I have a good buddy of mine that is willing to lend me his credit (co-sign) a credit card for me so that i can rebuild my credit. What would be the easiest/best to get online approval for? is there a certain card i should stay away from? thanks.
Sounds like a good way to lose a friendship. LORD POLONIUS: Neither a borrower nor a lender be; For loan oft loses both itself and friend, And borrowing dulls the edge of husbandry. - Hamlet, William Shakespeare If he had the money, he would be safer lending it to you directly. If he doesn't have it, or if he doesn't feel safe lending it, he shouldn't be co-signing for it. You would both be better off if you joined a credit union and opened a (possibly secured) account there. If you needed to, and assuming he has a good credit history on one of his accounts, he could put you as an authorized user on one of his existing cards, keeping that physical card himself so that you never actually used it. Once you had established credit again, you would want to be OFF his card, to avoid risk of damaging your credit if he failed to pay.
Exactly what I was thinking. Become an AU but don't really have access to the account. Get the benefit of the history without the danger of ruining someone else's credit. All he has to do is call the credit card company and tell them he wants to add a user. Ask them to send the card to his address and he's set.
