Best Bad Credit Cards With A Cosigner

Best Bad Credit Cards With A Cosigner

May 19, 2015         Written By Jason Steele

When you have bad credit, it can be really hard to receive a new card. One option is to apply for a secured card, but these always require a costly security deposit. On the other hand, there are also sub-prime cards, but these will have less competitive rates and fees than most credit cards.

Another alternative is to apply for a card that allows you to add a co-signer. By adding a trusting spouse, friend, or relative to the application, you can be approved for virtually any card that your co-signer would qualify for. Just be sure to remember that you and your co-signer will then be equally responsible for the repayment of any charges. Also, not every credit card issuer offers applicants the option of a co-signer.

Here are four of the best credit cards for people with bad credit who can use a co-signer:

Discover it Miles

The Discover it Miles card offers 1.5 miles per dollar spent on all purchases, and each mile is worth one cent as a statement credit toward travel expenses such as airfare, hotels, car rentals, and cruises. Or, cardholders can redeem their miles for one cent each as cash back. In addition, Discover will double the miles that cardholders earn during their first year of cardmembership, so those purchases have a remarkable 3% return! Cardholders also receive 12 months of 0% APR financing on new purchases. Other benefits of this card include numerous travel insurance and purchase protection policies such as extended product warranty coverage, price protection, and return guarantee insurance. Finally, Discover is also offing a $30 statement credit towards in flight Wifi charges each year. There is no annual fee for this card.

Discover It with 18 months of 0% APR financing on balance transfers

This Discover it card excels in many different areas. As a balance transfer card, account holders can enjoy 18 months of interest free financing on any balance transferred, with a 3% balance transfer fee. Cardholders also receive 5% cash back on up to $1,500 spent each quarter on select categories of featured merchants, and 1% cash back on all other purchases. Discover cardholders also receive a free FICO score each month online and on their statements. The Discover card is widely recognized for its customer service, and it promises that all calls will be answered by 100% U.S. based representatives.

There is no penalty interest rate for this card, and cardholders will automatically receive their first late payment fee waived. There is no annual fee for this card, and no foreign transaction fees imposed on transactions processed outside of the United States.

Simmons Bank Visa Platinum

Simmons Bank is a smaller card issuer that both allows co-signers and offers cardholders very low interest rates. The Simmons Visa Platinum card has an ultra-low standard APR of 7.25%, and a cash advance APR of 11.25%. Other benefits include Travel accident insurance, rental car coverage, and emergency card replacement. There are no balance transfer fees for this card, and no annual fees.

U.S. Bank Perks+ Visa  Signature card

U.S. Bank is a major retail bank that also allows applicants to include a co-signer. Its Perks+ Visa  Signature card offers 12 months of interest free financing on both new purchases and balance transfers, with a 3% balance transfer fee. Cardholders also earn double points on gas and groceries and one point per dollar spent elsewhere. Points can be redeemed for merchandise, gift cards, cash back, or airline ticket purchases on over 150 different carriers with no blackout dates. There is no annual fee for this card.

The information contained within this article was accurate as of May 19, 2015. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and may be compensated if you take action with any of our affiliate partners.


About Jason Steele

Jason Steele is a freelance journalist and an expert on the credit card industry. He contributes to several of the top personal finance sites, and his work is syndicated to mainstream outlets such as MSN Money, Yahoo! Finance, and Business Insider.
View all posts by Jason Steele
Top Features : All credit types welcome to apply!
Top Features : Reports to all three credit bureaus, perfect credit not required for approval
Top Features : Reports to major credit bureaus; initial credit limit of $400; fast application process with results in seconds
Top Features : Less than perfect credit is okay; account history reported to the 3 major credit bureaus
Top Features : Monthly reporting to the three major credit bureaus
Horizon Gold
  Apply Now
Top Features : Instant $500 Credit Line*