
Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Updated
When you have poor or no credit history, applying for a credit card with a cosigner may sound like a good idea. It can help give you access to credit card options you otherwise wouldn’t have.
But having a cosigner is a big responsibility because if you don’t pay your balance on time, your cosigner will be liable. Also, note that not every bank accepts cosigners to begin with.
A credit card cosigner is a person who guarantees they will pay the credit card debt if the primary cardholder fails to do so.
The main difference between a cosigner and an authorized user is who pays the credit card debt if the primary cardholder defaults. Other differences include:
Cosigner | Authorized user |
---|---|
Liable for the credit card debt | Not liable for the credit card debt |
Doesn’t get a physical card | Gets a physical card |
Doesn’t have credit card account access | Has credit card account access |
Most large credit card issuers don’t allow cosigners. Luckily, some do.
American Express | ![]() |
Chase | ![]() |
Citi | ![]() |
Capital One | ![]() |
Barclaycard | ![]() |
U.S. Bank | ![]() |
Wells Fargo | ![]() |
Bank of America | ![]() |
USAA | ![]() |
Applying for a credit card with a cosigner makes sense if you:
But before you decide to apply with a cosigner, consider the benefits and drawbacks.
If you can’t apply for a credit card because of poor or no credit score, applying for a credit card with a cosigner could be one option.
However, a better alternative to build your credit is to become an authorized user to someone else’s credit card account or to apply for a secured card and build your credit yourself.
The Best TD Bank credit cards are solid, but nothing special.
Here are our picks for the top travel cards on the market.
Shopify merchants may be able to get funding without a credit check.
Here are our picks for the best store cards of the year.
Our picks for the best no-annual-fee cards.
Dashers can get instant access to earnings, plus 2% cash back at gas stations with this prepaid card.
You need to be a member to access this credit union’s high interest rate options.
Current Revolut users can get a free prepaid card for their kids between the ages of 12 and 17.
Air Canada anticipates launching the new credit card and also joining Chase’s lineup of travel partners in 2021.
Ways to protect your assets and what you need to know about marital debt.