If you use credit card when you eat out a lot, then you must consider a credit card that rewards you for your dining expenses. However, only because you eat out doesn’t essentially mean you should apply for restaurant credit cards. There are several reasons which will help you to understand, why you should apply for one and there are some others, why should refuse them. Here is the comparison of features and charges associated with restaurant credit cards of different companies-
• Chase Sapphire Preferred Card: It offers two points on a dollar spent for dining and traveling. Customer can fetch annual dividend on points they have already earned over a year. Customers don’t have to pay any annual fees for initial year and first year onwards, they have to bear $95 per annum. Company provides 24/7 access to proficient service advisors who resolves their queries. There is no introductory APR involved in this credit card.
• Citi Forward Card: It offers 5 points for each dollar spent at restaurants and one point for each dollar consumed on other purchases. There is no introductory APR involved for initial year on balance transfer. Customers can also make interest-free purchases for initial 7 months. After grace period, customers need to bear interest rate of 12.99 to 22.99% which vary according to the scheme. There is no annual fee applicable for Citi Forward Card.
• MTV Visa Card From Capital One: Customers can avail 2 points per dollar spent at hotels, coffee shops, restaurants or fast food places. There is no limitation on points a customer can earn and they will not get expire. There is no introductory APR for initial 12 months and customers don’t need to pay any annual fee. If customers able to maintain their account in good standing by meeting billing requirements in time, they can get 25 bonus points from company. Customers can also avail 5 points on a dollar spent on entertainment like movies, sporting events and music.
If you have previous credit card debts and want to pay off them immediately, then the key thing will be to cut down your dining expenses and utilized that saved money to repay your previous credit card debt. Once you clear your debts, you can go for a credit card that provides you benefits for dining and eating out.