With most Americans currently under orders to stay home, many people are finding themselves with spare time. Thankfully, there is no shortage of digital entertainment options available now. Dozens of new streaming entertainment options have launched in the last couple of years, giving homebound Americans seemingly endless hours of entertainment options.
Whether you’re signing up for a new streaming service or looking to maximize the subscriptions you already have, it’s important to use the right credit card. Let’s take a look at your options.
Best Cash Back Credit Cards for Streaming Services
With many travelers grounded by the coronavirus, earning cash back is going to be more of a priority than airline miles or hotel points. The good news is there are a few excellent cash back options for streaming services.
Blue Cash Preferred® Card from American Express
The best overall card for paying for streaming services is the Blue Cash Preferred® Card from American Express. This card earns an excellent 6% cash back on purchases at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) and 6% cash back on select streaming services—two very relevant categories right now.
The list of eligible streaming services is extensive, including Apple TV+, Apple Music, AT&T Now, CBS All Access, Disney+, ESPN+, HBO Now, Hulu, iHeartRadio, Netflix, Pandora, Showtime, Sling TV, Spotify, YouTubeTV and more.
If you don’t have the card yet, it’s offering a solid welcome bonus of $250 cash back after spending just $1,000 in the first three months of card membership. If you spend all $1,000 on streaming services and grocery stores, you’ll earn a combined 31% cash back on these purchases.
Chase Freedom® Card
From April through June 2020, the Chase Freedom Card is going to be your next-best cash back option. This card earns 5% cash back on up to $1,500 in purchases on select categories that change each quarter.
For the second quarter of 2020, the categories were originally announced as grocery stores, fitness clubs and gym memberships. However, thanks to a last-minute addition, “select streaming services” will also earn 5% cash back for the next three months.
Chase’s list of eligible streaming services includes: Disney+, Netflix, Hulu, Sling, Vudu, Fubo TV, Apple Music, SiriusXM, Pandora, Spotify, YouTube, ESPN+ and Google Play.
Keep in mind that this 5% earning is not automatic. You need to register your Chase Freedom Card each quarter before you’ll earn 5% cash back on eligible purchases.
U.S. Bank Cash+ Visa Signature Card
The U.S. Bank Cash+ Visa Signature Card is a unique card. Rather than having set bonus categories, this no-annual-fee credit card lets cardholders choose their own 5% cash back categories. Cardmembers earn 5% cash back on the first $2,000 in combined purchases each quarter in the two categories chosen.
There are 12 different categories to choose from, including gyms/fitness centers, movie theaters and fast food. In normal times, cardmembers might have trouble choosing between the list. However, in the days of social distancing, the TV, Internet & Streaming Services category is looking pretty appealing.
Wells Fargo Propel American Express®
Another no-annual-fee credit card that offers a solid return on streaming services is the Wells Fargo Propel American Express® card. You’ll earn 3 points per dollar spent on select online streaming services: Apple Music, Hulu, Netflix, Pandora, Sirius XM Radio and Spotify Premium.
This card also earns 3 points per dollar spent when “eating out and ordering in” as well as on a number of travel-related expenses: gas stations, rideshares, transit, flights, hotels, homestays and car rentals. These other categories might not be useful in the next few months, but the Wells Fargo Propel American Express® card is a solid long-term option for travelers looking for a no-annual-fee credit card.
Apple Card
For those in the Apple ecosystem, the Apple Card is a solid choice. You’ll earn 3% cash back on all Apple purchases—from a new iPhone to everyday purchases in the App Store. If you don’t have a credit card with better earnings, the Apple Card should be your go-to for Apple TV+ subscriptions.
Best Travel Rewards Credit Cards for Streaming Services
Although you might not be traveling now, it can still be a good idea to earn points and miles to use toward future trips. However, compared with a category like travel, there aren’t many travel rewards cards that have a spending bonus for streaming services.
Citi Premier℠ Card
One of the only credit cards that offer bonus points for entertainment spending is the Citi Premier℠ Card. Cardmembers will earn 2 ThankYou points per dollar spent on entertainment and restaurant purchases. Citi’s definition of the entertainment category is broad and specifically includes “on-demand internet streaming media.”
Plus, once we can start traveling again, you’ll earn 3 ThankYou points per dollar spent on travel and gas purchases.
The Blue Business® Plus Credit Card from American Express
If you have a small business, the Blue Business® Plus Credit Card from American Express is an absolute must. Despite having no annual fee, this card earns 2 Membership Rewards per dollar spent on the first $50,000 in purchases each year.
So, although the card doesn’t have a bonus category for entertainment, it could be a go-to for paying for streaming services if you don’t have another card that earns more.
Other Ways to Save on Streaming Services
There’s more to consider than credit card earnings. You may be able to maximize your purchase by signing up for an offer or clicking through a portal to earn cash back or bonus points.
Save By Using Amex Offers
If you have an American Express credit card, check the list of Amex Offers to see if you’re targeted for cash back or bonus miles for streaming service. For example, I’m currently targeted for the following:
- Showtime: Get $5 back when spending $10 or more. Up to 3 times, max $15 back.
- CBS All Access: Get $5 back when spending $9 or more. Up to 2 times, max $10 back.
- Fubo TV: Get $20 back when spending $40 or more. Up to 3 times, max $60 back.
If you have more than one Amex card, you may notice that a particular offer may show up on the Amex Offers list for multiple cards. However, you’re going to need to choose carefully which card you register. Amex limits Amex Offers to one offer per cardholder. Once you register using one card, you won’t be able to register any other cards for the same offer.
Earn a Bonus Through a Shopping Portal
The way to maximize your streaming services subscription is to sign up through a cash back or points-earning shopping portal. Just by taking the extra step of clicking through one of these portals, you can earn cash back or bonus miles or points.
For example, you can currently earn 500 bonus miles for signing up for Hulu through the American Airlines AAdvantage eShopping portal.
Meanwhile, Disney fans can earn $12.50 cash back for signing up for Disney+ through Rakuten or earn $10 cash back for a Disney+, Hulu and ESPN+ bundle.
However, not all streaming services participate in these shopping portals, and the payouts can vary from day to day. One of the best sources for current rates is CashBack Monitor.
The situation will evolve and eventually we’ll all be able to access entertainment both inside and outside the house. However, the trend towards streaming is not going away. By making the choices to maximize your streaming purchases now, you’ll be earning rewards for years to come.
