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 cashier’s 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 Chase’s 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 cashier’s 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
Jan 5, 2021 | 12:40 am
#91
Join Date: Aug 2020
Posts: 301
Data-point in support of CPC (from an admitted points and miles junkie 
):
Aftertorturing depriving myself for 2 years I got to 1/24, COVID-19 actually helped in that regard. In the past 2.5 months I’ve been approved for 5 new Chase cards (380,000 points/miles including 2 bonus bumps), 2 business, 3 personal, with the first 3 approvals on the same day. The first 2, both business cards were instant approvals, the last 3 all showed “need to review” on-line. Immediate calls to reconsideration resulted in approvals upon adjusting credit limits.
Impossible to know for certain and although no one ever said anything and there’s no evidence (sorry to sound like a conspiracy theorist
) I firmly believe that my CPC status played a role in the last few approvals. I do not think I would have been approved if I was not a CPC.
):After
Impossible to know for certain and although no one ever said anything and there’s no evidence (sorry to sound like a conspiracy theorist
) I firmly believe that my CPC status played a role in the last few approvals. I do not think I would have been approved if I was not a CPC.
Jan 5, 2021 | 2:28 pm
#92
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: 4,599
) Sure hope we don’t have another pandemic to help me get through those withdrawal symptoms.
Jan 6, 2021 | 7:00 am
#93
Join Date: Jul 2006
Posts: 56
I'd be interested in learning how I can do better with my CPC account. We have > $5m with them, with almost all of that under management. > $5m in accounts with Chase = < .65% management fee, so for us we're happy using an FA (he's technically independent, but still associated with Chase) since the fees are reasonable and truthfully he's managing our money way better that we would, especially from a tax perspective. He's also objective about our cash management, and we have > $1m at Live Oak since Chase accounts pay nothing.
Other than the pretty low cost fee for active management, we're currently refinancing a mortgage at a discounted rate of 2.25% for a 30yr.
So, I'm getting a.) good active management at a relatively low fee and b.) a cheap mortgage refi.
Is there anything else I could/should be asking for from my banker given my account level? We don't use any Chase credit cards aside from the Amazon one for purchases there. Regular cards in our wallet are Amex Plat, Fidelity (2% cash), Citi/Costco.
Other than the pretty low cost fee for active management, we're currently refinancing a mortgage at a discounted rate of 2.25% for a 30yr.
So, I'm getting a.) good active management at a relatively low fee and b.) a cheap mortgage refi.
Is there anything else I could/should be asking for from my banker given my account level? We don't use any Chase credit cards aside from the Amazon one for purchases there. Regular cards in our wallet are Amex Plat, Fidelity (2% cash), Citi/Costco.
Jan 6, 2021 | 2:20 pm
#94
FlyerTalk Evangelist
Join Date: Aug 2009
Location: ZOA, SFO, HKG
Programs: UA 1K 0.9MM, Marriott Gold, HHonors Gold, Hertz PC, SBux Gold, TSA Pre✓
Posts: 13,807
I'd be interested in learning how I can do better with my CPC account. We have > $5m with them, with almost all of that under management. > $5m in accounts with Chase = < .65% management fee, so for us we're happy using an FA (he's technically independent, but still associated with Chase) since the fees are reasonable and truthfully he's managing our money way better that we would, especially from a tax perspective. He's also objective about our cash management, and we have > $1m at Live Oak since Chase accounts pay nothing.
Other than the pretty low cost fee for active management, we're currently refinancing a mortgage at a discounted rate of 2.25% for a 30yr.
So, I'm getting a.) good active management at a relatively low fee and b.) a cheap mortgage refi.
Is there anything else I could/should be asking for from my banker given my account level? We don't use any Chase credit cards aside from the Amazon one for purchases there. Regular cards in our wallet are Amex Plat, Fidelity (2% cash), Citi/Costco.
Other than the pretty low cost fee for active management, we're currently refinancing a mortgage at a discounted rate of 2.25% for a 30yr.
So, I'm getting a.) good active management at a relatively low fee and b.) a cheap mortgage refi.
Is there anything else I could/should be asking for from my banker given my account level? We don't use any Chase credit cards aside from the Amazon one for purchases there. Regular cards in our wallet are Amex Plat, Fidelity (2% cash), Citi/Costco.
Jan 6, 2021 | 11:02 pm
#95
Original Poster
Join Date: Mar 2009
Location: PHX
Programs: HHonors Lifetime Diamond, UA Million Miler Gold, Marriott Platinum
Posts: 1,177
I'd be interested in learning how I can do better with my CPC account. We have > $5m with them, with almost all of that under management. > $5m in accounts with Chase = < .65% management fee, so for us we're happy using an FA (he's technically independent, but still associated with Chase) since the fees are reasonable and truthfully he's managing our money way better that we would, especially from a tax perspective. He's also objective about our cash management, and we have > $1m at Live Oak since Chase accounts pay nothing.
Other than the pretty low cost fee for active management, we're currently refinancing a mortgage at a discounted rate of 2.25% for a 30yr.
So, I'm getting a.) good active management at a relatively low fee and b.) a cheap mortgage refi.
Is there anything else I could/should be asking for from my banker given my account level? We don't use any Chase credit cards aside from the Amazon one for purchases there. Regular cards in our wallet are Amex Plat, Fidelity (2% cash), Citi/Costco.
Other than the pretty low cost fee for active management, we're currently refinancing a mortgage at a discounted rate of 2.25% for a 30yr.
So, I'm getting a.) good active management at a relatively low fee and b.) a cheap mortgage refi.
Is there anything else I could/should be asking for from my banker given my account level? We don't use any Chase credit cards aside from the Amazon one for purchases there. Regular cards in our wallet are Amex Plat, Fidelity (2% cash), Citi/Costco.
Jan 8, 2021 | 4:24 pm
#96
Join Date: Jun 2017
Location: SEA/NYC/IAD
Programs: UA 1K, DL DM, Hyatt Globalist, Marriott Titanium
Posts: 2,368
Does anyone know what investment accounts qualify toward the $150k balance requirement?
Is it just one of those Chase YouInvest brokerage accounts? Seems fairly straightforward to just park $150k in some index fund (e.g. VTI or similar) and then get CPC for free, no? What am I missing?
Is it just one of those Chase YouInvest brokerage accounts? Seems fairly straightforward to just park $150k in some index fund (e.g. VTI or similar) and then get CPC for free, no? What am I missing?
Jan 8, 2021 | 8:25 pm
#97
FlyerTalk Evangelist
Join Date: Aug 2009
Location: ZOA, SFO, HKG
Programs: UA 1K 0.9MM, Marriott Gold, HHonors Gold, Hertz PC, SBux Gold, TSA Pre✓
Posts: 13,807
You can do whatever you want. In fact - you don't even have to park your money to investment.
Jan 9, 2021 | 7:08 pm
#98
Moderator: Travel Buzz
Join Date: Aug 2012
Location: Sunny San Diego
Posts: 3,176
Does anyone know what investment accounts qualify toward the $150k balance requirement?
Is it just one of those Chase YouInvest brokerage accounts? Seems fairly straightforward to just park $150k in some index fund (e.g. VTI or similar) and then get CPC for free, no? What am I missing?
Is it just one of those Chase YouInvest brokerage accounts? Seems fairly straightforward to just park $150k in some index fund (e.g. VTI or similar) and then get CPC for free, no? What am I missing?
Yes, the You Invest accounts will count for the minimum balance requirement. I asked.
Jan 10, 2021 | 4:40 pm
#99
Join Date: Jun 2017
Location: SEA/NYC/IAD
Programs: UA 1K, DL DM, Hyatt Globalist, Marriott Titanium
Posts: 2,368
Great, thanks! Sounds like this is the way to go then.
Jan 13, 2021 | 9:55 pm
#100
Join Date: Nov 2004
Location: Los Angeles, CA; Philadelphia, PA
Programs: FA
Posts: 6,482
LAX
Jan 14, 2021 | 6:44 am
#101
Join Date: Jan 2006
Location: Pittsburgh, PA
Programs: Hyatt Globalist, Hilton Diamond, Marriott Lifetime Titanium
Posts: 411
You Invest 100% counts towards the CPC balance requirements. It just doesn't count towards the bonus offers to upgrade to CPC. For example, there are occasionally offers to receive $2000 to upgrade to CPC, but that money cannot be in You Invest.
Jan 14, 2021 | 7:05 pm
#103
Join Date: Nov 2004
Location: Los Angeles, CA; Philadelphia, PA
Programs: FA
Posts: 6,482
LAX
Jan 15, 2021 | 6:51 am
#104
Join Date: Jan 2006
Location: Pittsburgh, PA
Programs: Hyatt Globalist, Hilton Diamond, Marriott Lifetime Titanium
Posts: 411
Not sure that is the best option but I guess the $2k bonus would be about the equivalent of 2% interest over the 6 month period.
Apparently you can have a self directed brokerage account under JPM that counts towards the bonus. This is different than You Invest. While Chase would ultimately like to manage it for you and charge you the AUM fee, there is a way to do self directed where you can trade on your own and still meet the requirements for the bonus.
Apparently you can have a self directed brokerage account under JPM that counts towards the bonus. This is different than You Invest. While Chase would ultimately like to manage it for you and charge you the AUM fee, there is a way to do self directed where you can trade on your own and still meet the requirements for the bonus.
Jan 15, 2021 | 5:30 pm
#105
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,634
This is probably what I saw! I guess this means one needs to park $200K in an essentially non-interest bearing CPC checking account until the cash bonus is deposited. After that, the funds can then be transferred to You Invest to maintain CPC status. This is not as bad as I initially thought. I was really turned off by the You Invest exclusion previously. If that is only short-term, then I have to look at CPC again. Thanks.
LAX
LAX
For balance requirement of both Sapphire banking and CPC, assets in all discretionary Chase accounts count toward the balance requirement. This excludes all employer sponsored 401K or similar, pension or HSA. You Invest accounts should be included, even regular IRA accounts.
But to get the bonus for new account or upgrade, it has to be additional new money into Chase. And it has to be non-taxable money, not IRA rollover into Chase. I believe YouInvest accounts are included.
The traditional CPC is fee based. But now you can still get CPC with self-directed accounts. YouInvest accounts are clearly self-directed accounts.
If in deed CPC bonus has to be fee based, you can still wait for 3 months to get bonus and pay the fees for 3 months. Then move your money into YouInvest accounts and still keep CPC status. My banker stated clearly this can be done.