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Can someone with bad credit co-sign with someone with good credit and get a card using the other person's good credit?
Wiki User
∙ 8y ago
You've got that stated backward. The person with bad credit who needs a credit card would be the borrower. He has to find someone with good credit to be the cosigner. And the cosigner has to really trust the borrower because he is going to be responsible for repaying the card if (when) the borrower doesn't.
Wiki User
∙ 8y ago
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Can a minor cosign a loan with someone other than his or her legal guardian?
If you are a minor, you cannot LEGALLY cosign or sign any loan/contractual agreement.
What happens if you cosign a loan and the other person dies?
yes
If you cosign on a car and the other person files chapter 13 and is paying on the loan does the company have the right by law to ruin the cosigner's credit?
Each states bankruptcy Laws are different. But in most cases if you co-sign and the loans does not get paid your credit can go down the tubes also.
What if the cosigner has two car loans and a mortgage can they still cosign?
They could still cosign. It would mainly land on the bank to see if they would approve this person as a cosigner. More then likely they would if they have a mortgage as well as 2 other car loans that are up to date. This person probably has very good credit and all they'd need is a good amount of funds coming in to get approved.
If someone is in debit how often will the banks reduce their credit access?
If someone is in debit the bank can reduce their credit access several times, according to the credit amount and several other factors which can be different from bank to bank.
Can a minor cosign a loan with someone other than his or her legal guardian?
If you are a minor, you cannot LEGALLY cosign or sign any loan/contractual agreement.
How to pull someone else's credit report?
Unless you work for an attorney or someone who can legally pull other's reports, it is illegal and not easy to pull another persons credit report. You can't legally do so.
If you cosign an auto loan for someone and they refinance in one year and remove you from the loan how will that affect your credit assuming all payments are made on time?
The cosigner's credit isn't affected one ioto unless the person who was responsible for the loan payments defaulted, then and if the cosigner also defaulted. In other words, just being a cosigner does not affect ones credit ratings.
What happens if you cosign a loan and the other person dies?
yes
If you cosign on a car and the other person files chapter 13 and is paying on the loan does the company have the right by law to ruin the cosigner's credit?
Each states bankruptcy Laws are different. But in most cases if you co-sign and the loans does not get paid your credit can go down the tubes also.
What does cosign mean?
a cosigner is someone that also signs a note, meaning that if the original signer dose not pay the obligation the second signer or cosigner must pay. It means, if the person getting the loan does not pay it off, the cosigner is responsible for paying the loan off.
If you cosign a student loan for someone does it show up on your credit report?
Like any other debt you are responsible for, it can be reported to credit reporting agencies as a debt you owe. Owing money is and of itself is not necessarily bad, but remember that 1) creditors may look at how much debt you have in deciding whether or not to grant you credit, and 2) if the other borrower fails to pay, you have to pay yourself, or your failure to pay as agreed can also be reported. You can be released from the cosigner obligation if you have the original debtor consolidate the loans in only their name. Here is a site that can help consolidate the loans www.defaultms.com
What do you do you like someone?
You should have sex with them and if your mom disagres say it was the other persons falt.
What if the cosigner has two car loans and a mortgage can they still cosign?
They could still cosign. It would mainly land on the bank to see if they would approve this person as a cosigner. More then likely they would if they have a mortgage as well as 2 other car loans that are up to date. This person probably has very good credit and all they'd need is a good amount of funds coming in to get approved.
If someone is in debit how often will the banks reduce their credit access?
If someone is in debit the bank can reduce their credit access several times, according to the credit amount and several other factors which can be different from bank to bank.
Which credit card companies will allow someone with good credit to co-sign for a person with bad credit?
There is no way to answer this specifically. The persons involved would have to contact credit card issuers and ask about terms. It should be noted that cosigning anything affects the persons credit score and income ratio on their report. Credit card companies and banking institutions just love people like you! DON'T CO-SIGN! Once you put your name on that document you are responsible for that debt! You earned your good credit rating and the other person didn't so let them get themselves out of their own mess whether it be a family memeber, daughter, son, or friend. You will undoubtedly get stuck with this bill!
If you are not 18 yet and want to get a credit card could you get a guardian to cosign?
No, this is not possible. Legally, you have to enter a binding contract with a credit company, and even with a cosigner, no one under the age of 18 can legally enter into a contract. If you are emancipated, then you are considered a legal adult, and then that would be a different story. Other than that, this is not possible. -Jesse
