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Best credit cards for streaming services and entertainment

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

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4.5 Ratehub rated

Best for Groceries & dining

First year reward
$660/yr

based on spending $2,200/mo after $156 annual fee

Earn rewards

1pt – 5pts / dollar earn rate

Welcome bonus

15,000 bonus points (a $150 value)

Annual fee

$156

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

featured

4.0 Ratehub rated

Best for Groceries & dining

First year reward
$1,306/yr

based on spending $2,200/mo after $120 annual fee

Earn rewards

1pt – 6pts / dollar earn rate

Welcome bonus

45,000 bonus points (a $450 value)

Annual fee

$120 $0 first year waived

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

featured

Best for Groceries & bills

First year reward
$642/yr

based on spending $2,200/mo after $120 annual fee

Earn rewards

1% – 4% earn rate

Annual fee

$120 $0 first year waived

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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