Credit Cards at Fast Food Restaurants More than meets the eye

Many fast food chains are now accepting credit cards. While the convenience is definately tempting, many may not be aware of the costs of using this method.

If you give a cashier ten dollars for a ten dollar meal you have paid for the meal and the payment is over. If you give a cashier a credit card for a ten dollar meal, as far as the cashier is concerned their part of the transaction is over and they have recieved their payment. On your end the payment is just beginning.

Many people dont realize that interest, even lower interest rates, over time will add up and subtract from their bottom line. An average credit card with a 10% interest rate on a $10.00 dollar meal will equal an additional dollar for every meal.

The average family eats out at least ten times per month. The total spent equals at least $600.00 additional dollars per year assuming the family uses their credit card with an interest rate of 10%.

While to some, this may not seem like an extremely large amount of money. Over five years this is $3,000 dollars. Many people can purchase used cars for that amount of money.

If you are saving for that dream vacation consider using cash instead of credit. The savings are worth it

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