Bingeing All the Latest Shows? This Amex Card Could Help Cut Back on Streaming Costs

Subscribers face a plethora of compelling series across diverse streaming platforms. From gripping dramas to captivating comedies like Severance, Adolescence, White Lotus, and Daredevil: Born Again, accessing this wealth of content often necessitates multiple streaming subscriptions, leading to escalating monthly expenses. Exploring strategies to save money on streaming services is increasingly pertinent.

Strategies to Reduce Streaming Costs

While bundling services, leveraging trial periods and rotating subscriptions offer avenues for savings, utilizing a credit card with streaming rewards presents another effective approach. FASTNET, a financial services authority, highlights the Blue Cash Preferred® Card from American Express as a leading choice for streaming enthusiasts. This card, favored for streaming, groceries, and more, has recently broadened its rewards program to encompass additional streaming platforms.

The Blue Cash Preferred® Card from American Express, already recognized for providing substantial cash-back rates on streaming, has expanded its coverage to include services like AMC+, Discovery+, and Starz, among others. This expansion increases the total number of eligible streaming services to 32.

However, the cumulative expenses of numerous streaming subscriptions can rapidly mount. Credit expert Lee Huffman observes, “Many consumers maintain multiple services, with costs rivaling traditional cable TV,” adding that it’s easy to overlook subscriptions and continue payments for services no longer actively used.

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As a frequent user of the Blue Cash Preferred card for my streaming expenses, I will explain the benefits.

Amex Blue Cash Preferred: A Top Choice for Streaming Rewards

The Blue Cash Preferred card stands out for its exceptional rewards on streaming service purchases, offering an unmatched 6% cash back on select U.S. streaming subscriptions, without any earnings cap.

While it carries a $95 annual fee (with a $0 introductory annual fee for the first year; see terms and fees), the benefits can outweigh the cost. Although streaming rewards alone might seem modest, for instance, a $40 monthly streaming bill yields only $2.40 back per month.

The card’s value proposition is amplified by its 6% cash back at U.S. supermarkets (on the first $6,000 in yearly spending, then 1%), providing substantial reward-earning potential for everyday expenses.

Disney+ Bundle subscribers (Disney+, Hulu, and ESPN+) gain an additional perk: a $7 monthly statement credit when the subscription cost of $9.99 or more is paid with the card, totaling $84 in annual savings.

Throughout my four years of using this card, the accumulated cash back has consistently exceeded the annual fee, delivering hundreds of dollars in net rewards.

Evaluating the Worth of an Annual Fee

For individuals subscribing to multiple streaming platforms like Spotify, Disney Plus, Netflix, and Max, combined subscription expenses can accumulate rapidly.

A credit card that provides rewards for streaming subscriptions can effectively offset some of these costs. However, it’s important to note that streaming rewards alone are typically not substantial. Even with a generous 6% cash-back rate, a $50 streaming bill only generates $3 in monthly rewards.

Determining whether a card’s annual fee is beneficial involves comparing its reward structure against your typical spending habits. The Blue Cash Preferred, for example, has a $95 annual fee ($0 intro annual fee for the first year), but its combined rewards on supermarket purchases, streaming services, and gas can easily surpass $95 annually for many users.

While accumulating $96 in streaming rewards alone would require $1,600 in streaming spending, which is unlikely for most, reaching this reward value through combined spending on gas and groceries is significantly more attainable.

Streaming rewards function as a supplementary advantage, requiring minimal effort and providing consistent, though modest, returns.

Selecting the Optimal Credit Card for Streaming Services

The most advantageous rewards credit card for streaming subscriptions is the one that offers the most lucrative rewards. Given the relatively low cost of individual streaming subscriptions (unless subscribing to numerous services), returns on these categories may not be high. Therefore, aligning a card’s broader reward categories with your overall spending habits is crucial.

If a card includes an annual fee, assess whether your spending patterns can generate enough rewards to offset it. Otherwise, the fee effectively diminishes the value of your earned rewards.

Verifying that a card provides rewards for your specific streaming services is also essential. While most major services are typically covered, niche platforms like Shudder may not always be included. Card terms generally outline the eligible streaming subscriptions.

Maximizing Credit Card Value

To fully leverage your streaming rewards credit card, take these steps:

• Update Payment Methods: Designate your new credit card as the payment method within your streaming service accounts. Rewards are accrued only when using the card for payments.
• Utilize for Broader Spending: Maximize rewards across all applicable spending categories offered by the card.
• Achieve Welcome Offers: If applicable, aim to meet spending requirements for welcome offers through routine spending to maximize initial benefits. Avoid overspending solely to reach bonus thresholds, as this can negate the bonus value.

Alternative Reward Strategies for Streaming

For individuals seeking rewards across a wider spectrum of purchases beyond solely streaming services, a flat-rate rewards credit card can be a valuable addition. These cards dispense rewards on all purchases, regardless of spending category.

Credit Card Application Process

Once you’ve identified a suitable card, the application process generally involves these steps:

1. Visit Issuer Website: Navigate to the credit card issuer’s website to access the online application form.
2. Complete Application Form: Furnish all requested personal and financial details, including your Social Security number, housing payment (rent or mortgage), income, address, and phone number.
3. Await Decision: Typically, the issuer’s decision is provided almost instantaneously, although occasionally, additional information may be required.
4. Responsible Card Use: Practice responsible credit card management by consistently paying your balance in full and promptly to avoid incurring interest charges and protect your credit score.

Terms and conditions apply to American Express benefits and offers. Enrollment may be necessary for certain American Express benefits and offers. Visit americanexpress.com for details.

For complete rates and fees associated with the Blue Cash Preferred Card from American Express, please click here.

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The editorial content presented is formulated solely from objective, independent evaluations by our writers and is not influenced by advertising or partner collaborations. No third party has provided or commissioned this content. We may, however, receive compensation if you engage with links to products or services offered by our partners.