Chase Palladium how can apply ??

[Crashem]

Wow we have gotten really off topic.  Not sure if Palladium is currently invite from CPC or Private Bank.  They keep changing.  A lot of people got in through backdoor when it existed but I think it is long closed now.  Who cares at this point if XYZ banker was mean to you?  If your goal is to get Palladium, you should keep your eye on the prize.  If CPC can give out apps, then go find another Chase CPC banker and open an account.  They are a dime a dozen.  If it is only Private Bank that can, then either you can deposit the money needed to open PB account or not.  I think the backdoor of getting app without opening account is closed as well.

[09Lexie]

@ Crashem

You are correct the back door approach is closed. I just reconfirmed with mine.

If OP really wants to apply for a Palladium, it's through CPC whether he chooses that branch or another it is his choice.

[Crashem]

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@09Lexie wrote:
@ Crashem

You are correct the back door approach is closed. I just reconfirmed with mine.

If OP really wants to apply for a Palladium, it's through CPC whether he chooses that branch or another it is his choice.

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If it is a big branch, he doesn't even have to move branch.  He can just go to other CPC banker.  Personally, I think there is way too much paranoia here.  I think the reality of the situation currently is that only existing CPC or PB customers are eligible for Palladium.

There is no discrimination going on because there is nothing for them to discriminate on as they aren't making any decisions.  There is no "talking" the banker into accepting an application for you.  If the CPC banker made the OP feel bad or OP just didn't like the CPC's breath, then go to another CPC banker.  If he wants the card, he is going to need to open CPC or PB (if things have changed) account.  I'm sure there is a nearby Chase banker who would be happy to take his money and do it in a pleasant manner.

[bribro]

As of today, all you need to apply for the Palladium card is the endorsement of a JPMC banker (CPC, JPMPB, or JPMS).

When the Palladium card first came out, you needed a J.P. Morgan Private Bank or J.P. Morgan Securities account (generally, $5mm AUM minimum). Then the backdoor application fax number was "discovered" which allowed anyone to apply for the card directly. JPMC closed that loopehole eventually, but many slipped through the cracks and got the card with no relationship whatsoever. Then CPC came out, which caters to the middle and upper middle class with a $100k-$250k account minimum. Shortly after the creation of CPC, they allowed their clients to apply for the Palladium card too, which brings us to today.

[sjt]

I agree that the official word is that you need to be a CPC, JPMPB, or a securities client. Im sure there are back door ways of getting the card, ie a business/corporate relationship etc.

On a slightly different note, my friend is a relationship manager at JPMPB. She handles HNW ($5MM and above investible assets.) She told me that relationship managers/office directors used to be able to approve credit card applications but they recenly change that policy and they are now approved by the card center and there is a process for overrides.

[09Lexie]

@sjt

Priority Lending Services is the card center and I believe the form is something like CPC Consideration -

[bribro]

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@sjt wrote:

I agree that the official word is that you need to be a CPC, JPMPB, or a securities client. Im sure there are back door ways of getting the card, ie a business/corporate relationship etc.

On a slightly different note, my friend is a relationship manager at JPMPB. She handles HNW ($5MM and above investible assets.) She told me that relationship managers/office directors used to be able to approve credit card applications but they recenly change that policy and they are now approved by the card center and there is a process for overrides.

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By default, Palladium (and Select) applications are now underwritten like any other credit card application; your credit score has to be good enough, and you need sufficient income to justify your requested credit limit (you can ask for a specific amount when you apply, but the minimum is $15k). However, there are other ways to get approved outside of traditional underwriting, which is what your friend at the JPMPB-HNW is alluding to. HNW is the lower division of the JPMPB, the UHNW division has more even flexibility when it comes to getting exceptions.

[ezdoesit]

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@bribro wrote:

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@sjt wrote:

I agree that the official word is that you need to be a CPC, JPMPB, or a securities client. Im sure there are back door ways of getting the card, ie a business/corporate relationship etc.

On a slightly different note, my friend is a relationship manager at JPMPB. She handles HNW ($5MM and above investible assets.) She told me that relationship managers/office directors used to be able to approve credit card applications but they recenly change that policy and they are now approved by the card center and there is a process for overrides.

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By default, Palladium (and Select) applications are now underwritten like any other credit card application; your credit score has to be good enough, and you need sufficient income to justify your requested credit limit (you can ask for a specific amount when you apply, but the minimum is $15k). However, there are other ways to get approved outside of traditional underwriting, which is what your friend at the JPMPB-HNW is alluding to. HNW is the lower division of the JPMPB, the UHNW division has more even flexibility when it comes to getting exceptions.

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Other than the card being the best looking card on the market IMO.  Not that I have one or probably would ever qualify for one but its reward structure is not much better than the CSP minus the 400 af. Unless you spend a 100k to get the 35k bonus.  I guess for some just having the card would be good enough and worth having in there wallet and not be to concerned with the AF.  I guess the latter would apply to me also.   On pure dollars and sense perspective then CSP would be a better value with limited spend.

[sjt]

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@ezdoesit wrote:

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@bribro wrote:

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@sjt wrote:

I agree that the official word is that you need to be a CPC, JPMPB, or a securities client. Im sure there are back door ways of getting the card, ie a business/corporate relationship etc.

On a slightly different note, my friend is a relationship manager at JPMPB. She handles HNW ($5MM and above investible assets.) She told me that relationship managers/office directors used to be able to approve credit card applications but they recenly change that policy and they are now approved by the card center and there is a process for overrides.

---

By default, Palladium (and Select) applications are now underwritten like any other credit card application; your credit score has to be good enough, and you need sufficient income to justify your requested credit limit (you can ask for a specific amount when you apply, but the minimum is $15k). However, there are other ways to get approved outside of traditional underwriting, which is what your friend at the JPMPB-HNW is alluding to. HNW is the lower division of the JPMPB, the UHNW division has more even flexibility when it comes to getting exceptions.

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Other than the card being the best looking card on the market IMO.  Not that I have one or probably would ever qualify for one but its reward structure is not much better than the CSP minus the 400 af. Unless you spend a 100k to get the 35k bonus.  I guess for some just having the card would be good enough and worth having in there wallet and not be to concerned with the AF.  I guess the latter would apply to me also.   On pure dollars and sense perspective then CSP would be a better value with limited spend.

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They have some great travel perks and they can get you a free membership to United Red Carpet Club. Also they dont report to Credit Bureaus , which could be a perk.

[bribro]

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@ezdoesit wrote:

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@bribro wrote:

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@sjt wrote:

I agree that the official word is that you need to be a CPC, JPMPB, or a securities client. Im sure there are back door ways of getting the card, ie a business/corporate relationship etc.

On a slightly different note, my friend is a relationship manager at JPMPB. She handles HNW ($5MM and above investible assets.) She told me that relationship managers/office directors used to be able to approve credit card applications but they recenly change that policy and they are now approved by the card center and there is a process for overrides.

---

By default, Palladium (and Select) applications are now underwritten like any other credit card application; your credit score has to be good enough, and you need sufficient income to justify your requested credit limit (you can ask for a specific amount when you apply, but the minimum is $15k). However, there are other ways to get approved outside of traditional underwriting, which is what your friend at the JPMPB-HNW is alluding to. HNW is the lower division of the JPMPB, the UHNW division has more even flexibility when it comes to getting exceptions.

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Other than the card being the best looking card on the market IMO.  Not that I have one or probably would ever qualify for one but its reward structure is not much better than the CSP minus the 400 af. Unless you spend a 100k to get the 35k bonus.  I guess for some just having the card would be good enough and worth having in there wallet and not be to concerned with the AF.  I guess the latter would apply to me also.   On pure dollars and sense perspective then CSP would be a better value with limited spend.

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The Palladium card is not designed for people looking to optimize their rewards; it's primarily a perks card, just like the American Express Platinum and Centurion cards. The value, for me at least, comes from the complimentary hotel upgrades that I often receive, dinner reservations via JPM concierge at places that were supposedly booked, the full Lounge Club access, United Club membership, primary CDW, roadside assistance, and hidden tradeline. The fact that I will effectively earn 2.35x on travel with the Palladium (after hitting the $100k bonus) is gravy, since that makes it the best card to use on a UR-earning basis for that spending category.