightened up, so even if you're on a different rewards program, recent reports suggest you no longer get the bonus points, and the T&Cs are being upheld exactly as worded (i.e. you hold, or have held in the last 18 months a direct-issued AMEX? no bonus points for you)

        • daft009 on 24/04/2017 - 15:10

          yeah they are getting quite strict now when it comes to these things.
          before Jan 31st, as long as the cards were under different programs you got the bonus points for both.

        • starburstyellow on 25/04/2017 - 15:15

          @daft009: Yeah very strict. Some AFF forums already got some people who did not get their 2nd lot of bonuses.

          OP my advice to you, if this is your first Amex. Go for the Explorer first.

        • daft009 on 25/04/2017 - 15:17

          @starburstyellow:

          I got both, the PE signup 15k also came through randomly 3 weeks after I had spent $750 on day 1 of activation. totally wasn't expecting it.
          I applied in Feb for the PE, had the explorer since Sept at launch

        • starburstyellow on 25/04/2017 - 16:03
          +1

          @daft009: Yeah ive got friends who singed up in March and got minumum spend. Did not get the bonus. Think Jan/Feb was ok. Think they only started clamping down in Mar.

        • daft009 on 25/04/2017 - 16:34

          @starburstyellow:
          Sorry mate, mine was March as well, not Feb. Early March was activation

        • starburstyellow on 25/04/2017 - 16:47

          @daft009: Hmm odd. Ill ask my friend again. he definitely didnt get it when I asked him few weeks ago. He has velocity Amex, applied for explorer. got 0 bonus till now.

        • starburstyellow on 26/04/2017 - 19:26

          @daft009: hey just confirmed, my friend has not got the bonus points for his Explorer, as having got an existing amex velocity. And yes he did use a referral link, I know, cuz I got the referral bonus :D

        • daft009 on 26/04/2017 - 20:40

          @starburstyellow:

          Mine took 3 weeks to show up. How long has he had the explorer?

        • starburstyellow on 26/04/2017 - 23:06

          @daft009: wow 3 weeks huh. When I got mine (i had Amex Qantas, then Amex Exporer) the points came within 48 hours of going over the minumum spend.

          He has the explorer for over 2 months, and reached minimum spend 3 weeks ago.

        • vchan on 12/05/2017 - 11:40

          Damn. I dunno why I applied for Amex Essential when this deal was on. It really sucks that I can't tap into the bonus points.

  • teacherer on 24/04/2017 - 12:04

    Thanks for your in depth response
    Cleared some things up for me

    • ozberg on 11/05/2017 - 10:59

      As per others' comments, please don't use your points for vouchers, that'd be a real waste. Feel free to send me a PM if you have any questions on how to best use these points - I've learned a lot through other members and happy to share info/experiences.

      • Aceman98 on 27/09/2017 - 12:27

        Hi there, I'd be very interested in learning how to best use these points please. There's so many different options to figure out which is the best

  • keepa on 09/05/2017 - 09:23

    Go for the explorer and use a referral link.

    If you travel then you can use those points for so much more than just a $500 coles card.

  • l2argain on 11/05/2017 - 20:13

    So if my husband has an AMEX QAntas discovery he won't get the bonuses? What if I cancel it? We don't owe any money. We cut it up ages ago.

    • teacherer on 11/05/2017 - 20:23
      +1

      Needs to be 18m after cancellation
      Your name perhaps

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