topic Re: Palladium - Just another data point in Credit Cards

Palladium - Just another data point

n777ua — Wed, 25 Apr 2012 21:52:54 GMT

Sorry if beating a dead horse, there's a lot of threads on this but I just wanted to add a new data point. I called the Chase back door number today and spoke with a credit analyst about doing a PC from Sapphire preferred to Palladium, or applying for a new account outright. The analyst, who was -extremely- friendly, didn't have any idea what the Palladium card was ! After on hold a few minutes, she contacted a sup and said that a PC to Palladium was not possible; she could have someone email me an app, but the card is "generally" invitation only.

As someone making $115k/year charing $2-3k/mo on my Amex Plat, I don't think I'll push the issue and will just keep the Amex. Overall a a pleasant call with a friendly analyst, just found it odd she had to Google Palladium, with me on the line, to figure out what it was.

If you have any specific questions about the call, fire 'em off!

Re: Palladium - Just another data point

espnjunkie — Wed, 25 Apr 2012 22:01:58 GMT

Very few people are willing to pay such a high annual fee and do not spend enough to justify it. It is not a surprise that even chase csr's have not heard of it.

Re: Palladium - Just another data point

Anonymous — Wed, 25 Apr 2012 22:11:34 GMT

I can confirm, no PC from Chase cards to Palladium. I don't think JPM Select to Palladium is even possible.

Re: Palladium - Just another data point

Anonymous — Wed, 25 Apr 2012 22:15:46 GMT

The card is marketed to "millionaires" essentially. I'm not surprised that a regular Chase CSR doesn't know what it is, since you need to have a private banking relationship with JP Morgan to get one. And for someone who meets the requirements for a Palladium, the annual fee is laughable, but so are the perks when compared to a Platinum.

Re: Palladium - Just another data point

Anonymous — Thu, 26 Apr 2012 03:47:30 GMT

@Anonymous wrote:
...since you need to have a private banking relationship with JP Morgan to get one.

This is no longer true. Anyone can apply.

Re: Palladium - Just another data point

Anonymous — Thu, 26 Apr 2012 03:51:13 GMT

+1 to Chase customer support, my recon was actually a respectful and pleasant conversation.

Re: Palladium - Just another data point

n777ua — Thu, 26 Apr 2012 10:06:10 GMT

@Anonymous wrote:
@Anonymous wrote:
...since you need to have a private banking relationship with JP Morgan to get one.

This is no longer true. Anyone can apply.

This seems to be the general concensus, but I was just told it was invitation only by Chase - I get the feeling that even individual CSR's at Chase don't know too much about this product. FWIW, they will send out an app to anyone who asks.

Re: Palladium - Just another data point

Smug — Thu, 26 Apr 2012 12:09:44 GMT

Skip it , it's for people who need attention......

Re: Palladium - Just another data point

Anonymous — Thu, 26 Apr 2012 12:20:51 GMT

@n777ua wrote:
@Anonymous wrote:
@Anonymous wrote:
...since you need to have a private banking relationship with JP Morgan to get one.

This is no longer true. Anyone can apply.
This seems to be the general concensus, but I was just told it was invitation only by Chase - I get the feeling that even individual CSR's at Chase don't know too much about this product. FWIW, they will send out an app to anyone who asks.

Ah yes, the good old fashioned invitation only programs that anyone can apply to.

Re: Palladium - Just another data point

Anonymous — Thu, 26 Apr 2012 14:19:04 GMT

It makes sense for some people. Those who travel (especially to London) a lot, need an EMV chip, value high-end concierge, etc.

Re: Palladium - Just another data point

Anonymous — Thu, 26 Apr 2012 15:10:22 GMT

My understanding is that chase recently changed palladium from anyone can apply to reinstituting asset requirements. Not sure with jp Morgan or anyone.

Re: Palladium - Just another data point

Anonymous — Thu, 26 Apr 2012 15:19:06 GMT

@Anonymous wrote:
My understanding is that chase recently changed palladium from anyone can apply to reinstituting asset requirements. Not sure with jp Morgan or anyone.

I was told by a J.P. Morgan private banker just 2 days ago that anyone could still apply. If there was an asset requirement, it would be with J.P. Morgan (PB, PWM, JPMS, etc.) or Chase Private Client (the new "mass affulent" retail initiative).

Re: Palladium - Just another data point

espnjunkie — Thu, 26 Apr 2012 15:26:07 GMT

Cards like this do scream "I need and crave status and attention!!!!!!!!"

Credit cards are just a form of payment, most people are not millionaires so this doesn't concern them. Such trivial first world problems being discussed here haha. OMG how do I get aproved for a card made out of palladium (whatever the hell that metal is...lets be honest nobody had heard of it before this card)? This product would only benefit high net worth individuals, and even how much is questionable. AMEX platinum seems better all around. EMV chips are nothing special, every european credit card has one...not worth a dime extra.

Re: Palladium - Just another data point

Anonymous — Thu, 26 Apr 2012 15:35:19 GMT

I know what you mean, but credit in general is a first world problem. "Oh no! I can't spend beyond my immediate needs?!?! Nooooo!"

Re: Palladium - Just another data point

espnjunkie — Thu, 26 Apr 2012 15:48:26 GMT

My post was ment as a joke not an attack haha. I agree! "Oh no my limit isn't 75,000.00+ whatever shall I do?!?!"

Re: Palladium - Just another data point

Anonymous — Thu, 26 Apr 2012 15:49:34 GMT

75k is on the low side for this card