Super Contributor
Posts: 7,132
Registered: ‎02-27-2013
Re: jp morgan palladium question

JHorowitz wrote:

What a great forum, I was going to ask a banker myself, but i'll ask here first and save me a trip!


I'm really interested in the Palladium card. Main reason is right now, I carry the Chase Sapphire Preferred, United Club Visa, and American Express Platinum card. That's $940 in AFs! I'm a big airport lounge nut and enjoy Amex's Concierge. I thought it might be a good idea to ditch all 3 cards and replace it with one Palladium card, all for $595 AF, sounds like a great deal, right?

However, according to the MyFICO forums, I need to be a Chase Private Client (CPC) to even apply!

So here's my question:


According to these forums, I need $250K to deposit. I have just around $300K right now in assets with MOST (60%) of it true liquid, and the remaining in 401K, IRAs.


I'd still like to keep $50K seperate in another bank, so If I deposit $250K to open a CPC account (including rolling over the IRAs), will CPC invest ALL of my $250K (including my checking/savings)? Reason I ask is because I'd like to pull out approximately 50K-100K to purchase some rental properties in about 2-4 years (side job/hobby), thus leaving only $150K-$200K remaining with CPC.  Basically, I like having a good chunk always true liquid. Is that allowed? Or is the requirement for CPC is to have the $250K for investments ONLY, and anything over $250K is true liquid for me to spend freely? I really have no idea how CPC works.


However, I still plan to add more funds after the property purchases to invest more every month/year as I have lots of earning potential (in early 30s).


I don't know what the TRUE requirements for CPC is, the internet only says $250K+ to deposit, but it doesn't specify retention requirements. Anyone chime in? Much appreciated.



your best bet is to talk to a banker.

Sometimes they are able to "bend" some rules for you, depending on your relationship with Chase and the banker.


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).