Which Credit Card Is Better for Dining — Chase Freedom or Chase Sapphire Reserve?
Update: Some offers mentioned below are no longer available. View the current offers here.
"Reader Questions" are answered three days a week — Mondays, Wednesdays and Fridays — by TPG Senior Writer Julian Mark Kheel.
The third quarter just started and the Chase Freedom card is offering an intriguing bonus category for the next three months. (No longer open to new applicants.) But TPG reader Rochelle wants to know if she should forgo points for the extra cash back...
[pullquote source="TPG Reader Rochelle"]Chase Freedom is offering 5% cash back on restaurants from July 1-September 30. Is this a better deal than 3x points on the Chase Sapphire Reserve?[/pullquote]
Chase Ultimate Rewards points are one of the most valuable loyalty currencies out there, so if you're going to give them up for cash back, then you'd better be getting an even better return. But in this case, there's actually a way to have the best of both worlds.
First though, let's consider the value of 5% cash back versus 3x Ultimate Rewards points. According to TPG's most recent points valuations, Ultimate Rewards are worth 2.2 cents apiece. That means if you're getting 3 points on your dining purchases using your Chase Sapphire Reserve, you're effectively earning 6.6 cents per dollar spent. With the Chase Freedom restaurant bonus category this quarter, you're only getting 5% cash back or 5 cents per dollar spent.
Now, there's always something to be said about the flexibility of cash versus points. Cash is king — you can spend it anytime, anywhere, without having to worry about award availability or redemption charts. It's also possible if you already have a ton of Ultimate Rewards points sitting in your account that you don't really need to earn any more at the moment, while almost no one has ever been worried about having too much cash available to spend. So there might be a reason to give up earning an extra 1.6 cents worth of points in order to get the cash, but it'd have to be a pretty compelling reason.
However, here's where the good news comes in — in this case, you don't have to choose one over the other at all. That's because cash back earned with the Chase Freedom actually comes in the form of Ultimate Rewards points. Normally with just the Chase Freedom, those points can only be redeemed for cash at 1 cent per point. But if you also have the Chase Sapphire Reserve, the points can be combined between the two cards and used just like normal Ultimate Rewards points. So basically, you can earn 5% cash back in the form of 5x Ultimate Rewards points by dining out with the Chase Freedom card during the months of July, August and September. Then instead of redeeming those points for cash, combine them with the CSR to get 2.2 cents per point in travel value for a whopping return of 11 cents per dollar spent.
Just don't forget that you'll need to activate your Chase Freedom bonus category and bonus spend is capped at $1,500 per quarter, so you'll want to switch back to your Chase Sapphire Reserve if you hit that cap before September 30.
Thanks for your question, Rochelle, and you're a TPG reader who'd like us to answer a question of your own — or teach me something new! — tweet us at @thepointsguy, message us on Facebook or email us at info@thepointsguy.com.
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 3X | Earn 3X Miles on Delta purchases. |
| 1X | Earn 1X Miles on all other eligible purchases. |
Pros
- Delta SkyClub access when flying Delta
- Annual companion ticket for travel on Delta (upon renewal)
- Ability to earn MQDs through spending
- Various statement credits for eligible purchases
Cons
- Steep annual fee of $650
- Other Delta cobranded cards offer superior earning categories
- Earn 100,000 Bonus Miles after you spend $6,000 or more in purchases with your new Card within the first 6 months of Card Membership and an additional 25,000 bonus miles after you make an additional $3,000 in purchases on the Card within your first 6 months, starting from the date that your account is opened. Offer Ends 04/01/2026.
- Delta SkyMiles® Reserve American Express Card Members receive 15 Visits per Medallion® Year to the Delta Sky Club® when flying Delta and can unlock an unlimited number of Visits after spending $75,000 in purchases on your Card in a calendar year. Plus, you’ll receive four One-Time Guest Passes each Medallion Year so you can share the experience with family and friends when traveling Delta together.
- Enjoy complimentary access to The Centurion® Lounge in the U.S. and select international locations (as set forth on the Centurion Lounge Website), Sidecar by The Centurion® Lounge in the U.S. (see the Centurion Lounge Website for more information on Sidecar by The Centurion® Lounge availability), and Escape Lounges when flying on a Delta flight booked with the Delta SkyMiles® Reserve American Express Card. § To access Sidecar by The Centurion® Lounge, Card Members must arrive within 90 minutes of their departing flight (including layovers). To access The Centurion® Lounge, Card Members must arrive within 3 hours of their departing flight. Effective July 8, 2026, during a layover, Card Members must arrive within 5 hours of the connecting flight.
- Receive $2,500 Medallion® Qualification Dollars with MQD Headstart each Medallion Qualification Year and earn $1 MQD for each $10 in purchases on your Delta SkyMiles® Reserve American Express Card with MQD Boost to get closer to Status next Medallion Year.
- Enjoy a Companion Certificate on a Delta First, Delta Comfort, or Delta Main round-trip flight to select destinations each year after renewal of your Card. The Companion Certificate requires payment of government-imposed taxes and fees of between $22 and $250 (for itineraries with up to four flight segments). Baggage charges and other restrictions apply. Delta Basic experiences are not eligible for this benefit.
- $240 Resy Credit: When you use your Delta SkyMiles® Reserve American Express Card for eligible purchases with U.S. Resy restaurants, you can earn up to $20 each month in statement credits. Enrollment required.
- $120 Rideshare Credit: Earn up to $10 back in statement credits each month after you use your Delta SkyMiles® Reserve American Express Card to pay for U.S. rideshare purchases with select providers. Enrollment required.
- Delta SkyMiles® Reserve American Express Card Members get 15% off when using miles to book Award Travel on Delta flights through delta.com and the Fly Delta app. Discount not applicable to partner-operated flights or to taxes and fees.
- With your Delta SkyMiles® Reserve American Express Card, receive upgrade priority over others with the same Medallion tier, product and fare experience purchased, and Million Miler milestone when you fly with Delta.
- Earn 3X Miles on Delta purchases and earn 1X Miles on all other eligible purchases.
- No Foreign Transaction Fees. Enjoy international travel without additional fees on purchases made abroad.
- $650 Annual Fee.
- Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
- Terms Apply.
- See Rates & Fees