The Vibe Journal: Finance Blogs

Your CRIF credit report is an important document that lenders check when you apply for credit. It is generated by one of India’s four main credit bureaus, CRIF High Mark. The report contains your CRIF credit score and insights about your borrowing behaviour, which lenders use to assess your creditworthiness.  Based on it, the lenders …

Knowing the charges for credit card cash withdrawal is a must before you use this facility. Cash withdrawal via a credit card can be an ideal way to access funds when you are in need, but it comes at a cost applicable from the date you make the withdrawal.  This charge also differs from the …

EMV cards have gradually replaced metal strip cards. A primary reason for this is that they come with stronger encryption to protect your card details during the transaction. While metal strip cards encode your details in the strip on the back of the card, these cards store your details in an EMV chip. Read on …

Think of a credit appraisal as the immediate response to your loan application. Financial firms, be it a bank or NBFC, run this check to see if you qualify for credit, be it a loan or a credit card. This process helps them understand your repayment ability and thereby, the risk they will take on …

Knowing the 5Cs of credit is crucial as lenders use this as a framework to assess the creditworthiness of a borrower. These 5Cs refer to the following: With a possibility of credit risk looming over the creditor, lenders evaluate a prospective borrower’s financial standing before approving a loan. Each of the 5Cs of credit mentioned …

Financial institutions like banks offer prepaid credit cards to help you go cashless without being exposed to any debt. Unlike regular credit cards, prepaid cards require you to transfer funds into the card account before you can begin using them. You can then pay online or offline until your balance is exhausted.  One of the …

Virtual credit cards (VCCs) are digital copies of regular credit cards offered by issuers upon your request. These cards help protect your card details, especially when making online transactions. This is especially important in recent times due to the increase in fraud, hacking and fake websites impersonating genuine e-commerce platforms.  When you generate a virtual …

Credit cards have become increasingly popular and therefore, credit card validation has become more pertinent than ever. The validation process helps ensure the card number is valid. While the process is complex, many online credit card validators make this easier, simpler and quicker.  Read on to learn how credit card validators work, their importance, benefits …

Investing in a chit fund and applying for a personal loan are a few options financial institutions offer to help you manage financial needs. However, before choosing an ideal option, you need to understand their meaning, differences and benefits.  While a chit fund is an informal option for borrowing and saving money, a personal loan …

A credit card is a handy tool to fulfil your short-term goals with the help of a pre-approved credit limit. If you are in need of a higher amount to meet an emergency and need more time to repay it, you can opt for a loan on a credit card.  Similar to other borrowing options, …