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Most Prestigious (harder to get approved)

Super Contributor

Re: Most Prestigious (harder to get approved)

Also, you don't need to spend any specific amount of money, nor is there a net worth minimum, as posted by other posters in the other thread.

 

you just need 250k (or 350k) minimum average deposit, plus a chase private banker. I definitely am going to try for this card by end of this year.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 11 of 39
Established Contributor

Re: Most Prestigious (harder to get approved)


ezdoesit wrote:

i agree the J.P Morgan Palladium but you don't need to spend 250k like the centurion and the AF is i think 450.  The catch is you have to have a chase private banker and from reading posts on here those people tend to have a net worth 5-30 million.  I have heard both that is why the AF isn't as high because they are making money off of you in different ways.


Officially the number is $500,000 but if conditions are right you can get a private banker with less. I just met with my personal banker and investment manager today at my local branch and we were discussing my plans for the next couple of years. The investment guy mentioned he could lose me at $250,000 invested unless I don't want private banking services. I asked what he was talking about (nice guy, really good investment person) and he said that would be the private banking level in my area. Honestly I would have to drive about an hour to get to an office - so no. But I will take the card if offered Smiley Wink.

 

I will not make it there that soon as I have a real estate deal cooking and would rather own my buildings I work out of and pay zero rent while the other tenants pay the mortgage for me. Credit cards are cute but commercial property will make retiring before I am too old to enjoy it a reality. 

Message 12 of 39
Frequent Contributor

Re: Most Prestigious (harder to get approved)

As far as cards that don't require a significant spend or deposit in the bank:

Simmons

First Command Bank

 

and to a degree

US Cash+ (only because I've read multiple stories of people applying for it and instead receiving another downgraded card if they didn't meet the requirements)

 

800+ across all three (via FAKOs) has been achieved! Current goal - Get down to 6 cards in total - sitting with 8 currently.
Message 13 of 39
Established Contributor

Re: Most Prestigious (harder to get approved)

If you mean hard to get, then Simmons first or Iberia. If you mean most prestigious, centurion and palladium. If you exclude centurion, then you make the question meaningless. Those are the only two cards you can't get just by having good credit and a decent income. Heck, I have a csp and I'm not even tenure track. There may be some obscure cards offered by private banks that also qualify, but I don't know of any off hand.
In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.
Message 14 of 39
Super Contributor

Re: Most Prestigious (harder to get approved)


scenery_guy wrote:

ezdoesit wrote:

i agree the J.P Morgan Palladium but you don't need to spend 250k like the centurion and the AF is i think 450.  The catch is you have to have a chase private banker and from reading posts on here those people tend to have a net worth 5-30 million.  I have heard both that is why the AF isn't as high because they are making money off of you in different ways.


Officially the number is $500,000 but if conditions are right you can get a private banker with less. I just met with my personal banker and investment manager today at my local branch and we were discussing my plans for the next couple of years. The investment guy mentioned he could lose me at $250,000 invested unless I don't want private banking services. I asked what he was talking about (nice guy, really good investment person) and he said that would be the private banking level in my area. Honestly I would have to drive about an hour to get to an office - so no. But I will take the card if offered Smiley Wink.

 

I will not make it there that soon as I have a real estate deal cooking and would rather own my buildings I work out of and pay zero rent while the other tenants pay the mortgage for me. Credit cards are cute but commercial property will make retiring before I am too old to enjoy it a reality. 


i'm very interested in the card and i'm very confused. been too busy to drop by my branch in person even though i'm sitting in front of a computer almost 18hrs a day.

so do you mean i need to invest in something (such as with JP Morgan) to qualify for the card?

 

I can't just have 250-500k sitting in a checking / savings / CDO? Is it a daily average balance?

 

Do I have to go to a bigger branch or just any branch will do?

 

Thanks!

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 15 of 39
Valued Contributor

Re: Most Prestigious (harder to get approved)

There are other posts here with people with the palladium card.  i would read them to get a better idea of the criteria.  Someone else wrote and they were correct 250k for a private banker.  With that you probably won't get the Palladium.  As far as most prestigious I think that is up to the card holder I mean we don't wear our cards like a necklace for all to see.  If I had the net worth to get either card centurion or palladium I think I would show my prestige with the car I am driving or the watch I am wearing but that is just me.

Message 16 of 39
Contributor

Re: Most Prestigious (harder to get approved)


ezdoesit wrote:

There are other posts here with people with the palladium card.  i would read them to get a better idea of the criteria.  Someone else wrote and they were correct 250k for a private banker.  With that you probably won't get the Palladium.  As far as most prestigious I think that is up to the card holder I mean we don't wear our cards like a necklace for all to see.  If I had the net worth to get either card centurion or palladium I think I would show my prestige with the car I am driving or the watch I am wearing but that is just me.


clothes over watch Smiley Wink

Message 17 of 39
Valued Contributor

Re: Most Prestigious (harder to get approved)

Penfed?

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 18 of 39
Valued Contributor

Re: Most Prestigious (harder to get approved)


Cdnewmanpac wrote:
If you mean hard to get, then Simmons first or Iberia. If you mean most prestigious, centurion and palladium. If you exclude centurion, then you make the question meaningless. Those are the only two cards you can't get just by having good credit and a decent income. Heck, I have a csp and I'm not even tenure track. There may be some obscure cards offered by private banks that also qualify, but I don't know of any off hand.

+1. Aside from the palladium and centurion, nothing is really that exclusive. Simmons First and Iberia are difficult, but I wouldn't exactly say that they are prestigious in the same way the other two are.

 

The only other ones I can think of are the Goldman Sachs and Morgan Stanley co-branded Amex platinums. Both require a banking relationship with them, but they're closer in benefits to the standard Amex platinum with a couple of extra perks than the centurion.

 

From my perspective: for something to be prestigious and exclusive, it has to be something I can't get with my current credit scores and income. I know I can apply for virtually anything online and get instant approval, so that takes away some of the exclusivity factor for me personally. I know everyone's situation is different.

 

Anyone who does the right things for long enough can build up a high FICO, and then you simply need to add a high income. There are plenty of people out there with 775-800+ FICOs and high incomes, so to be truly exclusive you should need more than that. Being exclusive by definition means to exclude, and not enough people would be excluded if those were the only two criteria involved (income and FICOs).

EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 19 of 39
Established Contributor

Re: Most Prestigious (harder to get approved)

I have the JPM Palladium .pdf app and its a plain-vanilla app like any other card, but its true now that these can only be submitted to a private banker ?

About $215,000 total credit among 11 cards
Message 20 of 39