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Co-signer

Moderator Emerita

Re: Co-signer


Lexa wrote:
Just curious, is there such a thing as a co-signer on a credit card? like there are co-signers on car loans and mortages?

Don't go joint on a CC, though. There's a world of hurt waiting out there if you do.

Mortgages should be the only jointly held credit, as homes are protected in case of BK.
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Message 11 of 18
Senior Contributor

Re: Co-signer


haulingthescoreup wrote:

Lexa wrote:
Just curious, is there such a thing as a co-signer on a credit card? like there are co-signers on car loans and mortages?

Don't go joint on a CC, though. There's a world of hurt waiting out there if you do.

Mortgages should be the only jointly held credit, as homes are protected in case of BK.

Primary transportation (auto) is exempt as well, unless filing on the loan.  At least in TX.

 

 

Message Edited by txjohn on 08-25-2009 07:07 AM

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Message 12 of 18
Senior Contributor

Re: Co-signer

FL BK exemptions can be viewed here:

 

http://www.bankruptcyinformation.com/FL_exemp.htm

 

Auto provision not so generous as TX I think.

Message 13 of 18
New Member

Re: Co-signer

My student loans have been paid timely and in full..but AFTER they went to collections.  As a result, my credit is ruined.  At 33 years old, am I eligible to have a cosigner on a credit card?  Which ones accect applicants OVER age 21?  Will that establish credit for me?  Or only affect the cosigner??

Message 14 of 18
Established Contributor

Re: Consigner


plasticman wrote:

If I am not mistaken, under the new law, one can get a CC under age 21 without a consigner provided one can prove sufficient income via an employer.


This is the teen-celebrity clause so Justin Bieber can still get a Centurion Smiley Indifferent

 

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Message 15 of 18
Established Contributor

Re: Co-signer

Wow, this thread is more than 3years old.....lol NEEDING ADVICE, you may want to start a new thread with your question and you'll probably get more responses


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Message 16 of 18
Regular Contributor

Re: Co-signer

+1000 to Jlu
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Message 17 of 18
Highlighted
Contributor

Re: Co-signer


DI wrote:

Lexa wrote:
Just curious, is there such a thing as a co-signer on a credit card? like there are co-signers on car loans and mortages?

Yes, and matter of fact the new law require those under 21  to have a cosigner to get a credit card.


 

Only requirement to get a credit card under 21 (I am still under 21 and have more than 6 lines of credit), is that you can pay for it. (Maybe you have a job, or maybe you have a bunch of money saved up)

 

Which makes me wonder why credit cards are (or were ever) offered to anyone who doesn't have any means of paying it off...

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a JP Morgan Palladium card
Message 18 of 18