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The Rising Cost of Dining Out: How to Offset Expenses with Rewards Credit Cards

The Cost of Eating Out is on the Rise

Are you tired of breaking the bank every time you eat out? You’re not alone. The cost of buying food away from home has increased by over 4% in the past 12 months, according to the latest Consumer Price Index. This trend is expected to continue, making it more important than ever to find ways to offset these expenses.

The Solution: Rewards Credit Cards

One effective way to combat rising food costs is by using a rewards credit card that offers cash back or points on restaurant purchases. With the right card, you can earn hundreds of dollars in annual value on your restaurant spending.

Top Picks for Restaurant Rewards Credit Cards

We’ve compiled a list of the best credit cards for restaurants, taking into account factors such as rewards rate, annual fee, welcome bonus, and added benefits. Here are our top picks:

• American Express Gold Card: Offers 4x Membership Rewards points at restaurants, with annual credits that can help lower the cost of the $325 annual fee.
• Capital One Savor Card: Provides 3% cash back on dining, with a generous introductory APR on new purchases and balance transfers.
• DoorDash Rewards Mastercard: Offers 4% cash back on DoorDash and Caviar orders, with a free year of DashPass membership and the opportunity to earn free DashPass membership every year thereafter.
• Chase Freedom Flex: Earns 3% cash back on dining, with 5% back in rotating categories and a generous intro APR for new purchases and balance transfers.
• Citi Custom Cash Card: Automatically rewards 5% cash back in your top eligible spending category, with no need to activate or select rewards every month.
• U.S. Bank Altitude Go Card: Offers 4x points on dining, takeout, and delivery purchases, with a generous intro APR on new purchases and balance transfers.

What to Consider When Choosing a Restaurant Rewards Credit Card

Before applying for a new credit card, consider the following factors:

• Type of rewards: Do you prefer cash back, points, or miles?
• Other rewards categories: Are there other categories where you can earn rewards, such as travel or groceries?
• Annual fee: Is the annual fee worth the improved rewards rate?
• Other benefits: Are there added benefits, such as partner discounts or annual credits, that can increase the card’s value?
• Credit score: Do you have good credit, and are you likely to be approved for the card?

Maximizing Your Rewards

To get the most out of your restaurant rewards credit card, make sure to:

• Use the card for all restaurant purchases: Earn rewards on every dining purchase, from sit-down meals to fast food.
• Take advantage of added benefits: Use partner discounts, annual credits, and other perks to increase the card’s value.
• Pay your balance in full each month: Avoid interest charges by paying your balance in full each month.

By choosing the right restaurant rewards credit card and using it strategically, you can offset the rising cost of dining out and enjoy hundreds of dollars in annual savings.