Quote:
Originally Posted by disneysteve
I understand that the cosigner can't add to the debt. What I'm wondering is if the cosigner's credit rating affects things. Isn't the whole point of a cosigner to grant the credit based on their rating since the actual applicant doesn't have a sufficient credit history to get the card on their own? If the cosigner's FICO drops, would that affect the account, raise the interest rate, lower the limit, etc?
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Only up front. At the time of co-signing. Not later on.
Not unless daughter defaults and Mother is asked to pay.... daughter could further affect mother... but mother cannot do anything to affect daughter if she were a co-signer. Daughter would also very easily be able to remove Mom from the account at a later time.