This is why I always prefer Chase Sapphire when dining out

Whether you prefer to eat in or take a ride on the 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 down, it appears that some of the higher prices will stick around. For example, the cost of food away from home rose 4.1% nationally over the twelve months leading up to June 2024, and that’s after a increase of 7.7% during the one-year period ending in 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 ease the climbing costs of dining out.

How a credit card can help offset dining costs

Credit cards that offer bonus rewards on restaurant purchases help consumers get cash back on their spending, which they can use to offset higher restaurant prices. For example, if a credit card offers 3x points or 3% cash back on restaurant spend, that reward amount translates into a 3% discount on restaurant purchases when the cardholder redeems their rewards for statement credits.

Some rewards credit cards also allow users to redeem gift cards at restaurants, while 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 because it earns 3x points on restaurant 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 spend.

My family uses this card extensively (along with my husband’s). Chase Sapphire Reserve®) to earn as many Chase Ultimate Rewards points as possible. These points are very valuable because they are transferred 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 to get the most savings with the Chase Sapphire Preferred®

I maximize the rewards on my Sapphire Preferred® by using it for a variety of everyday purchases and bills, especially restaurant purchases. This allows me to earn more rewards over time, which I usually later redeem for travel expenses.

I almost always transfer my Chase points to select airline and hotel partners, especially British Airways, Southwest Rapid Rewards, United MileagePlus, and World of Hyatt. When I do this, I get more than 2 cents per point on most redemptions, making these rewards even more valuable.

It’s also worth noting that Sapphire Preferred doesn’t charge any foreign transaction fees. This is a useful benefit because I often travel outside the United States and when I do, I want to earn bonus rewards for dining and other purchases.

Other great dinner menus to consider

There are plenty of other excellent dining credit cards that can help cover the rising costs of restaurant meals.

Capital One SavorOne Cash Rewards Credit Card

The Capital One SavorOne Cash Rewards Credit Card starts new cardholders with a $200 cash bonus when they spend $500 on purchases within three months of account opening. Once you earn the bonus, you can continue waiting for the dining rewards.

You can earn 3% cash back on restaurants, entertainment, popular streaming services and at grocery stores, and 1% on other purchases. Plus 5% on hotels and car rentals booked through Capital One Travel.

There are no annual fees and members even get 10% back on Uber and Uber Eats purchases, along with Uber One membership fees covered until November 14 (registration required).

That makes this card a good option for both dining and ordering from your favorite restaurant. Finally, the SavorOne doesn’t charge foreign transaction fees, so it’s a good option for traveling around the world.

Chase Freedom Flex® Credit Card

The Chase Freedom Flex®* is another credit card without annual fees earning bonus rewards when you eat out and in other daily categories. It has the same welcome bonus as the SavorOne: a $200 cash bonus after spending $500 on purchases within three months of opening an account.

It also offers 3% cashback on dining and 5% cashback on travel booked through the publisher’s travel portal. But that’s where the similarities end. The Freedom Flex, somewhat uniquely, also offers 5% cash back (on up to $1,500 on combined purchases in quarterly bonus categories when you activate it) on purchases that change quarterly, which gives it a good amount of earning power, especially considering the lack of annual fee .

Although it is always nice to earn 3% back when dining with this card, Chase Freedom Bonus Categories typically include restaurants at least once a year. For example, the Freedom Flex category for the second quarter of 2024 (April through June) included Amazon.com, hotels and restaurants. This means you could potentially earn up to 7% back on $1,500 in restaurant expenses for three months each year.

Other ways to save money and still eat out

If you plan to use a rewards credit card to offset the rising costs of dining out, you’ll want to pay off 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:

• Set a monthly food budget. Using a written monthly budget (or one of the best budgeting apps) can help you track your spending and prioritize the things you want most. If you can cut back elsewhere in your budget, you can free up some extra money to eat out.
• Redeem credit card rewards for restaurant gift cards. Most cash back credit cards allow users to redeem rewards for restaurant gift cards, including the cards above. With this redemption you can score some restaurant meals for virtually free, which is always a good deal.
• Go out for dinner instead of lunch. Lunch prices are usually lower than dinner prices, even though you often get the exact same meal. You can save a lot by going to lunch (or even breakfast) instead of dinner a few times a month.
• Go to happy hour. Finally, look for early bird or ‘happy hour’ deals on food and drinks. Happy hour menus usually focus on alcoholic drinks, but often also include appetizers and small bites for lower prices.

The bottom line

Restaurant prices aren’t likely to drop anytime soon, but we still have some power over what we pay for meals. We can eat out less often, look for meal deals and eat out during the day instead of in 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 off your credit card in full every month.

*All information about the Capital One SavorOne Cash Rewards Credit Card and the Chase Freedom Flex has been independently collected by CNET and has not been reviewed by the issuer.