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Valued Contributor
Posts: 1,367
Registered: ‎04-20-2012
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Soft/Hard Credit Limits on JPM Palladium & Select Cards

For those that didn't know, the official policy of J.P. Morgan (as relayed to me by their VP of Card Services) is that Palladium card members can spend up to 3x their stated credit limit/credit access line. So, if you're approved for a $50k "limit," you can actually spend $150k without issue. Anything over that 3x limit automatically gets denied. For the J.P. Morgan Select card you can spend up to 2x the statement credit limit/credit access line.

 

For Chase-branded NPSL (i.e. Visa Signature and MasterCard World/World Elite) cards, the over-the-limit spending is determined on a case-by-case basis using algorithms, so it's different for everyone.

TU FICO: 800 (2/1/14) | CK Score: 802 (2/1/14) | CS Score: 805 (2/1/14)

J.P. Morgan Palladium ($250k) | AmEx Platinum (NPSL) | AmEx SPG Personal/Business ($50k/$50k) | Citi Executive AAdvantage WEMC ($50k) | Citi Dividend WEMC ($50k) | Chase Sapphire Preferred VS ($50k) | Chase Ink Bold WEMC ($50k Flex) | Chase Ink Plus WEMC ($25k) | Chase Freedom VS ($25k) | Chase Freedom WMC ($25k) | Chase MileagePlus Explorer ($25k) | Chase Southwest RR Plus Business/Personal ($15k/$15k) | Barclays US Airways ($25k) | Barclays Hawaiian Airlines ($25k) | BofA Alaska Airlines ($10k) | Lexus Financial Services ($30k) | Mercedes-Benz Financial Services ($50k)
Valued Contributor
Posts: 2,152
Registered: ‎09-16-2011
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Re: Soft/Hard Credit Limits on JPM Palladium & Select Cards

if i spent a 150k on any card I would be way over the WTH were you thinking limit, and would probably get and deserve a slap up side the head penality and DH would deffinetely take a high interest rate in my future spending for the next 90 days or longer. :smileyvery-happy:

 

 

 

Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 12k Sally Mae5k Sams Club MC 10k, Paypal Extras MC 6k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5k, Walmart 10k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 8.5k and a nice stack of store cards.
Last APP/HP 4/22/2015
Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
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Re: Soft/Hard Credit Limits on JPM Palladium & Select Cards

Bribe forgot to ask you. It's your 75k on palladium, your stated limit or 3x limit?

               LIMITS IN CARD DESCRIPTIONS
Valued Contributor
Posts: 1,367
Registered: ‎04-20-2012
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Re: Soft/Hard Credit Limits on JPM Palladium & Select Cards


Crashem wrote:

Bribe forgot to ask you. It's your 75k on palladium, your stated limit or 3x limit?


$75k is my "credit access line" so I can spend up to $225k, not that I would haha.

TU FICO: 800 (2/1/14) | CK Score: 802 (2/1/14) | CS Score: 805 (2/1/14)

J.P. Morgan Palladium ($250k) | AmEx Platinum (NPSL) | AmEx SPG Personal/Business ($50k/$50k) | Citi Executive AAdvantage WEMC ($50k) | Citi Dividend WEMC ($50k) | Chase Sapphire Preferred VS ($50k) | Chase Ink Bold WEMC ($50k Flex) | Chase Ink Plus WEMC ($25k) | Chase Freedom VS ($25k) | Chase Freedom WMC ($25k) | Chase MileagePlus Explorer ($25k) | Chase Southwest RR Plus Business/Personal ($15k/$15k) | Barclays US Airways ($25k) | Barclays Hawaiian Airlines ($25k) | BofA Alaska Airlines ($10k) | Lexus Financial Services ($30k) | Mercedes-Benz Financial Services ($50k)
Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
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Re: Soft/Hard Credit Limits on JPM Palladium & Select Cards

Nice bro!  If I remember correctly you are in SF, we should go crazy with the cards one night and have buyer's remorse the next day :smileyhappy:

               LIMITS IN CARD DESCRIPTIONS
Valued Contributor
Posts: 2,690
Registered: ‎09-26-2011
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Re: Soft/Hard Credit Limits on JPM Palladium & Select Cards


bribro wrote:

Crashem wrote:

Bribe forgot to ask you. It's your 75k on palladium, your stated limit or 3x limit?


$75k is my "credit access line" so I can spend up to $225k, not that I would haha.


Holy Cow.  You could by my house TWICE with that card...

 

Current Scores: EX: 615, TU08: 639, EQ: 607. 04/01/2015.

Zero percent financing is where the devil lives...
Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
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Re: Soft/Hard Credit Limits on JPM Palladium & Select Cards


tcbofade wrote:

bribro wrote:

Crashem wrote:

Bribe forgot to ask you. It's your 75k on palladium, your stated limit or 3x limit?


$75k is my "credit access line" so I can spend up to $225k, not that I would haha.


Holy Cow.  You could by my house TWICE with that card...

 


At the credit card's interest rate as low as it is, could we afford to make the payments?  Additionally, I don't think anyone wants us to charge back a house.  However, think of the points.

               LIMITS IN CARD DESCRIPTIONS
Valued Contributor
Posts: 1,367
Registered: ‎04-20-2012
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Re: Soft/Hard Credit Limits on JPM Palladium & Select Cards


Crashem wrote:

Nice bro!  If I remember correctly you are in SF, we should go crazy with the cards one night and have buyer's remorse the next day :smileyhappy:


Gah, I already did that this last weekend haha. Opening bottle service tabs is such a bad idea. Always close out after you reach your minimum!

TU FICO: 800 (2/1/14) | CK Score: 802 (2/1/14) | CS Score: 805 (2/1/14)

J.P. Morgan Palladium ($250k) | AmEx Platinum (NPSL) | AmEx SPG Personal/Business ($50k/$50k) | Citi Executive AAdvantage WEMC ($50k) | Citi Dividend WEMC ($50k) | Chase Sapphire Preferred VS ($50k) | Chase Ink Bold WEMC ($50k Flex) | Chase Ink Plus WEMC ($25k) | Chase Freedom VS ($25k) | Chase Freedom WMC ($25k) | Chase MileagePlus Explorer ($25k) | Chase Southwest RR Plus Business/Personal ($15k/$15k) | Barclays US Airways ($25k) | Barclays Hawaiian Airlines ($25k) | BofA Alaska Airlines ($10k) | Lexus Financial Services ($30k) | Mercedes-Benz Financial Services ($50k)
New Contributor
Posts: 184
Registered: ‎07-08-2012
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Re: Soft/Hard Credit Limits on JPM Palladium & Select Cards


tcbofade wrote:

bribro wrote:

Crashem wrote:

Bribe forgot to ask you. It's your 75k on palladium, your stated limit or 3x limit?


$75k is my "credit access line" so I can spend up to $225k, not that I would haha.


Holy Cow.  You could by my house TWICE with that card...

 


Wow, there are houses for $113K, I'm really living in the wrong city! Parking spaces in NY go for $100K.

Citi Thank You $13,200 - Chase Freedom $3,100 - AMEX Zync NPSL (init. ability $17.5K) - Citi Forward $7,000 - AMEX BCP $6,000 - USAA Rate Adv $15,000 - USAA World MC $12,000 - Discover More $4,000 - Amex Hilton Honors $4,500 - Amex SPG $2,000 - Barclay's Priceline Rewards $6,400 - Chase Sapphire Pref. $7,500

EQ: 794. TU: 704. EX: 755
Valued Contributor
Posts: 1,922
Registered: ‎06-21-2012
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Re: Soft/Hard Credit Limits on JPM Palladium & Select Cards


LilNYC wrote:

tcbofade wrote:

bribro wrote:

Crashem wrote:

Bribe forgot to ask you. It's your 75k on palladium, your stated limit or 3x limit?


$75k is my "credit access line" so I can spend up to $225k, not that I would haha.


Holy Cow.  You could by my house TWICE with that card...

 


Wow, there are houses for $113K, I'm really living in the wrong city! Parking spaces in NY go for $100K.


my first house in 2007 was $70k. Recently remodeled, .25ac yard, fenced, half brick/half siding, only 2 bedrooms & 1 bath. attatched garage with opener, new roof and new electric, central heat/air. Only 1.5 mi from campus.....so yeah, NY sucks.

| Walmart $5k | Amazon $5k | NFCU $20k | NLOC $15k | Lowes $17k | BoA $15k | Freedom $3k | IT $5.25k | CSP $5k | Marriott $5k | AMEX TE $18k | Alaska $5k |
Starting Scores: EQ:571 EX:??? TU:597
Current Scores: EQ:694 EX:714 TU:711
Goal Scores: 700
across the board
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