rizwank

Theres this comment on credit card forum :

I actually just applied for this card as a regular customer from chase.com and I got approved. I had to fill out an app and fax it over to them they didn’t ask my for any bank statements or anything like that. I don’t know what the whole hype is about it that you have to have 5 million in the bank or private banker. I have a feeling they are giving out the card easy now and then in a year from now they are going to make it exclusive like American express centurion, whom they let everyone apply in the beginning and then they made it by invite only.

That's an interesting idea. I'm tempted to look at this card instead of. My AMEX plat, which I appreciate, but mostly use for concierge at this point. So many other cards in my pocket give me better mileage options than the platinum. An even more powerful concierge might be worth it - plus I'd rather rack up UR rather than MR points at this point.

Anyone else thinking/already opted for this over platinum?

jspira

I will check although I'm not sure I should post the answer either way - it could cause a run on Palladium card apps if the answer is affirmative.

UPDATE: and the answer was a very apologetic "no"

mia

I think it's the other way around. The card started out "exclusive" to JP Morgan clients, didn't achieve their objectives, and has now been opened. Citi did the same with their Chairman card. Any bank that seeks to compete with American Express faces the same problem, they need a critical mass of cardholders to be able to spread the cost of benefits. At first they will subsidize the benefits and run the card at a loss, but at some point the product has to generate a profit.

rizwank

Interesting... although there are earlier reports on the web about the exclusivity not being as exclusive as it seems...

At the moment, the deal package with the card falls just a bit short; and while I want to hate on my Platinum, re-reading the list of benefits online; it is a handy set.

Man, I love me some great concierge though.

5DMarkIIguy

I got the application sent to me via email. Thought there would be a number where I can fax it in, but it's not there. What number do you guys use to fax in your application?

TIA

jspira

I scanned mine, pw protected it, and e-mailed it to my banker.

crimson12

Too bad! That itself would have been worth the annual fee!

rizwank

Mind asking if they provide access to the China Club in Hong Kong?


For everyone else : where did you apply directly from? Have you found it worth it? In a case like this -- if they end up upgrading the card abilities later; do they usually upgrade it for existing members?

mlad1101

Have to add.. I too, am very impressed with the conceirge. I called last minute for Valentines Day dinner reservations at a restaurant in NYC that was booked up the whole night and couldn't accommodate me when I had called them directly. Called Palladium, was put on hold while they called and told no go. I told him give me a call later with some likewise options. Missed the call about two hours later and when I checked the voicemail he said he had called back again and had spoken to the GM and persuaded them to make some room for me at the exact time I initially requested. ^

pointspinnacle

i havent read through this whole thread but was it brought up that one of the features is purchases through ultimate rewards site are worth 50% more?

i didnt realize that one. Pretty nice. So $1000 flight is only 50,000 points

mia

Where do you see this? I believe it means that if you book paid travel through Ultimate Rewards you will earn 3 points per dollar rather than 2 if booked elsewhere.

pointspinnacle

Not a secret, points worth 50% more when booking thru the ultimate rewards site. I admit i didnt know that either. Makes your points worth double if booking thr UR.

5DMarkIIguy

I have both Palladium and Amex Plat. Recently, I put both to tasks

1. Book a Ritz Carlton room for a few nights
2. Book a Michelin 3-star restaurant prime time on saturday

Task 1:
Amex Plat:
I can use Amex FHR online to book the room easily. It includes breakfast, upgrade at checkin, $100 food credit, early checkin, late checkout. Price is the same as whatever RC is charging on its website.

Palladium:
I have to call Palladium concierge for this one. "Rest assured, we have a very special connection with the Ritz Carlton chain and can get you the best amenities." Later, I got an email, quoting me a rate that is the same as the breakfast rate RC is charging. The amenities are: breakfast, upgrade at checkin, early checkin, late checkout. No $100 food credit. Higher rate than Amex FHR.

Task 2:
Amex Plat:
Done! With the exact time I want.

Palladium:
Couldn't secure a table even with a 2 hrs range. The sad part is I gave them almost a day headup. Both concierge came back at the same time. Palladium just couldn't do it.

With all of the hotel/airlines relationship Chase has, the Palladium should blow Amex out of the water. The restaurant is one thing, but the Ritz?


One thing I must give credit to Palladium is they are very professional over the phone. Much more than Amex concierge and asked the right questions that made me think they would be able to do it.

mia

Help us out and post a link to where this is mentioned. I cannot find it.

pointspinnacle

Hi MIA, i cannot link you to it unfortunatley. However if you go to your local branch and ask your banker to perhaps read the benefits to you off there system you can confirm. If your in Miami i believe there are branches down in south florida.

Its a nice feature so I am not sure why they dont market it better?