I frequently eat outside and therefore have decided to get a credit card that offers cashback/rewards for dining out. What card would you recommend for such a purpose?
Although their annual fees are quite steep, and they require excellent credit, many of American Express’s card options are great for getting rewards on dining. In particular, the American Express Gold card and the American Express Green card offer 4x points on restaurants and 3x points on restaurants, respectively (this amounts to 4% cash back and 3% cash back). These points can accumulate swiftly, especially for someone like yourself that spends at restaurants consistently, and they both have very reasonable APR rates for the responsible spender. American Express also has a partnership card with Wells Fargo called the Wells Fargo Propel card, with 3x points on eating out and can double as a balance transfer card. Also, this card does not have a steep annual fee, which can make it more affordable to the average consumer.
Outside of American Express, the Bank of America Premium Rewards card and the Citi Premier card both offer 2% cash back on these purchases, but they do both have annual fees, and require similarly excellent credit. If you are someone with black marks on your credit history, but you are able to control your excess spending for the time being, then the Wells Fargo Cash Wise Visa card and the Discover It Secured card are both ways to build up your credit and earn rewards. That is, if you are willling to deal with their higher interest rates.
These two cards are a great option for getting rewards on dining. Firstly, Chase Sapphire Reserve as it is geared toward foodies who are looking for rewards. Cardholders earn competitive 3x points on dining and travel worldwide. On average, an American using this card could earn an estimated $165 per year in rewards for dining purchases alone (assuming you redeem rewards for travel via Chase Ultimate Rewards, receiving 50% more value). Secondly, American Express Gold Card is an ideal credit card for food lovers, offering a high 4x Membership Rewards points per dollar spent at restaurants worldwide and the U.S. supermarkets (on up to $25,000 per year in purchases, then 1X). On average, an American using this card could earn an estimated $147 per year in rewards for dining purchases alone.