Venomz

Yes I applied as a Cpc and was given the 100k signup bonus after the conversion.

I have over $100k with chase exposure in CC's lol, they will lose all my business if they take my Reserve away from me

flyinzach

No, it was told to me by my client manager months ago. Maybe was the first on flyer talk internet forum. Either way, when they're converting Palladiums to JP Morgan reserve with no other Chase relationship as we speak, I'd have to see something verifiable before worrying folks that Chase is sending them $450 and a return label for their card unless they're CPC or better. Downgrading the 'fax folks', maybe, but also kinda question it. Seems a waste or resources than I am paying for :/

dlesin

If you're cpc you will be fine, the targeted crowd for the purge (this one at least) is those with no banking relationship whatsoever other then CC's

dlesin

They never shutdown the Palladium because once it was so heavily diluted there was no purpose served by doing so. The difference with the JPMR is the fact that the numbers have dwindled of these loophole apps making it a simpler process to manually review and shut them down. My coverage guys know I couldn't give less of a damn over the exclusivity, all having the JPMR did was essentially increase my concentration risk with JPM it's the equivalent of them throwing me a bone with a cool card because I got it hand delivered a week before it was announced. I'm more happy being placated by personal things like hand written cards from Mary or Jamie at Christmas time then I am wallet candy. They have the intent to broaden the range of benefits once they narrow down the amount of card holders, that comes straight from their head of PB for the US

flyinzach

I'll have to see the broader range in benefits on such a limited product after release to believe it. Not to say i wouldn't be very happy to be proven wrong on this one..LOL. PB always touting how amazing and exclusive things are going to be for us, that's their job! My source above global wealth management with Chase and knew of card before PB had it in hand (though I expected it to look different than Palladium). I recall when my JMP relationship manager said they were going to force CPC to stop issuing and take back Palladiums as it was "their" card. We know how that turned out. And again, above the PB's top echelon, not a dime lost in revenue collecting annual fees, and I believe if more had the Palladium, it would have become more attractive for the ever promised 'broadening range of benefits and services for Palladium', but that's speculative. Time will tell. Quite honestly, CSR is Chase's success story of the year in CCs. And if they're spending enough and taking time to manually go through a bunch of applications, I want a reduction on my AUM fees.

halfleafclover

Actually that was me, I called the name in post 3

Jokes aside I can see them closing all the loophole applications (from Pal. to JPMR). Note this would not include CPC. Essentially it's bringing things back to how "they should have been."

sfeater

Rumors of a new product have been circulating for years

sfeater

I think the way "they should have been" doesn't include CPC, but they don't want to piss off the ones that slipped through, whereas they'll have no qualms about product changing and possibly annoying customers without either a JPM PB or CPC relationship.

Chase knows how popular and useful the CSR is, so anyone who says he'll stop using Chase credit cards is either making an empty threat or foolish.

Boraxo

Have to assume that will be the case. It would not be good for business to close existing PD accounts that were legitimately opened by CPC bankers and in some cases have been open for years. If in fact JPM wanted to terminate these accounts it would be much smarter just to convert them to CSR when the AF is due.

bribro

Not sure what happened mia, but you're quoting something I never wrote.

It's pretty unlikely that a Chase employee would be fired for advocating for his/her client, but to go around protocol like that in this banking regulatory environment (with all financial services employees under a microscope) was bold and should be recognized by the client.

If that CPC banker had to spend "a hour looking" for how to submit an app, it's effectively a loophole. There's a reason CPC bankers don't know anything about the JPMR, because it isn't meant for Chase clients.

JPMR cards aren't "approved by JPM", they are approved by Priority Services, a special group within Card Services that is technically part of the Chase retail bank. These people probably aren't too familiar with CPC vs. JPMPB, and just assume that the credit card apps that come their way got there through the appropriate channels. If anything, JPMC needs to not only plug the leaks for how JPMR apps are submitted, but better train Priority Services to auto-reject non-JPM affiliated clients.

You're talking about the J.P. Morgan Law Firm program. I have a few attorney friends that are a part of that and you're wrong, they are all individually J.P. Morgan clients (at least for now), that's the entire point of the program. JPM Law Firm clients get all the perks of a "regular" JPM Private Bank client, including JPM bank/investments accounts, in hopes that they'll make partner and be big AUM clients in the future. Pretty much all the big wealth management players have a similar program.

I've heard a few people say this, but it doesn't make any sense to me. Why would JPMC leak a JPMR PDF application on a no-name blog (run by some guy who put out a cringeworthy unboxing video) and overwhelm their Priority Services division with bogus apps? If anything, JPMC would have done the leak through their preferred blogging partner TPG, who did have one vague article about the JPMR.

You must have a heck of a "source" since the person directly "above" GWM is Mary Erdoes, the CEO of J.P. Morgan Asset Management, and her boss is Jamie Dimon.

Agreed. The few CPCs that managed to get the JPMR should be allowed to keep it. Too messy to downgrade them. Everyone else can be easily cut and even punished with further AA.

It is laughable when people threaten to boycott JPMC because of some perceived credit card wrong. JPMC couldn't care less about the feelings of credit card churners.

NewYorker545

Dlesin, in terms of broadening the range of benefits, are you talking about the JPMR or the Pd card?

flyinzach

Interesting replies, but mostly inaccurate. You've become argumentative on this thread.

bribro

Great counterpoint here, but everything I said is 100% accurate and can be easily corroborated.

But you're right, I have gotten argumentative on this thread, and while fun at times, I am getting tired of correcting all the misinformation. So I'll exit this thread and stick to trading PMs from now on. Cheers.

schalliol

Moving on…

Is there a clickable directory somewhere of all the ancillary partner offers we can get through JPMR? Obviously United Club is one, but it's not clear where and how to access the car rental programs, hotel programs, etc. I know the book mentioned these, but it's still not simple and there may be more that aren't advertised or are simply offered by the third party.

If there's no such list, perhaps we could start one here.

sfeater

The facts he listed should be fairly easy to prove wrong. Care to elaborate what's inaccurate?