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Posts: 2
Registered: ‎06-15-2022
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Can I cosign for a store credit card for my daughter?

My daughter (22) has zero credit and works a part time job. She wants to buy a new TV and receiver (about $1,500 total). She was turned down for an Amazon credit card recently due to lack of credit and we were wondering if BB even allows cosigners any more on credit apps? We figured we could start building her credit and get a nice TV for her (2 birds, 1 stone). In case it matters, my credit score is in the 850'ish range.

 

 

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Registered: ‎11-10-2008

Re: Can I cosign for a store credit card for my daughter?

The credit card allows authorized users but your daughter would need to apply for the card to build her own credit. 

 

You don't want too many inquiries as it can hurt your score even more.

 

If you can spot the money up front for your daughter, I would suggest going to a bank or credit union and applying for a secure credit card for her in the amount you want to finance and then having her use it at Best Buy to purchase the items she needs and then use online bill pay to build her credit score. 

 

There are lots of secure cards out there without any annual fees you just have to look for it. Also, last I checked.banks allow additional cards for users but only your credit would be built, not hers. 

Best Buy Forums Super User since 2008. Please note I am not employed by Best Buy and I answer questions on my own time. If you find something helpful please add kudos to it. Should something solve your issue please remember to mark inquiries as solved.
New Member
Posts: 2
Registered: ‎06-15-2022

Re: Can I cosign for a store credit card for my daughter?

Thanks for the information!
Posts: 11,234
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Registered: ‎11-10-2008

Re: Can I cosign for a store credit card for my daughter?

You are welcome. Your daughter could then have the credit card in her name and almost any bank says yes to a secure deposit even with little or no history. She even has the opportunity to turn the card into an unsecure one after a year or two depending on the evaluation of the card by the bank. 

Best Buy Forums Super User since 2008. Please note I am not employed by Best Buy and I answer questions on my own time. If you find something helpful please add kudos to it. Should something solve your issue please remember to mark inquiries as solved.