You’ve probably heard by now that your precious Netflix account might cost more starting next month.
That’s because many subscribers were grandfathered into their sign-up rates — rates lower than those Netflix advertises now — and that grandfather clause is about to come to an end.
As of May 2016, Netflix Standard plans will cost $9.99, instead of the $7.99 or $8.99 you might be used to paying.
And even though a dollar or two more a month might not seem like much, we Penny Hoarders know that every cent counts.
Luckily, we have a way to get around the price hike. In fact, if you follow our advice, your binge seshes will be 100% free of charge.
How to Get Netflix for Free
Douglas Clinton figured out a way to get Netflix for free using a cash-back rewards card available through Bank of America.
Since I had a Bank of America account already, I decided to give this method a try months ago. It works!
Plus, the card he uses is a great one, anyway: It rewards you for getting in the habit of paying down your balance every month.
Be sure to check out the original article for full details, but here’s the basic outline of Clinton’s strategy:
1. Open an account with Bank of America and sign up for the BankAmericard Better Balance Rewards Card
2. Make sure to set up direct deposit or keep a balance of at least $1,500 in your account to avoid the $12 monthly maintenance fee
3. Update your Netflix payment information to charge your Better Balance Rewards Card
4. Pay the card off in full each month to reap a $25 reward at the end of each quarter
5. Set up the reward to deposit directly into your Bank of America checking account to get an extra $5 reward
That’s $30 in free cash back every three months — all for developing the good behavior of paying your credit card balance all the way down.
And even though Clinton’s math is based off a monthly Netflix price of $8.67, that $30 still covers your entire Netflix bill: $9.99 x 3 = $29.97.
You just won’t have the extra $4 in your pocket that he was able to enjoy.
So when it comes to the Netflix price hike? Chill out. You’re still getting it for free.
Your Turn: Do you get free Netflix?
Jamie Cattanach (@jamiecattanach) is a staff writer at The Penny Hoarder. She’s three-quarters of the way through her second time watching Mad Men, and she’s watched all the seasons of “Orange is the New Black” a number of times she refuses to admit.