Cosigning a credit card allows another person to obtain a credit card if that person was unable to acquire the card on his own because of an insufficient or poor credit history. It also helps that person repair or build his credit history. Cosigners agree to pay credit card debt if the card holder defaults. This means the cosigner assumes all responsibility for the debt, and her credit report and credit score can be damaged if the card holder doesn't pay debts on time. Cosigners must prove they have steady income and high credit scores for the credit card to be issued.
Gather four weeks of pay stubs and a copy of your most recent tax return. If you are self-employed, the lender wants two years of financial documents, such as profit and loss statements, as well as two years of tax returns.
Meet with the borrower to fill out the application. Most credit credit card applications are completed online or over the phone, but you may have to fill out a paper application for some cards. Occasionally, the card issuer requires in-person applications.
Fill out the cosigner's section of the application if you are applying online or with a paper application. Provide information such as your full name and address, previous addresses from the past two years, Social Security number, date of birth, annual income and money owed to other debts, such as student loans, a mortgage or a car. If you are completing the application over the phone, the representative will ask you questions pertaining to these topics.
Type your name and the date at the end of an online application to sign it electronically. Sign and date a paper application and mail to the address provided on the application. Phone applications do not require a signature because you provide your verbal consent to the application before the representative submits it.
Wait one to 10 business days to receive notice of approval or denial of the application. Some online and phone applications can give you an answer immediately after you submit them.