Min start CL for the Palladium

[sjt]

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@CS800 wrote:

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@Anonymous wrote:

i just got my palladium 2 days ago.  i was told the starting credit limit is 15k.  the card is awesome.  hurry and apply, the window is closing VERY rapidly.

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What window?

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I think the the qualifying criteria is about to change. I have heard that you will actually need to be a Chase Private Client or JP Morgan Private Bank Client.

[sjt]

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@swpopham wrote:
I just got off the phone with jp Morgan, you can call and verify but you HAVE to have a private bank status and liquid assets of 5M-25M with chase to talk about applying as of today

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You can also be a Chase Private Client. Minimum requirement is $250K.

[bribro]

It was for a prospective JPM PB client from France who had no credit history here in the U.S. For whatever reason the JPM credit analysts only gave him $10k, and that was after the PB put in a special request.

[Anonymous]

In my opinion the Centurion and Palladium cards are basically just a way for the credit card companies to say "You're Wealthy! Congratulations! Here is a card made out of metal! When and where would you like us to blow your nose for you!?". I mean I get it.. I understand they are trying to reach out to what they consider a "higher" demographic but in all honesty that’s all it is.. Just a glorified credit card.. If you are already wealthy enough to qualify for either of these cards then I doubt you'll need a credit card company to gain you "privileged" access to certain parts of an airport and 24/7 concierge.. But hey, this isAmerica and we all have the freedom to apply for and accept any offer we want to! There is nothing wrong with having any credit card in your wallet.. Just my opinion being written down for all to see haha

*disclaimer* I know my post had 100% nothing to do with the topic.. I just wanted to throw in my two cents lol

[bribro]

^ I certainly feel that way about the people who apply for a Palladium, AmEx Platinum, etc. when they do little to no travel. However, for those who fly a lot these types of cards can pay for themselves rather quickly.

[CS800]

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@bribro wrote:

^ I certainly feel that way about the people who apply for a Palladium, AmEx Platinum, etc. when they do little to no travel. However, for those who fly a lot these types of cards can pay for themselves rather quickly.

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I totally agree. These are great perks for travelling which I do a lot for work. The lounge services and concierge are out of this world.

[mxp114]

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@bribro wrote:

^ I certainly feel that way about the people who apply for a Palladium, AmEx Platinum, etc. when they do little to no travel. However, for those who fly a lot these types of cards can pay for themselves rather quickly.

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I think these travel perk cards are best for people that travel moderately. Those who are true frequent travelers already gain access to upgrades/perks via loyalty programs, etc. Also the truly afluent travelers don't need free upgrades because they are typically flying business/first and staying at the best rooms at the top hotels which always come with lounge and concierge services too.

[CS800]

MX that's true.

The palladium seesm to rival the Centurion Black from what I was told. Upgrades, perks etc. I have to read about the comparison to see.

[CreditScholar]

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@mxp114 wrote:

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@bribro wrote:

^ I certainly feel that way about the people who apply for a Palladium, AmEx Platinum, etc. when they do little to no travel. However, for those who fly a lot these types of cards can pay for themselves rather quickly.

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I think these travel perk cards are best for people that travel moderately. Those who are true frequent travelers already gain access to upgrades/perks via loyalty programs, etc. Also the truly afluent travelers don't need free upgrades because they are typically flying business/first and staying at the best rooms at the top hotels which always come with lounge and concierge services too.

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+1. This is right on-target.

They'd do quite well marketing this card to people making between 200-750k per year, with FICOs to match. While it's supposed to be a PB-only card, this is a market segment that is both lucrative and lacking serious competition.

Since people in this income bracket won't likely qualify for an Amex Centurion, as long as Chase makes the palladium superior to the Amex plat they'd be in good shape. With the devaluation of MR points and a general decline in the service/average client quality of Amex, I'm sure some cardholders could be convinced to switch if presented with the right product.

[Anonymous]

If I had liquid assets around 25M, I wouldn't be wasting my time reading fico forums during my lunch break!