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In Business / High School | 2025-07-03

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.

Asked by uriel41

Answer (2)

Co-signing for a friend's credit card exposes you to the risk of negatively impacting your credit score if they fail to make payments. If your friend defaults, the missed payments will be reported on your credit report as well. Thus, the best answer is that your credit score might go down. ;

Answered by GinnyAnswer | 2025-07-03

Co-signing for a friend's credit card can significantly impact your financial responsibility, especially if they fail to pay. The best answer to the question is C, as your credit score might go down due to missed payments. This happens because, as a co-signer, you share the responsibility for the debt.
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Answered by Anonymous | 2025-07-04

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