Co-applicant for credit card?

Question

If I (great credit) get approved for a card and if i add my sister (no credit history-been denied a few times in 2 months) as a co-applicant, will they still do a credit check on her?

Answer 1

It depends on which company you're applying through. Many of them won't run her since you're the primary and are guaranteeing her performance.

Answer 2

I had a Visa, and good credit. I added an un-discharged bankrupt to my card with no difficulty. All the bank wants to know is that someone responsible will pay.
Except that the snake bit me after I carried it across the river. She said - after all, you knew I was a snake, and that is my nature.

So - beware? You are the one that ends up holding the bag.

I suggest you ask for two. one with a small limit that is joint. and another FROM A DIFFERENT ISSUER solely in your name. The problem of having two from the same issuer is that the responsibility could be blurred.

Just let her run the joint one as if it is her own and put only what you want to give away in to it. After a few years of good credit on that one - raise the limit a bit. She may also find she can get one independently.

Answer 3

Well, basically the co-application is guaranteeing the loan. You don't get any RIGHTS to the property, you only get to pay the loan back if/when she defaults. Yes, if the two of you get a loan together, they use the best credit rating. Unless you're going to a slimey car dealership, where they frequently use the WORST credit rating, to charge you the highest interest.

Answer 4

They >>>may<<< check her credit, but the fact that you are the primary holder and have great credit will outweigh her lack of credit.

Answer 5

yes, they will check her credit also.

Answer 6

I believe they do