No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Your best bet would be to talk to your Chase private banker (I'm assuming you already have this because it's the obvious requirement). They would know the requirements the best but I'm going to go out on a limb and assume you need excellent credit because I've seen the CLs they give out with the card.
You essentially need 2 things:
1. Become a CPC
2. Apply for the card just like any other, only your CPC banker needs to endorse the application as well.
@from500to700 wrote:
Than you very much , my concern was if you have the private account but NOT the excellent credit will that make it happen. Ill know the answer in the AM then. I dont think you need 25 mil account I know my friend has 1mil in relation but he has excellent credit and he has it.
You still need good credit as they will pull your reports just like with any other application. Having a score of 500 won't cut it (for example), even if you do have enough assets to qualify for CPC.
@Laugh wrote:
You need a minimum of 25 million in a chase private bank.
I'm assuming no exceptions.
It's best to ask Chase.
Not true at all, not even close. And there were hundreds of exceptions before Chase closed the loophole. $250k is the minimum deposit for CPB, and your banker can submit the app for you. Also, I have a .pdf of the paper app I can send if you want it, you can TRY submitting it on your own but I don't think Chase accepts them anymore.
@n777ua wrote:
@Laugh wrote:
You need a minimum of 25 million in a chase private bank.
I'm assuming no exceptions.
It's best to ask Chase.Not true at all, not even close. And there were hundreds of exceptions before Chase closed the loophole. $250k is the minimum deposit for CPB, and your banker can submit the app for you. Also, I have a .pdf of the paper app I can send if you want it, you can TRY submitting it on your own but I don't think Chase accepts them anymore.
They won't. That backdoor closed a long time ago.
@CreditScholar wrote:
@from500to700 wrote:
Than you very much , my concern was if you have the private account but NOT the excellent credit will that make it happen. Ill know the answer in the AM then. I dont think you need 25 mil account I know my friend has 1mil in relation but he has excellent credit and he has it.You still need good credit as they will pull your reports just like with any other application. Having a score of 500 won't cut it (for example), even if you do have enough assets to qualify for CPC.
+1 to what CS said.
To OP: You do NOT need 25million. All you need is at least 250k + CPC relationship.
The JPMorgan select requires you to be a customer of JPMorgan, and the amount of money required to be a client of JPMorgan is a lot higher, but that is an entirely different card. Other people probably got confused between these 2 cards.
Basically, 250k + CPC is just the basic requirements to qualify. They will not accept the app or even pull an inquiry if you do not meet those requirements.
After you meet those requirements, they will pull your credit and evaluate your application.
With a 500+ scores your approval odds are slim to none.
In some scenarios, Chase is willing to hand out Freedom, and rarely CSP, to people with little to no credit as long as they have a sizable amount of deposits with Chase. I am not sure if this can be done for the Palladium, and even if this is possible, you will need to deposit A LOT of money, way above the 250k threshold, to even make your application slightly more attractive. But with a 500 scores chances are pretty bleak IMO. Chase is willing to work with thin files, but very rarely bad files.