Consumer Comeback Blog

Credit Score Glossary: Co-Signer

Co-Signer: A person who contractually promises to pay the debt of another borrower.

Co-signers are often requested for car loans or personal loans, and by landlords and realtors if a borrower is of a young age, does not have much credit, has poor credit, or low income. Before agreeing to be a co-signer, a person should take into consideration the account will show up on both the borrower’s and co-signer’s credit report. If the co-signer fails to repay an amount the borrower defaults on, it can negatively affect the co-signer’s credit score.