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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Credit for College Date:  1/11/2019  11:37 AM
Author:  aj485 Number:  312329 of 312650

Actually, since she has assets, she might not even need a co-signer.

If she has significant enough liquid assets (i.e., taxable accounts), then that may be possible, and from a parent's point of view that would certainly be preferable to having to co-sign. However, I suspect that the credit score with just one or two brand new low limit credit cards would be significantly lower than the credit score that also includes being an authorized user on a card with a higher limit and longer history. Plus, as already mentioned, new cards don't always report to the credit bureaus immediately.

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