How a Credit Card Can Save You $564 In a Year When Dining Out With Your Friends

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a credit card can save you money by providing rewards when dining outOne of my favorite things about visiting my friends in New York is the endless number of places to eat – from your hole-in-the-wall bar to five-star dining. New York has delis, fabulous sushi restaurants, low-key pizza joints, cheap Chinese, and of course a Starbucks on every corner. With that said, my least favorite thing to do when I leave New York is look at my terrifying credit card statement and realize I could have bought a plane ticket to Mexico with the amount of money I spent on eating (and drinking) out. What’s more horrifying is to realize that I’m not carrying a credit card that earns me cash back for all of my dining expenses.

Millennials are focused on dining out with friends

After spending just one crazy long weekend with my close friends in New York I realized how I would be broke in a matter of months trying to keep up with their lifestyle. I asked them to estimate how much money they spend per week on dining purchases, which could be anything from the necessary morning breakfast with Starbucks in hand, to a quick lunch with a coworker or dinner at an ethnic restaurant. When I had my friends average their total money spent on necessary meals to a fun night out, the overall amount spent per week on dining was roughly $350. A whopping $18,200 a year spent at eating and drinking establishments.

Americans’ spending on dining out just overtook grocery sales

My friends are not alone in their love of going out for meals and are definitely not staying in and cooking at home. For the first time ever, people in the U.S. are spending more money dining out than buying groceries.  This isn’t shocking as the millennial generation views dining out as a social event or a way to connect.

Best credit cards to save $564 or more when dining out 

TD Cash Visa® Credit Card- Earn $200 cash back.

This offer expires May 25, 2016!

save money dining out with a TD Cash Rewards Card

This card gives you a $100 bonus and you only need to spend $500 within the first 3 months. Sad to say, my friends have a bad habit of using their debit card instead of getting at least 2% cash back on their food outings – and yeah, this card also earns 2% cash back on meal delivery services, too. By getting this card they could earn around $364 with the 2% cash back. Add that to the $200 sign-up bonus and that totals around $564, which amounts to roughly 10 days of FREE eating and drinking. That isn’t even adding the 1% cash back to the total so if they buy nice clothes, tickets to events, travel or anything else, there’s even more money back in their pockets. The fact that there’s no annual fee is awesome, and there are no caps or expiration.

Here’s what we like about the card:

  • Earn $100 cash back after you spend $500 in your first 3 months
  • Earn 2% back on all dining purchases
  • Earn 1% on all other purchases – no categories
  • Points never expire
  • Redeem your cash rewards for over 400 options – cash back, electronics, and gift cards
  • Redeem for round-trip airfare starting at $250
  • No foreign transaction fees
  • NO ANNUAL FEE

Premier Rewards Gold Card from American Express

American Express Premier is always a great option for earning rewards

With this card, the 25,000 bonus points are worth $250 you can use toward booking travel through American Express. And with your restaurant, gas station and supermarket purchases earning 2X, your points will add up fast. And what’s better, your flight purchases earn 3X if you book directly with an airline. That’s triple points every time you fly!

 

 

Here’s what we like about the card:

  • Receive 25,000 Membership Rewards® Points after you spend $2,000 on purchases on your new Card in your first 3 months of Card Membership.
  • Terms and limitations apply.
  • 3X points for flights booked directly with airlines. 2X points at US restaurants, US gas stations, and US supermarkets. 1X points on other purchases. Terms and limitations apply.
  • No matter where you’re traveling, when you use your Premier Rewards Gold Card there are no foreign transaction fees from American Express.
  • $100 Airline Fee Credit. Up to $100 a year in baggage fees and more at one airline.
  • Get a $75 hotel credit on qualifying charges, plus a room upgrade upon arrival, if available with The Hotel Collection at americanexpress.com/hc. Terms apply.
  • There is a $0 introductory annual fee for the first year, then $195.

Discover It®Chrome Card

save money and earn rewards with Discover's it Chrome Card

Discover It® Chrome gives 2% cash back on restaurant purchases up to $1,000 each quarter. And at the end of your first year, all the cash back you’ve earned up over the past 12 months is automatically doubled. So if you earned $100 cash back, they’ll double it to $200.

 

 

Here’s what we like about the card:

  • We’ll DOUBLE all the cash back you’ve earned at the end of your first year. So if you earned $101 cash back, we’ll double it to $202 – Automatically. Only for new cardmembers.*
  • 2% cash back at restaurants and gas stations on up to $1,000 in combined purchases every quarter – no sign – ups needed.* 1% cash back on all your other purchases.
  • 0% intro APR* on purchases & balance transfers for 12 months – then a variable purchase APR applies, currently 11.24% – 23.24%. A 3% fee applies to each transferred balance.
  • Freeze ItSM on/off switch lets you prevent new purchases, cash advances & balance transfers on misplaced cards in seconds by mobile app & online.* Plus get 100% U.S. based customer service.
  • Track your recent FICO® Credit Scores for free in one easy-to-read chart on monthly statements & online.*
  • No annual fee.* No overlimit fee. No foreign transaction fee. No late fee on first late payment & paying late won’t raise your APR.*
  • Each Discover purchase is monitored. If it’s unusual, you’re alerted by e-mail, phone or text and you’re never responsible for unauthorized purchases on your Discover card.
  • Click “Apply Now”. *See rates, rewards, FICO® Credit Score terms & other information.

Citi ThankYou® Premier Card

earn rewards with the citi thank you premier credit card

You get 2X ThankYou® Points on dining out and entertainment. As an extra travel perk, your ThankYou® points are worth 25% more when you redeem for airfare, hotels, cruises and car rentals though the ThankYou® Travel Center.

Here’s what we like about the card:

  • Earn 40,000 bonus points after spending $3,000 in purchases within the first 3 months of account opening
  • Plus earn 3X ThankYou Points per $1 spent on Travel including Gas, 2X ThankYou Points on Dining Out and Entertainment, 1X ThankYou Point on Other Purchases.
  • ThankYou Points are worth 25% more when redeemed for travel through thankyou.com, as compared to gift cards.
  • No foreign transaction fees on purchases
  • Points do not expire and earn unlimited ThankYou Points
  • Annual Fee: $95

Barclaycard Arrival Plus® World Elite Mastercard®

barclay card arrival plus world elite

For those of us who want to earn double points on everything, not just a few categories, The Barclaycard Arrival Plus® World Elite Mastercard® is the perfect fit. Every purchase earns 2X miles, and with the impressive 40,000 bonus miles at sign-up, you can redeem for a travel statement credit pretty fast. And each time you redeem, you get 5% back to use toward your next redemption.

 

Here’s what we like about the card:

  • Enjoy 40,000 bonus miles after you spend $3,000 on purchases in the first 90 days – that’s enough to redeem for a $400 travel statement credit toward an eligible travel purchase.
  • Earn 2X miles on all purchases
  • Get 5% miles back to use toward your next redemption, every time you redeem
  • Miles don’t expire as long as your account is open, active and in good standing
  • No foreign transaction fees on purchases made while traveling abroad
  • 0% introductory APR for 12 months on Balance Transfers made within 45 days of account opening. After that, a variable APR will apply, 16.99%, 20.99% or 23.99%, based on your creditworthiness. There is a fee for balance transfers.

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Editorial Note: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.