RIVERWOODS, Ill.—Consumers applying for their first credit card may find it a little harder these days to get their plastic.
A report from MarketWatch indicates that fewer issuers are allowing new credit card applicants to apply for a card with the help of a cosigner. Discover, the news outlet reported, is the latest to make the move.
For those with existing Discover accounts, there is no change. But last month the company stopped the practice, a spokesman for Discover told MarketWatch.
A number of other banks and card issuers had already discontinued the practice, Chase stopped allowing cosigners for new applications in 2013. Wells Fargo, BofA and U.S. Bank still allow it, MarketWatch reported.