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Received an invitation to chase private client in the mail. What to do

Valued Member

Received an invitation to chase private client in the mail. What to do

So before I embarrass myself and go talk to a private client banker was this just a promotion to get me in? I DEFINTELY don’t qualify for their 250k in accounts I only have about 15% of that in my chase accounts right now. They know how much I have so why would they send it?

Anyone else get this and try it out who DIDN’T qualify by their standards?
Capital One 1,250$(first ever card), AMEX Everyday card 3,000$, BoA Cash Rewards 2,000$, AMEX JetBlue 1,000$, Chase Sapphire Preferred 10,000$
Message 1 of 9
8 REPLIES
New Contributor

Re: Received an invitation to chase private client in the mail. What to do

Yeah, that's so funny. They keep sending it to me too. I have less than $600 in my Chase checking account right now and overall with Chase I probable has less than 10% of that required amount Smiley Happy However I think they consider way more than just your total balances. Your cumulative deposits through the accounts may also be a consideration.Chase.PNG

 


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Message 2 of 9
Valued Member

Re: Received an invitation to chase private client in the mail. What to do

So you think maybe I should go in?
Capital One 1,250$(first ever card), AMEX Everyday card 3,000$, BoA Cash Rewards 2,000$, AMEX JetBlue 1,000$, Chase Sapphire Preferred 10,000$
Message 3 of 9
Community Leader
Senior Contributor

Re: Received an invitation to chase private client in the mail. What to do

This is a great marketing opportunity for JPM/Chase to assess whether you qualify for CPC.

They'll likely want to see if you have other assets outside of JPM, which can include things like investments, IRAs, other depository accounts, etc. The minimum criteria is still $250K (some exceptions can apply) and there's some decent benefits that go along with becoming a CPC client.

You can definitely schedule an appointment, which hurts nothing, just to see whether this is something that you would like to pursue.
Message 4 of 9
Valued Member

Re: Received an invitation to chase private client in the mail. What to do

I definitely don’t have 250k in assets laying around, I do in 1 account through my union but it’s not transferable
Capital One 1,250$(first ever card), AMEX Everyday card 3,000$, BoA Cash Rewards 2,000$, AMEX JetBlue 1,000$, Chase Sapphire Preferred 10,000$
Message 5 of 9
Valued Contributor

Re: Received an invitation to chase private client in the mail. What to do


@wrote:
I definitely don’t have 250k in assets laying around, I do in 1 account through my union but it’s not transferable

They are advertising and fishing for profitable customers, not inviting you to join at a lower asset level. The minimum I've heard of is like $100k now and the promise to bring over $150k more in a few months.

 

I'm not sure if a meeting would be productive.

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Message 6 of 9
Valued Contributor

Re: Received an invitation to chase private client in the mail. What to do


@wrote:

Yeah, that's so funny. They keep sending it to me too. I have less than $600 in my Chase checking account right now and overall with Chase I probable has less than 10% of that required amount Smiley Happy However I think they consider way more than just your total balances. Your cumulative deposits through the accounts may also be a consideration.Chase.PNG

 


I clicked through and filled out the form and they never even contacted me... I guess they don't want to waste their time haha


TU FICO 8: 745 (1/18) — Ex FICO 8: 738 (1/18)
Message 7 of 9
Super Contributor

Re: Received an invitation to chase private client in the mail. What to do


@wrote:

wrote:

Yeah, that's so funny. They keep sending it to me too. I have less than $600 in my Chase checking account right now and overall with Chase I probable has less than 10% of that required amount Smiley Happy However I think they consider way more than just your total balances. Your cumulative deposits through the accounts may also be a consideration.Chase.PNG

 


I clicked through and filled out the form and they never even contacted me... I guess they don't want to waste their time haha


Hear your comment and their system should screen better. Personally, I think what they did or didn't do is "tacky" ... ! Oh ... yeah, I for got it is only business.

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Message 8 of 9
Member

Re: Received an invitation to chase private client in the mail. What to do


@wrote:

wrote:

wrote:

Yeah, that's so funny. They keep sending it to me too. I have less than $600 in my Chase checking account right now and overall with Chase I probable has less than 10% of that required amount Smiley Happy However I think they consider way more than just your total balances. Your cumulative deposits through the accounts may also be a consideration.Chase.PNG

 


I clicked through and filled out the form and they never even contacted me... I guess they don't want to waste their time haha


Hear your comment and their system should screen better. Personally, I think what they did or didn't do is "tacky" ... ! Oh ... yeah, I for got it is only business.


General rule of thumb in the banking business is "80% of the customers have 80% of their money elsewhere" 

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Message 9 of 9