JP Morgan Palladium Card
#2581
Join Date: Nov 2009
Location: LAS/GRU/DUB
Programs: Amex, JPMR, Nexus
Posts: 365
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.
Last edited by greglvnv; Aug 6, 2016 at 1:05 pm
#2582
Join Date: Apr 2001
Location: MIA LAX GIG, AA CK
Posts: 211
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.
#2583
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
#2584
Join Date: Jan 2014
Posts: 113
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.
#2585
Join Date: Apr 2001
Location: MIA LAX GIG, AA CK
Posts: 211
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.
#2586
Join Date: Jul 2016
Posts: 141
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.
#2587
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
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.
#2588
Join Date: Aug 2016
Posts: 5
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.
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.
Last edited by Shaw Yu; Aug 7, 2016 at 10:19 am Reason: add something.
#2590
Join Date: Apr 2001
Location: MIA LAX GIG, AA CK
Posts: 211
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.
#2591
Join Date: Jul 2016
Posts: 141
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.
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.
#2592
Join Date: Apr 2001
Location: MIA LAX GIG, AA CK
Posts: 211
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.
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.
#2593
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958