JPM Reserve

[Anonymous]

Hi everyone,

What would be the recommended score for an Approval? Min-Avg?

I should be sitting around 730 across all three scores. 100% payment history over 8 years--and credit utilization is the only variable that moves my score the most. With my most recent payments, it should be updated to that 730 range in a about a week or two--though there's the off chance it could sit at 720 instead.

I will be applying with my Private Banker as soon as it updates.

Any feedback is appreciated.

[Anonymous]

---

@Anonymous wrote:

Hi everyone,

What would be the recommended score for an Approval? Min-Avg?

I should be sitting around 730 across all three scores. 100% payment history over 8 years--and credit utilization is the only variable that moves my score the most. With my most recent payments, it should be updated to that 730 range in a about a week or two--though there's the off chance it could sit at 720 instead.

I will be applying with my Private Banker as soon as it updates.

Any feedback is appreciated.

---

Welcome to MyFICO

Those if FICO scores, are fine.  As you're talking about a card via Chases's Private Bank, what's more important is your internal Chase credit score.  Your Chase banker has a lot of influence when you apply thru them and depending on your assets with Chase, you probably won't have much of an issue getting approved. It's my understanding that you have to have $5-10 million in assets with them to be a Private Client.  Scores at that point are pretty much meaningless. Good luck

[Anonymous]

Thanks for the insight! I know there can be special considerations, wasn't sure if that was applicable with the Private Bank. But you do make a great point!

Have a great day!

[wasCB14]

---

@Anonymous wrote:

Hi everyone,

What would be the recommended score for an Approval? Min-Avg?

I should be sitting around 730 across all three scores. 100% payment history over 8 years--and credit utilization is the only variable that moves my score the most. With my most recent payments, it should be updated to that 730 range in a about a week or two--though there's the off chance it could sit at 720 instead.

I will be applying with my Private Banker as soon as it updates.

Any feedback is appreciated.

---

What, approximately, is your utilization? With 8 years of history and no lates, I would expect a much higher FICO score. Are you carrying some major purchase at 0%? Maybe your existing CCs just have low limits compared to your assets and spend? Are most of your cards very new? Do you have legal access to the JPM funds to pay off any CC balances not at 0%, or does some trustee need to approve?

Presumably through some outdated systems at JPM, I'm in their JPM Private Client Direct customer category (I think one tier below Private Bank, despite having no assets with them anymore).

Maybe things are different since you're in their higher tier and a proper customer with an actual relationship with a banker...but for me they have assigned relatively conservative CLs that reflect my comparatively modest credit report and 1040 income.

[Anonymous]

I believe my average age is 4, between 5 cards. One was acquired a year ago. But my utilization goes from 80% to about 20-40% from month to month, I'll carry a balance into the following statement cycle before I pay off a card or lower a balance. And I'm in the middle of that process, now that I've decided to looking into the card. I appreciate the insight--though not as liquid as I'd like to be to cover the remaining balances, until about a month before I can look to do that comfortably. But of course I want it sooner, than later haha.

[sjt]

---

@Anonymous wrote:
Thanks for the insight! I know there can be special considerations, wasn't sure if that was applicable with the Private Bank. But you do make a great point!

Have a great day!

---

Private Banking (and Private Client Direct) credit card and lending applications are handled in a different department. All apps are given special consideration and the Market Manager in each office has influence to get apps approved.

Also, this depends on your Private Banking relationship, ie if you are a client by family relations or if you have actual asset, etc.

[sjt]

---

@wasCB14 wrote:

---

@Anonymous wrote:

Hi everyone,

What would be the recommended score for an Approval? Min-Avg?

I should be sitting around 730 across all three scores. 100% payment history over 8 years--and credit utilization is the only variable that moves my score the most. With my most recent payments, it should be updated to that 730 range in a about a week or two--though there's the off chance it could sit at 720 instead.

I will be applying with my Private Banker as soon as it updates.

Any feedback is appreciated.

---

What, approximately, is your utilization? With 8 years of history and no lates, I would expect a much higher FICO score. Are you carrying some major purchase at 0%? Maybe your existing CCs just have low limits compared to your assets and spend? Are most of your cards very new? Do you have legal access to the JPM funds to pay off any CC balances not at 0%, or does some trustee need to approve?

Presumably through some outdated systems at JPM, I'm in their JPM Private Client Direct customer category (I think one tier below Private Bank, despite having no assets with them anymore).

Maybe things are different since you're in their higher tier and a proper customer with an actual relationship with a banker...but for me they have assigned relatively conservative CLs that reflect my comparatively modest credit report and 1040 income.

---

What is the minimum for a Private Client Direct relationship?

[wasCB14]

---

@sjt wrote:

---

@wasCB14 wrote:

---

@Anonymous wrote:

Hi everyone,

What would be the recommended score for an Approval? Min-Avg?

I should be sitting around 730 across all three scores. 100% payment history over 8 years--and credit utilization is the only variable that moves my score the most. With my most recent payments, it should be updated to that 730 range in a about a week or two--though there's the off chance it could sit at 720 instead.

I will be applying with my Private Banker as soon as it updates.

Any feedback is appreciated.

---

What, approximately, is your utilization? With 8 years of history and no lates, I would expect a much higher FICO score. Are you carrying some major purchase at 0%? Maybe your existing CCs just have low limits compared to your assets and spend? Are most of your cards very new? Do you have legal access to the JPM funds to pay off any CC balances not at 0%, or does some trustee need to approve?

Presumably through some outdated systems at JPM, I'm in their JPM Private Client Direct customer category (I think one tier below Private Bank, despite having no assets with them anymore).

Maybe things are different since you're in their higher tier and a proper customer with an actual relationship with a banker...but for me they have assigned relatively conservative CLs that reflect my comparatively modest credit report and 1040 income.

---

What is the minimum for a Private Client Direct relationship?

---

http://ficoforums.myfico.com/t5/Personal-Finance/Not-CPC-but-JPM-PC/m-p/4804861

My information is mostly based on what you told me. If you have to ask me, then neither of us really knows.

[sjt]

---

@wasCB14 wrote:

---

@sjt wrote:

---

@wasCB14 wrote:

---

@Anonymous wrote:

Hi everyone,

What would be the recommended score for an Approval? Min-Avg?

I should be sitting around 730 across all three scores. 100% payment history over 8 years--and credit utilization is the only variable that moves my score the most. With my most recent payments, it should be updated to that 730 range in a about a week or two--though there's the off chance it could sit at 720 instead.

I will be applying with my Private Banker as soon as it updates.

Any feedback is appreciated.

---

What, approximately, is your utilization? With 8 years of history and no lates, I would expect a much higher FICO score. Are you carrying some major purchase at 0%? Maybe your existing CCs just have low limits compared to your assets and spend? Are most of your cards very new? Do you have legal access to the JPM funds to pay off any CC balances not at 0%, or does some trustee need to approve?

Presumably through some outdated systems at JPM, I'm in their JPM Private Client Direct customer category (I think one tier below Private Bank, despite having no assets with them anymore).

Maybe things are different since you're in their higher tier and a proper customer with an actual relationship with a banker...but for me they have assigned relatively conservative CLs that reflect my comparatively modest credit report and 1040 income.

---

What is the minimum for a Private Client Direct relationship?

---

http://ficoforums.myfico.com/t5/Personal-Finance/Not-CPC-but-JPM-PC/m-p/4804861

My information is mostly based on what you told me. If you have to ask me, then neither of us really knows.

---

They since restructured their program and those requirements that I posted in early 2017 dont apply anymore.

[wasCB14]

---

@sjt wrote:

---

@wasCB14 wrote:

---

@sjt wrote:
What is the minimum for a Private Client Direct relationship?

---

http://ficoforums.myfico.com/t5/Personal-Finance/Not-CPC-but-JPM-PC/m-p/4804861

My information is mostly based on what you told me. If you have to ask me, then neither of us really knows.

---

They since restructured their program and those requirements that I posted in early 2017 dont apply anymore.

---

Oh. In that case, I have no idea what the minimum is.