dlesin

More or less, it'll be between 37-45 basis points over Interbank and it's up to the computer that process the conversion. No real rhyme or reason to it from what I know. Supposedly the exchange is more favorable based on your relationship with the bank but I find it to be Utter BS since I can't see any evidence of it from speaking to people about it.

Don't even bother disputing. If the merchant can come back with a signature on any paperwork or even an unsigned paper showing an invoice you will lose the dispute and once you try to appeal 9/10 times they auto report to CB's that you're not paying on your obligations and your credit score is dinged. Instead place a call to your client service team and raise hell with them and let them work magic!

Your card will be left alone unless they have eyes on your account during an adverse action review.

I doubt many people will answer since it'd probably devolve into a my d*ck is bigger then yours sort of thing. That being said credit line spreads were immense based on if your card was issued against a review of your assets under management in the sense it was almost a for of secured card as no credit check is run or if you applied and had the decision based on your credit file. I have an 8 figure credit line based on my AUM though a friend of mine (who is significantly more successful then I am) has a minuscule sum with JPM and a vastly lower credit line...

747FC

Thanks. Good to know...

I'm no expert on dispute processes, but a few years ago, I used my then-JPM Select card for a +$1000 hotel bill in Beijing. I declined DCC and had a statement zeroing out my Renminbi charge. Later, my JPM account was charged the DCC rate. I disputed just the $60 difference, but I ended up having JPM give me a credit for the entire +$1000 transaction since the hotel did not respond to the dispute in a timely fashion.

DErg

Over the last 5 years with the JPMR/PD I've had to dispute about 15 transactions unrelated to my card number being stolen (this card seems to be a magnet for that). As long as I submitted something substantiating my claim and didn't miss deadlines they have always been found in my favor. Compared to civil cases I have been involved in I would say the burden of proof of my part was substantially lower than similar court cases. I only lost one and it was because they sent a letter asking for paperwork I could have provided to my seattle home and I wasn't there for two months so I missed the letter and deadline for submitting the documents. Process has always been fairly straightforward but does require checking back periodically to make sure they don't need anything else to find in your favor as it moves through their dispute review process.

cce5858

Oh lol, I have only charged back 4 times in my life. And 3 of them I won. One was a nonrefundable flight I missed, I was in Tokyo, called in fuming, and the charge was credited within days. Executive Line transferred me to a team and rebooked me on Asiana, so I was good to go on 1 phone call. I am guessing that disputing with companies like Apple, AT&T, etc. Those are companies that have entire teams dedicated to fight chargebacks.

On a brighter note, I spoke to my banker here in SF on Wednesday by phone. He put me on hold briefly and credited my UR point balance by 23,431 points, just enough for me to hit 1 million UR points haha (REALLY relieved my OCD). Apple Care (whom I had opened a case with) had Apple Customer Relations call me back regarding my iPhone repair, and they mailed me 2 headphones, a B&O H4 and a Bose SoundLink headphone. Very nice gesture, and those costed $600 on their website. Should have just had their retail store in Las Vegas refund me the $330, which is really a petty amount tbh.

So yeah, I guess you can make lemonade out of lemons. But just an idea to the cardmembers here that JP Morgan does look out for their clients dearly, even though they could not side with me on the dispute out of fact and principle. Service repair was rendered (phone was swapped and accepted by me, even though I was not happy with the replacement device).

DErg

I completely agree that JPM looks out for cardmembers even in some situations where maybe it should go the other way. Been very happy with my team as well, had the same guys the last 7 years.

Venomz

interesting thing happening with my JP reserve card... went over my limit significantly, like 15k over... and I got the bill and shows a minimum amount due.... I called in to see if I can leave a revolving balance of 15k over my limit and still use my card, they said no problem. Am I missing something here? What's the point of the credit limit, if essentially you can go over your credit limit and carry a balance over your credit limit?

(I payoff the balance and always leave a very small revolving amount if any on the card, just interesting that they allow this)?

MDJennings

I'm guessing our credit limits are just a CYA thing.

hawata

My understanding was that the you will be able to charge three times the total credit line with the Palladium / JPMR....

Never tried it....

mia

If the terms of this card are the same as other products, leaving any portion of the statement balance unpaid means that interest applies not only to that balance, but also to all new transactions from their posting dates. This would be an expensive way to use the card.

Venomz

yes, but to be able and leave a revolving balance on it for more than 1-2 billing cycles? What's the point of the credit limit?

Venomz

yes, however, the remaining amount usually has to be paid in full, not a minimum payment (other cards require minimum payment + amount over credit limit).

ive done this with other cards with flexible spending limit, and on the statements they would put the amount over the credit limit, plus interest is due

MDJennings

Yes, my understanding of it (and the explanation I heard as well) was that we were able to charge up to 3x our credit limit, however on the due date we needed to pay enough to make the remaining balance equal to or less than the credit limit.

So with a hypothetical $50,000 credit limit, I would be fine charging it up to $140,000 as long as I paid $90,000 on the due date. Venomz is reporting the ability to break that rule which is odd indeed.

Venomz

My is us bank flex perks card (50k limit) and several other cards that allow flexible spending above the limit, require full payment. JP Morgan reserve is not requiring me to pay my over credit limit spending, just a minimum payment, which has me confused. Any other aggressive spenders leave a balance after maxing out their card only to see they were not required to pay the difference at all if they don't want to? I don't think this is a coincidence or that I am a lucky reserve card holder...

Venomz

In the message area on my statement, it clearly says that I went over my limit by a certain amount and that I "can" include this amount in the difference to pay off the balance off sooner... the word can, and the minimum payment suggest it's not required

747FC

Just trying to educate myself: What posseses you to incur fees?