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Whether you prefer eating in or hitting the drive through on your way home from work, you’ve probably noticed higher restaurant prices lately.
While recent data from the Bureau of Labor Statistics shows that inflation may be cooling, it seems some of the higher prices are sticking around. For example, the cost of food away from home increased 4.1% nationally during the 12 months leading up to June 2024, and that’s after an increase of 7.7% during the one-year period that led up to June 2023.
Fortunately, credit cards like the Chase Sapphire Preferred®, the Capital One SavorOne Cash Rewards Credit Card* and the Chase Freedom Flex® Credit Card* can take the sting out of the climbing costs of dining out.
How a credit card can help offset dining costs
Credit cards that offer bonus rewards on dining purchases help consumers get cash back on their spending, which they can use to offset higher restaurant prices. If a credit card earns 3x points or 3% cash back on restaurant spending, for example, that reward amount translates to a 3% discount on dining purchases if the cardholder redeems their rewards for statement credits.
Some rewards credit cards also let users redeem for gift cards at restaurants, whereas others offer discounts or credits for food delivery purchases through providers like Uber Eats.
My favorite dining card: the Chase Sapphire Preferred®
My personal go-to card for restaurant purchases is the Chase Sapphire Preferred® Card since it earns 3x points on dining purchases including takeout and delivery.
The card also earns 5x points on travel bookings through Chase Travel℠, 3x points on online grocery purchases (excluding Target, Walmart and wholesale clubs), 3x points on select streaming services, 2x points on other travel purchases and 1x points on all other spending.
My family uses this card heavily (along with my husband’s Chase Sapphire Reserve®) to rack up as many Chase Ultimate Rewards points as possible. These points are highly valuable since they transfer to 14 different airline and hotel partners. They can also be used to book travel through the Chase Travel portal, or for gift cards, statement credits, merchandise and other flexible options.
How I get the most savings from the Chase Sapphire Preferred®
I maximize rewards on my Sapphire Preferred® by using it for a range of everyday purchases and bills, especially for dining purchases. This helps me earn more rewards over time, which I typically redeem for travel expenses later on.
I almost always transfer my Chase points to its selection of airline and hotel partners, specifically to British Airways, Southwest Rapid Rewards, United MileagePlus and World of Hyatt. Doing so helps me get more than 2 cents per point for most redemptions, which makes these rewards even more valuable.
It’s also worth noting that the Sapphire Preferred doesn’t charge foreign transaction fees. This is a useful benefit since I frequently travel outside the United States and want to earn bonus rewards on dining and other purchases when I do.
Other great dining cards to consider
There are plenty of other excellent dining credit cards that can help defray the rising costs of restaurant meals.
Capital One SavorOne Cash Rewards Credit Card
CNET’S PICK
Intro Offer
$200
Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening
Rating Breakdown
3.6
We rate credit cards using our Rewards / Travel methodology for cards tailored to earning rewards. We focus on each card’s reward potential, the value you get compared to the card’s cost, the benefits and the card’s rates and fees. Credit card issuers have no say or influence in our ratings. How we rate credit cards
- Intro Balance Transfer APR
- 0% intro on balance transfers for 15 months
- Intro Purchase APR
- 0% intro on purchases for 15 months
- Regular APR
- 19.99% – 29.99% (Variable)
- Balance Transfer Fee
- 3% for the first 15 months; 4% at a promotional APR that Capital One may offer you at any other time
8%
8% Cash Back on Capital One Entertainment purchases
5%
5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply)
3%
3% Cash Back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®)
1%
1% Cash Back on all other purchases
Rating Breakdown
3.6
We rate credit cards using our Rewards / Travel methodology for cards tailored to earning rewards. We focus on each card’s reward potential, the value you get compared to the card’s cost, the benefits and the card’s rates and fees. Credit card issuers have no say or influence in our ratings. How we rate credit cards
- Intro Balance Transfer APR
- 0% intro on balance transfers for 15 months
- Intro Purchase APR
- 0% intro on purchases for 15 months
- Regular APR
- 19.99% – 29.99% (Variable)
- Balance Transfer Fee
- 3% for the first 15 months; 4% at a promotional APR that Capital One may offer you at any other time
8%
8% Cash Back on Capital One Entertainment purchases
5%
5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply)
3%
3% Cash Back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®)
1%
1% Cash Back on all other purchases
The Capital One SavorOne Cash Rewards Credit Card starts new cardholders off with a $200 cash bonus when they spend $500 on purchases within three months of account opening. Once you’ve earned its bonus, stick around for the dining rewards.
You could earn 3% cash back on dining, entertainment, popular streaming services and at grocery stores and 1% back on other purchases. Plus, 5% for hotels and car rentals booked through Capital One Travel.
There’s no annual fee, and members even get 10% back on Uber and Uber Eats purchases along with Uber One membership fees covered through Nov. 14 (enrollment required).
That makes this card a good option for both dining in and ordering out from your favorite restaurant. Lastly, the SavorOne doesn’t charge foreign transaction fees, so it’s a good option for trips all over the world.
Chase Freedom Flex® Credit Card
CNET’S PICK
Intro Offer
$200
Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
Rating Breakdown
4.1
We rate credit cards using our Rewards / Travel methodology for cards tailored to earning rewards. We focus on each card’s reward potential, the value you get compared to the card’s cost, the benefits and the card’s rates and fees. Credit card issuers have no say or influence in our ratings. How we rate credit cards
- Intro Balance Transfer APR
- 0% Intro APR on Balance Transfers for 15 months
- Intro Purchase APR
- 0% Intro APR on Purchases for 15 months
- Regular APR
- 20.49% – 29.24% Variable
- Balance Transfer Fee
- Either $5 or 5% of the amount of each transfer, whichever is greater.
5%
5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
5%
5% cash back on travel purchased through Chase Travel℠.
3%
3% cash back on dining and drugstores.
1%
1% cash back on all other purchases.
Rating Breakdown
4.1
We rate credit cards using our Rewards / Travel methodology for cards tailored to earning rewards. We focus on each card’s reward potential, the value you get compared to the card’s cost, the benefits and the card’s rates and fees. Credit card issuers have no say or influence in our ratings. How we rate credit cards
- Intro Balance Transfer APR
- 0% Intro APR on Balance Transfers for 15 months
- Intro Purchase APR
- 0% Intro APR on Purchases for 15 months
- Regular APR
- 20.49% – 29.24% Variable
- Balance Transfer Fee
- Either $5 or 5% of the amount of each transfer, whichever is greater.
5%
5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
5%
5% cash back on travel purchased through Chase Travel℠.
3%
3% cash back on dining and drugstores.
1%
1% cash back on all other purchases.
The Chase Freedom Flex®* is another no-annual-fee credit card that earns bonus rewards on dining out and in other everyday categories. It has the same welcome bonus as the SavorOne: A $200 cash bonus after spending $500 on purchases within three months of account opening.
It too offers 3% cash back on dining, and 5% cash back for travel booked through its issuer travel portal. But that’s where the similarities end. The Freedom Flex, somewhat uniquely, also provides 5% cash back (on up to $1,500 on combined purchases in quarterly bonus categories when you activate) for purchases that change quarterly, which gives it a good amount of earning power, especially considering its lack of annual fee.
While earning 3% back on dining with this card is always a sweet deal, Chase Freedom bonus categories typically include restaurants at least once yearly. For example, the Freedom Flex category for Q2 of 2024 (April through June) included Amazon.com, hotels and restaurants. This means that you could potentially earn up to 7% back on $1,500 in restaurant spending for three months per year.
Other ways to save money and still eat out
If you plan on using a rewards credit card to offset the surging costs of dining out, you’ll want to pay your credit card balance in full each month to avoid paying credit card interest. Other ways to save money on dining out with or without a credit card include the following:
- Set a monthly dining budget. Using a written monthly budget (or one of the best budgeting apps) can help you track your expenses and prioritize the things you want the most. If you’re able to cut elsewhere in your budget, you may free up some additional money for dining out.
- Redeem credit card rewards for restaurant gift cards. Most cash back credit cards let users redeem rewards for restaurant gift cards, including the cards above. This redemption can help you score some restaurant meals essentially for free, which is always a good deal.
- Go out for lunch instead of dinner. Lunch prices are typically lower than prices for dinner, even though you’ll very often get the exact same meal. You can save big by heading out for lunch (or even breakfast) instead of dinner a few times per month.
- Hit up “happy hour.” Finally, look for early bird or “happy hour” deals on dining and drinks. Happy hour menus tend to center around alcoholic beverages, but they often also include appetizers and small bites for lower prices.
CNET’S PICK
-
Intro Offer -
60,000 bonus points
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Travel℠.
- Annual fee
- $95
- APR
- 21.49% – 28.49% Variable
- Intro Purchase APR
- N/A
- Recommended Credit
A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
- Good – Excellent
- Rewards rate
-
1x
– 5x
5x on travel purchased through Chase Travel℠.; 3x on dining, select streaming services and online groceries.; 2x on all other travel purchases.; 1x on all other purchases.
-
Intro Offer -
$200
Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening
- Annual fee
- $0
- APR
- 19.99% – 29.99% (Variable)
- Intro Purchase APR
- 0% intro on purchases for 15 months
- Recommended Credit
A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
- Good – Excellent
- Rewards rate
-
1%
– 8%
8% Cash Back on Capital One Entertainment purchases; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply); 3% Cash Back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®); 1% Cash Back on all other purchases
-
Intro Offer -
$200
Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
- Annual fee
- $0
- APR
- 20.49% – 29.24% Variable
- Intro Purchase APR
- 0% Intro APR on Purchases for 15 months
- Recommended Credit
A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
- Good – Excellent
- Rewards rate
-
1%
– 5%
5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!; 5% cash back on travel purchased through Chase Travel℠.; 3% cash back on dining and drugstores.; 1% cash back on all other purchases.
The bottom line
Restaurant prices won’t likely be going down anytime soon, yet we do have some power over what we pay for meals. We can dine out less often, search for meal deals and go out to eat during the day instead of the evening.
Having the right cash back or rewards credit card can also go a long way toward saving on dining out, whether you use your card to maximize rewards at restaurants or redeem points at restaurants after the fact. But the strategy only makes sense if you plan to pay your credit card off in full each month.
*All information about the Capital One SavorOne Cash Rewards Credit Card and the Chase Freedom Flex has been collected independently by CNET and has not been reviewed by the issuer.
The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.
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