ex; my dad gets a credit card with a $5000 line of credit using his ssn....then he tells the bank that he wants to give this card and the credit on it to me....???Can you do that??? I have bad credit and cant get a card on my own, so I thought of this idea.....
2006-12-19 07:17:44 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
Two options:
Both of you are on the account as financially responsible-- he's essentially "co-signing" for you.
OR
He adds you as an authorized user. About 75% of the time this means that it gets reported on your credit as well, which is a good thing. However you are not legally responsible for the debt you are incurring-- only he is-- so he has no reason to want to do this for you as its more risky..
2006-12-19 08:48:12 · answer #1 · answered by Anonymous · 0⤊ 0⤋
you won't be able to. stability transfers artwork by technique of the cardboard you move the steadiness to sending a charge to the cardboard you're shifting the steadiness from. That card will be conscious the charge to the modern stability less than the same guidelines as the different charge. As you've already got here across, which skill the 0.0% stability is payed first and the better cost stability keeps to strengthen till the decrease cost stability is paid off.
2016-11-27 20:26:14 · answer #2 · answered by Anonymous · 0⤊ 0⤋
There are issues that still provide credit cards for those with poor credit history. You can find a list of guaranteed credit cards here:
http://www.creditcarddeals.ws/guaranteed-credit-card-deals-01.htm
2006-12-22 20:05:14 · answer #3 · answered by Adriano 2 · 0⤊ 0⤋
No, the only way your name can be on the cc is if he adds you as an authorized user. I suggest you try a secured cc. A list is availalbe at http://www.bankrate.com/ under credit cards.
2006-12-19 07:39:02 · answer #4 · answered by Anonymous · 0⤊ 0⤋
No the applicant is always the contractually liable cardholder, he has the ability to add you as a co-signer but that is all. It would make no sense to get credit for someone else's record.
2006-12-20 03:20:19 · answer #5 · answered by Jeremy 4 · 0⤊ 0⤋
No. But he can get the card and give you a card, with the account still under his name.
2006-12-19 07:19:08 · answer #6 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋
he can add you as either an authorized user or as a co-applicant - both would establish your credit - but he would be still responsible for the debt.
2006-12-19 07:22:35 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I don't think so, but you can share a card under his account.
2006-12-19 07:21:03 · answer #8 · answered by Lowa 5 · 0⤊ 0⤋
No, but you can be an authorized user on his account.
2006-12-19 09:27:48 · answer #9 · answered by Mimi 6 · 0⤊ 0⤋