Amex Explorer vs NAB Signature vs Westpac Altitude 2026

Updated: September 2026.

TL;DR verdict

For an Australian traveller who flies overseas one to four times a year in September 2026, Amex Explorer is the highest-value card at AUD 395 annual fee thanks to the AUD 400 annual travel credit that fully offsets the fee, plus Membership Rewards flexibility across nine airline transfer partners. NAB Rewards Signature at AUD 295 is the best pick if you need Visa acceptance and stronger complimentary travel insurance. Westpac Altitude Platinum at AUD 150 is the entry-level option for occasional travellers who want the Altitude Rewards program without a premium fee. Compare on ShopBack before applying to check current sign-up bonuses across all three.

The three cards in one sentence each

Amex Explorer is American Express Australia's mid-tier travel card with a AUD 400 annual travel credit, 2 Membership Rewards points per dollar on most spend, and Amex network acceptance limits. NAB Rewards Signature is a Visa card issued by NAB with 1.25 points per dollar on domestic and 2.25 on international spend, complimentary international travel insurance, and Qantas/Velocity/Krisflyer transfer options. Westpac Altitude Platinum is Westpac's Visa card with Altitude Rewards points and a broader retail partner list at a lower annual fee.

Where these numbers come from

The Reserve Bank of Australia has repeatedly cited credit card interchange and fee competition in its Payment Systems Board reports. The RBA notes that "the ongoing decline in interchange fee revenue has put pressure on issuer rewards program economics" and that "premium card rewards have become more targeted and less generous over the past decade." That structural pressure is why mid-tier cards in Australia now compete more on annual credits (Amex Explorer AUD 400 travel credit) than on raw points per dollar.

American Express Australia states on its Explorer product page that the card offers "AUD 400 Travel Credit each year" plus "2 Membership Rewards points for every AUD 1 spent on most purchases." NAB states the Rewards Signature card offers "up to 90,000 bonus NAB Rewards Points" as sign-up bonuses at various promotional windows, with 1.25 points per dollar on domestic spend. Westpac's Altitude Platinum page describes it as "the perfect entry into the world of Altitude Rewards" at AUD 150 annual fee.

The 2026 grid

Feature	Amex Explorer	NAB Rewards Signature	Westpac Altitude Platinum
Annual fee	AUD 395	AUD 295	AUD 150
Network	Amex	Visa	Visa
Base earn rate (per AUD)	2 MR points	1.25 NAB Rewards points (2.25 international)	1.25 Altitude points (2.5 international)
Annual travel credit	AUD 400 (offsets fee)	Not offered	Not offered
Complimentary travel insurance	Yes	Yes (strong)	Yes
Airline transfer partners	9 (Qantas via Ascent Premium; Velocity, Krisflyer, Cathay, Etihad, etc.)	Qantas, Velocity, Krisflyer	Velocity, Krisflyer (Qantas via Altitude Qantas variant)
Priority Pass or lounge	2 Priority Pass visits per year	Not included	Not included
Effective net cost year 1 (with credit used)	AUD -5 (net gain if credit fully used)	AUD 295	AUD 150

Numbers reflect published 2026 fees and terms. Sign-up bonuses vary monthly.

Where each card wins

Amex Explorer wins on travel credit economics. The AUD 400 annual travel credit (usable on Amex Travel bookings including flights, hotels, and packages) more than offsets the AUD 395 annual fee if you use it. For anyone taking at least one flight or hotel booking through Amex Travel per year, the card is effectively free. Layer in 2 points per dollar on most spend and nine airline transfer partners, and the raw value is the highest of the three cards for anyone with active international travel plans.

NAB Rewards Signature wins on Visa acceptance and insurance. Amex acceptance in Australia has improved since the 2016 RBA interchange reforms but still lags Visa and Mastercard, particularly at small merchants, some medical providers, and rural fuel stations. NAB Signature is a straight Visa that works everywhere, and NAB's complimentary international travel insurance is regarded as one of the more comprehensive in the mid-tier bank card space. NAB also offers Qantas Frequent Flyer, Velocity, Krisflyer, and other airline transfers at 2:1 ratios on most partners.

Westpac Altitude Platinum wins on entry price. At AUD 150 annual fee, it is the cheapest of the three by a wide margin. For an Australian who travels overseas once every 18 to 24 months and does not want to over-invest in a rewards card, Altitude Platinum earns respectable Altitude points, converts to Velocity and Krisflyer, and covers baseline travel insurance. It is not the maximum-value card, but the lower fee ceiling makes it defensible for lower-frequency travellers.

Points and transfer partners

American Express Membership Rewards Ascent Premium points (the version that ships with Explorer) transfer at 2:1 to Qantas Frequent Flyer, meaning 2 Amex points equals 1 Qantas point. Velocity, Krisflyer, and Cathay Pacific Asia Miles transfer at similar 2:1 or 1.5:1 ratios. The nine-partner range is the widest in the Australian mid-tier travel card market as of September 2026.

NAB Rewards points transfer to Qantas Frequent Flyer at 2.5:1, and to Velocity, Krisflyer, and Cathay at similar ratios. NAB has repeatedly emphasised in card marketing materials that "domestic and international spend earn points" with the international multiplier providing additional value for offshore purchases.

Westpac Altitude Rewards points transfer to Velocity and Krisflyer at various ratios. Qantas transfers require the Altitude Qantas variant of the card, not the standard Altitude Platinum. For Qantas-focused earners, NAB Signature or Amex Explorer is stronger than Westpac Altitude Platinum standard.

Use case segmentation

For a once-a-year overseas traveller flying economy to Bali, Fiji, or New Zealand: Westpac Altitude Platinum at AUD 150. Enough Altitude points to convert to a few thousand Velocity points per year, no over-payment on annual fee.

For a twice-a-year traveller flying to Asia, Europe, or the US in economy or premium economy: Amex Explorer. The AUD 400 travel credit routinely applies to flight or hotel purchases, and 2 points per dollar accumulates meaningfully on daily spend. Membership Rewards flexibility across nine partners gives you optionality on award redemption.

For a quarterly traveller who mixes domestic business travel with overseas leisure: NAB Rewards Signature paired with a separate Amex card. NAB handles domestic and non-Amex-friendly merchants; keep an Amex for Amex-accepting spend to double-dip points. Two cards, one Visa one Amex, is the classic Australian rewards stack.

For a small business owner with high monthly card spend: Amex Explorer wins on 2 points per dollar on effectively all spend, and the AUD 400 credit compounds trip savings. Small business Amex variants offer additional per-employee card options.

When this framework does not apply

If you carry a balance: none of the three cards make sense as revolving debt vehicles. Purchase APR on all three sits in the 20 to 23% range. Rewards value is completely erased by interest costs above one billing cycle. RBA guidance on personal credit card debt consistently emphasises paying the full balance monthly.

If you never fly: none of the three cards optimise for pure retail spend. Look at cashback-focused cards or fee-free rewards cards instead.

If you are looking at premium travel cards (Amex Platinum, ANZ Black, NAB Business Signature): those sit at AUD 700 to AUD 1,750 annual fee tiers with different value equations (lounge access, higher travel credits, elite status matches).

The sign-up bonus layer

Sign-up bonuses on all three cards fluctuate month to month. Amex Explorer periodically offers 50,000 to 100,000 Membership Rewards points on minimum spend of AUD 3,000 in the first three months. NAB Signature has offered up to 90,000 NAB Rewards points. Westpac Altitude Platinum promotions have run at 20,000 to 40,000 Altitude points. Check current offers directly on the card issuer sites, since promotional cycles rotate. Use ShopBack to compare rates and check for cashback offers on new credit card applications when available.

Frequently asked questions

Is Amex Explorer worth the AUD 395 annual fee?

Yes, if you use the AUD 400 annual travel credit. The credit applies to Amex Travel bookings on flights, hotels, and packages, and fully offsets the fee for anyone taking at least one flight or hotel purchase through Amex Travel per year. Layer in 2 Membership Rewards points per dollar on most spend and the effective net cost is zero to negative in year one.

Does NAB Rewards Signature give Qantas points?

Yes, NAB Rewards points transfer to Qantas Frequent Flyer at 2.5:1. NAB Signature also transfers to Velocity Frequent Flyer, Singapore Airlines Krisflyer, Cathay Pacific Asia Miles, and other partners. The 1.25 points per dollar domestic earn rate translates to roughly 0.5 Qantas points per dollar after transfer.

Which card has the best travel insurance in Australia mid-tier?

NAB Rewards Signature is generally regarded as offering the strongest complimentary international travel insurance in the mid-tier Visa card segment. Coverage includes overseas medical, cancellation, luggage, and rental car excess. Read the current NAB PDS for full terms; travel insurance coverage varies by activation trigger.

Is Westpac Altitude Platinum better than the standard Altitude card?

Yes on earn rate and international multiplier. Altitude Platinum earns 1.25 Altitude points per dollar domestically (vs 0.75 on standard Altitude) and 2.5 internationally. Annual fee is higher but the point earn premium usually justifies the fee difference for spenders above AUD 20,000 per year.

Do all three cards offer complimentary travel insurance?

Yes, all three offer complimentary international travel insurance activated typically by using the card for the trip prepayment. Amex Explorer, NAB Signature, and Westpac Altitude Platinum all include overseas medical, trip cancellation, and luggage coverage. Compare the PDS documents for specific inclusions, exclusions, and pre-existing condition terms.

Which card is best for occasional Bali or Fiji trips only?

Westpac Altitude Platinum at AUD 150 is the lowest-fee option that still provides travel insurance and Altitude Rewards points for once-a-year or once-every-two-year overseas trips. Amex Explorer overpays the annual fee if you do not use the AUD 400 travel credit through Amex Travel.

Can I use Amex Explorer for petrol and groceries?

Yes at most major supermarket and petrol chains in Australia (Coles, Woolworths, BP, Shell). Smaller independent grocers, some rural fuel stations, and some medical providers do not accept Amex. This is why many Australians pair Amex Explorer with a Visa card (like NAB Signature) as backup.

What are Membership Rewards Ascent Premium points?

Ascent Premium is the version of Amex Membership Rewards that ships with the Explorer, Platinum Business, and select other Amex Australia cards. Ascent Premium points transfer to nine airline partners including Qantas, Velocity, Krisflyer, Cathay, and Etihad. Ascent (non-Premium) has a narrower partner list.

Is NAB Signature accepted overseas without fees?

NAB Signature is a Visa card accepted at Visa merchants worldwide. Foreign transaction fees typically apply at 3% of the transaction amount unless you use a paired NAB Global Alert or specific fee-free variant. Check current NAB terms; foreign transaction fee structures on Australian bank cards change periodically.

How do I choose between Amex Explorer and NAB Signature?

Amex Explorer if you can use the AUD 400 travel credit and Amex is accepted at most merchants you visit. NAB Signature if you value Visa universal acceptance and stronger complimentary travel insurance. Many Australian frequent-flyer maximisers hold both cards, using Amex where accepted and NAB as universal backup.

Which card earns Qantas points fastest per AUD spent?

Amex Explorer at 2 Membership Rewards points per dollar transfers at 2:1 to Qantas Frequent Flyer, netting 1 Qantas point per dollar. NAB Signature at 1.25 NAB points per dollar transfers at 2.5:1, netting 0.5 Qantas points per dollar. Amex Explorer is roughly 2x faster on Qantas points earn.

Are credit card sign-up bonuses reliable in 2026?

Yes, all three card issuers run recurring sign-up bonus promotions in 2026. Amex Explorer bonuses cycle at 50,000 to 100,000 MR points; NAB Signature at 60,000 to 90,000 NAB Rewards; Westpac Altitude Platinum at 20,000 to 40,000 Altitude points. Check the issuer's live promo before applying and note the minimum spend requirements.

Does ShopBack offer cashback on credit card applications?

Cashback on credit card applications is offered periodically through ShopBack Australia for select issuers. Check ShopBack before starting an application to see if a cashback offer is live for Amex, NAB, or Westpac cards. Use ShopBack to compare rates and combine with sign-up bonuses.

What is the minimum income to qualify for Amex Explorer?

American Express Australia typically requires personal income of at least AUD 65,000 per year for Amex Explorer applications, with permanent Australian residency and a good credit history. NAB Signature and Westpac Altitude Platinum have similar income requirements in the AUD 50,000 to AUD 65,000 range.

Do these cards offer complimentary airport lounge access?

Amex Explorer includes 2 complimentary Priority Pass visits per year. NAB Signature and Westpac Altitude Platinum do not include lounge access as standard. For unlimited lounge access, you need a premium tier card (Amex Platinum, ANZ Black, or similar) or a paid Priority Pass membership.

Primary sources referenced

• Amex Explorer Credit Card (American Express Australia)
• NAB Rewards Signature Card
• Westpac Altitude Platinum
• RBA Payment Systems Board Annual Report
• Qantas Frequent Flyer earn and transfer

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Garry Shi writes about credit cards and personal finance for ShopBack Australia. Annual fees, earn rates, and promotional bonuses are indicative as of September 2026 and change with issuer promotions. Always read the current Product Disclosure Statement before applying. Not financial advice.