meraki

I've found almost all the big banks have similar private client privileges, BoA, Chase, US Bank. If the only reason why you wanted to be CPC is to try to get 5/24 overriden, it's no longer worth it, especially with the 100k offer expiring as of Thursday.

misterno

Can someone enlighten us if CPC is no longer working to bypass 5/24 rule?

JayBird0711

My wife applied for Reserve in branch this past friday. She is way over 5/24 and CPC. Got message after rep submitted application that the decision would be by US mail in 7-10 days.

JayBird0711

Denied. Got the letter today. "Too many credit cards opened in the last two years associated with you"

Dr Jabadski

FWIW: No joy for me recently with a Chase application despite my recon call. Private Banker told me the current procedure was for him to call recon while I was there in case they had questions for me, he implied that he called a different number/department. Made the time to visit the bank, he made the call while I was sitting at his desk, still no love. They didn’t even speak with me. In a 2-3 minute phone call he was told I should re-apply 1 year and 1 day after my most recent application. (So, in addition to the failed application, completely wasted time visiting the Chase branch.) I’ve been WAY over 5/24 for about 15 years, joined the Private Client program about a year ago specifically to get past 5/24, worked perfectly for 2 applications last year. According to the Private Banker, Chase changed policies a few months ago and 5/24 is now an automatic, non-waivered no-go for Private Clients (just like all others). He said there might be some wiggle room for business cards.

(BTW, what self-respecting Flyertalk "points-and-miles credit card enthusiast" would EVER be less than 5/24 these days and not make an application for a year and a day? )

dordal

Does anybody have an SF Bay Area private banker that they particularly like ( responsive, competent, etc.)?

I'm thinking pretty hard about signing up for CPC, but I need to actually find a good banker, because not everything I need to do is going to be self-service. Please post or PM me directly.

rxgeek

I received an email from Chase with the text:You now qualify for Chase Private Client.We are pleased to let you know that your business account now qualifies you for Chase Private Client, where you'll enjoy upgraded personal banking benefits and expert advice
However, when I visited my local branch they told me to look at the very bottom of the email which states in fine print:
IMPORTANT INFORMATION
* Available to individuals who maintain an average daily balance of $250,000 or more in any combination of qualifying identified depositsa and investmentsb. If total balances in qualifying deposits and investments do not meet the Chase Private Client requirements, Chase may contact you to help determine an alternate Chase product.

I never would have bothered to pursue this if I didn't get this email. Thoughts?

dordal

I'm confused. You got an email about CPC, went to the branch to investigate, and then decided not to do it? And now you're mad at Chase for making you go into the branch?

rxgeek

Not exactly. I got an email stating I was qualified, then I wasn't.

dordal

You'll qualify if you're planning to bring that level of assets to Chase, even if you don't have it yet.

Kind of annoying they sent you an email before you had that much, but you can still get it if you want it. You just need to plan to bring the rest of it over within some number of months.