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Well, no one had a good reason to switch to the Palladium so I passed ... $595/yr just seems like a lot with little benefit. However, my banker did just increase my CSP to $25k without an HP, so that was nice ;-)
@Anonymous wrote:Well, no one had a good reason to switch to the Palladium so I passed ... $595/yr just seems like a lot with little benefit. However, my banker did just increase my CSP to $25k without an HP, so that was nice ;-)
A few people have it, but you nailed it the CSP is a better card. Nice that you got your CL increased, althogh suprised they did it without a HP as Chase isn't known for this, but if you moved a good chunk of change I guess anythign is possible for them to push it through.
One of the benefits of the palladium is the hidden trade line
I have had the Palladium for a few years. IMHO, unless your banker is willing to waive the AF or at least give a substantial reimbursement of the AF, the CSP is a better card.
It would be worth it if these benefits will be used:
1. Full United Club Membership (they used to also give 50% off for spouse but no more)
2. Unlimited Priority Pass - you can bring in as many guests as you wish
3. Black Membership to Global Hotel Alliance (Pan Pacific, etc.)
4. 35,000 bonus UR on $100k spend
5. 3X Flexible spend on CL (example, if your CL is $75k, you can charge up to $225k in one billing cycle with no problems)
6. Hidden tradeline
if these benefits won't be used then it is not worth it. Just another annoying heavy metal card (but they will give you plastic version if you request it).
Can the $250k+ simply be a combination in regular savings/checking to qualify for the card, what if you don't want to invest through Chase?
TOTORO88 wrote:
Yes. It can be a combined amount. You don't have to invest with them and I will not recommend investing with them with my past experience.
You only need $100k to start the private banking but every year, they will check and tell you that you need $250k.
A family member has a substantial trust account with Chase, I have been very surprised how well they have invested including during the worst of the recession. FWIW - she has only one credit card and it is not a Pallidium.
Post-Script: my wife got her CSP with a very nice SL without a HP.
@Anonymous wrote:Can the $250k+ simply be a combination in regular savings/checking to qualify for the card, what if you don't want to invest through Chase?
Consider what interest rate you're going to be earning on that $250k. If you could earn 1% more elsewhere, you're effectively paying an additional $2,500 as an annual fee.
Discover pays me about 0.9% more than Chase right now, so I keep my Chase checking and savings balances low.