topic Re: To apply or not to apply... that is the question. in Credit Cards

To apply or not to apply... that is the question.

californiaboy935 — Thu, 28 May 2020 07:46:30 GMT

One of the hardest parts of being in the Garden... is being in the Garden.

You wish to grow your current portfolio of cards, expand your banking relationships. And just generally make a positive impact on your credit. But if you like me then sometimes you loose your way, you want to find the next great thing:

You have your friend whose a J.P. Morgen Private Bank client introduce you to his private banker just to try for the JP Morgen Reserve Card....

Any thoughts on if I should retire from the garden, and choose the J.P. Morgan Advisor? Does anyone give a **bleep** about the reserve card anymore??

Re: To apply or not to apply... that is the question.

Revelate — Thu, 28 May 2020 12:41:49 GMT

I'm all for applying for science's sake, but realistically the invitation for the JPM Reserve card is something like 10m in assets. Basically the tier higher than CPC (Private Banking?) I don't qualify for that, actually I will never get there frankly.

More to the point it's just a status symbol for those that care, the card itself isn't any better than the CSR to my knowledge.

Re: To apply or not to apply... that is the question.

AverageJoesCredit — Thu, 28 May 2020 13:24:32 GMT

I dont have any friends like that or on that level. Most of my friends here just want me to app Penfed😬

Re: To apply or not to apply... that is the question.

K-in-Boston — Thu, 28 May 2020 15:41:58 GMT

If you already have $10 MM or more in JP Morgan Chase Private Bank, then I would probably spend the extra $45 annually to get the card over the Chase Sapphire Reserve. The only real different between the two cards is slightly higher AF, card construction, exclusivity due to being invite-only, and an elevated concierge service over the CSR - and I certainly won't say that last three aren't worth the first.

If you don't already have that level of assets with them, I wouldn't think it's worth moving that much to them just to get the card over getting a CSR, unless they are offering other incentives for you to move funds to them.

I'd love to have one myself, but it's never going to happen.

Re: To apply or not to apply... that is the question.

Anonymous — Thu, 28 May 2020 16:17:50 GMT

@K-in-Boston wrote:
If you already have $10 MM or more in JP Morgan Chase Private Bank, then I would probably spend the extra $45 annually to get the card over the Chase Sapphire Reserve. The only real different between the two cards is slightly higher AF, card construction, exclusivity due to being invite-only, and an elevated concierge service over the CSR - and I certainly won't say that last three aren't worth the first.

If you don't already have that level of assets with them, I wouldn't think it's worth moving that much to them just to get the card over getting a CSR, unless they are offering other incentives for you to move funds to them.

I'd love to have one myself, but it's never going to happen.

I mean, if you have the 10mm in assets, why are you even dealing with Chase over you friends in the Isle of Man or other wonderful havens. Right?

Re: To apply or not to apply... that is the question.

Citylights18 — Thu, 28 May 2020 16:24:49 GMT

I'm locked in a debate on whether I should move forward with plans for an app spree, especially when my scores are on an upward trajectory for the next couple of months.

I'm at 4.3% utilization in Chase Credit Journey so its not like I need more CL. At the beginning of the year I could have found use with a 0% APR card but now looking at 2% utilization by next month that ship has sailed.

At the end of the day though I think you should be OK as a reliable customer with a bank like Chase because if they become too tight they lose market share.

Re: To apply or not to apply... that is the question.

californiaboy935 — Thu, 28 May 2020 23:17:37 GMT

So the friend said to just deposit like 50k in an account and ask for the card. And they'll probably just give it to me to keep me a happy client.

So maybe ill do that and see if they'll give it ot me with no hard pull or anything. Am I still in the garden if i dont have a new hard pull? lol.

Re: To apply or not to apply... that is the question.

Anonymous — Thu, 28 May 2020 23:19:27 GMT

If you could just throw $50K into an account that card would be everywhere on here.

Re: To apply or not to apply... that is the question.

californiaboy935 — Thu, 28 May 2020 23:20:06 GMT

I always wanna go on an Application Spree. Because for some reason these stupid gambling computers make me feel good when they realize ill pay back their corporation and bring them lots of money in merchant fees...

Re: To apply or not to apply... that is the question.

californiaboy935 — Thu, 28 May 2020 23:21:29 GMT

My friend is a pretty heavy hitter tho. The group he reffered me to (within JPMORGAN) has only billion dollar clients. So yeah idk, we'll see if hes full of **bleep**e or not. But i believe him.

Re: To apply or not to apply... that is the question.

Anonymous — Thu, 28 May 2020 23:24:20 GMT

@californiaboy935 wrote:
I always wanna go on an Application Spree. Because for some reason these stupid gambling computers make me feel good when they realize ill pay back their corporation and bring them lots of money in merchant fees...

What exactly are your garden goals? I mean if you can get cards like this, there isn't much point in gardening honestly. When I didn't have a solid garden goal, I always failed at gardening. Now that I have a garden goal, I got a bronze spade and didn't even notice it right away and the only reason I traded in my gold spade was because the AOD card checked a lot of boxes for me. Then I went right back in the garden. Once I get my US Bank out of the way, if I don't find another goal, it's going to be bad gardening again and I'll probably just remove the spade entirely.

Re: To apply or not to apply... that is the question.

K-in-Boston — Thu, 28 May 2020 23:25:44 GMT

@californiaboy935 wrote:
So the friend said to just deposit like 50k in an account and ask for the card. And they'll probably just give it to me to keep me a happy client.

So maybe ill do that and see if they'll give it ot me with no hard pull or anything. Am I still in the garden if i dont have a new hard pull? lol.

The JP Morgan Reserve card is no longer available to those with Chase Private Client, which requires $250,000 in deposits.

It now not only requires an invitation, but also requires $10 MM or more in deposits to qualify for Chase Private Bank.

$50,000 is unlikely to get more than a comfortable chair while they run your application for a Chase Sapphire Reserve, I'm afraid.

Re: To apply or not to apply... that is the question.

Anonymous — Thu, 28 May 2020 23:25:54 GMT

@californiaboy935 wrote:
My friend is a pretty heavy hitter tho. The group he reffered me to (within JPMORGAN) has only billion dollar clients. So yeah idk, we'll see if hes full of **bleep**e or not. But i believe him.

I mean if he can get you in that way, that's great, but they are known to be rather strict with this one.

Re: To apply or not to apply... that is the question.

Remedios — Thu, 28 May 2020 23:45:02 GMT

I've removed the posts that do not adhere to community standards, including replies because they contained quotes.

Please avoid baseless accusations and posts that incite conflict.

If you need to, revisit Terms of Service

Re: To apply or not to apply... that is the question.

californiaboy935 — Thu, 28 May 2020 23:48:43 GMT

@Remedios wrote:
I've removed the posts that do not adhere to community standards, including replies because they contained quotes.

Please avoid baseless accusations and posts that incite conflict.
If you need to, revisit Terms of Service

Thank you. Sorry, wont happen again.

Re: To apply or not to apply... that is the question.

Remedios — Thu, 28 May 2020 23:49:43 GMT

Okies.

Re: To apply or not to apply... that is the question.

californiaboy935 — Thu, 28 May 2020 23:51:19 GMT

Looks as though it might not actually be 10MM in assets required. What are your thoughts? Does that ruin the allure of the Card?

Re: To apply or not to apply... that is the question.

K-in-Boston — Fri, 29 May 2020 00:08:06 GMT

That would certainly be newsworthy. FlyerTalk is filled with people frustrated that they can't get the card with $3-5 million in CPC accounts. Not sure if it still holds true, but another difference between the CSR and Palladium Card (now JPM Reserve) was that it was (is?) a hidden tradeline.

Re: To apply or not to apply... that is the question.

Anonymous — Fri, 29 May 2020 01:17:38 GMT

@californiaboy935 wrote:
Looks as though it might not actually be 10MM in assets required. What are your thoughts? Does that ruin the allure of the Card?

It could very well be a situation where they make an exception based on who referred you. Keep us posted as it plays out. 👍

Re: To apply or not to apply... that is the question.

Anonymous — Fri, 29 May 2020 01:19:57 GMT

Good luck @californiaboy935 !! 🤞🏼