Can anyone explain the co applicant process

[senseidab]

I have a low 600 credit score at this time and I am applying for a mortgage. My brother has agreed to add me on his very good credit card account. I havethe following questions, perhaps someone can help me with.

Will they determine my approval for co applicant based on my credit history? or is it an automatic approval if the primary credit holder agrees to list me as a co applicant?

They said they will be sending all the bills to him and that I would have eaqual responsibility to pay.

In other words....if he does not pay the bill they will go after me.

What is the diffrence in respect to me being approved for co- applicant or authorized user?

I know this is a lot of questions..but I am in a panic state. Can someone please help! Thank you

[Anonymous]

Well they pretty nuch explained it to you. As a co-applicant, you would be equally responsible for paying the bill if for whatever reason your brother couldn't pay it.  I personally do not believe in co-signing.  As an Auth user, the account, if this is one that reports authorized users (some do some don't) The full account history would appear on your credit report without the lilability.               

These are easier to remove if the account goes bad whereas, the co-applicant account is your responsibility late pays and such are almost impossible to remove even if you have no knowledge of the late payment history.

[senseidab]

 As a co applicant with a bad credit score.will I still get approved?

or would it be easier to just bet authorized user status?

in any case will the entire history of that account be added to my credit report?

thanks so much

[yoreljm]

The downside letting someone add you as an authorized user is that the creditors can see that you are nothing but a lowly authorized user. They know that the account is not yours, and you that are merely leaching while not actually being responsible for the debt. It DOES help your credit score, but I think the creditors will know that you are trying to pull a fast one on them by letting someone add you to their account. Being a co-applicant would therefore look better since you are more responsible for any debt incurred.

[senseidab]

If I do get added on to the account...how long does it usually take to get the account added to the credit reports?   Im racing against time here..I'[m looking to close 6 weeks from now..any and all advise accepted   TY