Vision Credit Education, Inc.

Your Nonprofit Credit Counseling Organization

Co-applicant

Definition

A co-applicant is an individual or business entity that requests credit in conjunction with another applicant.

Analysis

As is true with an applicant, a co-applicant:

  1. Is legally liable for the debt
  2. Is evaluated for creditworthiness
  3. Retains joint control over the account
  4. May receive a corresponding item on their credit report

A co-applicant should not be confused with an authorized user.