Over the past year, consumers have changed the way they spend money. And let’s be honest: We’re all watching a little more Netflix and Hulu than we should be. That’s OK.
As travel starts to rebound, it’s a great time to earn some extra points and miles for future trips – or save some money on your streaming services. Banks have made that much easier with new category spending bonuses, and new benefits on some of the most popular travel rewards credit cards.
So that begs the question: Are you using the right credit cards to maximize your benefits and lower your costs? Let’s take a look at your best options for paying for Netflix, Hulu, Disney+, Spotify, and more.
The Platinum Card® from American Express
The Platinum Card® from American Express is one of the best premium travel credit cards out there.
Starting in July of 2021, Platinum cardholders will now get up to $240 each year for a digital entertainment credit. You’ll get up to $20 in statement credits each month when you pay for eligible purchases at Peacock, Audible, SiriusXM, and The New York Times.
So while it is restricted, it can substantially lower your costs of a Peacock membership for streaming.
Click Here to learn more about the Platinum Card from American Express.
Capital One Venture Rewards Credit Card
Through April 2021, you can redeem Capital One Venture miles for online streaming platforms, restaurant takeout, and food delivery services.
It works just the same as redeeming Venture miles toward travel. Just put the purchase on your Capital One card, and after the purchase posts (typically within a few days), use miles to cover the cost using “Cover Your Purchases.” From there, you can redeem miles on a list of eligible purchases using the Purchase Eraser feature.
Just as with travel purchases, miles are worth 1 cent each on food and streaming services. So your $12.99 Netflix bill can be covered with just 1,299 Venture miles.
And regardless of what spending you put on your Capital One Venture card, it will earn 2x miles for every dollar spent.
Click Here to get more information about the Capital One Venture Rewards Credit Card.
The Blue Cash Preferred® Card from American Express
Not everybody values points and miles. So if earning cashback on your streaming subscriptions is a priority, look no further than the Blue Cash Preferred® Card from American Express. It earns 6% cashback on select U.S. streaming subscriptions.
In addition, it earns 6% cashback at U.S. supermarkets on up to $6,000 of purchases each year (and then 1% back) and 3% cashback per dollar spent at both U.S. gas stations and transit including taxis/rideshare, parking, tolls, trains, buses, and more.
Currently, the card is offering 20% back on Amazon.com purchases on the card within the first six months of card membership, up to $200 back. Plus, earn $150 back after you spend $3,000 in purchases on the card within the first six months of card membership. You will receive cash back in the form of statement credits. And the $95 annual fee is waived for the first year (see rates & fees)!
Click Here to learn more about the Blue Cash Preferred Card from American Express
The Chase Freedom Flex Card
Through March 2021, The Chase Freedom Flex Card earns 5% back on select streaming services (up to $1,500 each month). So while you don’t have a ton of time to take advantage of this category, the card offers rotating quarterly category bonuses that make it worth a look. It seems likely that streaming services will be offered sometime again in the future.
You’ll earn $200 back after spending $500 in the first three months of card membership. And that $200 can be turned into 20,000 Ultimate Rewards points. It’s easily one of our favorite no annual fee cards.
Click Here to learn more about the Chase Freedom Flex
If you are spending money on streaming services, give one of these credit cards a look. They can either provide you with a credit to make them cheaper or accelerate your ability to earn points and miles (or cashback) for a future trip.