Will my credit go up if I cosign with my husband (who has great credit) for a car?

Question

and are consistent with making the monthly payments?

My credit is not that great so I need my husband to cosign for me to get a car. If we make the payments on time each month, will my credit go up too or just his?

Thanks!!

Answer 1

Being a co-signer doesn't make your score go up. Having the car loan on your credit and having it paid for on time over time will. So yes it will go up "over time" if you pay the bill on time every time.

Answer 2

What you want to to be a co-borrower with your husband. That way it gets reported on both credit records. The alternate is to buy it in your name only with your husband as cosigner (guarantor).

Answer 3

Your credit score will go up gradually with a record of timely payments...don't expect an immediate increase in your credit score.....FYI: If you fall behind in your payments....you'll further damage your credit and you'll ruin your husbands credit.

Answer 4

It will show up on both of your credit reports. If you make all your payments on time, it will help your score. If you are late, it will hurt your husbands score.