Stream Smarter, Not Harder: Top Credit Cards to Offset Your Streaming Costs
In today’s world, streaming entertainment is a staple for many, but the combined cost of multiple subscriptions can quickly drain your budget. Fortunately, savvy consumers can leverage the power of rewards credit cards to significantly reduce, or even eliminate, the financial burden of their favorite shows and movies. This article explores the best credit cards currently available that offer cashback, statement credits, or other unique perks specifically designed to help you offset the often-substantial cost of streaming subscriptions.
Key Takeaways:
- Unlock significant savings on your monthly streaming bills by utilizing the right credit card rewards.
- Discover cards offering high cashback rates specifically for streaming services.
- Learn about cards providing statement credits to cover the cost of your favorite platforms.
- Explore cards with enticing welcome bonuses to further maximize your savings.
- Understand the advantages and disadvantages of various reward programs and card features to find the perfect fit for your spending habits.
Best Cards for Streaming Services
This section details several top-performing credit cards in different categories, highlighting their strengths and weaknesses to guide your informed decision-making process.
Best for Cash Back: Blue Cash Preferred® Card from American Express
The Blue Cash Preferred® Card from American Express stands out for its generous cash back rewards structure. It offers:
- 6% cash back on up to $6,000 per year in purchases at U.S. supermarkets (then 1%).
- 6% cash back on select U.S. streaming subscriptions.
- 3% cash back at U.S. gas stations and on transit.
- 1% cash back on other purchases.
This card also includes a welcome bonus: Earn a $250 statement credit after you spend $3,000 in eligible purchases within the first 6 months. While there is a $95 annual fee (waived the first year), the high cash back potential, particularly on groceries and streaming, can easily offset the cost for many users. The estimated rewards earned after one year are $679, and $2,397 after five years. Remember that this calculation includes the welcome bonus.
Best for No Annual Fee: Blue Cash Everyday® Card from American Express
If you prefer a card without an annual fee, the Blue Cash Everyday® Card from American Express is an exceptional choice. It boasts:
- 3% cash back at U.S. supermarkets (up to $6,000 per year, then 1%).
- 3% cash back at U.S. gas stations (up to $6,000 per year, then 1%).
- 3% cash back on U.S. online retail purchases (up to $6,000 per year, then 1%).
- 1% cash back on all other purchases.
The welcome bonus is a $200 statement credit after spending $2,000 in purchases within the first 6 months. The estimated rewards earned after one year are $547, and $1,935 after five years, again, this calculation includes the welcome bonus.
Best for Prime Video: Prime Visa
Amazon Prime members should strongly consider the Prime Visa. Its benefits are tightly integrated with the Amazon ecosystem:
- 5% cash back at Amazon.com, Amazon Fresh, Whole Foods Market, and on Chase Travel purchases with an eligible Prime membership.
- 2% cash back at gas stations, restaurants, and on local transit.
- 1% cash back on all other purchases.
The welcome bonus is an instant $200 Amazon Gift Card upon approval. The card’s value is significantly enhanced by the 5% cashback at Amazon, potentially making it a more cost-effective option to cover that portion of your monthly entertainment expenses, as Prime members typically already have substantial monthly usage.
Best for Statement Credits: The Platinum Card® from American Express
For significant statement credits, the The Platinum Card® from American Express shines although it comes with a hefty annual fee. It offers:
- Up to $240 in annual digital entertainment credits ($20 per month on eligible services like Disney+, Hulu, etc., with enrollment).
- Up to $200 in annual airline fee credits.
- Up to $200 in annual Uber Cash.
- Other significant statement credits on hotels and select retailers like Walmart.
The high annual fee of $695 must be considered. However, if you take full advantage of the statement credit offers, the cost can be substantially offset. The substantial welcome bonus of 80,000 Membership Rewards® Points after spending $8,000 on eligible purchases within the first six months also warrants consideration.
Best for Intro APR: U.S. Bank Cash+® Visa Signature® Card
If you need help managing existing debt, the U.S. Bank Cash+® Visa Signature® Card offers a compelling 0% intro APR for 15 billing cycles on purchases and balance transfers made within 60 days of account opening.
- 5% cash back on up to $2,000 in combined eligible purchases each quarter in two customizable categories (you can select "streaming services").
- 2% cash back on one additional everyday category also of your choice.
- 1% cash back on all other purchases.
- $200 bonus after spending $1,000 in eligible purchases within 90 days of opening.
The estimated rewards earned after one year are $478, and $1,790 after five years. The variable APR following the introductory period must be considered before using this card.
Maximizing Your Streaming Credit Card Benefits
To make the most of your chosen credit card, carefully review the terms and conditions. Note that not all streaming services are created equal, and some cards may have specific eligibility requirements which vary according to factors including whether the cardholder subscribes to the streaming service directly or through a third party, and how the subscription was processed. Understand how rewards are earned and redeemed (cash back, travel points, etc.) to align your spending with your financial goals.
Pros and Cons of Using Credit Cards for Streaming
Pros:
- Cost reduction: Statement credits and high cashback rates directly lower your streaming costs.
- Reward earning: Turn ordinary streaming spending into valuable rewards that can be used for other expenses.
Cons:
- Small expense: Compared to other everyday categories, savings accrue slowly.
- Restrictive benefits: Some cards restrict eligible streaming services causing potential limitations in the rewards one can obtain.
Frequently Asked Questions (FAQs)
- What’s the best way to save on streaming services? Besides promotions and free trials, strategically using a credit card with high rewards or statement credits for your chosen streaming service(s) is a smart tactic.
- What’s the best card for streaming subscriptions? The "best" card depends on your individual spending habits and preferences. Consider the annual fee, cashback rates, reward structure, and the welcome bonus.
- Do any credit cards reimburse you for a Netflix subscription? Some cards offer streaming credits, but these aren’t always applicable to every platform. Be sure to check eligibility.
Why Trust CNBC Select?
CNBC Select prioritizes providing readers with reliable, unbiased information to aid them in making informed financial decisions. Our assessments of credit cards adhere to high journalistic standards, ensuring accuracy, transparency, and a fair representation of all details and terms.
Our Methodology
CNBC Select’s analysis involves a comprehensive review of over 250 major credit cards, evaluating numerous features to identify the best options for maximizing streaming service savings. This thorough evaluation of factors such as rewards rates, annual fees, and additional perks such as statement credits, aims to generate unbiased and helpful recommendations for credit card users.
