Visa Sig cards have diff Concierge services?

[eddie84]

Cool!  So all I need is a measly $250k?  Let me fetch my change pocket then.

[longtimelurker]

---

@eddie84 wrote:

Cool!  So all I need is a measly $250k?  Let me fetch my change pocket then.

---

But as CS said, over enough time, someone with an upper-middle class income can save that.  Especially if you sell a house to downsize (or move to a cheaper region).  So it's not out of reach to some of the masses, whereas the personal Centurion isn't attainable for most.

[KhuKhu]

I guess we're all OT here but I have a $450,000 (only 50K paid so far) mortgage, does that count as an asset to be a CPC? or only 50K is the asset?

[09Lexie]

@KhuKhu

Afaik, they are looking at investments, deposit accounts etc.

[bribro]

---

@KhuKhu wrote:

I guess we're all OT here but I have a $450,000 (only 50K paid so far) mortgage, does that count as an asset to be a CPC? or only 50K is the asset?

---

No, liabilities do not count. The CPC minimum is $250k in assets, which includes investments and banking deposits (checking/savings/CDs). Depending on your CPC banker, you may be able to open a CPC relationship with just $100k if you reasonably expect to add the remaining $150k to get to the $250k minimum within 1 year.

And yes, you only need a CPC relationship in order to qualify for the Palladium card. A J.P. Morgan relationship used to be required, but they opened the card to the masses via CPC about a year ago. Interestingly, the J.P. Morgan Select card now requires a J.P. Morgan relationship (CPC isn't sufficient), which technically makes that card harder to obtain than the Palladium card today.

[nyancat]

---

@eddie84 wrote:

Well, according to creditcardforum.com the requirements are pretty stiff (link):

"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.

If you’re thinking about becoming a Private Bank client, good luck with that. According to Barron’s, the average client has $30 million at their bank! For this reason, the J.P. Morgan Palladium Card annual fee is only $595… that’s nothing considering the value of the metal alone is greater than that (card is minted out of palladium and 23k gold and laser engraved with cardholder info).

Or perhaps that's an old info and Chase have loosen the requirements since then?  Anyhoo, I don't think I can afford my own private banker.

---

I'm pretty sure it's actually MOSTLY copper. Sorry to say