Thank you!
2007-05-15 21:02:44 · 12 answers · asked by NT 2 in Business & Finance ➔ Credit
I agree with those that say it will help the persons scores who has the bad credit. I also agree that applying as a co-signer should be done with caution.
I would never recommend anyone, even married people, apply for joint credit cards.
The best route to go is authorized user.
If the person needs help raising their scores so that they can qualify for credit on their own, add them as an authorized user to one, or more, of your cards. Make sure the card(s) you add them to have no late payments, low utilization and a long history.
After the cards start reporting, they should try to get a card on their own.
After they gain some history on their own card(s), over time start slowly removing them from your cards.
2007-05-15 22:32:07 · answer #1 · answered by echo 7 · 0⤊ 0⤋
yes you can. BUT DO NOT DO IT. The person can apply for a secured credit card from Bank of America or Orchard Bank. This way they pay a depost that is equal to the line of credit issued. After about a year of on time payments and such . Then can apply for a regular unsecured credit card and get the deposit back. My favorite source for information like this www.bankrate.com. They have things like rebuilding credit after bankruptcy, investments, how to buy a house, using credit wisely. And best of all the information is free,accurate,complete and helpful.
2007-05-15 21:36:56 · answer #2 · answered by last dragon 2 · 0⤊ 0⤋
I advise that you don't do it. Get your own credit card from a credit union at work or build enough credit integrity with your bank and ask if they offer credit for you.
As soon as you get credit card happy, you'll end up in a pile of debt. It is best to use cash or atm credit card instead. If you have to borrow money and end up paying a big bill in the future, you don't need it.
And applying for a credit card with a person with bad credit is like signing a death warrent to your financial stability. Don't do it.
2007-05-15 21:07:07 · answer #3 · answered by Agent319.007 6 · 0⤊ 0⤋
yes a person can apply for a credit card with another person who has bad credit. But there is another way that person could help the person with bad credit by getting a secured credit card for them this way its just a small amount and that person could pay you back .if you let the person with Bad credit be on your card it could ruin your credit and relationship and you may have a bill that you can not pay
2007-05-15 22:28:33 · answer #4 · answered by a252526z 1 · 0⤊ 0⤋
depends on your debt to credit ratio if your 2 cards maxed total say $500 and your new card has a limit of $1000 its not TOO bad. however the best thing to do is pay down the other 2 credit cards or before you know it youll have 3 maxed out cards and crappy credit
2016-04-01 03:43:43 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Yes and it will help build the other persons bad credit back up. But be careful, you will be responsible for that debt too and there is a reason they have bad credit!
2007-05-15 21:05:39 · answer #6 · answered by jacklyn_denise 3 · 0⤊ 0⤋
I think so, the person who is refering you must take the responsibility that you will be good to the bank. But why not you appy for a credit card? Its so easy these days. For More Information Please visit,
http://buyfreecreditcards.blogspot.com/
2007-05-17 14:40:51 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Yes im pretty sure you guys could. But just wondering why you would want to especially because its so easy to get one. Maybe get the card in your name & your partner a secondary card.
2007-05-15 21:13:04 · answer #8 · answered by danieltiger23 2 · 0⤊ 0⤋
yes,but becareful.If a person has bad cridit that can meen there not paying there bills.And if you dont pay the cridit card the person cosigning can be held reliable.
2007-05-15 21:09:30 · answer #9 · answered by bluejluv 2 · 0⤊ 0⤋
yeah
2007-05-15 21:05:01 · answer #10 · answered by Just Me 6 · 0⤊ 0⤋