Originally Posted by
dolmar
Update called my PB and asked about card and told him some one on the interest posted he had the card etc.
If you are issued a "Charter Memeber" Card then you $5 million + in managed money via a retail SB branch. Charter Member Cards have no annual fee and are issued to all people who used to get free MC version which was old level called "Private Wealth Management" before Smith Barney got rid of all these levels at SB. SB retail branches now only have 3 levels Basic Customer under $100K, Prefered Client under $500K and Reserved Client over $500K.
[snip]
Well, FWIW, I got the invitation package today. It's awfully vague, although the 30k bonus ThankYou points upon switching to Amex was a surprise.
And the "Charter Member" stuff is not restricted to $5mm+ SB customers
. I've got a few SB accounts, but they don't aggregate to anywhere near that level, and I don't have a private banking relationship. I think it's just to get us to switch. Now, your banking status may eliminate the $500 annual fee, but there will be lots of low-rent "charter members" slumming it up.