Will having a cosigner help you get a higher credit line?

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Will having a cosigner help you get a higher credit line?

Postby alanasaurus » Sun May 05, 2013 12:15 am

I have a credit score over 800 and am looking to get a Chase card with no interest for the first year. My question is what benefits would having a cosigner give me, possibly better rate, but I'm curious if I would get a higher limit on the card? My highest limit card is $2500 currently.

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Postby MemberSince99 » Sat May 18, 2013 8:13 am

I'm honestly not sure why you would need a co-signer with a score over 800. Unless they've had cards longer than dirt's been around and have an 850 score, what good would it do you?

Why not just apply for Slate if you want no interest, or whatever else you're interested in? I'm not really seeing that a co-signer is going to help you all that much but maybe I'm missing something.

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Postby im_mr_awesome » Sat May 18, 2013 12:29 pm

This depends on where you're getting the information of you having a score over 800. If it's an official EQ, EX, or TU score, then I'm with MemberSince99. There's no point in a cosigner unless you somehow have a 800+ score and you're under 21 or have no income. If you have no income (student or trust account, etc) then you might need a cosigner just to verify financial responsibility.

If you do have normal income and a real score above 800, you shouldn't have any issue getting a Visa Signature card, which starts at a $5k limit, I believe. Though with a score above 800, I'd go for a Barclaycard Ring and expect a high limit. Alternately, as has been said, you could apply for a Slate. I'd suggest trying out Discover it with 18 months 0% interest.
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