"If your parent has good credit, cosigning on your first card with them is a quicker way to access loans or cards that you wouldn’t be able to get right away on your own," Brainard says. "There are a few layers of risk to be aware of as well, like the fact that financial misbehavior by either party will be reflected in both of your scores. The social risk is that card misuse can cause strain to your relationships over the long-term," he adds. "All risks should be weighed carefully before cosigning on any debt or credit accounts."