No, you cannot apply for a Bank of America credit card with a cosigner. In fact, most major card issuers have stopped allowing cosigners on credit card applications. However, Bank of America does permit primary cardholders to add authorized users and joint cardholders, which are a bit different than cosigners.
Alternatives to applying for a Bank of America credit card with a cosigner:
Become an authorized user. An authorized user on a Bank of America credit card will be able to make purchases with the card and build credit. But only the primary cardholder is responsible for paying off the card balance.
Create a joint credit card account. Bank of America cardholders can also add another person to create a joint credit card account. That said, both applicants must qualify for the card, so Bank of America will review their credit history and personal information. If approved, the co-applicants will share equal responsibility for paying bills. Failure to make timely payments will hurt the credit scores of both people, too.
Apply for a secured credit card. You could consider applying for the BankAmericard® Secured Credit Card or one of the many other great secured cards currently available on the market. Secured cards offer better approval odds than most unsecured credit cards, so it’s less likely that you’ll need a cosigner to get approved.
Although Bank of America does not allow credit card co-signers, in some instances they may allow a guarantor. For instance, if a student applies for a BofA credit card and is denied, the bank might send out a guarantor letter. However, this is not guaranteed. Generally, a guarantor has the same financial obligation as the cardholder to pay the credit card bill.
No, Bank of America does not offer joint credit cards, which means applicants are not allowed to apply for a credit card with a second person and share responsibility for the account. As an alternative to joint credit cards, Bank of America offers the ability to add authorized users.
The biggest difference between an authorized user and a joint cardholder is that authorized users aren’t responsible for paying for any purchases. In addition, Bank of America will not check an authorized user’s credit when adding them to the account.… read full answer
With a joint credit card account, both applicants’ credit and financial profiles are considered during the application process. It’s very rare for credit card companies to offer joint credit card accounts these days, however, and Bank of America is not among those that do.
You can add a Bank of America authorized user either online or by phone at (800) 421-2110. All you need is the individual’s name, date of birth, Social Security number and phone number. There is no minimum age for a Bank of America authorized user, and all BofA cards have $0 annual fees for authorized users. … read full answer
When you add a Bank of America authorized user, they will receive their own credit card linked to your account. Any purchases they make will show up on your statement, and you are the one responsible for paying for those purchases.
Adding a Bank of America authorized user is a great way to help someone build or rebuild credit. All information about your account will appear on the user’s credit report. So, if you pay on time, their score will improve.
If you’re interested in adding a Bank of America authorized user, the process is pretty easy.
Here’s how to add a Bank of America authorized user online:
Sign in to your Bank of America account (or enroll with last 6 digits of your card number and full SSN).
Select your credit card from the page that displays your accounts.
Click the “Information and Services” tab.
Click “Add an authorized user” underneath the “Services” heading.
Enter the user’s full name, relationship to you and country of residence.
Type the user’s date of birth, Social Security number and primary phone number.
By default, your Bank of America authorized user’s credit card will be sent to your address. There is an option to change the mailing address at the top of the page. But before you add a Bank of America authorized user, make sure it’s someone you trust.
You can’t apply for a credit card with a cosigner. None of the 15 largest credit card issuers allow cosigners on your first application. However, if you apply for a credit card from Bank of America, U.S. Bank, or USAA and get rejected, you may be able to re-apply with a cosigner. The second time around, your cosigner’s information will be included on the application along with your own. This obviously delays getting a credit card, since you have to go through the application process twice. It’s also bad for your credit standing, because each time you apply for a credit card, there’s a credit inquiry that causes a temporary dip in your score.… read full answer
One alternative to getting a cosigner on your credit card application is to ask a family member to add you to their account as an authorized user. All major credit card companies allow authorized users, most with no minimum age requirement. Authorized users can get a card attached to the account in order to make purchases. They’ll also build credit if the primary accountholder pays the bills on time and doesn’t max out the card’s limit. But authorized users aren’t legally responsible for any payments. Adding an authorized user is simple and can usually be done online.
The other alternative to getting a credit card cosigner is applying for a lower-level credit card. Secured cards provide the highest approval odds, and some don’t even check your credit history when you apply. This is only an option if you’re at least 18 years old and have a bit of income, though.
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