Question about co-signing.

[anybodii]

Cosigning doesn't mean it will report. It depends on the bank. I've co signed for an auto loan and it never reported ( local bank ) ( I've seen all three reports since then ). Of course it would report if there was a late payment or repo, but I wasn't dinged with having debt or a new account.

[bobkmn]

Thank you very much. You are the first user to actually answer the question I asked. However, this is a major brand car dealer so I am fairly sure that whoever they check with, it will probably be reported. From what I can see, they checked with 3 lenders. Understand what you are saying. A year or so ago when I cosigned for my son's lease it wasn't reported. Just a local landlord.

Thank you again.

[anybodii]

No problem. As for credit cards I'd app before you cosign, discover it isn't too hard to get especially with your fico though. If you don't it still isn't a big deal I opened 5 new accounts at once and with inquiries and new accounts my fico went from 750 to 720 so I'm sure the ding would be minor. As an fyi I opened a new car loan a year ago and they only "negative" thing to be said was I had an open loan that was fairly new. It didn't cause problems with approvals it was just listed on my free fico from discover. ( the loan also reports as a personal loan not auto loan so that may be part of it )