fanofwigs

Status aside, I'm just excited for the 3x dining

mia

Discussion of JP Morgan Select card is here:

http://www.flyertalk.com/forum/chase...signature.html


Discussion of the "Reserve" product name has been consolidated here. Please do not cross post the same information or question in more than one thread or forum.

http://www.flyertalk.com/forum/chase...erve-card.html

United747

I think most banks use the term "investable assets". Which sounds a lot like liquid to me.

AAdmiral

mia,

Can you explain? There are two different products. One is the Chase Sapphire Reserve that is being discussed on the other thread and what we are discussing here is related to the JP Morgan Reserve which shares the "Reserve" part but seems to be targeted to JPM Palladium card holders and therefore a different product.

AAdmiral

Looks like the JPM Palladium Card is no longer on the Chase Private Client (CPC) credit card page anymore. It now shows the Chase Sapphire Preferred (CSP) and the Chase Sapphire Reserve (CSR) cards.

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

Click on the circle second to the left that says credit card and it will show the CSP & CSR below.

AAdmiral

Just found this page regarding JPM Reserve / Palladium card. It shows the JPM Palladium card but with Infinite on the card but the references seem to be regarding the JPM Reserve card.

https://www.chase.com/card-benefits/jpmreserve/travel


I just checked my physical JPM Palladium Card and the only reference to Palladium is on the back. It says "Your card is constructed with Palladium". So from the link above which still show similar card, I wonder if JPM will use same hardware and just change the name once it shifts to JPM Reserve VISA Infinite.

edwardlai

I just called the number at the back of the card, and was told that we may need to wait until next month for the Palladium Card update.

MDJennings

Looks identical to the benefits listed in that PDF for the CSR. If some of the sources are correct that this thing will have an $1,800 AF, then JPM is truly trying to cull the herd.

Link to CSR's page for comparison: https://www.chase.com/card-benefits/...reserve/travel

csol47

Something definitely doesn't add up to justify a substantial fee increase. I don't imagine that they're particularly inclined to alienate customers who are willing to pay a premium over the CS(R) and are grandfathered in regardless of banking relationship. It would be poor form as those customers might be less inclined to bring more money over later on. I'm sure they've considered this particularly with the current segment of clients who have less than 10MM AUM but greater than 5 who will be seeing their level of service otherwise downgraded early next year. We'll just have to see how this plays out. I'm of the camp that would be happy to upgrade if it was to my advantage. I get more than $600 in value from the PD. They could raise it to 5k whether or not my banker waived the fees as long as the personal net value was above that. Otherwise there are better things to do with the money. I can't imagine what they could offer that would be worth an 1800 fee, maybe 1k+top tier Marriott/ritz+fairmont, already Hyatt diamond and prefer boutique hotels regardless. But at the very least the airline status. Which given the small number of cardholders probably won't significantly dilute the playing field.

Shaw Yu

Just call the palladium concierge, and transfer to someone who said I can upgrade your Palladium Card to JPM reserve Card (Visa Infinite), and when she said the AF is $450, I realized that she lie to me.

I stopped her because I have already get approved CSR on 8/15. And she said you could still keep palladium card (Visa Signature) and use it.

I think this link is not for New Palladium Card but try to confuse you transfer product.

https://www.chase.com/card-benefits/jpmreserve/travel

MDJennings

They might be raising the fee first without delineating it from the CSR in order to drop the card holder count before coming back and adding more benefits later to match the AF. If that was truly their goal, it would be a smart move since only the most materialistic/image-conscious people would choose it over the CSR at triple the price with currently zero additional benefits.

As other posters have previously said, those that they would piss off probably shouldn't have been in the Palladium program to begin with.

halfleafclover

Perhaps, but with the way this is going I would much rather express my dissatisfaction with the "new" card and generously forgo my ~$2k fee waiver in while negotiating a 0.1% reduction in management fees. After all if I'm giving up the cardI should get something else.

Then I'll take my 100k CSR bonus, thank you very much.

csol47

Perhaps. It is also possible that the palladium will remain a separate product that is grandfathered. At lot of the clientele fly private and own multiple properties so any retail benefits on that end are mostly negated. There are billionaires who use a green Amex. Heavy spenders but don't care about benefits. I have family like that. And the ones who are that set on it aren't necessarily the clients they want to have regardless, as they are often the ones mismanage their funds and go bankrupt. 90% of JPM clients from what I'm told have 100MM or more under management. Having known some people who are that well off the reaction would be something like "oh that's nice", and if they happened to have a megalomaniacal tendency they might actually use it. It's only the ones they would think they could sap more money out of that are the most likely to bite, which of course is the point but it doesn't go as far as they could be to keep the clients happy. I would imagine that regardless the annual fee increase will probably not be immediately active, which assumes there will be any sort of forced upgrade/downgrade at all and not a separate product. I think a lot of clients would prefer a reduction in management fees over a fee waiver unless it substantially benefited them. That said it would be nice to see them offer something higher tiered for people who would use it but for a private banking client they would be better served custom tuning that to their needs, not just offering a cookie cutter product. To me that would go further in building a relationship.

MDJennings

They could easily make the argument that both the CSR and the JPMR are superior products than the Palladium simply due to the points earning structure. If you don't want to pay a higher fee than you currently are with a Palladium, you can get a lower AF card with the exact same benefits as the JPMR. So what exactly would you be giving up?

It's possible the JPMR will be nothing more than a vanity license plate.

fanofwigs

hmmm interesting point