0
Is it true you can improve your credit score dramatically by having someone with good credit add your name as a cosigner to one of their credit cards even if you never use it?
MalHayes
YES, THIS IS TRUE! IF YOU HAVE NEVER ESTABLISHED CREDIT HISTORY AND YOU ARE IN NEED OF A LOAN YOUR BEST BET IS TO BECOME A CO-SIGNER ON SOMEONE ELSE'S CREDIT CARDS TO ESTABLISH CREDIT HISTORY.
Wiki User
∙ 18y ago
Add your answer:
Earn +20 pts
If cosigner has a car loan already may she cosign for someone and be approved for that person and the cosigner has good credit?
Yes.
Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?
The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.
Does paying your car loan on time even with a cosigner help build your credit?
Yes. It will also improve the co-signer's credit too.
Can someone with bad credit co-sign with someone with good credit and get a card using the other person's good credit?
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.
If we have bad credit will a cosigner help us get a mortgage?
Yes, a person with bad credit can get a cosigner for a mortgage. The cosigner will have to have excellent credit and must go into the office to sign papers to become a cosigner.
If cosigner has a car loan already may she cosign for someone and be approved for that person and the cosigner has good credit?
Yes.
Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?
The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.
If you are a cosigner in someone's loan for a line of credit and he is at default what can the cosigner do to take his name back?
Nothing. The only option for being remove as a cosigner is to have the original loan refinanced without the cosigner participating.
Does paying your car loan on time even with a cosigner help build your credit?
Yes. It will also improve the co-signer's credit too.
Can someone with bad credit co-sign with someone with good credit and get a card using the other person's good credit?
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.
How can someone purchase a vehicle asap with really bad credit no money down and no cosigner?
== ==
If we have bad credit will a cosigner help us get a mortgage?
Yes, a person with bad credit can get a cosigner for a mortgage. The cosigner will have to have excellent credit and must go into the office to sign papers to become a cosigner.
What are the ways someone can improve his credit rating?
If someone wanted to improve their credit rating there are a variety of places where someone can do so. Some of these ways are for the individual to check their credit files.
If you own your car and it's in your name but the loan is in someone else's name with you as the cosigner will that still help your credit?
Yes, it will still help your credit.
Can I apply for a car loan with a credit score of 593?
This is a very poor credit score. You can apply but it is unlikely you will get a loan without a cosigner. If you are able to get a loan without a cosigner your interest rate will be very high as compare to someone with a good credit score of over 700.
Will a cosigner's credit history appear on your credit report?
No
How do you get a student loan with bad credit and no cosigner if your Stafford loans don't cover everything?
SOMEONE THATS HAS A JOB.
