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If you apply for a loan, but use a co-signer, do you still get credit from the loan?

 
munch12502

Asked by munch12502 at 12:20 PM on Mar. 24, 2009 in Money & Work

Level 1 (3 Credits)
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Answers (3)
  • Yes. It helps your credit score also, as long as your paying on time.
    mamaada

    Answer by mamaada at 12:24 PM on Mar. 24, 2009

  • and you also get bad credit if it doesn't get paid, both signer and co-signer are looked at the same cuz on a credit report it doesn't say your a co-signer it just has the debt
    crazybiotch

    Answer by crazybiotch at 12:34 PM on Mar. 24, 2009

  • Ok, Well we're good for the money up front. But I have no credit and Dh is saying that in order to build credit I have to get a loan in my name, he'll co sign but he wants to do a loan(even though we'll pay it off early) just so I can get an open line of credit and then show that I paid it off on time. It's purely a way for me to build credit.
    munch12502

    Answer by munch12502 at 12:38 PM on Mar. 24, 2009