Question

If you co-sign for a friend's credit card, what is the danger to you if your friend fails to pay? A. You might get secured credit. B. You might have to pay extra money in taxes. C. Your credit score might go down. D. Your credit score might go up.

Answer 1

Answer:

The correct option is C

Explanation:

When the person who co- sign for a credit card of a friend, then the person will be in a danger of lowering its own credit score if the person's friend fails to pay for the payment.

Credit score is a expression in terms of numerics grounded on the level analysis of the credit files of the person and also represent the credit worthiness of the person. It is used by lenders for determining who qualifies for the loan and for credit limits.

Answer 2

Answer:

C. Your credit score might go down.

Explanation:

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