@Kenny wrote:
@Anonymous wrote:
Really dumb question, but since I'm under 21, would I be able to put my parents investment accounts that I have access to? I don't have joint ownership, they're under their names, but they set it up so that my bank account is linked to it, so whenever I need to withdraw money its just an ACH payment from their Ameriprise account to my checking account. The wording was really vague, so I didn't want to risk putting down a 6-figure asset value and having them be like "uhhhh you're 18 how do you have that", but at the same time I didn't want to not have accurate information.
Absolutely not. Because, your parents wouldn't let you have blind access to it. Come on now.
Technically I do have blind access to it, actually. I just run a transaction by them and as long as it's okayed I'm free to withdraw the money. Could I withdraw its entire balance without running it by them and flee the country in some weird, morally corrupted alternate universe? Sure, I suppose so. Would I ever? Of course not. However, rather than asking for what my parents would/wouldn't let me do, I was simply looking for clarifaction in what is and is not acceptable to put down as my available assets given that I am not 21, but have my parents' "okay" to utilize their financial assets in other instances. :-)
Getting back on topic, I fail to see how providing a lender your available assets is of any use to them. As previously brought up, unless they FR you, how would they actually be able to verify the legitimacy of what's provided? People are hesitant enough to provide banking info when it comes to a FR, much less their other assets. While I guess I can see how this could be used to provide a lender with an image of your liquidity, thereby allowing them to grant you higher CL's since you've proven an increased capability to pay back your debts, I find it incredibly short sighted. Good on Discover for trying out something new, but it's a shame it had to be something so useless.
