Use US Bank Cash Plus Credit Card or Altitude Go to Pay for Streaming Services?

Good afternoon everyone.  Earlier today, I wrote Goodbye Old US Bank Radisson Rewards Credit Cards, Hello New Altitude Go & Business Triple Cash Rewards.  After writing that post, I decided to dig into the $15 streaming credit on the US Bank Altitude Go Credit Card and compare it to the US Bank Cash Plus Credit Card, which offers 5% cash back on streaming services (among other 5% cash back category options).  As you can see, the US Bank Cash Plus offers “5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose.”  Let’s check out those bonus categories.

After signing into the US Bank Cash Plus portal, you can select 2 of the 5% cash back categories and 1 of the 2% cash back categories.  The “TV, Internet & Streaming Services” bonus category was one of my go to bonus categories.


In comparison, the $15 streaming credit on the US Bank Altitude Go is buried behind other credit card benefits, but I think it is one of the best benefits on this credit card,

Here is how the $15 streaming credit works.  Pay for 11 months of streaming service on your credit card and then you will receive the $15 streaming credit.  There are many streaming services available, but those purchases only earn 2% cash back.

I ran the math on my commercial free Discovery+ streaming service which costs $6.99 / month.  If I paid for the full 12 months using my US Bank Cash Plus, I would earn 5% cash back, but that would only add up to $4.19 in cash back at the end of the year.  In comparison, if I paid for the full 12 months using my US Bank Altitude Go, I would only earn 2% cash back, but I would earn the $15 streaming credit, so I would end up with $16.68 in cash back at the end of the year.

The breakeven point is $41.67, so if you spend less than $41.67 / month, use the US Bank Altitude Go and earn the $15 streaming credit.  However, if you spend more than $41.67 / month, you will be better off earning 5% cash back with the US Bank Cash Plus.

If you have both credit cards and multiple streaming services, I would pay for the cheapest streaming service with the US Bank Altitude Go and put the rest of the streaming services on the US Bank Cash Plus.

If you have any questions about the US Bank Cash Plus Credit Card or US Bank Altitude Go Credit Card, please leave a comment below.  Have a great day everyone!

4 thoughts on “Use US Bank Cash Plus Credit Card or Altitude Go to Pay for Streaming Services?

  1. just_observing

    Very interesting — fun to think through the math.

    One additional factor, though, is that you have to forgo any annual plan discounts, and for some of the streaming services that’ll definitely shift the decision. (Off the top of my head Disney+, ESPN+, Hulu, HBO Max, Paramount+, Peacock, SiriusXM, and Spotify, are some of the ones that offer a discount when going annual).

    It’s also interesting that it’s a flat $15 credit, which makes it much more rewarding percentage for some of the cheaper services. Apple TV+ and Peacock are both only ~$5, for example, so the discount covers 3 months.

    Reply
    1. Grant Post author

      Yes, you would forgo the annual discount and any Chase Offer or AMEX Offers with this approach, but if there is a cheap subscription that doesn’t offer an annual discount or spend offers, this could be a good deal.

      Reply
  2. Dan

    I know it does not really matter and to each their own….but I really dislike US Bank’s new card designs. I really hate vertical cards and US Bank seems to have switched nearly all of them-including the standard debit card-into vertical….

    Reply

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