I thought the fine prints say You Invest is excluded. I looked into it when Chase was offering a cash bonus (may still be available). I might be interested if You Invest counts towards the minimum balance.
LAX
Originally Posted by
r.brown
You Invest 100% counts towards the CPC balance requirements. It just doesn't count towards the bonus offers to upgrade to CPC. For example, there are occasionally offers to receive $2000 to upgrade to CPC, but that money cannot be in You Invest.
This is probably what I saw! I guess this means one needs to park $200K in an essentially non-interest bearing CPC checking account until the cash bonus is deposited. After that, the funds can then be transferred to You Invest to maintain CPC status. This is not as bad as I initially thought. I was really turned off by the You Invest exclusion previously. If that is only short-term, then I have to look at CPC again. Thanks.
LAX
Not sure if all the above is true.
For balance requirement of both Sapphire banking and CPC, assets in all discretionary Chase accounts count toward the balance requirement. This excludes all employer sponsored 401K or similar, pension or HSA. You Invest accounts should be included, even regular IRA accounts.
But to get the bonus for new account or upgrade, it has to be additional new money into Chase. And it has to be non-taxable money, not IRA rollover into Chase. I believe YouInvest accounts are included.
The traditional CPC is fee based. But now you can still get CPC with self-directed accounts. YouInvest accounts are clearly self-directed accounts.
If in deed CPC bonus has to be fee based, you can still wait for 3 months to get bonus and pay the fees for 3 months. Then move your money into YouInvest accounts and still keep CPC status. My banker stated clearly this can be done.