Cutting the cord and embracing streaming means getting used to change, as shows jump from library to library and services get bundled together. But one constant you can count on is the ever-upward creep of prices. If your monthly bills have you hunting in the attic for your old DVD player, check out these four tips for how to reduce your expenses without giving up your favorite shows.
Here’s how you can save money on streaming services
1. Condense and consolidate
If you’re subscribed to multiple services, take a few minutes to analyze how much time you’re spending on each platform, and you may find you can cut at least one from your budget. Maybe you decided to subscribe to watch a new series that everyone’s talking about, but you haven’t tuned back in much since the season finale. It’s OK to cancel your subscription while you wait for the show to return with new episodes; and in some cases, the streaming service will let you pause the service for a while.
2. Share subscriptions with friends and family
Many subscription services offer the ability to add multiple users to one account, and in many cases, it’s more cost-effective to go in with someone on a plan vs. signing up for your own.
For example, Netflix’s Premium plan currently costs $22.99 per month, but allows you to add up to two additional users (who don’t live with you) for an extra $7.99 per month per person. By splitting the Premium plan with two other people, the effective cost is $12.99 per person per month. That’s less than the $15.49 Netflix charges each month for its cheapest, ad-free plan.
3. Consider switching cell phone providers
Several cell phone providers offer deals where you can access streaming platforms at a discount depending on the plan you choose.
Verizon, for example, will allow subscribers to certain plans to add a Disney Bundle for an additional $10 a month. This package consists of Disney+ Premium (ad-free), Hulu (with ads) and ESPN+ (with ads). Subscribing to each of these services individually would cost much more than $10, and even getting a bundle directly from Disney will run you at least $16.99 a month (for the Trio Basic plan, which includes Disney+, Hulu and ESPN+ all with ads).
Similarly, T-Mobile includes in its Go5GNext plan Apple TV+, Netflix (Standard plan with ads) and Hulu (with ads). If you’re getting a great deal on your cell phone bill, it may not be worth it to switch just for the streaming services. But if you’re looking to make a change, see what perks the cell phone providers offer so you can potentially consolidate your streaming and cell phone bill in one easy move.
4. Consider a credit card with rewards for streaming service purchases
With the right credit card, you can earn points for free travel or cash back on your monthly streaming bills.
Here are some of our favorite cards for streaming services:
The Blue Cash Preferred card from Amex is an excellent choice if you subscribe to several streaming services. Cardholders can earn 6% cash back on select U.S. streaming subscriptions as well as 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 3% cash back at U.S. gas stations, 3% cash back on transit including taxis/rideshare, parking, tolls, trains, buses and more, and 1% cash back on other purchases. Terms apply.
There is a huge range of subscription services that fall into the 6% cash-back category, including Apple TV+, Prime Video and Spotify. You can see the full list in our article about how to maximize the credit card rewards you can earn when you sign up for a new streaming service.
The card has a $0 introductory annual fee for the first year, then $95. (see rates and fees).
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)
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
- Earn a $250 statement credit after you spend $3,000 in eligible purchases on your new Card within the first 6 months.
- $0 intro annual fee for the first year, then $95.
- Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 intro plan fees on plans created during the first 12 months from the date of account opening. Plans created after that will have a monthly plan fee up to 1.33% of each eligible purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
- Low Intro APR: 0% on purchases and balance transfers for 12 months from the date of account opening. After that, your APR will be a variable APR of 18.49% – 29.49%.
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations.
- 3% Cash Back on transit (including taxis/rideshare, parking, tolls, trains, buses and more).”,
- 1% Cash Back on other purchases.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
- $84 Disney Bundle Credit: With your enrolled Blue Cash Preferred Card, spend $9.99 or more each month on an auto-renewing Disney Bundle subscription, to receive a monthly statement credit of $7. Valid only at Disney Plus.com, Hulu.com or Plus.espn.com in the U.S.
- Apply with confidence. Know if you’re approved for a Card with no impact to your credit score. If you’re approved and you choose to accept this Card, your credit score may be impacted.
- Terms Apply
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
The Capital One Savor Cash Rewards Credit Card is another excellent cash-back card. With this card, you can earn 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), plus 1% on all other eligible purchases.
The card doesn’t have an annual fee.
Capital One Savor Cash Rewards Credit Card
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Rewards
Earn 8% cash back on Capital One Entertainment purchases, earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel; Terms apply, 3% cash back on dining and at grocery stores (excluding superstores like Walmart® and Target®), 3% cash back on popular streaming services and entertainment, and 1% cash back on all other purchases
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Welcome bonus
Earn a one-time $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening
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Annual fee
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Intro APR
0% intro APR on purchases and balance transfers for 15 months
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Regular APR
19.49% – 29.49% variable
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Balance transfer fee
3% for the first 15 months; 4% at a promotional APR that Capital One may offer you at any other time
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Foreign transaction fee
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Credit needed
If you prefer to earn points for travel, the U.S. Bank Altitude Connect card is a great choice.
You can earn 4X on travel, 4X at gas stations and EV charging stations on your first $1,000 each quarter (wholesale clubs and discount stores/supercenters excluded), 2X points per dollar spent at grocery stores, grocery delivery, dining and streaming services (discount stores/supercenters and wholesale clubs excluded) and 1X point per dollar spent on all other eligible purchases.
The card has a $0 annual fee.
U.S. Bank Altitude® Connect Visa Signature® Card
Information about the U.S. Bank Altitude® Connect Visa Signature® Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
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Rewards
5X points on prepaid hotels and car rentals booked directly in the Altitude Rewards Center, 4X points on travel, 4X at gas stations and EV charging stations on your first $1,000 each quarter (excludes discount stores/supercenters and wholesale clubs), 2X on dining, streaming services and at grocery stores (discount stores/supercenters and wholesale clubs excluded), 1X point on all other eligible purchases
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Welcome bonus
Earn 20,000 bonus points when you spend $1,000 in eligible purchases within the first 90 days of account opening. That’s a $200 value redeemable towards travel and more.
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Annual fee
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Intro APR
0% intro on balance transfers for 12 billing cycles
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Regular APR
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Balance transfer fee
Either 3% of the amount of each transfer or $5 minimum, whichever is greater
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Foreign transaction fee
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Credit needed
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For rates and fees for the Blue Cash Preferred card, click here
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.