Card type vs. Income

[Anonymous]

So, I've been debating whether or not to apply for a high-end card. However, I'm not entirely sure if it's appropriate given my income.

For example, the Citi Prestige is extremely attractive. But the AF is 500 dollars, nearly!

And, I am really liking the Amex Gold card. But, again, the AF is really high...

I make about 55k. Does the card type I SHOULD get, versus want, directly correlate with how much income I have? I don't wanna get something that's more appropriate for a person who makes upwards of 100k, or so... Been curious about this for a while. I have the CSP, Marriot Rewards Premier, and the Venture, now. But, the AFs on those don't seem so unmanagable, considering the great rewards structure. And, they aren't hundreds of dollars.

What do you guys think? What's your advice or experience?

[Anonymous]

Base the card on the actual need, are you a frequent traveler?

[Imperfectfuture]

Using an iPad, I can't see any of the pics of cards in your sig.

When it comes to AF cards, go with what is most beneficial at the time, my income is lower, so the 10k US Airways card is overkill, IMHO. And I saw tons of folks with varying degrees of travel cards on the plane, obviously going for rewards.

Do you want free travel? Then get, earn rewards and evaluate at end of year. Some folks get the free travel to compensate for lack of income (to travel).

[Anonymous]

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@Imperfectfuture wrote:
Using an iPad, I can't see any of the pics of cards in your sig.

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Neither on desktop. The signature exceeds maximum height.

[Anonymous]

Sorry about that, guys. I fixed it.

P.s. **Her

[Anonymous]

Lol my bad.
If your expense can justify the AF and you are able to take advantage of the benefits to make the AF worth it, then go for it. Prestige is a good card which I'm looking to get in a few months.

[kdm31091]

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@Anonymous wrote:

So, I've been debating whether or not to apply for a high-end card. However, I'm not entirely sure if it's appropriate given my income.

For example, the Citi Prestige is extremely attractive. But the AF is 500 dollars, nearly!

And, I am really liking the Amex Gold card. But, again, the AF is really high...

I make about 55k. Does the card type I SHOULD get, versus want, directly correlate with how much income I have? I don't wanna get something that's more appropriate for a person who makes upwards of 100k, or so... Been curious about this for a while. I have the CSP, Marriot Rewards Premier, and the Venture, now. But, the AFs on those don't seem so unmanagable, considering the great rewards structure. And, they aren't hundreds of dollars.

What do you guys think? What's your advice or experience?

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To me this is completely backwards as far as a way to look at it.

Do not approach it as "what card should I get based on my income?" Who cares what card you "should" get? It's a completely arbirtrary thing. You shouldn't get any card just because someone on a forum says you should.

Start with your wants and needs. What are you lacking in your portfolio? Then analyze how much you spend and on what. Then research which cards might fit the criteria and go from there. Don't worry about "which cards you should have". Go for what you actually want. You will find that most of the time, figuring out your spend and what you spend it on will lead you the right way and you won't end up with some crazy AF card that you cannot justify.

If you do the math, and can justify $450 AF and still make a reward "profit", go for it - but keep in mind that you might have to put most of your spend on the Prestige to justify it if you are "on the border" of justifying it, thus rendering some of your other cards perhaps less useful.

[Anonymous]

Oh I get all this. It's mostly to satiate my personal curiosity. I wasn't sure if there were certain cards I should probably avoid, based on whether or not my income range is suitable or appropriate for said card. There's gotta be cards that weren't meant for people in the lower income/average income bracket, no matter how great their credit is. Right?

[Anonymous]

55K....

Do you travel much? Work? Pleasure?
To some, 55K is a lot of money. Hell, thats a lot of money to me and our HHI is more than 2x that (not by much)

[jsucool76]

Income plays no role in which cards you think are best for your portfolio. As long as you're willing (and able) to pay the AF, and the benefits will work for you (and this prestige offer I think works for anyone) the signup bonus itself is worth more than the annual fee, and everything ontop of that is just free money. Same applies to most of the other cards in this price range (Ritz, Platinum and so on) 

You don't need to be a frequent traveler to make these cards work for you. You use these cards to work on BECOMING a more frequent traveler.

If you think $500 cash, or up to $800 in american airlines tickets is worth $450 then this card is for you. Consider all card annual fees as an investment in future travel. A travel savings account one might say.