how to get JP Morgan Reserve Credit Card

[Anonymous]

So J.P Morgan Chase is the parent company of J.P Morgan + Chase. The highest level of banking you can have with Chase is Chase Private Client, which has a $250k requirement. Now if you have more cash than that and want to invest with J.P Morgan, you can join the J.P Morgan Reserve which has a requirement around $5 - $10 Million. 

[wasCB14]

Will PM OP link to FT's "JPM Reserve VISA Infinite to replace Palladium" thread.

[Anonymous]

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@wasCB14 wrote:

JPMR is the successor to Palladium. People who had open Palladium cards were PCed to JPMR. Palladium is closed to new applications (and no longer exists).

However, the requirements to apply for JPMR are higher than they were for Palladium. Some people got Palladium when they were at the CPC tier and now have JPMR with far less than $10 million.

The biggest difference IMO between CSR and JPMR is really the United Club membership...if JPMR still includes that.*

There is also JPM Private Client Direct between the CPC and JPM Private Bank tiers. That's where they keep me, perhaps through some IT glitch about an old (now closed) brokerage account (or in hope I'll return). No JPMR or United Club membership, but special customer service (the Executive team) beyond the Sapphire people.

Curiously, JPMR's concierge service was (last I read) a less premium service than included on the Ritz cobrand.

*A June post on FT says it's still included.

**The fact that they made an additional tier (JPMPCD) for customers between CPC and JPMPB leads me to think CPC requests for JPMR are not likely to go anywhere.

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What is JPMPCD, and what is the minimum requirement for that level? I couldn't find any information online.  

[wasCB14]

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@Anonymous wrote:
What is JPMPCD, and what is the minimum requirement for that level? I couldn't find any information online.  

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I think "JP Morgan Private Client Direct" is the technical name for the service tier. I hear a lot of "and thank you for being a JP Morgan Private Client" when I call.

I've heard another person say the minimum is $1 million (or at least was in 2015/2016), but I don't know. Probably not less than that...maybe more. Definitely a question for the CPC staff!

I have no assets at Chase. I just seem to be grandfathered in.

[Anonymous]

I heard people previously posted around January 2018 that CPC got invited by having 1M combined in personal and business account. But I don't know the minimum requirement. My personal banker told me the national average account balance in CPC customers is around 800k. If the true requirement is 1M, I guess a lot of CPC customers will get the invitation.  

[wasCB14]

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@Anonymous wrote:

I heard people previously posted around January 2018 that CPC got invited by having 1M combined in personal and business account. But I don't know the minimum requirement. My personal banker told me the national average account balance in CPC customers is around 800k. If the true requirement is 1M, I guess a lot of CPC customers will get the invitation.  

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I don't know about that particular case, but Chase is known to use "invitations" as an advertising tool, at least in the case of CPC. They might send "invitations" to anyone with $10k in checking and savings, figuring that a few of them will have $250k elsewhere and bring it over.

There's a big difference between "more benefits for what you currently have here" and "more benefits if you bring more money over".

[Anonymous]

You were able to get this card if you had the Palladium (CPC required) product change to JPMR or the fax loop hole years back.

I got this card back in May of this year and it's only available to individuals with Private Bank relationships. You just call your banking team and they will send you the application to fill out and sign via DocuSign.

[wasCB14]

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@Anonymous wrote:
You were able to get this card if you had the Palladium (CPC required) product change to JPMR or the fax loop hole years back.

I got this card back in May of this year and it's only available to individuals with Private Bank relationships. You just call your banking team and they will send you the application to fill out and sign via DocuSign.

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Do you manage your own investments to the extent of placing buy and sell orders yourself, making several trades per year? You do it yourself but make very few trades? You have someone at JPM manage the account and place buy and sell orders?

I'm pretty satisfied with Fidelity VIP and Schwab, but am a bit curious how the website for self-directed investors at JPM is now.

[kerplunk]

Kind of off topic, but you JPMorgan investment guys could save a ton of money (and possibly outperform JPM's investment choices) by simply using index funds.

https://www.bogleheads.org/wiki/Three-fund_portfolio

Just wanted to bring that to your attention in case you weren't aware.

I'd still like to know if OP can get the JPM Reserve card though. It's pretty elite.

[Anonymous]

We have several Investment accounts which are managed by the team and I don't generally touch those unless I need to transfer out from the sweep funds.

Wife and I have a personal brokerage account that we manage and play around with throughout the years. We have to call the team directly to make a trade, it cannot be done via website or JP Morgan app.