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Targeting the Chase Palladium Card

Frequent Contributor

Targeting the Chase Palladium Card

Hello all,

 

Ever since hearing of the Palladium, I've set it to be my 'goal' card.  

 

I've had a relationship with Chase for many years in the form of a car loan back in '04 which have since been paid.  In '07 I started with their Chase Freedom at $1800 CL and I have not asked for a credit limit increase and have only applied for one other card which has also been a few years ago.

 

Just a few days ago, I've upgraded my Freedom to a Sapphire Preferred card and upped the CL to $5k with instant approval.  I've also applied for a Ritz card, also instantly approved at $11k.

 

I'm an authorized user on my dad's Freedom card that he never uses so I've got my bases covered with point earnings on food/groceries/gas between the Freedom and Sapphire cards, and the Ritz as my benefits/perks card (I usually stay with Marriotts but the gold elite status was a nice plus)

 


My question is - I've just received an inviation for the AMEX Platinum card.  Should I apply for it?  I'm looking to maximize my current 3 cards and talk to a JPM CSR about the Palladium in 6-7months time.  I'm curious if having the Platinum card help leverage me.  Another scenario is that I am willing to convert my Ritz into the Palladium as my primary benefits/perks card, if that would help any.

 

According to freecreditreport.com my EXP is 732

 

I would appreciate any/all help as I am just recently opening my eyes to the credit card world.  My debit cards earned great points and is what I used primarily for day-to-day spending but recently it has declined in value.

 

 

EDIT: I feel my score will go up pretty fast as currently I'm using 4300/6000 of my bank's LOC and I also maxed out my Paypal credit line 2500/2500(couldn't help the promos Smiley Happy ).  Those are expected to be paid in full by Feb/March.


LOC:        Biz:AU:AAoA: 6.5 yrs;EQ 749, TU 746, EX 727
100 REPLIES
Valued Contributor

Re: Targeting the Chase Palladium Card

If you can utilize the Platinum then sure get it. The only way to get the palladium is to have a crap load of money in there personal client accounts and then have one of your bankers put an app in for you. So id say no, the plat isn't going to help you get it

 

Also, the score you provided is not a real FICO

CHASE FREEDOM | AMEX BCE | | BOFA REWARDS | CITI TYP | Quicksilver | DISCOVER IT | Sallie Mae | CHASE CSP
--------$32,000-------------$30,000-----------$30,000-----------$30,000-----$13,000---------$18,200----------$15,000---------$6,500----

FICO - TU: 780 EX: 784 EQ: 781
Established Contributor

Re: Targeting the Chase Palladium Card

you have $30million in the bank? good for you if you do! Smiley Tongue

Amex PRG: NPSL | Amex Blue Cash Everyday: $15,300 | Navy FCU Cash Rewards: $19,500 | Chase Marriott Rewards: $7,500
Chase Freedom: $5000 | Discover It: $5000 | Barclays Extra Points: $5000
23 year old building credit since age 17. FICO: 783
NPSL
Super Contributor

Re: Targeting the Chase Palladium Card


ianGP wrote:

Hello all,

 

Ever since hearing of the Palladium, I've set it to be my 'goal' card.  

 

I've had a relationship with Chase for many years in the form of a car loan back in '04 which have since been paid.  In '07 I started with their Chase Freedom at $1800 CL and I have not asked for a credit limit increase and have only applied for one other card which has also been a few years ago.

 

Just a few days ago, I've upgraded my Freedom to a Sapphire Preferred card and upped the CL to $5k with instant approval.  I've also applied for a Ritz card, also instantly approved at $11k.

 

I'm an authorized user on my dad's Freedom card that he never uses so I've got my bases covered with point earnings on food/groceries/gas between the Freedom and Sapphire cards, and the Ritz as my benefits/perks card (I usually stay with Marriotts but the gold elite status was a nice plus)

 


My question is - I've just received an inviation for the AMEX Platinum card.  Should I apply for it?  I'm looking to maximize my current 3 cards and talk to a JPM CSR about the Palladium in 6-7months time.  I'm curious if having the Platinum card help leverage me.  Another scenario is that I am willing to convert my Ritz into the Palladium as my primary benefits/perks card, if that would help any.

 

According to freecreditreport.com my EXP is 732

 

I would appreciate any/all help as I am just recently opening my eyes to the credit card world.  My debit cards earned great points and is what I used primarily for day-to-day spending but recently it has declined in value.

 

 

EDIT: I feel my score will go up pretty fast as currently I'm using 4300/6000 of my bank's LOC and I also maxed out my Paypal credit line 2500/2500(couldn't help the promos Smiley Happy ).  Those are expected to be paid in full by Feb/March.


That EXP score is junk. Get a score off this site for the real picture.

 

Palladium is one of those "want" cards for me as well.

One day.

EX FICO  16 INQ  791
EQ FICO  10 INQ  786
TU FICO  12 INQ  790
Total CL$477,00038 TL
Senior Contributor

Re: Targeting the Chase Palladium Card

Not sure that your AMEX Platinum is going to produce any wonders for the Palladium but it's a start.  You need to be a CPC and be endorsed by your PB to determine whether JPM would entertain offering this card.  Minimum CL is $15K plus having the experience managing those credit lines.  IIRC, although not sure if this is still current, minimum invested assets for CPC is $250,000 (this can vary but subject to review by JPM).

Frequent Contributor

Re: Targeting the Chase Palladium Card

haha I wish I had that much!  What of the stories of others being approved without a CPC or CPB? (or a checking/savings acct)

 

 

@Nixon - thanks for the tip!


LOC:        Biz:AU:AAoA: 6.5 yrs;EQ 749, TU 746, EX 727
Established Contributor

Re: Targeting the Chase Palladium Card

Do you have the minimum of 250k in assets with the bank and spend 100k annually to get the bonus points?

EQ04 675, EQ08 676, EX08 719, TU08 703 $12704.75/$123050 Revolving Credit (All 0% or 1.99%) - In Garden Since 5/25/2016

Last negative item should fall off in July 2017.
Super Contributor

Re: Targeting the Chase Palladium Card


FinStar wrote:

Not sure that your AMEX Platinum is going to produce any wonders for the Palladium but it's a start.  You need to be a CPC and be endorsed by your PB to determine whether JPM would entertain offering this card.  Minimum CL is $15K plus having the experience managing those credit lines.  IIRC, although not sure if this is still current, minimum invested assets for CPC is $250,000 (this can vary but subject to review by JPM).


Or make friends with your local banker. Smiley Happy

EX FICO  16 INQ  791
EQ FICO  10 INQ  786
TU FICO  12 INQ  790
Total CL$477,00038 TL
Senior Contributor

Re: Targeting the Chase Palladium Card


ianGP wrote:

haha I wish I had that much!  What of the stories of others being approved without a CPC or CPB? (or a checking/savings acct)

 

 

@Nixon - thanks for the tip!


What stories?   You need CPC/PB endorsment.  Not sure how some folks may get around that these days.

Super Contributor

Re: Targeting the Chase Palladium Card


ianGP wrote:

haha I wish I had that much!  What of the stories of others being approved without a CPC or CPB? (or a checking/savings acct)

 

 

@Nixon - thanks for the tip!


There was a period where this was possible, but by all accounts that loophole has been firmly closed.  Now all apps have to submitted through the private bankers.

 

Also, this probably won't change your mind, but those on here with the Palladium don't seem to particularly like it, and its perks have been cut.