The rubber band trick is a fool’s errand in my experience. Never works.

Only thing that’s ever worked for me in this situation is using a very small dremel to score a deep enough cut that you can use a flathead to unscrew it.

Screw extractor kits are dirt cheap $10-$15, and great to keep in your tool box.

I've used mine 10x after I was upset that I bought one for "one screw"

Just drill it, flip the bit, and unscrew it.