Best credit cards for streaming services and entertainment
Jordan Lavin
According to research from Angus Reid, 85% of Canadians have at least one streaming service subscription and 40% of us have three or more. Some 19-million of us watch Netflix at least once a month, and 11-million use Spotify to hear our favourite songs.
All those streaming services take a big chunk out of our collective wallets. Together we spend $5.3 billion per year on streaming video – an average of $416 per household.
You can save money on streaming and entertainment with the right rewards credit card, and earn more points from your TV bingeing habit.
What streaming services are available in Canada?
There are dozens of streaming services available in Canada, offering movies, TV shows, music, sports, audiobooks, and more. Each of these platforms serves a different niche and charges a monthly fee ranging up to around $30 per month.
While this list is by no means exhaustive, these are some of the top streaming services in Canada and their pricing as of August 2023.
Movies and TV streaming services
Sports streaming services
Music and audio streaming services
Best credit cards for subscription purchases
Like your cable bill in the olden days, all those streaming subscriptions can add up fast. My busy family of four cut cable long ago, but have replaced it with subscriptions to Netflix, Disney+, Amazon Prime Video, Crave TV, Sportsnet Now, Spotify and SiriusXM at a headache-inducing cost of $72 per month plus tax.
Fortunately, credit card companies love to compete for customers and streaming has started to factor into their offers. To help reduce the cost of all these subscriptions, and earn more points on your spending, try these credit card tips.
Earn points on streaming services with the right credit card
Several of the best credit cards in Canada now pay extra rewards on your streaming purchases, which can add up over time. A few cards to consider include:
American Express Cobalt Card
Best for Groceries & dining
based on spending $2,200/mo after $156 annual fee
- Earn rewards
1pt – 5pts / dollar spent
- Welcome bonus
15,000 bonus points (a $150 value)
- Annual fee
$156
Perks of the American Express Cobalt® Card
Perks | Details | |
---|---|---|
Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
Travel accident insurance | $250,000 | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
Travel emergency medical | $5,000,000 for first 15 days (under 65) | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
Car rental insurance | MSRP of up to $85,000, for 48 days | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
Trip cancellation | Not included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
Trip interruption | Not included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
Flight delay insurance | $500; delays 4 hours or more | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
Baggage loss insurance | $500 per trip for all persons | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
Baggage delay insurance | $500; delays 6 hours or more | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
Hotel/motel burglary | Included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
Mobile insurance | Up to $1,000 for 90 days | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
Purchase assurance | Up to $1,000 for 90 days | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
Extended warranty | Up to one additional year | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- In your first year as a new Cobalt Cardmember, you can earn 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 in net purchases on your Card. This could add up to 15,000 points in a year. That’s up to $150 towards a weekend getaway or concert tickets
- Earn 5x the points on eligible eats and drinks in Canada, including groceries and food delivery. Spend cap applies.
- Earn 3X the points on eligible streaming subscriptions in Canada
- Earn 2X the points on eligible ride shares, transit & gas in Canada
- Earn 1 additional point on eligible hotel and car rental bookings via American Express Travel Online
- Earn 1X point for every $1 in Card purchases everywhere else
- Enjoy access to hotel bookings, a room upgrade (when available), 12pm check-in and late check-out (when available), and up to $100 USD hotel credit to use on amenities when charged to the room for a stay of 2 or more consecutive nights through The Hotel Collection from American Express Travel
- Transfer points 1:1 to several frequent flyer and other loyalty programs
- Cobalt Cardmembers receive regular Perks such as bonus reward offers and access to great events
- Access Front Of The Line® Amex Presale & Reserved Tickets to some of your favourite concerts and theatre performances and special offers and events curated for Cardmembers with Amex ExperiencesTM
- American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
Ratehub’s take
The American Express Cobalt is one of Canada’s best travel credit cards. If you’re looking for a versatile credit card that rewards both everyday spending and travel, the American Express Cobalt is an ideal choice. Cardholders can enjoy strong travel insurance, a generous welcome offer, and flexible point redemption options.
Pros
- Exceptional point earning: 5x the points on eligible restaurant and food delivery, 3x the points on eligible streaming services, 2x the points on travel and daily transit. The earning potential for restaurants and takeout is significantly higher than most other cards
- Flexible point redemption: Travelers can choose from three ways to use their points: points 1:1 to several valuable loyalty programs including Aeroplan, use the Fixed Points Program to simplify redemptions regardless of travel dates, or use points for statement credits at a rate of 1 point = 1 cent. Or, redeem Membership Rewards for travel, gift cards, merchandise, or purchases
- Exclusive access: Enjoy privileges such as Front of the Line Presale and Reserved tickets to concerts, theatre performances, movie screenings, culinary events, and other special offers
- Comprehensive travel insurance: Benefit from a strong travel insurance package, including up to $5,000,000 in travel emergency medical
- No additional fee for authorized users: Add authorized users for no extra cost (an average fee of $30-50 on other comparable cards)
Cons
- Monthly fee: A monthly fee of $12.99 (totalling an annual fee of $156, which is higher than most other rewards cards)
- Limited acceptance: American Express isn’t as widely accepted in Canada compared to Visa and Mastercard
- Travel insurance age limitations: The travel insurance package does not cover trip cancellation or medical coverage for cardholders over the age of 65
- Lack of airport lounge access: Frequent travellers may be disappointed as this card does not offer access to airport lounges
Eligibility requirements
Minimum credit score: 725
Minimum income: N/A
Interest rates
Purchase interest: 21.99%
Cash advance: 21.99%
Balance transfer: N/A
The American Express Cobalt Card is a great travel rewards card that pays 3 points per dollar spent on eligible streaming subscriptions. It also comes with great travel insurance coverage, mobile device insurance, and you can even use your points to shop on Amazon.
Scotiabank Gold American Express Card
Best for Groceries & dining
based on spending $2,200/mo after $120 annual fee
- Earn rewards
1pt – 6pts / dollar spent
- Welcome bonus
45,000 bonus points (a $450 value)
- Annual fee
$120 $0 first year waived
Perks of the Scotiabank®* Gold American Express® Card
Perks | Details | |
---|---|---|
Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
Waived foreign transaction fees | Included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
Travel accident insurance | $500,000 per person | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
Travel emergency medical | $1,000,000 for 25 days (under 65) | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
Car rental insurance | MSRP of up to $65,000, for 48 days | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
Trip cancellation | Up to $1,500 per person | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
Trip interruption | Up to $1,500 per person | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
Flight delay insurance | Up to $500 coverage per person | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
Baggage loss insurance | Up to $1,000; delays over 4 hours | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
Baggage delay insurance | Up to $1,000; delays over 4 hours | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
Hotel/motel burglary | Included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
Mobile insurance | Up to $1,000 per occurence | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
Purchase assurance | Covered for 90 days | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
Extended warranty | Up to one additional year | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- Earn up to $950* in value in the first 12 months, including up to 45,000 bonus Scene+ points¹. To qualify for these offers make sure to open a new Scotiabank Gold American Express credit card account(“Account”) by October 31, 2024.
- Earn 6x Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more.
- Earn 5x Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
- Earn 5x Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.
- Earn 3x Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more.
- Earn 3x Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services.
- Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases.
- No Foreign Transaction Fee
- Comprehensive Travel Insurance coverage
- AMEX Offers®
- AMEX Front of the Line®
- American Express Invites®
- Complimentary Concierge Services
- Rates, fees and other information are effective as of July 02,2024. Subject to change.
Ratehub’s take
The Scotiabank Gold American Express Card earns an honourable mention as one of the best overall travel credit cards for the outstanding benefits it offers to cardholders. This card stands out as a top choice, thanks to its exceptional return on spending and a variety of travel-related perks. This card is particularly useful for those who dine out often, travel, and enjoy entertainment.
Pros
- No foreign exchange fee: Save on foreign currency purchases while travelling abroad or shopping online, as this card doesn’t charge the typical 2.5% foreign transaction fee
- Extensive insurance coverage: Enjoy comprehensive travel insurance, including the $1 million travel medical insurance, which lasts for 25 days and is one of the longer coverage periods available on the market
- High return on spending: Earn five points per $1 spent on groceries, restaurants, food delivery, and entertainment – one of the best in class multipliers in the market. Earn three points per $1 spent on gas and transit expenses
Cons
- Limited acceptance: American Express isn’t as widely accepted in Canada compared to Visa and Mastercard
- Annual Fee: This card carries an annual fee of $120
- Fixed point values: Although earn rates are high, travel points are always worth one cent per point and you can’t transfer your points to other airline rewards programs like you can with other cards
- Airport lounge access is not free: Although you’ll get a discount on a Priority Pass membership for airport lounge access, lounge visits aren’t included with the card
Eligibility requirements
Minimum credit score: 725
Minimum income: $12,000/yr
Interest rates
Purchase interest: 20.99%
Cash advance: 22.99%
Balance transfer: 22.99%
The Scotiabank Gold American Express Card rewards you with up to 6 points per dollar spent, including 3 points per dollar spent on streaming services. This card is also great for travel with its flexible Scene+ Rewards program, excellent travel insurance coverage, airport lounge discounts, and no foreign transaction fee.
Scotiabank Momentum Visa Infinite Card
Best for Groceries & bills
based on spending $2,200/mo after $120 annual fee
- Earn rewards
1% – 4% / dollar spent
- Annual fee
$120 $0 first year waived
Perks of the Scotia Momentum® Visa Infinite* Card
Perks | Details | |
---|---|---|
Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
Travel accident insurance | Up to $1,000,000 per occurrence | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
Travel emergency medical | Up to $1,000,000 for 15 days (under 65) | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
Car rental insurance | MSRP for 48 days | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
Trip cancellation | Up to $10,000 per trip | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
Trip interruption | Up to $10,000 per trip | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
Flight delay insurance | $500 per person per occurance | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
Baggage loss insurance | $500 per occurrence | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
Baggage delay insurance | $500 per occurrence | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
Mobile insurance | Up to $1,000 | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
Purchase assurance | Up to 90 days | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
Extended warranty | One additional year | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). No annual fee in the first year, including on supplementary cards. Offer ends October 31, 2024.
- Earn 4% for every $1 you spend on grocery store purchases, recurring bill payments, and subscription purchases.
- Earn 2% for every $1 you spend on gas purchases and daily transit purchases.
- Earn 1% cash back on all other purchases with no cash back limit.
Ratehub’s take
The Scotiabank Momentum Visa Infinite Card offers impressive rewards on everyday purchases. This card earns great cash back on many categories – however, its stand-out feature is 4% cash back on groceries. This card can help offset rising household expenses and is considered to be one of the best cash back credit cards.
Pros:
- High cash back rate on essentials: Enjoy significantly higher earn rates on groceries and gas than most other cards (4% cash back)
- Comprehensive insurance coverage: Benefit from strong insurance coverage typically is reserved for travel credit cards
- Lucrative welcome offer
Cons:
- Spending cap on bonus categories: Annual total spend limit of $25,000 on the 4% and 2% spending categories; thereafter, the earn rate drops to 1%
- Limited redemption flexibility: Cash back reward is only offered as a statement credit once per year in November and cannot be redeemed in smaller amounts or any other time of year
Eligibility requirements
Minimum credit score: 725
Minimum income: $60,000/yr
Interest rates
Purchase interest: 20.99%
Cash advance: 22.99%
Balance transfer: 22.99%
If you prefer cash back to points, the Scotiabank Momentum Visa Infinite Card gives you 4% cash back on all of your recurring bill payments including subscription services. It also has comprehensive travel insurance coverage and mobile device insurance, plus other benefits from Visa Infinite.
Get streaming subscription as a credit card perk
Credit cards are always trying to outdo each other with additional benefits and perks, and sometimes that includes discounts on streaming subscriptions.
For example, you can get a year of Disney+ for free with your American Express card. All you have to do is register for Amex Offers, sign up for Disney+ using your card, and you’ll get a bill credit covering the full amount of your subscription. If you don’t already have an American Express card, the no-fee SimplyCash Card is a great place to start.
You can also get a discount on Crave TV with a Visa Infinite and Visa Infinite Privilege card, such as the Scotiabank Momentum Visa Infinite card mentioned above. To take advantage of this deal, check out Visa Offers and Perks. And if you need a Visa card, the Simplii Financial Cash Back Visa Card has no annual fee and pays 1.5% cash back on pre-authorized payments – and yes, that includes your streaming subscriptions.
Get more out of your Amazon Prime membership with the Amazon.ca Rewards Mastercard
Amazon Prime already offers great value with free shipping on purchases, Prime Video and Prime Music included, and exclusive offers. Pairing your membership with the no annual fee Amazon.ca Rewards Mastercard sweetens the pot even more.
This card gives you Amazon.ca rewards points you can redeem for merchandise on Amazon. Prime members get 2.5% back in points on Amazon and Whole Foods purchases, 2.5% in points on foreign currency transactions, and 1% in points everywhere else Mastercard is accepted.
The bottom line
You don’t want to miss the new season of Too Hot to Handle on Netflix, and you don’t want to miss out on valuable rewards, either. Choose the right credit card to get discounts and points on the streaming services you love most.
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