Co-Signer
A person who signs a loan application along with the primary borrower, agreeing to be equally responsible for repaying the debt if the primary borrower defaults. Both the borrower's and co-signer's credit reports and scores are affected by the account's payment history.
Related guides
- Full credit & FICO® glossary
Browse all defined terms by category.
- Authorized User
A person added to someone else's credit card account who can use the card but is not legally responsible for the debt. The primary cardholder's account history appears on the authorized user's credit report, which can improve the authorized user's score without them taking on legal liability.
- Default
Failure to repay a debt according to the terms of the loan agreement. Default triggers consequences depending on the loan type — collections activity, repossession, foreclosure, or wage garnishment. Defaulting on any loan severely damages your credit score.
Frequently Asked Questions About Co-Signer
What does Co-Signer mean?
A person who signs a loan application along with the primary borrower, agreeing to be equally responsible for repaying the debt if the primary borrower defaults. Both the borrower's and co-signer's credit reports and scores are affected by the account's payment history.
Is Co-Signer important for my FICO® score?
Understanding Co-Signer helps you manage your credit profile more effectively, which in turn supports a stronger FICO® score.