In today’s fast paced society, many of us simply don’t have the time to slave away in the kitchen and cook up a meal. So instead, we find ourselves eating out a lot. If that’s you, or you simply just want to save money when you do eat out, then credit card restaurant rewards are right up your alley!
Is there such thing as restaurant credit cards in 2013?
Many years back, there were two restaurant cards… Discover Restaurant & Chase Profit. They gave 5% and 3% cash back at restaurants, respectively. Unfortunately those cards were discontinued and the cardholders were switched over to alternative credit cards.Today, there aren’t any specific restaurant cards, but there are a handful on the market that give up to 5% rewards at restaurants. These cards fall into two categories:
Rotating Rewards Programs – These are cards that give 5% cash back in categories that usually rotate every quarter.
For example, one or two quarters of the year they may give 5% on restaurants, fast food, and grocery stores, and the next quarter they may give 5% on apparel and department stores. The two credit cards that work this way are Discover It and Chase Freedom. While they have great excellent programs, unfortunately restaurants are only featured for a few months out of the year.
Consistent Rewards Programs – Most credit cards have reward programs that remain constant throughout the entire year. Some of them give higher rebates for spending on restaurants and fast food (I’ll go thru the best ones in a moment).
Which type is best for restaurants?
In my opinion, the best restaurant credit card will be one that gives you higher rewards all year long. You may not be getting the 5% but the trade-off is you get to earn a higher rebate at restaurants for 12 months out of the year instead of just 3 or 6 months.
Which restaurant cards do I recommend?
In addition to the two mentioned above, another one I would recommend is the Sapphire Preferred. It gives 2x points on dining, but something to keep in mind is that they let you convert points to several frequent flyer programs on a 1:1 conversion. That means it’s like earning 2 miles per dollar on dining, and as we all know, true frequent flyer miles are usually worth more than 1 cent each. Go here for more info about it.