Q: On a credit card application, can you include your spouse's income under household income? What about other people that live with you?
Here is something for the cosigner to be aware of: If any applicant defaults on a payment or the debt, any cosigner on the account assumes full responsibility. Similarly, any late payments affect not only the primary applicant, but any and all others jointly responsible for the debt. Late payments affect 33 percent of a person's credit score, so any late payment anytime, can have implications. But this is even more so when a debt is jointly owned, even if one of the signers had nothing to do with the purchase. In other words, cosigner beware!
- My ex-wife took her maiden name back. She has opened new credit cards with my last name and address on them but hasn't lived at my address for three years. What can I do?
- If I buy jewelry online with a credit card, is the purchase insured if the jewelry does not arrive?
- I would like to replace a few high APR cards with better rate cards, but I know that we are supposed to limit how many cards that we have and closing them is a bad idea. What should I do?
- Are Discover Card credit cards any good?
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- Which bank offers the best debit card?
- Why do you rate American Express credit requirements as "good credit" to secure a card? I thought to qualify for an American Express card you have to have excellent credit.
- Supposing you have a perfect credit score of 800 or better; which credit card offers the highest credit limits?