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The new Sapphire Reserve card is now officially announced... Looking at the perks, its superior to the Palladium card with a much lower AF ($450 - $300 travel credit, effectively making it $150/year). I hope to see some changes coming to the Palladium card soon, otherwise its hardly worth keeping.

AAdmiral

I happened to be in a Chase branch last Saturday as a friend had some business there and I started talking with a CPC banker asking about the Chase Sapphire Reserve Card (CSR) which he was surprised I knew about it and he mentioned that once the CSR comes out on Aug 21 that it would replace the Palladium Card for CPC clients. He also mentioned that they were told to offer the CSR as a replacement to the Palladium Card (PC) and try to convert them from Palladium to CSR. He also told me that current CPC clients with the Palladium Card can keep it if they don't want to convert to CSR. I told my friend, a CPC client to keep his Palladium Card since he would not be able to get it again after the CSR comes out. I haven't heard yet from JPM Private Bank team if they will also try to do the same. I hope that once the CSR is out the Palladium card with receive some upgrades. Hopefully JPM PB will make the PC card a true rival to Amex Centurion.

halfleafclover

This is exactly what's keeping this card alive, FOMO. I'd say it's time to face the reality that enhancements aren't coming. If Chase really wanted to make a true Palladium competitor they'd likely make a new card (perhaps for PB clients only). Heck they could even call it the JP Morgan Reserve. But for as long as there will be people willing to fork over $595 a year for subpar benefits (ie. those who don't get the fee waived) Chase will keep milking them for all it's worth.

patrick.barnes

I want them to improve the Pd as much as anyone but it should be clear that's been wishful thinking for years.

The card is not going to get better with less people holding it. You need AF money from more people to fund benefits for those that use them. It's kind of like insurance.

slivrflyr

United club card + CSR = net $600 cost. Same as current palladium right? You get better benefits /earning structure plus you get additional united perks beyond just club access

edwardlai

I feel like that JPM is going to make the PC more exclusive by offering it to their PB customers only. By introducing the sapphire reserve, this becomes a direct competitor to AMEX Platinum so they can offer the SR to their CPC instead of offering the PC. In order for the PC to compete with the Centurion, it's likely JPM will have to increase the PC's annual fee to get more benefits (airline status, hotel status...) At least that is what I think.

mia

Welcome to Flyertalk.

To make benefits affordable they also need scale. No card issuer can break even offering rich benefits without a large number of fee-paying cardholders who will not use most of them. If Chase intends to compete in the Centurion space they need higher fees -and- many more cardholders. If that's their plan it doesn't make sense to drive existing cardholders to a less expensive product.

AAdmiral

If you look at my post #2590 I mention that JPM would need to raise the annual fees. I had even mentioned a tier system to reward the JPM PB customers then Chase CPC customers and then non-Chase banking on a sliding scale. Remember that unlike Amex with the Centurion card, JPM PB has the Palladium Card (PC) as a benefit to its Private Bank customers. To establish a relationship with the Private Bank at JPM you need to have assets in excess of $5 million. The PC is a benefit of the relationship with the PB. I think that some people found ways of getting it without the relationship at the PB and then JPM Chase opened it up to CPC clients. JPM PB generates money from having the assets under management so they are making money off the PB client. With a smaller PC client base, JPM might be able to go to its airline & hotel partners that the issue co-branded credit cards and as a courtesy extract elite membership since it would be for a smaller group. I already have many different Chase cards but prefer my PC since it's a hidden trade line, and various other benefits. I would like to see at least it become a Visa Infinite card. Look I've had the card since 2010 so I'm not going to hold my breath but with the Chase Sapphire Reserve coming out next week this might finally be the time they enhance the PC.

MDJennings

Is this confirmed?

dlesin

The entire private banking team that manages my account told me so along with my local cpc whom I've had a strong working relationship with for many years so yes as far as I'm concerned

MDJennings

Wow, good thing I was approved. I should tell my coworker who was also interested in it to apply before Friday then. Thanks for the DP.

dlesin

There will be a card tiered above palladium to release same day as CS(R) that will actually require private bank relationship and will not have loophole to allow app through CPC or over the phone as Palladium did. I'm told that will have the features of the speculated Palladium overhaul that never came to be. Will have details this coming week when I get mine

MDJennings

Excellent, keep us posted please. Might have to consider moving some assets from ML if it's worth it.

patrick.barnes

The same thing is said every year by people with Chase sources. Here's hoping it's actually true.

dlesin

Though happily now I have it on paper from 2 separate people on my private banking team along with the new card name