Query: What is easy-access credit?
Context: Easy access credit generally refers to short-term loans with higher interest rates. Payday loans and other short-term loans are often considered an option for individuals who need access to money quickly or don't qualify for other types of credit.
This type of credit differs from instant approval credit cards, which typically require meeting an issuer's credit requirements. Instant approval cards often provide additional benefits for consumers, like fraud protection and credit score monitoring.