topic Re: Most Prestigious (harder to get approved) in Credit Cards

Most Prestigious (harder to get approved)

Anonymous — Tue, 16 Apr 2013 23:26:56 GMT

Not counting centurion, what do you guys think are the hardest to approve for? Or most prestigious? I'd like to add 1 more card, not sure if there is something out there I don't know about. Thanks.

Re: Most Prestigious (harder to get approved)

Anonymous — Tue, 16 Apr 2013 23:28:30 GMT

Chase sapphire preferred, citi prestige? Product chance bce to bcp?

Re: Most Prestigious (harder to get approved)

Anonymous — Tue, 16 Apr 2013 23:32:11 GMT

J.p Morgan's palladium. Well that is in the same category as the centurion and I don't think they are hard to get you just have to spend like 250,000 a year.

Re: Most Prestigious (harder to get approved)

mojobones89 — Tue, 16 Apr 2013 23:36:34 GMT

@Anonymous wrote:
Not counting centurion, what do you guys think are the hardest to approve for? Or most prestigious? I'd like to add 1 more card, not sure if there is something out there I don't know about. Thanks.

amex,discover,citi,chase,etc.

all have certain cards that are prestigious.

any world MC

or SIGN. VISA is good.

bottom question,what is it that you need it for.

upgrade ur GOLD to a PRG or PLAT

your BCE to a BCP.

your chase freedom to a chase freedom SIGN.

your capital one rewards to a WORLD MC

Re: Most Prestigious (harder to get approved)

ezdoesit — Tue, 16 Apr 2013 23:45:15 GMT

i agree the J.P Morgan Palladium but you don't need to spend 250k like the centurion and the AF is i think 450. The catch is you have to have a chase private banker and from reading posts on here those people tend to have a net worth 5-30 million. I have heard both that is why the AF isn't as high because they are making money off of you in different ways.

Re: Most Prestigious (harder to get approved)

Anonymous — Tue, 16 Apr 2013 23:46:22 GMT

There was a thread on this fairly recently. One point there, you need to decide if you mean presigious in the general population, or for MyFico.

Around 58% of the adult population have "good" scores, above 700, and so most can get most of the desired cards sought on this forum. CSP, Visa Sig World Mastercard aren't a big deal to most, they can get them and not even be aware that some credit cards are Sig/World/WorldElite and others aren't.

Re: Most Prestigious (harder to get approved)

mxp114 — Wed, 17 Apr 2013 00:02:16 GMT

I can't think of any prestigious cards in the US market, the lenders create pretty compelling products but then dilute them with basic approval criteria. Citi Prestige can be issued with as low as $2,000 limit and CSP is just $5k, these are very accessible lines. Visa Infinite is probably the most prestigious since it cannot be issued below $25,000. If we had cards like that here, they would probably be prestigious.

Re: Most Prestigious (harder to get approved)

boomhower — Wed, 17 Apr 2013 00:54:58 GMT

Simmons First Platinum card. Very hard to get.

Re: Most Prestigious (harder to get approved)

LS2982 — Wed, 17 Apr 2013 01:01:26 GMT

@Anonymous wrote:
Not counting centurion, what do you guys think are the hardest to approve for? Or most prestigious? I'd like to add 1 more card, not sure if there is something out there I don't know about. Thanks.

Simmons first Visa

Re: Most Prestigious (harder to get approved)

CS800 — Wed, 17 Apr 2013 01:59:10 GMT

@ezdoesit wrote:
i agree the J.P Morgan Palladium but you don't need to spend 250k like the centurion and the AF is i think 450. The catch is you have to have a chase private banker and from reading posts on here those people tend to have a net worth 5-30 million. I have heard both that is why the AF isn't as high because they are making money off of you in different ways.

AF on the JP Palladium is $595

Re: Most Prestigious (harder to get approved)

Anonymous — Wed, 17 Apr 2013 02:02:39 GMT

Also, you don't need to spend any specific amount of money, nor is there a net worth minimum, as posted by other posters in the other thread.

you just need 250k (or 350k) minimum average deposit, plus a chase private banker. I definitely am going to try for this card by end of this year.

Re: Most Prestigious (harder to get approved)

scenery_guy — Wed, 17 Apr 2013 02:04:59 GMT

@ezdoesit wrote:
i agree the J.P Morgan Palladium but you don't need to spend 250k like the centurion and the AF is i think 450. The catch is you have to have a chase private banker and from reading posts on here those people tend to have a net worth 5-30 million. I have heard both that is why the AF isn't as high because they are making money off of you in different ways.

Officially the number is $500,000 but if conditions are right you can get a private banker with less. I just met with my personal banker and investment manager today at my local branch and we were discussing my plans for the next couple of years. The investment guy mentioned he could lose me at $250,000 invested unless I don't want private banking services. I asked what he was talking about (nice guy, really good investment person) and he said that would be the private banking level in my area. Honestly I would have to drive about an hour to get to an office - so no. But I will take the card if offered .

I will not make it there that soon as I have a real estate deal cooking and would rather own my buildings I work out of and pay zero rent while the other tenants pay the mortgage for me. Credit cards are cute but commercial property will make retiring before I am too old to enjoy it a reality.

Re: Most Prestigious (harder to get approved)

leoment — Wed, 17 Apr 2013 02:06:55 GMT

As far as cards that don't require a significant spend or deposit in the bank:

Simmons

First Command Bank

and to a degree

US Cash+ (only because I've read multiple stories of people applying for it and instead receiving another downgraded card if they didn't meet the requirements)

Re: Most Prestigious (harder to get approved)

Cdnewmanpac — Wed, 17 Apr 2013 02:07:12 GMT

If you mean hard to get, then Simmons first or Iberia. If you mean most prestigious, centurion and palladium. If you exclude centurion, then you make the question meaningless. Those are the only two cards you can't get just by having good credit and a decent income. Heck, I have a csp and I'm not even tenure track. There may be some obscure cards offered by private banks that also qualify, but I don't know of any off hand.

Re: Most Prestigious (harder to get approved)

Anonymous — Wed, 17 Apr 2013 02:11:24 GMT

@scenery_guy wrote:
@ezdoesit wrote:
i agree the J.P Morgan Palladium but you don't need to spend 250k like the centurion and the AF is i think 450. The catch is you have to have a chase private banker and from reading posts on here those people tend to have a net worth 5-30 million. I have heard both that is why the AF isn't as high because they are making money off of you in different ways.
Officially the number is $500,000 but if conditions are right you can get a private banker with less. I just met with my personal banker and investment manager today at my local branch and we were discussing my plans for the next couple of years. The investment guy mentioned he could lose me at $250,000 invested unless I don't want private banking services. I asked what he was talking about (nice guy, really good investment person) and he said that would be the private banking level in my area. Honestly I would have to drive about an hour to get to an office - so no. But I will take the card if offered .

I will not make it there that soon as I have a real estate deal cooking and would rather own my buildings I work out of and pay zero rent while the other tenants pay the mortgage for me. Credit cards are cute but commercial property will make retiring before I am too old to enjoy it a reality.

i'm very interested in the card and i'm very confused. been too busy to drop by my branch in person even though i'm sitting in front of a computer almost 18hrs a day.

so do you mean i need to invest in something (such as with JP Morgan) to qualify for the card?

I can't just have 250-500k sitting in a checking / savings / CDO? Is it a daily average balance?

Do I have to go to a bigger branch or just any branch will do?

Thanks!

Re: Most Prestigious (harder to get approved)

ezdoesit — Wed, 17 Apr 2013 02:33:52 GMT

There are other posts here with people with the palladium card. i would read them to get a better idea of the criteria. Someone else wrote and they were correct 250k for a private banker. With that you probably won't get the Palladium. As far as most prestigious I think that is up to the card holder I mean we don't wear our cards like a necklace for all to see. If I had the net worth to get either card centurion or palladium I think I would show my prestige with the car I am driving or the watch I am wearing but that is just me.

Re: Most Prestigious (harder to get approved)

mojobones89 — Wed, 17 Apr 2013 03:26:12 GMT

@ezdoesit wrote:
There are other posts here with people with the palladium card. i would read them to get a better idea of the criteria. Someone else wrote and they were correct 250k for a private banker. With that you probably won't get the Palladium. As far as most prestigious I think that is up to the card holder I mean we don't wear our cards like a necklace for all to see. If I had the net worth to get either card centurion or palladium I think I would show my prestige with the car I am driving or the watch I am wearing but that is just me.

clothes over watch

Re: Most Prestigious (harder to get approved)

Anonymous — Wed, 17 Apr 2013 04:26:31 GMT

Penfed?

Re: Most Prestigious (harder to get approved)

CreditScholar — Wed, 17 Apr 2013 04:46:54 GMT

@Cdnewmanpac wrote:
If you mean hard to get, then Simmons first or Iberia. If you mean most prestigious, centurion and palladium. If you exclude centurion, then you make the question meaningless. Those are the only two cards you can't get just by having good credit and a decent income. Heck, I have a csp and I'm not even tenure track. There may be some obscure cards offered by private banks that also qualify, but I don't know of any off hand.

+1. Aside from the palladium and centurion, nothing is really that exclusive. Simmons First and Iberia are difficult, but I wouldn't exactly say that they are prestigious in the same way the other two are.

The only other ones I can think of are the Goldman Sachs and Morgan Stanley co-branded Amex platinums. Both require a banking relationship with them, but they're closer in benefits to the standard Amex platinum with a couple of extra perks than the centurion.

From my perspective: for something to be prestigious and exclusive, it has to be something I can't get with my current credit scores and income. I know I can apply for virtually anything online and get instant approval, so that takes away some of the exclusivity factor for me personally. I know everyone's situation is different.

Anyone who does the right things for long enough can build up a high FICO, and then you simply need to add a high income. There are plenty of people out there with 775-800+ FICOs and high incomes, so to be truly exclusive you should need more than that. Being exclusive by definition means to exclude, and not enough people would be excluded if those were the only two criteria involved (income and FICOs).

Re: Most Prestigious (harder to get approved)

n777ua — Wed, 17 Apr 2013 05:04:08 GMT

I have the JPM Palladium .pdf app and its a plain-vanilla app like any other card, but its true now that these can only be submitted to a private banker ?