Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.
Streaming services have their time to shine right now with the ongoing coronavirus pandemic that is keeping most Americans at home. Services like Netflix, Disney+ and Hulu are all competing for customers' attention and some services are offering bundles that can allow you to get multiple services at a lower rate.
In addition to taking advantage of bundle offers, you can maximize savings by using a rewards credit card that offers up to 6% cash back on eligible streaming services. These cards are a great way to save on multiple streaming services while you enjoy TV and movies.
Below, Select reviews how you can maximize rewards on streaming services, such as Netflix, Disney+ and Hulu, and movie rental purchases with the right credit card.
Best for streaming services and movie rentals
The Blue Cash Preferred® Card from American Express is a low-fee card with generous cash-back rewards and useful ongoing benefits, such as a monthly Disney Bundle credit. (Enrollment required for select benefits mentioned)
- High cash-back earnings for U.S. supermarkets and streaming services
- Intro-APR offer for purchases and balance transfers
- No annual fee for the first year
- It's less rewarding after the first year because of the annual fee
- Bonus rewards for U.S. supermarkets are capped
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Apply and find out your welcome offer. As High As $300 cash back* after you spend $3,000 in purchases on your new Card within the first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply, and if approved: 1. Find out your offer amount 2. Accept the Card with your offer 3. Spend $3,000 in 6 months 4. Receive the cash back. *Cash back is received in the form of Reward Dollars that can be redeemed for a statement credit or at Amazon.com checkout.
- $0 intro annual fee for the first year, then $95.
- Enjoy 0% intro APR on purchases and balance transfers for 12 months from the date of account opening. After that, your APR will be a variable APR of 19.49%-28.49%.
- Plan It®: Buy now, pay later with Plan It. Split purchases of $100 or more into equal monthly installments with a fixed fee so you don't have the pressure of paying all at once. Simply select the purchase in your online account or the American Express® App to see your plan options. Plus, you'll still earn rewards on purchases the way you usually do.
- Earn 6% cash back at U.S. supermarkets on up to $6,000 per year in eligible purchases (then 1%), 6% cash back on select U.S. streaming subscriptions, 3% cash back at eligible U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more) purchases and 1% cash back on other purchases. Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit and at Amazon.com checkout.
- Get up to a $10 monthly statement credit after using your enrolled Blue Cash Preferred® Card for a subscription purchase, including a bundle subscription purchase, at DisneyPlus.com, Hulu.com, or Stream.ESPN.com U.S. websites. Subject to auto-renewal.
- Terms Apply.
- See Rates & Fees
Balance transfer fee
Either $5 or 3% of the amount of each transfer, whichever is greater.
Foreign transaction fee
2.7% of each transaction after conversion to US dollars
There's a clear winner when it comes to earning the most rewards on streaming services and movie rentals — the Blue Cash Preferred® Card from American Express. Cardholders earn an industry-leading 6% cash back* on select U.S. streaming subscriptions, which include everything from TV services to movie rentals and music streaming.
Eligible services include:
- Amazon Music Unlimited
- Apple Music
- Apple TV+
- Audible
- DirecTV Stream (formerly known as AT&T TV or AT&T TV NOW)
- *Disney+
- *ESPN+
- Fubo TV
- HBO Max
- HBO (standalone streaming subscription only, formerly known as HBONow)
- *Hulu
- iHeartRadio
- Kindle Unlimited
- Luminary
- MLB.TV
- NBA League Pass
- Netflix
- NHL.TV
- Pandora
- Paramount+
- Peacock
- Prime Video
- Showtime
- Sling TV
- SiriusXM Streaming and Satellite
- Spotify
- Stitcher
- TIDAL Music
- YouTube Music Premium
- YouTube Premium
- YouTube TV
*Subject to auto-renewal.
Amex's website disclaims that subscriptions bundled with another product or service or billed by a third party may not be eligible for 6% cash back*. (Learn more about how credit card issuers classify purchases for bonus rewards.)
If you decide to rent a movie with an eligible streaming service, such as Amazon Prime Video, this would also qualify to earn 6% cash back*, an Amex customer service representative confirmed.
The Blue Cash Preferred Card has a $0 intro annual fee for the first year, then $95. (see rates and fees). However, you can offset this cost by taking advantage of the categories that earn 6% cash back*. But take note — the 6% cash back* at U.S. supermarkets applies only up to $6,000 per year in eligible purchases (then 1%).
Best for no annual fee
- Rewarding and versatile quarterly bonus categories
- Generous intro-APR offer
- Quarterly limits on the card's top bonus spending categories
- No statement credit offers or other ongoing benefits outside of the cash rewards
If you want to earn generous rewards on streaming services without an annual fee, consider the U.S. Bank Cash+® Visa Signature® Card. Cardholders can choose to earn 5% cash back on two bonus categories each quarter on your first $2,000 in combined eligible net purchases, then 1%.
You can choose to earn up to 5% cash back on TV, internet and streaming services, which is one category.
Eligible services include:
- Charter
- Comcast
- DIRECTV
- DISH Network
- Time Warner Cable
- Disney+
- FandangoNOW
- Hulu
- Netflix
- Sling TV
- Vudu
- YouTube
- Amazon Music
- Apple Music
- Google Play Music
- Pandora
- SiriusXM
- Slacker Radio
- Spotify
U.S. Bank's website warns that purchases made using a third-party service, such as PayPal, Google Play, Amazon and iTunes Store, may not qualify for the up to 5% cash back.
In addition to the streaming-related category, you can select a second category, such as fast food, home utilities, cell phone providers and more. Cardholders also get 2% cash back on one everyday category, such as grocery stores or gas stations, and 1% cash back on all other purchases. Cardholders can update their preferences every quarter, so you can change categories based on your needs.
Best for Amazon Prime enthusiasts
The Prime Visa is only available to Amazon Prime members ($139 for an annual membership and $14.99 for a monthly membership) but is very rewarding for Amazon purchases.
- High rate of return at Amazon and Whole Foods
- Easy-to-earn welcome bonus
- Requires an Amazon Prime membership
- If you choose the promo APR you won't earn rewards on those purchases
Rewards
- Earn unlimited 5% back at Amazon.com, Amazon Fresh, Whole Foods Market and on Chase Travel purchases with an eligible Prime membership
- Unlimited 2% back at gas stations, restaurants, and on local transit and commuting (including rideshare)
- 10% back or more on a rotating selection of items and categories on Amazon.com with an eligible Prime membership
- Unlimited 1% back on all other purchases
Balance transfer fee
Either $5 or 4% of the amount of each transfer, whichever is greater
If you're a loyal Amazon customer, you can benefit from using the Prime Visa (see rates and fees). All Amazon purchases earn 5% cash back, which includes your Amazon Prime membership. Prime members receive a Prime Video subscription at no extra cost. And when you rent movies that aren't available for free through Prime Video, you still earn 5% cash back.
This card is also a great option for Whole Foods Market grocery shoppers, since those purchases also earn a robust 5% cash back. This card also offers a $150 Amazon Gift Card instantly upon approval exclusively for Prime members.
Keep in mind that while there is no annual fee for this card, an active Prime membership is required. Current costs are $139 for an annual membership or $14.99 for a monthly membership. If you don't want to pay for Prime, you can opt for the Amazon Visa, which doesn't require a Prime membership and still offers 3% cash back at Amazon and Whole Foods.
Other ways to enjoy movies at home
Streaming services aside, many movie theaters across the country are closing. To keep Americans from missing out on seeing highly-anticipated new releases, companies like Universal are releasing new movies through video-on-demand services starting this week.
Universal is making a number of recently released movies available to watch at home, starting with "The Invisible Man," "The Hunt" and "Emma," starting this Friday, March 20, with a suggested price of $19.99. And Universal's upcoming "Trolls World Tour" will be available both online and in theaters on April 10.
If you take advantage of these movie rental opportunities, you can benefit from charging roughly $20 per film to a cash-back credit card.
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Our methodology
To determine which credit cards offer the best value, Select analyzed popular credit cards available in the U.S. We compared each card on a range of features, including rewards, welcome bonus, introductory and standard APR, balance transfer fee and foreign transaction fees, as well as factors such as required credit and customer reviews when available. We also considered additional perks, the application process and how easy it is for the consumer to redeem points.
Select teamed up with location intelligence firm Esri. The company's data development team provided the most up-to-date and comprehensive consumer spending data based on the 2019 Consumer Expenditure Surveys from the Bureau of Labor Statistics. You can read more about their methodology here.
Esri's data team created a sample annual budget of approximately $22,126 in retail spending. The budget includes six main categories: groceries ($5,174), gas ($2,218), dining out ($3,675), travel ($2,244), utilities ($4,862) and general purchases ($3,953). General purchases include items such as housekeeping supplies, clothing, personal care products, prescription drugs and vitamins, and other vehicle expenses.
Select used this budget to estimate how much the average consumer would save over the course of a year, two years and five years, assuming they would attempt to maximize their rewards potential by earning all welcome bonuses offered and using the card for all applicable purchases. All rewards total estimations are net the annual fee.
While the five-year estimates we've included are derived from a budget similar to the average American's spending, you may earn a higher or lower return depending on your shopping habits.
* Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
For rates and fees of the Blue Cash Preferred® Card from American Express, click here.
* Information about the U.S. Bank Cash+® Visa Signature® Card has been collected independently by CNBC Select and has not been reviewed or provided by the issuer of the card prior to publication.
We may earn commissions from qualifying purchases made through Amazon links.
