Co-signer

GLOSSARY

Capital Capital / cash reserves Card holder agreement Cash advance Cash advance APR Cash advance fee Chapter 11 bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Charge card Charge-off Closing Costs Closing date Co-signed account Co-signer Collateral Collection account Collection agency Consolidation loan Consumer credit counseling service Consumer debt Consumer statement Convenience check Credit Credit Bureau Credit card Credit card issuer Credit Clinic Credit Counseling Credit file Credit fraud Credit history Credit limit Credit line Credit Repair Agency Credit repair company Credit Report Credit risk Credit Score Credit Union Creditor Creditworthiness

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A co-signer on a credit account or other type of loan agrees to share financial responsibility for the loan with the primary applicant, making it possible for a consumer with poor credit to qualify for a loan. In case of default by the primary applicant, the co-signer becomes responsible for repaying the debt.

Previous Term: Co-signed account
Next Term: Collateral

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