• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

I make over $100k/yr; credit cards are BS

Page 3 - Seeking answers? Join the AnandTech community: where nearly half-a-million members share solutions and discuss the latest tech.
Capt Caveman said:
Also income tax, sales tax, utilities, gasoline, insurance, registration fees, etc... Higher labor costs, means food is going to be higher. And you're comparing an one bedroom apt to having roommates.
Click to expand...

All of that should be negligible. Having roommates is a major con but necessary one. So I fail to see how having higher income is worse than lower income. It's like saying Mexicans shouldn't move to the US for higher paying jobs because cost of living in the US is higher than in Mexico.

RossMAN said:
I feel so inadequate my highest cc limit is only $25k and I don't like fruit loops, more of a granola guy.
Click to expand...

$25k is only mini-barrier. All it takes is one issuer to give you higher than $25k limit and the rest will follow like lemmings. Banks don't want to lose your business. Soon you'll have $30k+ and $40k+ limits. $50k and above is tough as it's another barrier. To cross that barrier you need to provide the bank with documented income and proof of assets.
 
A few years ago the wife needed a steep increase to our credit limit. She might have charged as much as $15K a month that got paid back to her from her employer. I called them up and they said they needed proof of income, so I had to send them a copy of our W2s for a couple of years. They bumped me up to $25K and have slowly increased that since to $33K even though we seldom charge more than $5K in any one month these days. Now, the two other cards I use saw that and matched that cards credit limit even though I never asked for it.
 
funny I have more than 100K in revolving credit lines, typical utilization is in the low single digits. they must think you are a risk
 
ponyo said:
All of that should be negligible. Having roommates is a major con but necessary one. So I fail to see how having higher income is worse than lower income. It's like saying Mexicans shouldn't move to the US for higher paying jobs because cost of living in the US is higher than in Mexico.
Click to expand...

It's called comparing apples vs apples. And higher income taxes, higher sales taxes, higher food/living costs are negligible? Not sure if serious.
 
RichieZ said:
funny I have more than 100K in revolving credit lines, typical utilization is in the low single digits. they must think you are a risk
Click to expand...

i just got my mint free credit report yesterday and saw i'm at about 75$k right now. i honestly had no clue it was that high, i figured it was about 25$k total.

i never put more than about 500$-1500$ on those things a month. whatever's giving the best rewards.
 
ponyo said:
But if you rent with multiple people, your portion of rent can't be much more than renting single in other parts of the country. For example, it costs around $1,200 a month to rent a decent 1bd apartment in Atlanta suburb. I can't imagine it cost much more than $1,200-$1,500 a month in SF or West Coast for a place if you live with multiple roommates. Sure you have to live with roommates but housing costs should be comparable. Other than housing, I really don't see the big difference. Cars cost the same. I think if you're young and single, you would be foolish not to move to the West Coast and take advantage of the higher salary. You can save much more on higher income.
Click to expand...

Capt Caveman said:
Also income tax, sales tax, utilities, gasoline, insurance, registration fees, etc... Higher labor costs, means food is going to be higher. And you're comparing an one bedroom apt to having roommates.
Click to expand...

Yup - if I'm willing to get a roommate, then that Atlanta Suburb drops into the $600-700 dollar range.
 
Capt Caveman said:
It's called comparing apples vs apples. And higher income taxes, higher sales taxes, higher food/living costs are negligible? Not sure if serious.
Click to expand...

Higher income tax? So let's compare. I'll use Atlanta and compare it to San Francisco. You're going to pay the same Federal rate. The State income tax is the only difference and rate is 3.3% higher in California so that's extra $728 a year on $100k. Peanuts. San Francisco sales tax is 8.75%. Atlanta is 8%. Again, the difference is peanut. Higher food cost? Really? You're again talking peanuts. Some food items might be slightly more expensive. Some things cheaper. I bet you cost of Froot Loops is comparable. The only thing everyone can agree is substantially higher in San Fran compared to Atlanta is housing. But like I suggested, if you have roommates, you can reduce that cost to something similar to renting single one bedroom apartment in Atlanta.
 
ponyo said:
I bet you cost of Froot Loops is comparable.
Click to expand...

funny that you should mention...

Trident1.jpg
 
ponyo said:
Higher income tax? So let's compare. I'll use Atlanta and compare it to San Francisco. You're going to pay the same Federal rate. The State income tax is the only difference and rate is 3.3% higher in California so that's extra $728 a year on $100k. Peanuts. San Francisco sales tax is 8.75%. Atlanta is 8%. Again, the difference is peanut. Higher food cost? Really? You're again talking peanuts. Some food items might be slightly more expensive. Some things cheaper. I bet you cost of Froot Loops is comparable. The only thing everyone can agree is substantially higher in San Fran compared to Atlanta is housing. But like I suggested, if you have roommates, you can reduce that cost to something similar to renting single one bedroom apartment in Atlanta.
Click to expand...

Yawn. Add local county taxes, property taxes, higher insurance rates, higher utility costs/gasoline, food(land isn't cheap nor is labor), dining, registration fees, etc....

http://www.numbeo.com/cost-of-living/compare_cities.jsp?country1=United+States&city1=Atlanta,+GA&country2=United+States&city2=San+Francisco,+CA

Indices Difference
Consumer Prices in San Francisco, CA are 28.38% higher than in Atlanta, GA
Consumer Prices Including Rent in San Francisco, CA are 86.99% higher than in Atlanta, GA
Rent Prices in San Francisco, CA are 206.18% higher than in Atlanta, GA
Restaurant Prices in San Francisco, CA are 32.67% higher than in Atlanta, GA
Groceries Prices in San Francisco, CA are 38.89% higher than in Atlanta, GA
Local Purchasing Power in San Francisco, CA is 29.86% lower than in Atlanta, GA
Click to expand...

You would need around 7,853.62$ in San Francisco, CA to maintain the same standard of life that you can have with 4,200.00$ in Atlanta, GA (assuming you rent in both cities). This calculation uses our Cost of Living Plus Rent Index to compare cost of living. This assumes net earnings (after income tax). You can change the amount in this calculation.
Click to expand...
 
RossMAN said:
Everything/everyone has a price ...
Click to expand...

I'm picturing you pulling an Instant Pot out of a box behind a dark alley...pssst....hey kid, wanna cook a pork roast in half the time as your momma's slow cooker? I get these puppies from my dealer on Slickdeals...
 
Kaido said:
I'm picturing you pulling an Instant Pot out of a box behind a dark alley...pssst....hey kid, wanna cook a pork roast in half the time as your momma's slow cooker? I get these puppies from my dealer on Slickdeals...
Click to expand...

LOL you know me so well, very well.

Edit: Capt Caveman liked your post, just made my day 🙂
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top