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All of the UK’s major credit card providers treat any form of gambling activity on a credit card as a cash withdrawal, new research has revealed.

According to moneysupermarket.com, the price comparison website, this means that when using their card for gambling, credit card users may face higher APRs than they may have anticipated.

Indeed, Britons may find themselves charged around 11 per cent higher than their advertised APR when using their credit card as cash.

Kevin Mountford, head of banking at moneysupermarket.com, explained that credit card users have to be careful “how and where they use their card”.

He added: “The vast majority of consumers are aware that withdrawing cash on a credit card can be a costly exercise and should be avoided. Read more…

Tags: Cash Withdrawal, Credit Card, Withdrawal

Some of the world’s most renowned and respected financial planners and investment advisors have begun to recommend that investors – even ordinary ones just trying to save for retirement – forget about playing the stock market, investing in bonds, or using the old tried and true method of diversifying through a strong mutual fund. Instead they are suggesting that the only way to ensure real diversification and balance while investing in the stock market is to rely on index funds. These are kind of like mutual funds that instead of investing in individual stocks or companies instead invest in whole indices like the S&P 500 or a broad selection of global stocks.

This method of investing exposes the individual investor to more than just one stock, a dozen stocks, or even a hundred different stocks. Instea

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Credit card spending is expected to fall over 2010, as more people focus on bringing down their debt . Research by Datamonitor has predicted that the reliance on credit cards for funding daily purchasing and paying bills, a spending pattern that emerged out of the recession, is coming to an end, with spending set to fall by around 2.7 per cent compared to last year.

This would reduce overall spending on credit cards by GBP3.1 billion to GBP110.59 billion, which comes after the record slowdown of 2009, when spending decreased by GBP7.8 billion. Read more…

Tags: 2010, Credit Card