topic Re: Best restaurant card? in Credit Cards

Best restaurant card?

Anonymous — Thu, 23 Jul 2015 20:00:35 GMT

Hello all. I realize that a lot of you are card crazy (in a nice way) and would know more about this than I do. So I'd welcome any advice you can give me.

I am looking to get another card. One reason is that I just think in the long run I'd like to have five, rather than the four I have now. I just would like the extra layer of thickness it would give my profile. (My profile has a number of installment accounts too, so it's far from being thin. But some of them will fall off in the next 10 years.)

My FICO scores are in the 830s. So there is no limit from that end as to what I could apply for and get.

The question is which one I want to choose. I almost never fly anywhere, or travel places where I would stay in hotels. My car doesn't burn much gas. I don't shop in any particular store a lot. I do almost no home improvement stuff (Lowes, Home Depot). And since I am thinking about a card that I would keep for a long time.I don't want one where I would pay an annual fee.

I am doing pretty well on cash back cards. I have an American Express Blue Cash Prefered for 6% cash back on groceries. (I crunched the numbers and I come out WAY ahead, even with the annual fee, given my grocery bill.) The Amex gives me 3% cash back on gas and department stores. My Citi Double Cash gives me 2% on everything else.

The one thing I have been able to identify that I spend money on is local restaurants. Maybe $2000 a year. So if any of you can think of a hypersweet card for restaurants that would be great.

Another possibility is a quarterly rotating 5% card like Discover or Chase Freedom. The restaurant category seems to one they incude each year. And categories like Amazon and gas are ones I like too.

Re: Best restaurant card?

redpat — Thu, 23 Jul 2015 20:06:50 GMT

Not much spend to make a big difference, one card you might look at is Chase AARP 3% on all restuarants.

Re: Best restaurant card?

Anonymous — Thu, 23 Jul 2015 20:12:15 GMT

The only thing I can think of outside of what you mentioned is the Citi Thankyou Preferred and Barclay Arrival (not the plus). They are both no annual fee and 2 points/miles respectively for dining.

Re: Best restaurant card?

kdm31091 — Thu, 23 Jul 2015 20:15:16 GMT

@Anonymous wrote:
Hello all. I realize that a lot of you are card crazy (in a nice way) and would know more about this than I do. So I'd welcome any advice you can give me.

I am looking to get another card. One reason is that I just think in the long run I'd like to have five, rather than the four I have now. I just would like the extra layer of thickness it would give my profile. (My profile has a number of installment accounts too, so it's far from being thin. But some of them will fall off in the next 10 years.)

My FICO scores are in the 830s. So there is no limit from that end as to what I could apply for and get.

The question is which one I want to choose. I almost never fly anywhere, or travel places where I would stay in hotels. My car doesn't burn much gas. I don't shop in any particular store a lot. I do almost no home improvement stuff (Lowes, Home Depot). And since I am thinking about a card that I would keep for a long time.I don't want one where I would pay an annual fee.

I am doing pretty well on cash back cards. I have an American Express Blue Cash Prefered for 6% cash back on groceries. (I crunched the numbers and I come out WAY ahead, even with the annual fee, given my grocery bill.) The Amex gives me 3% cash back on gas and department stores. My Citi Double Cash gives me 2% on everything else.

The one thing I have been able to identify that I spend money on is local restaurants. Maybe $2000 a year. So if any of you can think of a hypersweet card for restaurants that would be great.

Another possibility is a quarterly rotating 5% card like Discover or Chase Freedom. The restaurant category seems to one they incude each year. And categories like Amazon and gas are ones I like too.

Chase AARP is an option (anyone can have it, though I personally don't as I'd feel silly with it, but that's just psychological), it gives 3% on dining. But really, $2000 a year is $166 a month. At 3% vs 2%, your AARP would give you $4.98 a month, vs Double Cash $3.32....maybe not worth even caring about and opening a new account.

US Bank's Cash+ has 5% on fast food and 2% on actual restaurants. For me it's useful as I eat fast food more than I probably should lol, but the actual restaurant is the same payout as a Double Cash.

Avoid the Thank You Preferred. Yes it pays out "2x points" dining, but you have a Double Cash with a true 2% cash, and Thank You points are not always redeemable for the full penny. In short it offers you nothing over your Double Cash. Similarly, the no fee Arrival gives 2% dining, but you already have that, so... (and the Arrival is only a full 2% on travel redemptions, which you say you don't travel much so not worth it)

In short, I don't know that you really need a new card just for this purpose. The Discover is a more well rounded option, gives 5% during the year on varying categories one of which is usually restaurants (though I'd caution that year to year, these things can change). Freedom, on its own, is IMO a lesser version of Discover. Discover offers things like home improvement and online shopping, whereas with Freedom it's usually tighter and just Amazon or just Lowe's. Freedom paired with a CSP increases its value, but compared side by side, Discover is the obvious winner from my perspective.

I'd probably add Discover vs the Chase AARP, in summary. The AARP is basically otherwise useless other than an extra 1% on dining, whereas the Discover gives you a more well rounded benefit and access to their Deals mall with some good percentages off on a lot of websites. Good luck!

Re: Best restaurant card?

SunriseEarth — Thu, 23 Jul 2015 20:19:06 GMT

My dining card of choice is the Sam's Club MC. I have 3% dining. The 5% gas is also nice.

Other options you might consider would be Chase AARP and Golden 1 CU (if you're in their footprint) for 3% dining. Huntington Voice also lets your choose 3% dining as a category, but you also need to be in their footprint.

As for cards with rotating categories, Discover It is a great option. Q2 was 5% dining. And new customers will get all cashback rewards doubled after 12 months, which makes this a de factor 2% general spend card for the first year.

Re: Best restaurant card?

kdm31091 — Thu, 23 Jul 2015 20:22:59 GMT

@SunriseEarth wrote:
My dining card of choice is the Sam's Club MC. I have 3% dining. The 5% gas is also nice.

Other options you might consider would be Chase AARP and Golden 1 CU (if you're in their footprint) for 3% dining. Huntington Voice also lets your choose 3% dining as a category, but you also need to be in their footprint.

As for cards with rotating categories, Discover It is a great option. Q2 was 5% dining. And new customers will get all cashback rewards doubled after 12 months, which makes this a de factor 2% general spend card for the first year.

What's dubious is whether 3% is really significant enough over 2% on $2k a year spend for dining (comes out to less than 2 bucks more a month) .That's for OP to decide though.

Discover's effective 10% on dining w/ the promo for even a quarter means it would take a long time for an AARP/Voice/etc to catch up, rewards wise, but the dining quarter has already passed. Unless OP gets Discover now and still can get the double promo and use it for next's year dining quarter.

Re: Best restaurant card?

Anonymous — Thu, 23 Jul 2015 20:41:02 GMT

Love these suggestions, guys. I will keep tuning in.

The observation about 3% (vs. 2% Citi 2Cash) is smart. A 3% restaurant card gets me $20 a year extra over Citi 2C. That's why a 5% quarterly card seemed like a possibility. At least there would feel like some definite advantage per transaction to using it -- even if only for that quarter. (Same for the advantage on gas, Amazon, etc.)

I will be continue to be open to the possibility of a short term card too. I see that being a possibilty if I get to a place where I actually want to travel a short bit. May not happen until the next year or two, but if it does I am open to something like the Chase Sapphire or some other travel card where they give you a huge sign up bonus and waive the annual fee for the first year. I can see doing that and then cancelling at month 11.

Re: Best restaurant card?

kdm31091 — Thu, 23 Jul 2015 20:45:07 GMT

@Anonymous wrote:
Love these suggestions, guys. I will keep tuning in.

The observation about 3% (vs. 2% Citi 2Cash) is smart. A 3% restaurant card gets me $20 a year extra over Citi 2C. That's why a 5% quarterly card seemed like a possibility. At least there would feel like some definite advantage per transaction to using it -- even if only for that quarter. (Same for the advantage on gas, Amazon, etc.)

I will be continue to be open to the possibility of a short term card too. I see that being a possibilty if I get to a place where I actually want to travel a short bit. May not happen until the next year or two, but if it does I am open to something like the Chase Sapphire or some other travel card where they give you a huge sign up bonus and waive the annual fee for the first year. I can see doing that and then cancelling at month 11.

Sapphire gives you only 2% on dining, although the value can be more with travel transfers but since your travel plans are pretty vague so I don't see the real point or advantage in Sapphire for you at this time (yes, you can just cancel after year one to avoid the fee, but be careful. Chase is not a fan of such things, and may not let you back in in the future if it becomes a habit).

Re: Best restaurant card?

redpat — Thu, 23 Jul 2015 20:57:17 GMT

@kdm31091 wrote:
@Anonymous wrote:
Love these suggestions, guys. I will keep tuning in.

The observation about 3% (vs. 2% Citi 2Cash) is smart. A 3% restaurant card gets me $20 a year extra over Citi 2C. That's why a 5% quarterly card seemed like a possibility. At least there would feel like some definite advantage per transaction to using it -- even if only for that quarter. (Same for the advantage on gas, Amazon, etc.)

I will be continue to be open to the possibility of a short term card too. I see that being a possibilty if I get to a place where I actually want to travel a short bit. May not happen until the next year or two, but if it does I am open to something like the Chase Sapphire or some other travel card where they give you a huge sign up bonus and waive the annual fee for the first year. I can see doing that and then cancelling at month 11.
Sapphire gives you only 2% on dining, although the value can be more with travel transfers but since your travel plans are pretty vague so I don't see the real point or advantage in Sapphire for you at this time (yes, you can just cancel after year one to avoid the fee, but be careful. Chase is not a fan of such things, and may not let you back in in the future if it becomes a habit).

Option, get CSP and the 40k bonus points and also get Freedom. Then give them one year AF still up $305 for travel and before your third year comes up transfer CL to Freedom and close out CSP. By using the 5% quarter you will average the same as a 2% card for restaurants and you will also have the other 5% categories during the year.

In addition Freedom, I believe transfers at a higher UR than 1:1 to CSP.

Re: Best restaurant card?

Revelate — Thu, 23 Jul 2015 20:59:23 GMT

@kdm31091 wrote:
@Anonymous wrote:
Love these suggestions, guys. I will keep tuning in.

The observation about 3% (vs. 2% Citi 2Cash) is smart. A 3% restaurant card gets me $20 a year extra over Citi 2C. That's why a 5% quarterly card seemed like a possibility. At least there would feel like some definite advantage per transaction to using it -- even if only for that quarter. (Same for the advantage on gas, Amazon, etc.)

I will be continue to be open to the possibility of a short term card too. I see that being a possibilty if I get to a place where I actually want to travel a short bit. May not happen until the next year or two, but if it does I am open to something like the Chase Sapphire or some other travel card where they give you a huge sign up bonus and waive the annual fee for the first year. I can see doing that and then cancelling at month 11.
Sapphire gives you only 2% on dining, although the value can be more with travel transfers but since your travel plans are pretty vague so I don't see the real point or advantage in Sapphire for you at this time (yes, you can just cancel after year one to avoid the fee, but be careful. Chase is not a fan of such things, and may not let you back in in the future if it becomes a habit).

If you're only getting 2% on a CSP you're doing it wrong .

Even just UR mall spending that's like 2.5% anyway, and if you can make use of one of the point programs you can do better than that.

Regarding the percentage difference, that was why I decided against the SSFCU Power Travel Rewards card at 3.3%, just wasn't enough even with my spend which is a lot higher than CGD's currently to justify the tradeline.

@Anonymous: don't know why you're trying to optimize over $20/year, inquiries / marginal tradelines have more value to me than that.

Re: Best restaurant card?

Anonymous — Thu, 23 Jul 2015 20:59:05 GMT

@kdm31091 wrote:
@Anonymous wrote:
Love these suggestions, guys. I will keep tuning in.

The observation about 3% (vs. 2% Citi 2Cash) is smart. A 3% restaurant card gets me $20 a year extra over Citi 2C. That's why a 5% quarterly card seemed like a possibility. At least there would feel like some definite advantage per transaction to using it -- even if only for that quarter. (Same for the advantage on gas, Amazon, etc.)

I will be continue to be open to the possibility of a short term card too. I see that being a possibilty if I get to a place where I actually want to travel a short bit. May not happen until the next year or two, but if it does I am open to something like the Chase Sapphire or some other travel card where they give you a huge sign up bonus and waive the annual fee for the first year. I can see doing that and then cancelling at month 11.
Sapphire gives you only 2% on dining, although the value can be more with travel transfers but since your travel plans are pretty vague so I don't see the real point or advantage in Sapphire for you at this time (yes, you can just cancel after year one to avoid the fee, but be careful. Chase is not a fan of such things, and may not let you back in in the future if it becomes a habit).

Yep! I agree totally. There is no short-term card I can think of needing right now precisely because I don;t have any hotel or airfare needs quivering on the horizon. The Sapphire was an example of something I can imagine getting in (say) 2017 if I actually start to travel some -- and then just to grab a huge signup bonus.

Thanks for the heads up about Chase not liking that.

Re: Best restaurant card?

SunriseEarth — Thu, 23 Jul 2015 22:21:39 GMT

@kdm31091 wrote:
@SunriseEarth wrote:
My dining card of choice is the Sam's Club MC. I have 3% dining. The 5% gas is also nice.

Other options you might consider would be Chase AARP and Golden 1 CU (if you're in their footprint) for 3% dining. Huntington Voice also lets your choose 3% dining as a category, but you also need to be in their footprint.

As for cards with rotating categories, Discover It is a great option. Q2 was 5% dining. And new customers will get all cashback rewards doubled after 12 months, which makes this a de factor 2% general spend card for the first year.
What's dubious is whether 3% is really significant enough over 2% on $2k a year spend for dining (comes out to less than 2 bucks more a month) .That's for OP to decide though.

Discover's effective 10% on dining w/ the promo for even a quarter means it would take a long time for an AARP/Voice/etc to catch up, rewards wise, but the dining quarter has already passed. Unless OP gets Discover now and still can get the double promo and use it for next's year dining quarter.

"Worth" is always an interesting factor. For example, the $100 sign-up bonus for QS means that Citi DC's 2% wouldn't beat QS's 1.5% until you spend over $20K.

Is it worth taking another TL for an extra $20 in pocket? Perhaps not, but there are other factors to consider. If another TL would help with UTIL and maintaining enough zero balances, for example, that's a nice factor.

Re: Best restaurant card?

kdm31091 — Thu, 23 Jul 2015 22:27:36 GMT

@SunriseEarth wrote:
@kdm31091 wrote:
@SunriseEarth wrote:
My dining card of choice is the Sam's Club MC. I have 3% dining. The 5% gas is also nice.

Other options you might consider would be Chase AARP and Golden 1 CU (if you're in their footprint) for 3% dining. Huntington Voice also lets your choose 3% dining as a category, but you also need to be in their footprint.

As for cards with rotating categories, Discover It is a great option. Q2 was 5% dining. And new customers will get all cashback rewards doubled after 12 months, which makes this a de factor 2% general spend card for the first year.
What's dubious is whether 3% is really significant enough over 2% on $2k a year spend for dining (comes out to less than 2 bucks more a month) .That's for OP to decide though.

Discover's effective 10% on dining w/ the promo for even a quarter means it would take a long time for an AARP/Voice/etc to catch up, rewards wise, but the dining quarter has already passed. Unless OP gets Discover now and still can get the double promo and use it for next's year dining quarter.
"Worth" is always an interesting factor. For example, the $100 sign-up bonus for QS means that Citi DC's 2% wouldn't beat QS's 1.5% until you spend over $20K.

Is it worth taking another TL for an extra $20 in pocket? Perhaps not, but there are other factors to consider. If another TL would help with UTIL and maintaining enough zero balances, for example, that's a nice factor.

Very true. It would also tip the scales if the 3% dining cards offered some other compelling feature. I am not super familiar with the Voice card so not sure what else you get out of it besides 3% dining, but the AARP seems to be literally just a 3% dining card (ok and gas) and that's about it, no real other perk or incentive or features.

Re: Best restaurant card?

fliphusker — Thu, 23 Jul 2015 22:36:15 GMT

Discoer pays 5% from April to June, and they currently have the 2% cash back for 1st year. 5% Chase Freedom in same time frame with $100 sign up bonus too. Just got that one for 5% at grocery stores from January to march.

Re: Best restaurant card?

Themanwhocan — Thu, 23 Jul 2015 22:52:02 GMT

For restaurant cash back:

http://ficoforums.myfico.com/t5/Credit-Cards/Cash-Back-credit-card-charts/td-p/4004725

Scrol down to the "restaurant and gas on a single card" chart, followed by the "restaurant cards" chart.

Re: Best restaurant card?

Anonymous — Thu, 23 Jul 2015 23:08:17 GMT

@fliphusker wrote:
Discoer pays 5% from April to June, and they currently have the 2% cash back for 1st year. 5% Chase Freedom in same time frame with $100 sign up bonus too. Just got that one for 5% at grocery stores from January to march.

Well, that's speculative. Restaurants *could* be April-June. Or could be January-March, or could be October-December. Or not at all. But for at least five years now, *some* quarter, Discover has had restaurants at 5% cashback. And for current applications, Discover doubles all cashback for the first year. So if you apply now, then as long as restaurants are 5% for either Q1 or Q2 of 2016, you'll get 10% cashback on restaurants for a quarter (a good time to stock up on restaurant gift cards). And of course, you'll also get 10% cashback on the other quarterly categories (Department/Home Improvement/Amazon this quarter, "Holiday Shopping" in Q4).

So, OP, if you don't have a Discover it card, I think now would be the ideal time to sign up for one.

Chris.

Historical 5% Discover Cashback on restaurants

2015: Q2

2014: Q1

2013: Q1

2012: Q2

2011: Q4

2010: Q4

2009: Q4

Re: Best restaurant card?

Revelate — Thu, 23 Jul 2015 23:12:01 GMT

@SunriseEarth wrote:
@kdm31091 wrote:
@SunriseEarth wrote:
My dining card of choice is the Sam's Club MC. I have 3% dining. The 5% gas is also nice.

Other options you might consider would be Chase AARP and Golden 1 CU (if you're in their footprint) for 3% dining. Huntington Voice also lets your choose 3% dining as a category, but you also need to be in their footprint.

As for cards with rotating categories, Discover It is a great option. Q2 was 5% dining. And new customers will get all cashback rewards doubled after 12 months, which makes this a de factor 2% general spend card for the first year.
What's dubious is whether 3% is really significant enough over 2% on $2k a year spend for dining (comes out to less than 2 bucks more a month) .That's for OP to decide though.

Discover's effective 10% on dining w/ the promo for even a quarter means it would take a long time for an AARP/Voice/etc to catch up, rewards wise, but the dining quarter has already passed. Unless OP gets Discover now and still can get the double promo and use it for next's year dining quarter.
"Worth" is always an interesting factor. For example, the $100 sign-up bonus for QS means that Citi DC's 2% wouldn't beat QS's 1.5% until you spend over $20K.

Is it worth taking another TL for an extra $20 in pocket? Perhaps not, but there are other factors to consider. If another TL would help with UTIL and maintaining enough zero balances, for example, that's a nice factor.

Problem is any national bank card can do that, so why not pick one that is worth more to you than an additional yuppie food stamp per year?

Re: Best restaurant card?

Anonymous — Thu, 23 Jul 2015 23:44:46 GMT

Gosh, I'm not one for vanity, but I just can't swallow the idea of dropping $100-150+ at a swanky restaurant for a night on the town and pulling out my AARP (I'm in my 20's) or SAM'S CLUB card to pay the tab. I'll take the measly 2% back on my Fido Amex or put it on one of my airline cards, the extra 1% isn't worth my pride especially as I dine out infrequently. To each their own though.

Re: Best restaurant card?

kdm31091 — Thu, 23 Jul 2015 23:51:20 GMT

@Anonymous wrote:
Gosh, I'm not one for vanity, but I just can't swallow the idea of dropping $100-150+ at a swanky restaurant for a night on the town and pulling out my AARP (I'm in my 20's) or SAM'S CLUB card to pay the tab. I'll take the measly 2% back on my Fido Amex or put it on one of my airline cards, the extra 1% isn't worth my pride especially as I dine out infrequently. To each their own though.

That's the problem. Although anyone can apply for the AARP card, I'd feel downright ridiculous using it being in my 20's, so 2% restaurants/5% fast food with cash+ will have to suffice.

Re: Best restaurant card?

Anonymous — Thu, 23 Jul 2015 23:59:21 GMT

@Anonymous wrote:
Gosh, I'm not one for vanity, but I just can't swallow the idea of dropping $100-150+ at a swanky restaurant for a night on the town and pulling out my AARP (I'm in my 20's) or SAM'S CLUB card to pay the tab. I'll take the measly 2% back on my Fido Amex or put it on one of my airline cards, the extra 1% isn't worth my pride especially as I dine out infrequently. To each their own though.

Like most sentences that begin "I'm not [a racist/old-fashioned/lacking a sense of humor etc]" the rest of the sentence suggests that in fact you are! Some people really wouldn't care about which card they use, providing it maximizes the reward. So, yes, you are vain at least to the extent of 1%