Q&A Video: Cosigning With The Devil – Credit Card Horror Stories Vol. III

John Ulzheimer

John Ulzheimer | Q&A Videos

Aug 05, 2015

Cosigning is a dangerous move in the world of credit, as the hapless subject of our video found out to his misfortune. When you cosign for credit or a loan, you are taking on legal liability for that debt, which means that they’ll be coming after you if the primary account holder fails to pay.

Their activity, good or bad, will show up on your credit reports, potentially bringing your credit score way down. Learn what happened and how you can avoid these situations in our video with credit expert John Ulzheimer.

Was this helpful?

The Insider

Brendan Harkness
Platinum Card® from American Express Review: Is it worth the $550 annual fee?
Brendan Harkness | Sep 20, 2017

The Platinum Card from American Express provides a wide range of benefits and rewards, but is it worth the $550 annual fee?

Read More
John Ganotis
Is my credit card account open if I didn’t activate the card yet?
John Ganotis | Sep 18, 2017

Read More
Brendan Harkness
Review of the American Express® Premier Rewards Gold Card
Brendan Harkness | Sep 04, 2017

The Premier Rewards Gold and Gold Card from American Express are travel-focused charge cards, offering points and benefits. Is one right for you?

Read More