Any CC's offer a co-signing option?

[CleverCynic]

I could swear you used to be able to do this years ago but I've not seen the option in any apps that I've tried.

Does anyone know if there is a credit card you can get that allows you to have a co-signer in order to qualify for it? This would be different than a joint account where both people have to meet the qualifications.

I'm thinking it would be a good solution for husb/wife solutions where one person's credit is much better.

Student cards? Anything?

[ShortBus]

It's my understanding that "co-signer" and "joint account" are really the same thing. It's a common misconception that a co-signer is second in line should a creditor come calling.

A kid out of high school might get his parents to co-sign for a car loan since he doesn't have any credit history. If the kid defaults, the creditor would most likely pursue the parents the hardest, not because they're more legally responsible for the debit, but because they have a better chance of collecting from someone with greater assets. However both parties are equally liable for the debt, both can be sued, and both receive black marks on their CR.

[CleverCynic]

Thanks for trying to answer. As a student I definitely know the ins outs and risks of co-signing.

But with respect to credit cards, usually in the situation of a co-signer, the term implies that the original requester doesn't meet qualifications as in a car loan or home or a student loan. But in credit cards they wan't both people to qualifiy individually for the card in order to have a joint account.. so it's not the same as co-signing in the way that I'm using the term. I've tried to add my wife as a joint cardholder on a simple department store card, they said she didn't meet the credit criteria.

It seems senseless because they would have nothing to lose by adding another responsible party to an account that already exists!

So really, I'm looking to see if there are any credit cards that will issue an account with a classic cosigner in the conventional sense.

[whocares]

Someone who has a card and can use the card even if they do not qualify? And the AU can make payments too.

[CleverCynic]

By that standard the intended teen-age owner of the car would only be an authorized user of the vehicle and it would not be registered and insured in their name.

Let me clarify. The account would be joint, both would be responsible for the payment, and both would be guaranteed to have it report meaningfully on credit reports... except, one of the users would not have qualified for the card without the other.

Is there anything like that out there?

[ShortBus]

My father (with a FICO in the nosebleed seats) has agreed to try and help me boost my credit. He called AMEX and they told him that they don't have any such thing as joint/co-signer accounts so he declined to open an account with them. However he called a bank offering a MC with a rewards program and they said that we could open a joint account, but that both of us have to be on the phone at the same time. I might go and visit my parents this weekend, so I'll let you know how it goes. I'm curious to see if they'd decline both of us because of my credit.