Posts Tagged ‘ guarantor ’

Becoming a guarantor or joint account holder for son’s motorcycle loan

Dear Experian, I want to help my son, a recent graduate, build good credit. He wants to buy a used motorcycle. I was willing to guarantee the personal loan, but the bank wants me to be a joint borrower. If I agree, it is not clear to me whether my son's credit rating will improve as much as if I were just the guarantor. Which approach would produce the greatest benefit? Would being a joint borrower help my son's credit score at all? - HRC

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