Additionally, many of us carry multiple cards with relatively high annual fees, so if all your fees add up to, let's say $3000 a year then we are looking for ways to reduce that number or at least get the most benefits out of it. It's about cost versus benefits.

I think what might be JP Morgan Chase's goal is to cull the herd regarding the JPM Palladium Card. The original intent of the Palladium Card was to offer a premium product for JPM Private Bank clients. People found a loophole and were able to apply for the card without having any relationship with JPM PB. Then the retail bank side of Chase started offering the Palladium Card to Chase Private Client customers. I think now with the Chase Sapphire Reserve card coming out, JPM Chase would like to migrate current CPC clients with the Palladium card to the CSR and make it once again a JPM Private Bank product. I don't think that most Palladium card holders who are JPM PB clients would cancel their cards for the CSR. Since I don't think that they can force migrate customers from Palladium card to Chase Sapphire Reserve they might offer the some kind of bonus to entice people to make the switch and bring the Palladium card back to its original intent of being a JPM PB product.

What would be the obstacle? Citi forced transitions from Chairman MasterCard to Prestige MasterCard.

My thoughts exactly. Chase is playing it smart. Those part of the private bank with high-teen millions under management aren't going to change to another bank because of a card, it's the advisor that matters. But by playing the silent waiting "cull the herd and benefits will come" game, Chase will keep getting the fat Palladium fees while offering less than sapphire reserve benefits.

When Citi forced the product change from Chairman MC to Prestige MC were any card holders allowed to keep the Chairman MC or were all Chairman MC card holders transitioned to the Prestige MC? What I was speculating is that JPM Chase doesn't necessarily want to get rid of the JPM Palladium Card but merely shrink the number of card users. I don't think they can arbitrarily decide who would be forced to transition to the CSR from the PC and who would get to keep it as this would probably violate some credit card law or act.

Agree. I hope they keep the Palladium card. There's no downside to it. It must have been a pain to maintain the card for such a small population, but now it'll be cost-effective because they can (and should) merge the Sapphire Reserve benefits into the Palladium. Then, they just need to add a few extra perks for Palladium (which already exist), and they'll have a special card for their JP Morgan clients.

To my knowledge all Chairman MasterCard accounts were migrated to Prestige MasterCard. There is an Amex-network version of Chairman. These Amex accounts have not been converted to Prestige (there is no Amex version). I think this has more to do with Citi's contract with American Express than with the cardholders. Legally, after the first year I think an issuer can do whatever it chooses.

It will be interesting (for me) to see if Chase abandons the JP Morgan brand for credit cards or if they raise the annual fee and take a pass at competing with American Express Centurion. I don't see any point to having both a $450 card and a $595 card.

Palladium Card was officially shows on Chase Private Client Website? So It is not only for JPM PC right now.

https://www.chase.com/online/private...ge-banking.htm

Also If Palladium Card change to CSR, how about the hiding Credit line? And Private Jet benefits? To someone, the unlimited Credit line is the priority. The CSR could not replaced Palladium Card. Not like Prestige Card and Chairman Card in Citi-Bank, Chase-Palladium and Chase-Sapphire-Reserve are totally different product.

The Annual fee for Palladium is the Money (low rate) you loss in CPC Saving account (250k in discover saving account is $2500 per year) plus the $595, that is larger than Amex-Centurion Card.



Originally Posted by mia View Post
What would be the obstacle? Citi forced transitions from Chairman MasterCard to Prestige MasterCard.

Yes, I concur with both points.

That was the point I was trying to make. How does JPM Chase pull back the Palladium Card so it becomes strictly a JPM Private Bank product and no longer a Chase CPC product or even in some cases people with no relationship with JPM Chase at all regarding banking. I believe one way would be to raise the annual fee structure. Example would be as of Jan 1, 2017 or whatever minimum date required under law the new annual fee would be $2500 with no relationship with Chase banking, $1500 for Chase CPC clients, $1000 for JPM Private Bank clients. I believe that this would have the same effect as I mentioned in an earlier post of JPM's attempt to cull the herd. Only the most die hard holders of the card would keep it with such a high fee structure unless they were JPM PB clients. JPM Chase then could offer to migrate Chase CPC clients and non Chase banking customers to the new Chase Sapphire Reserve Card. I have the Amex Centurion and was told when I first got the card in 1999 that my annual fee would be $1000 as a charter member but now the fee is $2500. We know that some people found the increase of $1500 a year too much and canceled the card or down graded to the Platinum Card.

I would also like to see JPM Chase reposition the Palladium Card to be a true competitor to the Amex Centurion and the Chase Sapphire Reserve be the equivalent of the Amex Platinum Card. The only way I believe this can be achieved is by raising the annual fee as I mention above. Obviously JPM would need to add more features to the card like a full lounge membership published as a benefit which would be the United Club since they have a relationship with United. Also they would need to offer elite hotel status with their partners such as Marriott, Hyatt, IHG, Fairmont Hotels since Chase issues all of the above credit cards for the respective hotel chains. Elite airline level with United and/or British Airways would be another feature needed. This would start to truly put the Palladium on par with Amex Centurion. Add Avis Chairmans Club membership to counter Amex Centurion Hertz Platinum and we have a true competitor. Obviously these are some of the things on my wish list for making the Palladium Card better. Adding these benefits or some would make paying a higher annual fee justified.

I'm ok with a higher annual fee but they should start with making sure the Palladium gets basic benefits that the Reserve will get. For example, 3x on travel and dining. If you're going to be paying a high AF, you want simplicity. You don't want multiple cards for no reason. Right now, Palladium doesn't even have 2x on dine, as Preferred has. Pretty pathetic.

IMO, lounge status is overrated. Every "highend" card gets you lounge status these days. And you can just pay for a yearly membership. United is only good for domestic.

Better is airline status, if they can swing it. I'm not big on hotel status at boring chain hotels, especially the likes of Marriott and Hyatt, or even IHG and Fairmont. Much better would be annual black status at GHA or similar for unique boutique hotels. I find rental car status to be useless and a gimmick.

I agree. the "new" Palladium Card should start with all of the basics that the new Chase Sapphire Reserve offers as well as some of the benefits of the new Ritz Carlton Visa Infinite Card and then build on from there.

Remember that AMEX Centurion & Platinum offer access to Delta. And Citi Prestige currently still offers access to American until summer of 2017. JPM Chase needs to match that with access to United. Remember they would only need to offer that when flying United if they want to match AMEX Centurion & Platinum card and Citi Prestige Card. Also they should offer PP with free guests to the JPM PC card.

AMEX Centurion offers status with SPG, Hilton, & IHG. JPM would do good if they would offer elite status with Marriott or Ritz Carlton since they use the same base rewards program. Also if the could offer status in all hotel chains they currently offer co-branded card that would be a plus as well. Having these levels means free wifi, breakfast and in some cases lounge access and upgrades. Return to GHA Black would be great as that option only lasted one year. If they expect the card holder to pay high fees it needs to come with many more benefits. And lastly I have benefited from Hertz Platinum free membership from AMEX Centurion. The fact that they pick you up at baggage claim and drive you in the rental car back to airport so you avoid taking the bus is great and worth it to me. If JPM PC could offer the equivalent with Avis or another rental car company it would but it on par with AMEX Centurion which is the main competition in my opinion.

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