While your child may have the best intentions for the credit card they ask you to co-sign, you'll want to be 100% confident that they'll use it responsibly.
3 questions to ask yourself before co-signing for your child
While your child may have the best intentions for the credit card they ask you to co-sign, you'll want to be 100% confident that they'll use it responsibly.

Thanks to a law called the Card Act, it’s hard for young people to get a credit card unless they have solid proof of income – or a co-signer. As a result, it is common for parents to be asked by their children – including students – to co-sign for a credit card.

If you are one of the many parents whose children are applying for this type of financial assistance, there are three key questions you need to ask yourself before moving forward.

By asking yourself each of these questions, you can make the choice that is right for you when it comes to co-signing, and I hope that neither you nor your child will regret the decision you have made.

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