Has anyone been able to get their CPC banker to waive their credit card annual fees -- or is this something out of the realm of possibility?

Now I am more confused! There are two different types of CPC brokerage accounts? One with fees (traditional) and one without (self-directed)? That's separate from You Invest? I have no problem parking some funds in a non-interest bearing CPC checking account to get the bonus, but I want to be able to maintain CPC status without having to pay any fees!

LAX

I sat down with my personal banker in his branch when I signed up for the Sapphire checking account. So I've been in touch with him about upgrading to CPC. He stated very clearly, the CPC and Chase Private Banking are for the affluent customers who want a comprehensive solution with a team approach. It is expected that the CPC and CPB customers hire Chase banker as their wealth advisor and pay the advisor fees. Then he added, CPC customers can also be self-directed and do not hire Chase banker as the advisor. He said clearly that Chase prefers CPC clients to give the assets to Chase to manage it, but not required. All my assets at Chase were in YouInvest accounts. Chase will be happy if you buy Chase mutual funds.

I was going to move some of my assets into Chase to upgrade to CPC. But I found that Chase would not allow any complicated ETF and only offers limited products. So I've pretty moved most of my assets away from them. The extra 5% or 10% investment return is much more valuable than the perks offered by the CPC. The only benefits I used with Sapphire banking and (possible CPC) were twice international wiring fees and one time ATM fee with overseas travel in Europe. To me, CPC is just not worth it. Sure the bonus is good. But IRA money does not count to get the bonus.

Thanks for the clarification. Perhaps I am not CPC/CPB's intended target. I honestly don't think I would use CPC perks all that much either, but if they become available at no additional cost, why not? If You Invest or other no fee brokerage is available for CPC, I can essentially park my index ETFs there instead of my current main brokerage. That's essentially what I am doing at BofA/ME (for the CC perks).

LAX

The targets of Chase CPC/CPB are the full service clients. This is what private banking is for. A relationship banker will take care all of your and your family's needs. They manage the money for you. Good for doctors, professors and small business owners and executives. It is not good for the folks who like to trade on their own. This is why Chase does not offer the full spectrum of the trading products. Certainly its JP Morgan offers all of those.

BofA/ME offers almost all the ETFs as far I know. But they still have some limit. The full brokerages like Fidelity, Schwab and Vanguard offer much more. Schwab even purchased TD Ameritrade (Thinkorswim included). If Chase offers more products, I'll certainly think of coming back. But so far no.

I guess it depends on what your goal is - do you just want the signup bonus or do you just want to be CPC?

If you just want CPC, and do not care about the signup bonus, you just need $150k in either cash/checking , You Invest, IRA, CD. Less than $150k and you pay a $35 / month. You are supposed to (within 13 months) get to a $250k balance. They waive the $35 / month fee (under $150k) for 3 months to give you time to transfer money in.

If you want the $2000 signup bonus, you must move $250k of new money into Chase and it can only be held in checking/savings or a JPM Investment account (taxable - not IRA).

The JPM Investment account has 2 options.

1) You can ask them to set it up as a self directed account (they call it Full Service) and there is no management fee. It is similar to You Invest.
2) They manage your money for you (their goal) and fees range based on how much you deposit. I was told 1.45 % for $100k, 1.25% for $250k, and .95% for $1 million.

You can get CPC for only $50k instead of $150k by maintaining a linked Platinum Business Checking with $50k. Alternatively, keep the $50k in a linked business investment account rather than earning nothing in the checking account.

Any link about that?

What are some example ETFs that Chase doesn't offer?

Merrill Edge doesn't allow buying GBTC.

see page 4

https://www.chase.com/content/dam/ch...-will-work.pdf

No, this is not what you originally stated.

It only says, the monthly service fee of this Platinum Business Checking account is waived if the "Chase Platinum Business Checking" account has an average day balance of $100,000 or $50,000 if this business account is linked to a Chase CPC account.

This Chase Platinum Business Checking is for large business. Designed to handle the needs of larger businesses with greater monthly transactions and cash management needs. It does not say that you can keep a Chase CPC with just $50,000 balance. You could half the daily balance of this large business checking account if you have existing CPC relationship. But you'll have to qualify for CPC first.

You can look TQQQ and SQQQ. Not allowed.

Not correct; they link with each other. It’s also in the letter sent stating how to meet the requirements for those that were going to be kicked out of CPC. A perk of having Plat Bus Checking is free CPC and a perk of CPC is lower balance requirement of Play Bus Checking.

This is not correct. Here is the link to the business checking account.

https://www.chase.com/business/checking
https://www.chase.com/business/check...iness-checking

https://cimg2.ibsrv.net/gimg/www.fly...a41abbb978.png


I'll never keep either $50,000 or $100,000 cash in any business checking account. But for large business like a corporation, $100,000 is no problem. But for corporation, there is no need to link to a Chase CPC.

I keep both personal and business relationship with Chase.....

I don't see it mentioned on that website. But the CPC website chaseprivateclient.chase.com says "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. Otherwise a $35 Monthly Service Fee will apply."

And when I opened a CPC account a couple months ago, I got a "Chase Private Client Addendum" PDF (you can search the web for that to see it) that makes it more clear; it has "OR, a linked Chase Platinum Business Checking account" as a separate bullet point than the $150,000 requirement.