Credit cards can make you fat |
|
|
|
Supersizing made easy
But while customers like the convenience of being able to pay for
fast food with plastic, their waistlines might not be so forgiving.
A number of studies show that consumers are less likely to drive
by fast food restaurants if they know the restaurants accept credit
cards. In 2002 Visa USA conducted a poll and found that 32 percent
of customers admitted that they had limited their drive-through
orders because they did not have enough cash to pay for what they
wanted. The ability to use credit cards eliminates that obstacle.
Not only that, but people spend more money when they
pay via credit card than they would if they were paying with cash. A Visa study
of 100,000 restaurant transactions found that customers spent, on average, 30
percent more than those who paid with cash. That 30 percent can be the difference
between a small order of fries and soft drink and a supersize order, or it can
be the addition of a high-calorie dessert. In a study published
in June 2006 in the Journal of the American College of Nutrition, researchers
at the University of Wisconsin-Madison said they found the average up-sized fast-food
meal added 73 more calories to the meal, cost an extra 67 cents and resulted in
an average 36-gram (0.07 pounds) weight gain. Some groups
are particularly at risk of amassing calories as they amass debt. College students
have an average of 2.8 credit cards apiece and owe approximately $885, according
to United College Marketing Services. College students are also a major consumer
of fast foods since fast food is inexpensive and convenient to the students' active
lifestyles. Since students often don't have steady incomes, the result can be
disastrous if students charge fast food meals on top of their other balances and
end up paying finance charges on the meals. "Your $7
meal can end up costing you $10 when it's ultimately paid in full," says
Catherine Williams, vice president of financial literacy for Money Management
International. Debit or credit
The financial wisdom of using plastic to pay for fast food varies according with
the situation. Most financial experts say if convenience is the main concern it's
better to use a debit card than a credit card because there's no chance of interest
or late fees. Another risk consumers should consider: "Every
swipe of your card is exposure to ID theft," says Williams. "It's so
easy for the bad guys to put these card readers on things and you might not even
know they're there." Another downfall of using credit
cards for fast food purchases is "It eats into your credit line," says
Williams. For those who eat out for lunch every day, spending between $7 and $9
per meal, that's $45 per week and $180 a month, she says. "That would at
least chip away and should you ever need your full credit line, it could use up
some of it." Those who do choose to use credit cards to
buy fast food should make sure they follow the most important rule, which is to
never carry a balance over from month to month. "We know
that only one-third of consumers truly pay off in full," says Williams. Anyone
who does not pay in full should avoid using credit cards at fast food restaurants
at all costs. | 
