Your Weekly Advisor Update

A Note From Kelly Anne:

The country’s most preferred streaming service is cracking down on password sharing—and your account membership might get more expensive because of it.

This week, we dive into Netflix’s new membership increase for those who share their account with people who don’t live in their household. So you’ll have to say goodbye to your friend’s boyfriend’s cousin’s account that you somehow got the password to three years ago, pony up for your own account…or ditch the streaming service altogether.

I hope you had a great Memorial Day weekend—and are welcoming the summer with ease.

Best,

Kelly Anne

Kelly Anne Smith  Deputy Editor, Growth Projects

Forbes Advisor

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

Netflix Cracks Down On Password Sharing

Sharing login passwords for pricey streaming accounts has been a tried-and-true method of saving money for millions of Americans. And the world’s biggest streaming service has noticed.

In March 2022, Netflix announced you would no longer be able to share your account with members outside of your household—and this month, the company is finally making good on its promise for U.S. subscribers.

Now, members can transfer a profile to someone they don’t live with and have them pay on their own—or add that person to their account for $7.99 per month. (If you try to log on to a Netflix account and you’re not within the primary user’s home network, Netflix will send an email to the primary account holder with a 4-digit verification code that the user must enter within 15 minutes to gain access.) 

While this move will help Netflix’s bottom line, it’s shaping up to be a big deterrent for Netflix users. 

A recent Forbes Home survey found that 35% of respondents would cancel their Netflix subscription if the password sharing rules were enforced. When extrapolated for Netflix’s full user base, that could result in approximately 80 million lost subscribers.

There are ways to cut down on streaming service membership fees, including with Netflix. There are a handful of credit cards that offer cashback rewards when you subscribe to a streaming plan with the card. Just don’t forget to pay it off in full each month so you don’t lose out on your savings due to interest charges.

Here’s what else you should know
this week:

Why Is The U.S. Dollar So Strong Right Now? 

The dollar continues to perform despite talks of a recession—here’s how investors can make the most of it.

Wheels Of Steal: Some Kias, Hyundais Easy To Hotwire; Owners Sue Carmakers, Get $200 Million   

Owners of a Kia or Hyundai may be eligible to claim part of a $200 million class-action settlement from the automakers. Here’s what you need to know.

Backstopping Failed Banks Costs Billions; Should Bank Execs Be Penalized? 

Should the chief executives of Signature Bank and Silicon Valley Bank be penalized for their bank’s recent failures? Here’s what the experts say. 

For many of us, travel is a part of our everyday lives and not just that big annual vacation: It’s taking the train to work. It’s catching a rideshare to meet friends. The American Express® Green Card recognizes and rewards travel of all kinds. 

Cardmembers earn 3 Membership Rewards® points per dollar spent on transit and travel. You can also earn 3 points per dollar spent on restaurants, turning even more daily experiences into rewards. (Terms apply.)

Also, you can earn a generous welcome bonus of 60,000 Membership Rewards® points after you spend $3,000 on purchases on the card in your first six months of card membership, plus 20% back on eligible travel and transit purchases made on your card in your first six months of card membership  (up to $200 in statement credits — terms apply). 

See how Green from Amex can help reward you for experiences, both extraordinary and everyday.

Contact US:

Forbes Marketplace
251 Little Falls Drive
Wilmington, DE 19808