Let’s start with the basics. The Amex Business Explorer comes with a relatively low interest rate of 16.99% and up to 55 interest free days, making it super easy to manage your business’ cash flow.
Transaction data from your Business Explorer account can be fed straight into MYOB. Whether you have 10 employees or 50, business runs smoothly with up to 99 additional cards on offer. Business owners can manage all these cards from one statement, and rewards points on all cards are pooled - helping you reach that free flight or gift card sooner. The best part - there’s no fee for additional card members.
Primary cardholders can cash in on complimentary international travel insurance, but for overseas spending, keep in mind that there is a 3% foreign exchange margin on all purchases.
Now for the fun part - rewards. There’s a 75,000 bonus point offer up for grabs if you apply by September 26, 2018 and spend $3,000 in the first 3 months after approval. Savvy business owners can also get their hands on an extra 50,000 bonus points each year that they meet an annual credit card spend of $100,000, which shouldn’t be hard if you have a few additional cards contributing to the spend as well.
But the rewards value doesn't stop there. The generous regular earn rate of 2 rewards points per $1 spent applies to all purchases, except those at government bodies. But the good news is that unlike many rewards cards, you’ll still earn 0.5 points per $1 on these spends.
Points are uncapped, never expire and you can redeem them for a range of awesome rewards including flights, gift cards, and other retail products.
Who it's good for:
Available to small business owners with an individual income of $24,000 per year, the Business Explorer is a top pick for anyone who wants to manage their businesses cash flow and nab a bunch of rewards value at the same time.
The $395 annual fee is not to be ignored, so think carefully about whether you’ll get enough value from the rewards on offer to justify it.
If you’re planning to use the card internationally, it’s also worth noting the 3% foreign exchange margin on all purchases.