how to get JP Morgan Reserve Credit Card

[Anonymous]

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@Anonymous wrote:
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.

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So you have private bank with JP Morgan and by just contact the private banker, one can get this card?  

I'm also wondering what is the initial balance needed to open private bank with JPM, and what's their requirement? You know CPC require 250K but you only need 100k at the beginning to get enroll

[wasCB14]

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@Anonymous wrote:

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@Anonymous wrote:
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.

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So you have private bank with JP Morgan and by just contact the private banker, one can get this card?  

I'm also wondering what is the initial balance needed to open private bank with JPM, and what's their requirement? You know CPC require 250K but you only need 100k at the beginning to get enroll

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Thanks, Arclite!

We like direct control, so JPM is not for my family.

Herbzzz,

I think they're pretty strict about the $10 million. They actively "demoted" people in the $5M-$10M range.

I don't think they're particularly interested in people with $11 or $12 million total who might only be able or willing to move $6 or $7 million initially. They're going for several times that, or even 9+ figures. When they say minimum, I think they really do mean it.

CPC is (or at least was) a bit more relaxed, but that's a different service with a different clientele.

[Anonymous]

The Banker doesn't deal with the small stuff like credit cards, you deal with one of their Associates who will help you with the whole process.

The card itself does not have income or investment amount from what I was told, but it requires private bank relationship to start. I don't know the investment amount needed to join right now, but most people are far far north of the reported $10mil.

[Anonymous]

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@Anonymous wrote:
The Banker doesn't deal with the small stuff like credit cards, you deal with one of their Associates who will help you with the whole process.

The card itself does not have income or investment amount from what I was told, but it requires private bank relationship to start. I don't know the investment amount needed to join right now, but most people are far far north of the reported $10mil.

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I think you are correct, around 5M today will not be enough to enroll. At least 10M as my banker told me yesterday.

[sjt]

The JP Morgan Reserve Card is mainly available to JP Morgan Private Banking Clients. People who had Palladium Cards were grandfathered into the Reserve Cards. Work around is if you are a JP Morgan Securities client or Private Client Direct. Invitation offers are targeted towards customers with $1-2 million in assets with any Chase Bank affiliate. Other exceptions can be made like if you are a key employee or officer of a business that banks with Private Banking or Corporate Banking, etc.

Got this information from a banker.

[pizza1]

Im calling in the reserves for this one! 

@FinStar, @Saleen099

[Anonymous]

Is JP Morgan Security Client the same as JP Morgan private Client direct?

[sjt]

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@Anonymous wrote:
Is JP Morgan Security Client the same as JP Morgan private Client direct?

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Sort of.

JP Morgan Securities clients who have less ten $10 million in investible assets are offered Private Client Direct banking services.

[Deuter]

There’s a way i could get this card but i’m waiting to be in a more consolidated financial situation.

I have a friend who is cardholder and who has told me if i’d like to become an AU on his card. I have told him not to worry that is fine. I have always secretly wanted the card but i mean truly its nothing really important.

What would be the incurring costs/fees he would have to pay if i become an AU?

I never been an AU of anyone not even my parents and always had my individual credit card. My plan is to continue doing what i’m doing with my cards, manage them responsibly, grow them a bit more and possibly in a year or so when i have established a stronger credit profile/become more experienced with US cards then contemplate asking my friend again about his initial proposal.