I pay less than $4 a month for 4 streaming services — thanks to this 1 card in my wallet
Bills, bills, bills.
Long gone are the days of paying one cable bill, at least, for me. Like most people, I find myself at the mercy of having signed up for multiple streaming services, such as Disney+, Hulu and Peacock — and these subscription-based services are not cheap.
So, do I give up one streaming platform and cut down on my bill or painstakingly agree to pay for the added services?
Luckily, I’ve had to do neither, thanks to The Platinum Card® from American Express. Keep reading to find out how I pay less than $4 per month for my streaming service bill.
How I save money on my TV bill using the Amex Platinum
I’m constantly trying to find new ways to save money and cut down on everyday expenses, and, thankfully, my cable bill has decreased significantly. At TPG, we talk a lot about the travel-related benefits of cards and how to book your dream vacation, but did you know you could save money on your everyday expenses with certain credit cards?
Specifically, the Amex Platinum offers up to $240 (up to $20 per month) in statement credits annually for select digital entertainment services (enrollment is required).
Now, I’ve had the Amex Platinum card for more than two years and just recently took full advantage of this card benefit. With this card, I can use my monthly statement credit for the following subscriptions: Disney+, Hulu and ESPN+ (or bundle all three services), Peacock, Sirius XM (ends May 7), The New York Times or The Wall Street Journal.
Once you enroll in this card benefit, you simply need to pay for your select digital entertainment services with your Amex Platinum.
Disney+ offers a bundled package called the Trio Basic, which allows you to get all three services — Hulu, Disney+ and ESPN+ — for $14.99 (before taxes and fees) per month. To note, this bundled package does have ads; if you opt for the Trio Premium package with no ads (available only on Disney+ and Hulu), it will cost you $24.99 per month (before taxes and fees).
You can also buy a Duo Basic subscription that includes Disney+ and Hulu with ads for $9.99 per month (before taxes and fees). If you upgrade to the Duo Premium subscription that includes Hulu and Disney+ with no ads, it will cost you $19.99 per month (before taxes and fees).
After signing up and paying for the service with my card, I looked at my Amex statement a few days later and saw a credit for $16.98 (including taxes and fees). On average, it takes about two days to receive your Amex statement credit.
Since I get up to $20 in statement credits on my Amex, I decided to switch the payment option on my Peacock subscription service to my Platinum card. Peacock costs $5.99 per month (before taxes and fees) for its Premium package with ads. Peacock also has a Premium Plus package with no ads that costs $11.99 per month (before taxes and fees).
When I looked at my card statement, the streaming platform cost $6.78, and I received a $3.02 credit. Therefore, I am only paying $3.76 per month for four streaming platforms, and after 12 months, I’ll have only paid $45.12 total.
Bottom line
Having the right credit card for streaming services has helped me save money on my monthly TV bill. While the Amex Platinum does have a $695 annual fee (see rates and fees), the card offers many benefits that cover the cost and, for me, justify paying a high fee.
With the Amex Platinum, I am able to save up to $240 on my streaming service bill each year. Now, I don’t have to choose between catching up on the newest season of “The Real Housewives” series on Peacock or “The Bear” on Hulu.
Related: Amex Platinum card review: High annual fee with loads of perks
For rates and fees of the Amex Platinum, click here.
