Cosigned Credit Cards

[amdforever2]

Do they truly exist?

As in, could my uncle "cosign" a credit card for me and:

Set a credit limit, such as $300 since he probably won't wanna cosign $5000 of spending power for me.
Have the card automatically start benefiting my credit the day I turn 18.
Have his obligations lifted the day I turn 18 provided the account is in good standing.
Not have a card issued in his name, just be on the account.

If they do, who provides them?

 

[Dragnov]

I know the exist 100% sure. Don't know about the other issues though.

 

[Sensor]

To the extent of my knowledge, all major credit cards offer them.

On credit applications, there's usually a section for "alternate card user". I believe your parent can put your name there, and then it's a card that you can use. I'm not sure about setting a credit limit. I'm not sure about having the card become "yours" when you turn 18. I do know that it appears on your credit report, even before you're 18, noting that you are an "Authorized Cardholder".

 

[HappyPuppy]

Nothing personal, but I wouldn't "cosign" a credit card even for my fairy god mother. The only person who has a legal obligation under such conditions is the co signer.