Question

Why is a bank more likely to offer you credit if you have a co-signer with good credit?

Answer 1

Because if you default on the loan they will go after the co-signer for the balance due. Since the co-signer has good credit he won't want to ruin it and that will make him a good bet that he will pay back the loan.

Answer 2

Because it provides a guarantee that the loan will be paid.

Step-by-step explanation:

A co-signer is a person that signs with another person a loan in which accepts to make the payment if the borrower doesn't do it. A co-signer is requested when a person have a low credit score or doesn't have enough credit history and he/she have a good credit score which helps assure the bank that the money will be paid back.