Amex (USA) Centurion vs JPM Reserve comparison
Aug 25, 2021, 2:41 pm
#1
Original Poster
Join Date: Mar 2017
Posts: 153
Amex (USA) Centurion vs JPM Reserve comparison
Please advise, as my understanding is (aside from the United Club access) the benefits are the same as the Sapphire Reserve, and you need to invest $10M with Chase Private Bank (= high fees you're paying them to manage your money each year, well in excess of $5K per year, probably several hundred thousand, when you'd probably get better performance in index funds).
That being said, Shadowfactor's rep is pulling his leg. They are always giving Bus Cent invites, and it's the discretion of the rep to allot based on his judgment which, as you may imagine for a commissioned salesperson, is probably targeted to getting new spend in place versus rewarding existing spend.
That being said, Shadowfactor's rep is pulling his leg. They are always giving Bus Cent invites, and it's the discretion of the rep to allot based on his judgment which, as you may imagine for a commissioned salesperson, is probably targeted to getting new spend in place versus rewarding existing spend.
Last edited by mia; Aug 25, 2021 at 8:04 pm Reason: Formatting
Aug 25, 2021, 3:35 pm
#2
Join Date: May 2012
Posts: 605
"You'd get more value from the JP Morgan Reserve card." Please advise, as my understanding is (aside from the United Club access) the benefits are the same as the Sapphire Reserve, and you need to invest $10M with Chase Private Bank (= high fees you're paying them to manage your money each year, well in excess of $5K per year, probably several hundred thousand, when you'd probably get better performance in index funds).
That being said, Shadowfactor's rep is pulling his leg. They are always giving Bus Cent invites, and it's the discretion of the rep to allot based on his judgment which, as you may imagine for a commissioned salesperson, is probably targeted to getting new spend in place versus rewarding existing spend.
That being said, Shadowfactor's rep is pulling his leg. They are always giving Bus Cent invites, and it's the discretion of the rep to allot based on his judgment which, as you may imagine for a commissioned salesperson, is probably targeted to getting new spend in place versus rewarding existing spend.
Aug 25, 2021, 5:38 pm
#4
Join Date: Mar 2009
Location: PHX/NYC/LA
Programs: AA Plt, Marriott Gold, National EE, Hertz PC, El Mambero De Mucci, PWP Aide to Generalissimo Godot
Posts: 4,893
With where fees are these days, even for high end Private banking, AUM fees rarely go over 1% if at all. The money comes from other products like Collateralized Lending of Investments assets and other services.
Aug 25, 2021, 5:43 pm
#6
Join Date: Apr 2021
Location: Manhattan, Palm Beach Island, San Francisco, Boston, & Hong Kong
Programs: Lifetime United Global Services, Delta Plat, Hyatt Globalist, Marriott Ambassador, & Hilton Diamond
Posts: 3,165
"You'd get more value from the JP Morgan Reserve card." Please advise, as my understanding is (aside from the United Club access) the benefits are the same as the Sapphire Reserve, and you need to invest $10M with Chase Private Bank (= high fees you're paying them to manage your money each year, well in excess of $5K per year, probably several hundred thousand, when you'd probably get better performance in index funds).
That being said, Shadowfactor's rep is pulling his leg. They are always giving Bus Cent invites, and it's the discretion of the rep to allot based on his judgment which, as you may imagine for a commissioned salesperson, is probably targeted to getting new spend in place versus rewarding existing spend.
That being said, Shadowfactor's rep is pulling his leg. They are always giving Bus Cent invites, and it's the discretion of the rep to allot based on his judgment which, as you may imagine for a commissioned salesperson, is probably targeted to getting new spend in place versus rewarding existing spend.
JPM is very unlikely to extend a PB relationship to someone unless they’re privy to some underlying wealth for that person. I reckon the **average** amount of assets invested in JPM PB to be deep 8 figures. However, there is no hard asset requirement. I know someone with less than $1m invested with JPM PB. If they’re privy to some aspect of your financial life (ie underwriting your commercial real estate, working with you on IPOing/selling your company for 8 digits+, etc), it is pretty easy to get an invite. Overall, their fee structure for everything is pretty uncompetitive and, at a certain point, it’s probably better to just form your own single family office. This goes without saying but the JPM Reserve shouldn’t even be a consideration for a prospective customer.
In terms of card benefits… there’s not much. It’s a hidden line of credit and has a UR sub that doesn’t count as a sapphire sub. However, it is not a sapphire card (so you can hold it with a CSP). That means it won’t get you into places that require a sapphire card like the NYC Sapphire lounge in the Seaport district. You do get United Club access (worthless IMO) but I don’t think you can even bring guests. JPM seems to willing to waive the annual fee if you ask nicely enough but won’t commit to it long term. IDK why lol.
It’s a cool card though. Subjectively, I think people do care. And, unlike the Centurion, it has reasonable multipliers on dining and travel (where I am likely to use the card). I still think it’s ridiculous that people give credit cards social meaning in the US but I’ll play the game if I have to.
TL;DR: the JPM Reserve is way easier to get than the Centurion and it’s not even close
Aug 25, 2021, 7:23 pm
#7
Join Date: Jan 2013
Location: Hawai'i Nei
Programs: Au: UA, Marriott, Hilton; GE
Posts: 7,128
Aug 25, 2021, 7:32 pm
#8
Join Date: Jan 2013
Location: Hawai'i Nei
Programs: Au: UA, Marriott, Hilton; GE
Posts: 7,128
I have the JPM Reserve. You don’t need $10M invested with JPM. I don’t know where people keep pulling that number from. It’s so random lol. Why not say $15m? Why not $5m? I’ve seen it all over the internet but, as far as I can tell, that number is completely arbitrary. Anyone with a JPM private banking relationship (which is completely different from Chase Private Client) can request the card. Again, Chase Private Client has nothing to do with the JPM Reserve and frankly **almost** nothing to do with JPM. They are firewalled off from each other and target completely different clients. Almost anyone can become a customer of Chase Private Client.
JPM is very unlikely to extend a PB relationship to someone unless they’re privy to some underlying wealth for that person. I reckon the **average** amount of assets invested in JPM PB to be deep 8 figures. However, there is no hard asset requirement. I know someone with less than $1m invested with JPM PB. If they’re privy to some aspect of your financial life (ie underwriting your commercial real estate, working with you on IPOing/selling your company for 8 digits+, etc), it is pretty easy to get an invite. Overall, their fee structure for everything is pretty uncompetitive and, at a certain point, it’s probably better to just form your own single family office. This goes without saying but the JPM Reserve shouldn’t even be a consideration for a prospective customer.
In terms of card benefits… there’s not much. It’s a hidden line of credit and has a UR sub that doesn’t count as a sapphire sub. However, it is not a sapphire card (so you can hold it with a CSP). That means it won’t get you into places that require a sapphire card like the NYC Sapphire lounge in the Seaport district. You do get United Club access (worthless IMO) but I don’t think you can even bring guests. JPM seems to willing to waive the annual fee if you ask nicely enough but won’t commit to it long term. IDK why lol.
It’s a cool card though. Subjectively, I think people do care. And, unlike the Centurion, it has reasonable multipliers on dining and travel (where I am likely to use the card). I still think it’s ridiculous that people give credit cards social meaning in the US but I’ll play the game if I have to.
TL;DR: the JPM Reserve is way easier to get than the Centurion and it’s not even close
JPM is very unlikely to extend a PB relationship to someone unless they’re privy to some underlying wealth for that person. I reckon the **average** amount of assets invested in JPM PB to be deep 8 figures. However, there is no hard asset requirement. I know someone with less than $1m invested with JPM PB. If they’re privy to some aspect of your financial life (ie underwriting your commercial real estate, working with you on IPOing/selling your company for 8 digits+, etc), it is pretty easy to get an invite. Overall, their fee structure for everything is pretty uncompetitive and, at a certain point, it’s probably better to just form your own single family office. This goes without saying but the JPM Reserve shouldn’t even be a consideration for a prospective customer.
In terms of card benefits… there’s not much. It’s a hidden line of credit and has a UR sub that doesn’t count as a sapphire sub. However, it is not a sapphire card (so you can hold it with a CSP). That means it won’t get you into places that require a sapphire card like the NYC Sapphire lounge in the Seaport district. You do get United Club access (worthless IMO) but I don’t think you can even bring guests. JPM seems to willing to waive the annual fee if you ask nicely enough but won’t commit to it long term. IDK why lol.
It’s a cool card though. Subjectively, I think people do care. And, unlike the Centurion, it has reasonable multipliers on dining and travel (where I am likely to use the card). I still think it’s ridiculous that people give credit cards social meaning in the US but I’ll play the game if I have to.
TL;DR: the JPM Reserve is way easier to get than the Centurion and it’s not even close
1. "Anyone with a JPM private banking relationship (which is completely different from Chase Private Client) can request the card."
2. "JPM is very unlikely to extend a PB relationship to someone unless they’re privy to some underlying wealth for that person. I reckon the **average** amount of assets invested in JPM PB to be deep 8 figures.
3. JPM Reserve is way easier to get than the Centurion and it’s not even close..."
Are there not more Centurion holders than JPMR holders? At least that has been the speculation I have heard when this topic has been discussed. Seems feasible as it is way easier to spend money (often OPM) than save and invest it. Also, those with deep 8-figure investable assets constitute a very rarefied strata.
Aug 25, 2021, 9:10 pm
#9
Join Date: Apr 2021
Location: Manhattan, Palm Beach Island, San Francisco, Boston, & Hong Kong
Programs: Lifetime United Global Services, Delta Plat, Hyatt Globalist, Marriott Ambassador, & Hilton Diamond
Posts: 3,165
At the risk of straying too far away from Centurion topics, I am a bit confused about your statements above that essentially say:
1. "Anyone with a JPM private banking relationship (which is completely different from Chase Private Client) can request the card."
2. "JPM is very unlikely to extend a PB relationship to someone unless they’re privy to some underlying wealth for that person. I reckon the **average** amount of assets invested in JPM PB to be deep 8 figures.
3. JPM Reserve is way easier to get than the Centurion and it’s not even close..."
Are there not more Centurion holders than JPMR holders? At least that has been the speculation I have heard when this topic has been discussed. Seems feasible as it is way easier to spend money (often OPM) than save and invest it. Also, those with deep 8-figure investable assets constitute a very rarefied strata.
1. "Anyone with a JPM private banking relationship (which is completely different from Chase Private Client) can request the card."
2. "JPM is very unlikely to extend a PB relationship to someone unless they’re privy to some underlying wealth for that person. I reckon the **average** amount of assets invested in JPM PB to be deep 8 figures.
3. JPM Reserve is way easier to get than the Centurion and it’s not even close..."
Are there not more Centurion holders than JPMR holders? At least that has been the speculation I have heard when this topic has been discussed. Seems feasible as it is way easier to spend money (often OPM) than save and invest it. Also, those with deep 8-figure investable assets constitute a very rarefied strata.
The average amount invested probably skews very high but the **minimum** amount (which is right after the second quote you took from my post) is probably very low. There are data points for people with under $1M invested with JPM private bank. According to a quick Google search, there’s almost 10 million multi-millionaires in the US. That’s definitely not everyone but it’s nowhere near as exclusive as most claim.
You really just need a connection to the firm to get access to the card. IPOing your tech company with JPM capital markets? Welcome to JPM Private Banking!
Either way, $10M is a random number. As someone with the JPM Reserve that wants the Business Centurion (for the 2 cents / MR fixed redemption), I admit I could be biased in saying that the JPM Reserve is easier to get than the Centurion.
