WalletHub recently posted an article about instant approval credit cards and cited expert advice from Appalachian State University finance professor Bryan Bouboulis.
Bouboulis is a senior lecturer in the Department of Finance, Banking and Insurance in Appalachian's Walker College of Business.
According to the post, applicants could be instantly approved for any credit card, but some cards are more suitable given one's credit standing. In other words, the higher your credit score is, the more instant approval credit cards there will be.
"All of your credit information is already online," said Bouboulis. "The companies are all tied to the same data base so getting and deciding on the information is pretty quick."
Bouboulis warned that getting instant credit it is generally not a good thing.
"Getting credit is something that people should take some time and research. What are they needing it for, how long, what is the goal of the credit? What is the cost of the credit, interest rate and total cost after making the payments? If they are getting instant credit, it may not be the best decision for them in the long run."
Read the full article at wallethub.com.
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