Credit Cards

[c3troop]

Can't find anything solid on previous posts. Main concern is annual income. Anyone know what they look for?

[trumpet-205]

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c3troop wrote:
Can't find anything solid on previous posts. Main concern is annual income. Anyone know what they look for?

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Quoted from CreditCardForum

The JPM Palladium Card doesn’t have a specific annual spending threshold you need to meet like the AmEx Centurion has, but rather it has an even tougher requirement… you need to have a private banker in order to qualify! It’s only offered to private banking clients of the JP Morgan Private Bank, Investment Bank, Treasury Services or Commercial Bank.

http://creditcardforum.com/blog/jp-morgan-palladium-card-benefits/

[MrShush]

They are also looking for willing individuals to plunk dow $595

Sorry, couldnt resist!

I think the private client deal isnt etched in stone though...

[c3troop]

I have read one other post that says you don't need to have a private banker. are they more concerned with annual income or investment portfolio

[CreditScholar]

They've changed and stiffened the requirements a lot over the last few months. Currently you need to have a relationship with CPC or PB. There were people who snuck via a backdoor, but they've closed that now. If you don't have 500k to become a CPC, and this is the minimum, then you can't get then palladium card. I thought about becoming a CPC, but concluded that's a lot of money to move over just for a credit card.

[trumpet-205]

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c3troop wrote:
I have read one other post that says you don't need to have a private banker. are they more concerned with annual income or investment portfolio

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Nope. You do need private banker.

Dear __________,

Thank you for contacting Chase about the Palladium Card.

I would like to inform you that the Palladium Card applications are currently only available through private banking. If they would like to apply for the Select card, this can be done online at chase.com. If they would like to apply with our assistance for Select card, you can pre-key the information given and e-mail or mail the pre-keyed JPMorgan Select Visa Signature Card Application to the potential client. If you chose to have it mailed, you will also need to provide a return address for the client to send the completed application and signature card. A return envelope with return address will also be sent with the application

J.P. Morgan Card Member Services
Attention: Priority Services DE2-4003
200 White Clay Center Drive, Floor 03
Newark, DE 19711-5466

In order for us to provide the most accurate response to your inquiry, please contact a Credit representative, Monday through Friday at 877-576-6109
between the hours of 8:00AM and 10:00 PM Eastern time.

http://www.flyertalk.com/forum/18655280-post664.html

[Crashem]

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c3troop wrote:
I have read one other post that says you don't need to have a private banker. are they more concerned with annual income or investment portfolio

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All apps have to be routed via private banker or private client. There have been several policy changes around this card application so ignore experiences before June or so. Basically need to be a client or convince one of above to forward app for you.

[CreditScholar]

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trumpet-205 wrote:

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c3troop wrote:
I have read one other post that says you don't need to have a private banker. are they more concerned with annual income or investment portfolio

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Nope. You do need private banker.

Dear __________,

Thank you for contacting Chase about the Palladium Card.

I would like to inform you that the Palladium Card applications are currently only available through private banking. If they would like to apply for the Select card, this can be done online at chase.com. If they would like to apply with our assistance for Select card, you can pre-key the information given and e-mail or mail the pre-keyed JPMorgan Select Visa Signature Card Application to the potential client. If you chose to have it mailed, you will also need to provide a return address for the client to send the completed application and signature card. A return envelope with return address will also be sent with the application

J.P. Morgan Card Member Services
Attention: Priority Services DE2-4003
200 White Clay Center Drive, Floor 03
Newark, DE 19711-5466

In order for us to provide the most accurate response to your inquiry, please contact a Credit representative, Monday through Friday at 877-576-6109
between the hours of 8:00AM and 10:00 PM Eastern time.

http://www.flyertalk.com/forum/18655280-post664.html

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+1. They started rigidly enforcing this when they found out that some people slipped through the cracks. These people weren't the ideal clients that then palladium card was intended for, so they altered the application process. The palladium card is primarily a product to strengthen a clients relationship with CPC or PB. If you don't have a large investment portfolio that you're willing to let them have, then this card won't be for you. In many ways, it's a fringe benefit for a larger private banking package.

[Crashem]

I think private client 250k or maybe even lower if you say you will build to that.

[trumpet-205]

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Crashem wrote:

I think private client 250k or maybe even lower if you say you will build to that.

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Some say it is $25 millions in the form of liquid asset.