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LizzyBit401

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Whats better for rebuilding credit, a secured card in my own name or having a co-signer?
To help rebuild credit, I'll need to start with a credit card. I'm finding it very difficult to find a company that offers co-signers so another option is the secured credit card. I'm not sure which option will be more help.

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Top Contributor
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You're better off with the secured card

For what its worth; 

There aren't "cosigners" on credit cards per se.  You would have to be a "signer" on someone elses account.  
Weather thats a new account or an existing account the the other persons name makes no difference.  Be aware that their credit will be tied to yours and if their credit takes a turn for the worse, it WILL be reflected on your report. Same goes for the other person if your credit goes bad again.  

If the other person is willing to take that risk and you feel confident that they can uphold their end of the bargin (i.e you will pay your share every month and they understand that if you don't they are financially responsible with no recourse) then go for it.  

Personally.  My credit was been ruined in just kind of situation, so I won't take that risk.  A secured card is the best way for you to start building Your credit solely on your own actions and in your own control.  

 Good luck 

Top Contributor
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Forget about the cosigner idea. Get yourself a Secured card in your own name. Capital One and OpenSky may be places to look. Make sure to spend as much time as you can reading all that you can about credit, the knowledge will give you a better future.

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Secured Credit Card is the only Option for you.

Never have anyone Co-sign for you and NEVER Co-Sign for anyone else Never Ever.

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