Can You get a co signer on a credit card just like with a car?

Question

Is that possible, and if it is does it work just like a car? Meaning it wont even help my credit but the person who co signs for it credit instead? Thanks

Answer 1

It's called a joint account and it shows up on both credit reports.

If you have a co-signer for a car loan, it also shows up on both credit reports The only way it wouldn't show up on your credit report would be if you are not on the loan at all and the loan is strictly in the "co-signer's" name.

Answer 2

You can get a cosigner for a credit card, although it is better if you do not. There are thousands of credit cards available to those with great, good, average, and even bad credit. You would get the good rating for the credit card if you were the main person on the account but if you defaulted on the credit card then both you and the cosigner would have the damage on your credit report. I suggest you look up some credit cards. Beware of the annual fees. They are charged just because you have the card- a big no, no! Also if you are stuck with a high interest rate card for 0 annual fee then that is cool. To avoid paying the interest rate on the card, pay the card off in full when the bill is due. Therefore, no interest. I have done this for several years and have made money off my credit card. For every $2500 I spend, they send me a $25 check. I am not paying interest so what I charge, I pay and then I am still rewarded! It is a sweet deal. Just be wise and read all the fine print.

Good Luck!