Hi this question is specific about American Express Explorer which is today rarely chosen now due to the low value in the points.
I'm going to close it because I already have another American Express card (David Jones). Before I do so I had to use up all the 20,000 points.
What's the most valuable way to use them or transfer them to other points for value-keeping?
Speaking of using them, I'm travelling in China the next month but already bought my flights with cash, without thinking. Maybe I can use the points for a hotel when in Beijing.
To be honest, 20k points won't really get you anything by itself, so probably the best answer is to transfer them to a program where you intend to keep earning more points in, in future.
Otherwise, I would probably convert them to Velocity points (converts to 10k), on the assumption that you'll find a use for them, perhaps on a domestic flight in Australia.
Next best alternative could be to transfer them to Marriott (converts to 13k points), which would allow you to use the points towards a hotel night. Most hotels will cost more than 13k for a single night though, so it won't get you far - although in some smaller cities / further away places in China you might find a hotel for 12,500 a night.