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Valued Contributor
afbar1114
Posts: 2,177
Registered: ‎01-09-2012

Re: chase cards....


CreditScholar wrote:

afbar1114 wrote:

CreditScholar wrote:

enharu wrote:

you have to be specifically a client of JP Morgan, not just Chase, from what I know.

If you're a client you can talk to your advisor about how to get the card. I don't have it nor do I have an account with JP, so I can't really tell you what the specific requirements are. Hopefully someone else can clarify this for u.

 

 


Bribro summed it up quite well in another post, but essentially it's this:

 

CPC begins at 250k

PB-HNW is 5M+

PB-UHNW is 25M+


ill be there when i hit the lottery tonight lol....so if you see me with a palladium card youll know i hit the lottery. :smileylol:




I honestly don't think 250k for CPC is as difficult to get as it sounds to many people. You definitely don't need to win the lottery for it. Any middle-aged professional with a 6 figure salary (or close) and decent money-management skills can get there eventually. At that point it just takes time.

 

For those earning an average salary (say 50k), they'll probably never get there since virtually all of their income will be spent and therefore there will be very little leftover to invest.


i agree but i was saying ill be in the PB-UHNW is 25M+ when i hit the lottery. i would like to get to a six figure salary but it will be years be for that ever happens


In my wallet: AMEX Gold; Freedom $1.5k; CSP $5k; Chase United $5k; Discover $2k
Last HP: 4/30
Valued Contributor
CreditScholar
Posts: 2,300
Registered: ‎01-22-2012

Re: chase cards....

[ Edited ]

afbar1114 wrote:

CreditScholar wrote:

afbar1114 wrote:

CreditScholar wrote:

enharu wrote:

you have to be specifically a client of JP Morgan, not just Chase, from what I know.

If you're a client you can talk to your advisor about how to get the card. I don't have it nor do I have an account with JP, so I can't really tell you what the specific requirements are. Hopefully someone else can clarify this for u.

 

 


Bribro summed it up quite well in another post, but essentially it's this:

 

CPC begins at 250k

PB-HNW is 5M+

PB-UHNW is 25M+


ill be there when i hit the lottery tonight lol....so if you see me with a palladium card youll know i hit the lottery. :smileylol:




I honestly don't think 250k for CPC is as difficult to get as it sounds to many people. You definitely don't need to win the lottery for it. Any middle-aged professional with a 6 figure salary (or close) and decent money-management skills can get there eventually. At that point it just takes time.

 

For those earning an average salary (say 50k), they'll probably never get there since virtually all of their income will be spent and therefore there will be very little leftover to invest.


i agree but i was saying ill be in the PB-UHNW is 25M+ when i hit the lottery. i would like to get to a six figure salary but it will be years be for that ever happens


You could move here. :smileyhappy:

 

I was chatting with the tow truck driver the last time my car got towed. Apparently he makes 85k a year. I thought that was crazy.

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Valued Contributor
vish1
Posts: 1,129
Registered: ‎01-20-2011

Re: chase cards....

I was watching a show on netflix and they mentioned that the crane operators at harbors (essentially the crane operators loading/unloading containers in ships) get paid about 200,000 a year.

Amex PRG | BoA Cash rewards 35K | BoA Cash rewards 7K | Citi AAdvantage 15 K | Chase Sapphire Preferred 11 K | Chase Freedom 10k | Chase United 5 K | Chase Southwest 5K | Chase Airtran 6.4K | Discover IT 8K | Barclays US Airways 7.8 K | DCU 3 K | US Bank Flex Perks 8K | Toys r US 6 K | JC Penney 4.6 K | Macy's 1200 | Kohl's 600
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Valued Contributor
afbar1114
Posts: 2,177
Registered: ‎01-09-2012

Re: chase cards....


vish1 wrote:

I was watching a show on netflix and they mentioned that the crane operators at harbors (essentially the crane operators loading/unloading containers in ships) get paid about 200,000 a year.


i think that is a very skilled job and maybe thats ywhy


In my wallet: AMEX Gold; Freedom $1.5k; CSP $5k; Chase United $5k; Discover $2k
Last HP: 4/30
Regular Contributor
TM82
Posts: 198
Registered: ‎05-31-2011

Re: chase cards....

The JPMorgan Select card while more exclusive than the CSP, isn't a better card by any means. The reward structure is worse, the bonus spend requirement is $100k, etc.

The only real things going for it are
-EMV chip
- Hidden trade line

It's a business decision why it's not readily available. The benefits are costly to maintain and it almost seemed like a loss leader to get clients interested in additional services. Probably 90% of common clients who use CC's could care less.

The stable of cards that Chase has right now is fine, they don't need to add another high AF card, they have 2 of those already. They have airline partners, hotel partners, a BT card, a general cash back card, etc.

Adding more benefits, even if that means charging a higher AF has to make business sense and apparently right now it doesn't. If you're a shoemaker and you can sell 10,000 units of a $50 but can only sell 100 units of a $500 shoe, you'd be stupid to waste time and resources trying to make something more expensive if there's not a market for it.
My Cards
American Express Blue | American Express Premier Rewards Gold | Chase Amazon | Chase Freedom | Chase Sapphire Preferred | Chase United Explorer | Chase United MileagePlus Club | JPMorgan Palladium

Valued Contributor
afbar1114
Posts: 2,177
Registered: ‎01-09-2012

Re: chase cards....


TM82 wrote:
The JPMorgan Select card while more exclusive than the CSP, isn't a better card by any means. The reward structure is worse, the bonus spend requirement is $100k, etc.

The only real things going for it are
-EMV chip
- Hidden trade line

It's a business decision why it's not readily available. The benefits are costly to maintain and it almost seemed like a loss leader to get clients interested in additional services. Probably 90% of common clients who use CC's could care less.

The stable of cards that Chase has right now is fine, they don't need to add another high AF card, they have 2 of those already. They have airline partners, hotel partners, a BT card, a general cash back card, etc.

Adding more benefits, even if that means charging a higher AF has to make business sense and apparently right now it doesn't. If you're a shoemaker and you can sell 10,000 units of a $50 but can only sell 100 units of a $500 shoe, you'd be stupid to waste time and resources trying to make something more expensive if there's not a market for it.

trust me i know how business work and all. it was just me thinking and getting thoughts from others. i under stand if something looses money it doesnt make sense to keep it .


In my wallet: AMEX Gold; Freedom $1.5k; CSP $5k; Chase United $5k; Discover $2k
Last HP: 4/30
Valued Contributor
thom02099
Posts: 1,317
Registered: ‎08-30-2011

Re: chase cards....

[ Edited ]

TM82 wrote:
The JPMorgan Select card while more exclusive than the CSP, isn't a better card by any means. The reward structure is worse, the bonus spend requirement is $100k, etc.

The only real things going for it are
-EMV chip
- Hidden trade line

It's a business decision why it's not readily available. The benefits are costly to maintain and it almost seemed like a loss leader to get clients interested in additional services. Probably 90% of common clients who use CC's could care less.

The stable of cards that Chase has right now is fine, they don't need to add another high AF card, they have 2 of those already. They have airline partners, hotel partners, a BT card, a general cash back card, etc.

Adding more benefits, even if that means charging a higher AF has to make business sense and apparently right now it doesn't. If you're a shoemaker and you can sell 10,000 units of a $50 but can only sell 100 units of a $500 shoe, you'd be stupid to waste time and resources trying to make something more expensive if there's not a market for it.

+1.  I think, all things considered, Chase has the best stable of ponies!  Their product line is diverse, though they generally cater to higher end requirements and scores. 

 

I'm doing the Happy Dance, since I was able to get in with JP Morgan Select when I did! 

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Valued Contributor
vish1
Posts: 1,129
Registered: ‎01-20-2011

Re: chase cards....


afbar1114 wrote:

vish1 wrote:

I was watching a show on netflix and they mentioned that the crane operators at harbors (essentially the crane operators loading/unloading containers in ships) get paid about 200,000 a year.


i think that is a very skilled job and maybe thats ywhy


It sure is skilled and they have to get containers loaded / unloaded in about 2 mins each, which is quite some work. My point is that crane operator will not automatically pop up in my mind as a VERY high paying job.

Amex PRG | BoA Cash rewards 35K | BoA Cash rewards 7K | Citi AAdvantage 15 K | Chase Sapphire Preferred 11 K | Chase Freedom 10k | Chase United 5 K | Chase Southwest 5K | Chase Airtran 6.4K | Discover IT 8K | Barclays US Airways 7.8 K | DCU 3 K | US Bank Flex Perks 8K | Toys r US 6 K | JC Penney 4.6 K | Macy's 1200 | Kohl's 600
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TX Fico: 773 (Discover)
Valued Contributor
bribro
Posts: 1,367
Registered: ‎04-20-2012

Re: chase cards....


TM82 wrote:
The JPMorgan Select card while more exclusive than the CSP, isn't a better card by any means. The reward structure is worse, the bonus spend requirement is $100k, etc.

The only real things going for it are
-EMV chip
- Hidden trade line

It's a business decision why it's not readily available. The benefits are costly to maintain and it almost seemed like a loss leader to get clients interested in additional services. Probably 90% of common clients who use CC's could care less.

The stable of cards that Chase has right now is fine, they don't need to add another high AF card, they have 2 of those already. They have airline partners, hotel partners, a BT card, a general cash back card, etc.

Adding more benefits, even if that means charging a higher AF has to make business sense and apparently right now it doesn't. If you're a shoemaker and you can sell 10,000 units of a $50 but can only sell 100 units of a $500 shoe, you'd be stupid to waste time and resources trying to make something more expensive if there's not a market for it.

The JPM Select card isn't necessarily better or worse than the CSP, it's just different. Some of the advantages of JPM Select over CSP are:

 

  • Hidden trade line (does not report to CRAs)
  • EMV chip & signature
  • Primary rental car CDW
  • No late or over limit fees
  • 25k points bonus after $100k yearly spend (so a 1.25% UR earning rate if you spend exactly $100k)

 

And the disavantages are:

  • Weaker rewards (2x airfare, hotel, and car rentals vs. 2x on ALL travel and food with CSP)
  • No 7% annual points dividend
  • No sign-up bonus (currently 40k points with CSP)
  • Plain plastic credit card

They did not make the JPM Select card more exclusive because it's a loss leader or for economic reasons, they made the Select more exclusive because of issues they had related to fraud, compounded by low demand for the card at CPC. The decision to take the Select card away from CPC makes sense since the CSP is usually a better fit for their target client demographic, and it keeps the Chase branding more uniform.

 

The JPM Select and Palladium card are truly designed for wealthy people who don't really care about missing out on the 2x bonus at restaurants. JPM advisors also like the Select and Palladium cards because the JPM credit card branding is consistent with their investment, banking, and other offerings. Additionally, JPM bankers have a little more control over those products.

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