1. Liability: As the guarantor of the credit card, if the main card holder fails to fulfill the repayment obligation, the bank has the right to ask the guarantor to bear the repayment responsibility. The guarantor needs to bear the guarantee responsibility according to the contract, that is, repay the loan on time.
2. Credit damage: if the guarantor fails to repay the loan on time, the credit card will be overdue or in arrears, which will have a negative impact on the guarantor's personal credit record. The bank may include the guarantor in the credit information system and record the overdue records of the guarantor, which will adversely affect the guarantor's future applications for credit loans and credit cards.
3. Legal dispute: If the main card holder fails to repay the loan, the bank has the right to pursue the guarantor's responsibility by legal means. Banks can ask the guarantor to bear the corresponding repayment obligations through legal channels, and may recover the guarantor's guarantee responsibility through litigation and other means.
to sum up, the guarantor of the guaranteed credit card may bear the repayment responsibility, personal credit damage and face legal disputes if the main card holder does not repay. Therefore, the guarantee of credit cards needs careful consideration and ensures that the guarantor has the ability to repay on time.
Extended information:
1. The main responsibility of the credit card guarantor is to bear the repayment responsibility when the main card holder cannot fulfill the repayment obligation.
2. Guarantors can be relatives, friends, spouses or companies, but they need to have good credit and repayment ability.
3. The guarantor's credit record and personal credit score will also be affected, which may lead to the decrease of credit limit or the inability to apply for other loans.
4. The guarantee liability will be released after the main card holder finishes repayment or closes the credit card account.
5. Guaranteed credit card has certain risks. If you can't fully understand the repayment ability and habit of the main card holder, it is recommended to guarantee it carefully.
Please note that the above answers are for reference only. Please consult relevant financial institutions or legal professionals for details.