How would you like for Bank of America to pay for your Netflix bill every month? It seems that The Penny Hoarder has found a way to make it happen. If you’re a Bank of America customer, you can sign up for one of its Better Balance Rewards Cards and use it to get enough money back from the bank to pay off your monthly Netflix bill.
Specifically, here’s what you have to do:
- First, make sure your pay off the entire balance on your Better Balance Rewards Card at the end of every month. If you do this for three consecutive months, BofA will give you a $25 reward.
- Next, open a Bank of America Core Checking Account and elect to have all your cash rewards deposited directly into it. If you do this, BofA will give you another $5 per quarter. You’ll want to make sure the account either has a daily balance of at least $1,500 or it has a qualifying direct deposit of at least $250 each month so that the bank will waive its $12 monthly maintenance fee.
- Make sure you choose to have your Netflix bill automatically paid off by your new Bank of America credit card every month.
When you add up these rewards, they’ll be enough to cover your entire Netflix bill every month. Of course, you’ll still be paying Netflix a subscription fee every month but at the end of the quarter you’ll get money back that will essentially offset what you’ve been paying for the video streaming service.
For more details on how to make this scheme work for you, check out The Penny Hoarder’s full guide by clicking here.