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Cosigners take 100% responsibility of that debt. It is no different than if they went and took a loan out and gave you the money. If you choose not to pay then the Cosigner is stuck paying the debt. Most credit card companies will accept a cosigner as long as they know they will get their money one way or another. Cosigning for a small amount on a credit card such as $500 - $1,000 is a good way to help your children establish their credit rating and hopefully become more independent. Marcy
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∙ 18y ago
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Which credit cards let you have cosigners?
i have no idea
Does breaking a lease hurt cosigners credit?
That is why the cosigner is there. To back up the contract if you bail.
Can a cosigner have bad credit?
Generally speaking no. Cosigners are needed for a purpose, and most often it is because the primary debtors has bad credit.
What is the lowest a cosignee's credit score can be?
Most lenders prefer a cosigner to have a credit score of at least 620. However, cosigners with a credit score of 720 or above is always preferred.
What credit cards does the Bank of America offer?
Bank Of America offers many different credit cards. It offers cash rewards credit cards, points rewards credit cards, travel and airline rewards credit cards, lower interest rate credit cards, and build or rebuild credit cards.
Which credit cards let you have cosigners?
i have no idea
When your Father passed away how bad will a car repossession affect a cosigners credit?
It depends on how your father's death, the repossession, and the cosigners credit are corelated.
If the cosighner stops making payments on car loan but has the car and wont return it?
both owner cosigners credit will be affected both owner cosigners credit will be affected
Does breaking a lease hurt cosigners credit?
That is why the cosigner is there. To back up the contract if you bail.
Can a cosigner have bad credit?
Generally speaking no. Cosigners are needed for a purpose, and most often it is because the primary debtors has bad credit.
What is the lowest a cosignee's credit score can be?
Most lenders prefer a cosigner to have a credit score of at least 620. However, cosigners with a credit score of 720 or above is always preferred.
Can a cosigners credit get the car repossessed?
As long as the loan for the unit is paid each month, the collateral will never be repo'd.
What credit cards does the Bank of America offer?
Bank Of America offers many different credit cards. It offers cash rewards credit cards, points rewards credit cards, travel and airline rewards credit cards, lower interest rate credit cards, and build or rebuild credit cards.
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.
Who is charged for misusing credit cards?
People who misuse credit cards are charged for misusing credit cards.
What are airline credit cards and how are they different from regular credit cards?
Airline credit cards are credit cards issued by airlines. They have no real benefits over regular credit cards, apart from the fact that you can collect Air Miles with them.
When getting a loan with a cosigner does the credit check go off of the cosigners credit or the borrowers credit?
The credit of the primary borrower(s) and the cosigner(s) are equally affected (positively or negatively) and both are subject to the credit history check and evaluation.
