Jan 23, 2021, 1:05 pm
Last edit by: Boraxo
Chase Private Client
Qualification:
At least $150,000 with Chase Bank in personal and business bank accounts. Also include investments with JP Morgan. Excludes all employer sponsored retirement plans (401K etc.) and other benefits plans such as HSA etc. but includes IRAs managed by Chase. The investments can be managed by JP Morgan (fee based) or self-directed by the clients.
There is no Monthly Service Fee for Chase Private Client Checking when you have one of the following each monthly statement period: an average beginning day balance of $150,000 or more in any combination of this account and linked qualifying deposits and investments or you have a linked Chase Platinum Business Checking account (with $50,000 balance). Otherwise a $35 Monthly Service Fee will apply.
Benefits:
Chase Sapphire Banking Relationship
Qualification:
At least $75,000 with Chase Bank in personal and business bank accounts. Also include investments with JP Morgan. Excludes all employer sponsored retirement plans (401K etc.) and other benefits plans such as HSA etc. The investments can be managed by JP Morgan (fee based) or self-directed by the clients.
Benefits:
The benefits of Chase Private Client and Chase Sapphire Banking are almost identical. The main difference is that CPC has a dedicated private banker vs Sapphire dedicated service line. CPC is for clients who have more sophisticated banking and investment needs and desire a more personal relationship. CPC may have other banking discounts with mortgage, vehicle loans etc.
Before CPC was a way to get around the Chase 5/24 credit application limitation. It was also the backdoor to apply for the JPM Reserve (former Palladium) card. Both have been blocked or eliminated.
Qualification:
At least $150,000 with Chase Bank in personal and business bank accounts. Also include investments with JP Morgan. Excludes all employer sponsored retirement plans (401K etc.) and other benefits plans such as HSA etc. but includes IRAs managed by Chase. The investments can be managed by JP Morgan (fee based) or self-directed by the clients.
There is no Monthly Service Fee for Chase Private Client Checking when you have one of the following each monthly statement period: an average beginning day balance of $150,000 or more in any combination of this account and linked qualifying deposits and investments or you have a linked Chase Platinum Business Checking account (with $50,000 balance). Otherwise a $35 Monthly Service Fee will apply.
Benefits:
- No monthly service fee on Chase Private Client checking or savings accounts.
- A reduced minimum balance requirement on Chase Platinum Business Checking and no monthly fee on Chase Total Business Checking accounts
- No fees for domestic and international wire transfers completed in person, on the phone or online.
- No Chase fee at a non-Chase ATM (including international ATMs). In addition, Chase refunds ATM fees charged by the ATM owners up to five times per statement period.
- No fee for 3 x 5 Safe Deposit Box and a 20% discount for larger boxes (though Chase exited safe deposit business in California)
- No stop payment fees.
- No fees for cashiers checks, counter checks or money orders.
- When using your debit card, Chase will increase your daily ATM withdrawal limit of up to $2,000 and a daily purchase limit of up to $7,500.
- No exchange rate adjustment fees for debit card usage or ATM withdrawals abroad, making this another great way to save on overseas ATM withdrawals
- A slightly higher sign-up bonus on the Chase Sapphire Preferred Card. Chase Private Client customers can earn 60,000 bonus points after spending $4,000 on their card within three months of account opening, versus 50,000 points for the public offer. (Possibly outdated)
- Mortgage benefits including the ability to leverage Chases best rate when you purchase a home with the Chase Private Client Mortgage Rate Purchase Program (based on your total deposits and investments with Chase), a $750 discount on closing costs on all loans, dedicated priority processing and senior underwriting support for loans,
discounts for Home Equity Lines of Creditand direct access to Customer Service Specialists. Note: Chase discontinued new HELOCs in 2020 (existing HELOC accounts are grandfathered with these benefits). Access to the Chase Private Client Arts & Culture program, which includes a card that offers free admission and discounts to museums in about a dozen major US cities. For example, in New York it offers free admission to the American Museum of Natural History for yourself and up to five guests. The card is specific to an individual city, but it appears that Chase is willing to send you new cards when you plan on visiting a particular city.Discontinued.- A private client advisor when you have investments with JP Morgan
Chase Sapphire Banking Relationship
Qualification:
At least $75,000 with Chase Bank in personal and business bank accounts. Also include investments with JP Morgan. Excludes all employer sponsored retirement plans (401K etc.) and other benefits plans such as HSA etc. The investments can be managed by JP Morgan (fee based) or self-directed by the clients.
Benefits:
- No monthly service fee on Chase Sapphire checking or savings accounts.
- One no fee Chase Total Business Checking account (may have been removed)
- No fees for domestic and international wire transfers completed in person, on the phone or online.
- No Chase fee at a non-Chase ATM (including international ATMs). In addition, Chase refunds ATM fees charged by the ATM owners up to five times per statement period.
- No fee for 3 x 5 Safe Deposit Box and a 20% discount for larger boxes.
- No stop payment fees.
- No fees on the first four overdrafts during the current the prior 12 statement periods
- No fees for cashiers checks, counter checks or money orders.
- When using your debit card, Chase will increase your daily ATM withdrawal limits.
- No exchange rate adjustment fees for debit card usage or ATM withdrawals abroad, making this another great way to save on overseas ATM withdrawals
- 24/4 dedicated Chase Sapphire banking service line
The benefits of Chase Private Client and Chase Sapphire Banking are almost identical. The main difference is that CPC has a dedicated private banker vs Sapphire dedicated service line. CPC is for clients who have more sophisticated banking and investment needs and desire a more personal relationship. CPC may have other banking discounts with mortgage, vehicle loans etc.
Before CPC was a way to get around the Chase 5/24 credit application limitation. It was also the backdoor to apply for the JPM Reserve (former Palladium) card. Both have been blocked or eliminated.
Chase Private Client
Feb 25, 2021 | 8:46 am
#166
Community Director Emerita
Join Date: Oct 2000
Location: Anywhere warm
Posts: 35,583
Not even sure you need to do that. About one month after I crossed the $150k threshold in all of my accounts, I noticed when I logged in that my checking accounts had gone from SAPPHIRE CHKG to CPC CHKG. Called my local branch and they confirmed it was automatic.
Feb 25, 2021 | 8:49 am
#167
Join Date: May 2019
Programs: AA EXP, UA 1K, Qatar Gold, Hilton Diamond, Bonvoy Lifetime Titanium Elite, Hyatt Lifetime Globalist
Posts: 631
The funnier part is that when I noticed it, I was concerned. Called to ask what CPC CHKNG was because I hadn't done anything on my end to make the change and it didn't click until the rep told me.
Feb 25, 2021 | 12:16 pm
#168
Join Date: Sep 2008
Location: AUS
Programs: AY+ Platinum, BAC, AA, Hyatt Globalist, Amex Plat
Posts: 7,523
Regards
Feb 25, 2021 | 12:23 pm
#169
Join Date: May 2019
Programs: AA EXP, UA 1K, Qatar Gold, Hilton Diamond, Bonvoy Lifetime Titanium Elite, Hyatt Lifetime Globalist
Posts: 631
Don't know that I'd say excited...but have used a few of them since getting it late last year. First, I have family photos and other sensitive files backed up to a USB drive that I keep in the free safety deposit box. Hadn't done that before. Also have 2 crypto hardware wallet devices in the box as well. Had always kept them at home. The other benefit, which I hadn't known about before, is the limit of $25,000 for mobile deposit. Had been sitting on a $15k+ check and when I checked yesterday found out I could deposit it without going to the bank or ATM.
Feb 26, 2021 | 5:09 pm
#170
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,635
Not even sure you need to do that. About one month after I crossed the $150k threshold in all of my accounts, I noticed when I logged in that my checking accounts had gone from SAPPHIRE CHKG to CPC CHKG. Called my local branch and they confirmed it was automatic.
The best benefit of CPC/Sapphire banking is the free international wire, both ways. I used it a couple of times, or less than once a year. And the occasionally no fee overseas ATM access. I used it when I was in Greece since I did not bring enough Euro cash. Never used the safe deposit box and it is offered at other bank branches too.
Last edited by RedSun; Feb 26, 2021 at 5:14 pm
Feb 27, 2021 | 5:44 pm
#171
Join Date: Apr 2008
Location: MSP
Programs: Delta SkyMiles GM/United Mileage Plus/Hilton Honors
Posts: 168
This proved my thinking that CPC is almost the same way as Sapphire relationship. You just need to have higher combined balance.
The best benefit of CPC/Sapphire banking is the free international wire, both ways. I used it a couple of times, or less than once a year. And the occasionally no fee overseas ATM access. I used it when I was in Greece since I did not bring enough Euro cash. Never used the safe deposit box and it is offered at other bank branches too.
The best benefit of CPC/Sapphire banking is the free international wire, both ways. I used it a couple of times, or less than once a year. And the occasionally no fee overseas ATM access. I used it when I was in Greece since I did not bring enough Euro cash. Never used the safe deposit box and it is offered at other bank branches too.
Feb 27, 2021 | 7:35 pm
#172
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,635
This has not been my experience. I had over $650k and never received an invite or upgrade to CPC. Recently took 2/3 of that out of Chase and transferred to BOA/ML to take advantage of the Preferred Rewards. Maybe I will be set up to transfer some back when they offer another large CPC bonus offer.
Mar 1, 2021 | 6:03 pm
#173
Join Date: Jan 2006
Location: Central Florida and Bangkok
Posts: 417
I like to try and experiment to see what platform is better. I can easily consolidate some if I want to. Unfortunately Citi and Chase did not make the lists. The remainders I like to keep.
It is never a good idea to keep just one platform. I've had outages from Merrill, Schwab, Fidelity and Interactive brokers. Some can last for half a day. That becomes rather common now with so many people staying home.
The SIPC insurance is a minor factor.
Here is a standard 2x NASDAQ ETF. Not allowed at all.
It is never a good idea to keep just one platform. I've had outages from Merrill, Schwab, Fidelity and Interactive brokers. Some can last for half a day. That becomes rather common now with so many people staying home.
The SIPC insurance is a minor factor.
Here is a standard 2x NASDAQ ETF. Not allowed at all.
2 months ago I moved my IRA from Chase to Schwab because Chase only offers covered calls and cash secured puts. I can do spreads and buy deep in the money calls after transferring to Schwab. Chase website also times out very fast.
Last edited by njfan07; Mar 1, 2021 at 7:41 pm
Mar 10, 2021 | 11:46 am
#174
Join Date: Dec 2003
Location: NYC
Posts: 7,032
Random data point: Chase appears to have added an account over which I have a power of attorney to my accounts to determine eligibility. It hardly seems worth the effort, although does having a named contact banker ever help?
EDIT: browsing this thread, it seems having a named contact banker has little if any value.
EDIT: browsing this thread, it seems having a named contact banker has little if any value.
Last edited by richarddd; Mar 11, 2021 at 8:08 am
Mar 20, 2021 | 2:57 pm
#175
Join Date: Nov 2004
Location: Los Angeles, CA; Philadelphia, PA
Programs: FA
Posts: 6,483
Just curious, has anyone tried getting their CPC banker involved in credit card related issues such as denied dispute? I know they are different divisions, but wonder if CPC would offer any advantage in that regard.
LAX
LAX
Mar 21, 2021 | 4:51 pm
#177
Join Date: Jun 2017
Location: SEA/NYC/IAD
Programs: UA 1K, DL DM, Hyatt Globalist, Marriott Titanium
Posts: 2,368
Mar 21, 2021 | 11:13 pm
#178
Join Date: Feb 2011
Location: NYC suburbs
Programs: UA LT Gold 1.2MM (BIS), AA LT Plat (SUBs, BD/Bask), Hilton Dia (CC), Hyatt Glob (BIB), et. al.
Posts: 4,600
FWIW, about 5 years ago I transferred some long held assets to Chase specifically to become CPC because at that time CPC was a viable way around 5/24. I was at about 30/24 at the time, applied for CSP in person with a private banker during the same meeting we did CPC enrollment. CSP application was declined, banker did the recon work, approved 2 days later. CSR was introduced a few months later, I applied in person with the same banker and amazingly to me (and the banker), instant approval with a very high credit limit.
However, that gravy train ended within the next year, an application about 4 years ago was declined for too many recent accounts and no amount of recon effort by myself and a banker got the decline reversed.
I am a firm believer though that CPC helps in unidentified ways, see my posts #48, #55, and #90 above. (And my business bona fides are somewhat feeble to say the least 😉.)
Mar 22, 2021 | 9:59 am
#179
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,635
No. CPC banker won't help with CC application and closure etc. As for credit dispute, I do not see that they can help. Can only facilitate and move faster I assume.
Mar 22, 2021 | 11:57 pm
#180
Join Date: Nov 2004
Location: Los Angeles, CA; Philadelphia, PA
Programs: FA
Posts: 6,483
Most likely, for about the past 4 years, the answer to your question is probably either “no” or “yes but it didn’t help”.
FWIW, about 5 years ago I transferred some long held assets to Chase specifically to become CPC because at that time CPC was a viable way around 5/24. I was at about 30/24 at the time, applied for CSP in person with a private banker during the same meeting we did CPC enrollment. CSP application was declined, banker did the recon work, approved 2 days later. CSR was introduced a few months later, I applied in person with the same banker and amazingly to me (and the banker), instant approval with a very high credit limit.
However, that gravy train ended within the next year, an application about 4 years ago was declined for “too many recent accounts” and no amount of recon effort by myself and a banker got the decline reversed.
I am a firm believer though that CPC helps in unidentified ways, see my posts #48, #55, and #90 above. (And my business bona fides are somewhat feeble to say the least 😉.)
FWIW, about 5 years ago I transferred some long held assets to Chase specifically to become CPC because at that time CPC was a viable way around 5/24. I was at about 30/24 at the time, applied for CSP in person with a private banker during the same meeting we did CPC enrollment. CSP application was declined, banker did the recon work, approved 2 days later. CSR was introduced a few months later, I applied in person with the same banker and amazingly to me (and the banker), instant approval with a very high credit limit.
However, that gravy train ended within the next year, an application about 4 years ago was declined for “too many recent accounts” and no amount of recon effort by myself and a banker got the decline reversed.
I am a firm believer though that CPC helps in unidentified ways, see my posts #48, #55, and #90 above. (And my business bona fides are somewhat feeble to say the least 😉.)
LAX