Chase Private Client

Old Aug 27, 20, 1:06 am
  #1  
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Chase Private Client

Hey everyone,
Recently moved enough assets to Chase to qualify to Private Client. Have the Chase Trio credit cards. Curious what everyone thoughts were on CPC and what some overlooked benefits may be
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Old Aug 27, 20, 1:52 am
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CPC benefits are pretty much what has been described by Chase. But I believe the hidden benefit is the access of some non-publicly available investment products.
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Old Aug 27, 20, 4:50 am
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mia
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Related discussion here: Existing Private Client Q: Any CC/Travel Bennies if Chase Holdings are Quadrupled?
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Old Aug 27, 20, 2:22 pm
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FWIW, the main tangible benefit I've been able to use is free wire transfers. My daily ACH limit is only 100k which often leaves me needing to initiate a wire transfer. I also use the higher daily ATM withdrawal limit from time to time.

You will get a "banker" who will call you every now and then to ask if you need anything.

Once I got a call notifying me of a CD APY promo that I was interested in. So I stopped by my nearest Chase branch only to wait 15 minutes to be told that since I am Private Client they could not open the account and I had to schedule a meeting at a Private Client branch ...Kind of a hassle for a 1.75% APY.

Note than many private client branches no longer have teller services (although the one's I've been to do have the enhanced ATMs that let you even choose bill denomination and allow your max daily limit of withdrawal as opposed to the ATM's limits)

My bottom line on CPC is it is 95% marketing and 5% free wires and higher cash limits.
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Old Aug 27, 20, 6:36 pm
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As with almost everything in life there is level above Chase Private Client. Just watch the comedy series Modern Family episode when the visit las legas
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Old Aug 27, 20, 8:46 pm
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In my experience the only benefit to being CPC eligible, I didn't take them up on it, and they hounded me incessantly until I emailed the guy back told him to f off. You do get a cooler looking debit card. Beyond that I don't think there are any tangible benefits.

I have a Sapphire Checking and YouInvest account with qualifying balances which waives basically every fee you can throw at the bank account. CPC just gives you some dedicated idiot that will annoy you.
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Old Sep 2, 20, 9:47 pm
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I got invited in to talk about CPC only to be told I didn't qualify.... wasn't really sure why they wasted my time as they have access to my personal and business accounts and could clearly see how much money I was holding and running through. Fwiw, my business runs roughly 1M though them per year and I regularly have balances over 100K in my checking for months so I wasn't really sure what they were looking for? I'm glad to hear that I'm really not missing out on much. I was thinking maybe there was some access to the Chase martini lounge or something. Higher ATM limits is about the only complaint I might have but it's really not that big of a deal.
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Old Sep 2, 20, 11:19 pm
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I am surprised Chase doesn't leverage its line of popular CC into banking/brokerage relationships similar to what BofA does.

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Old Sep 3, 20, 8:46 am
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Originally Posted by mtofell View Post
I got invited in to talk about CPC only to be told I didn't qualify.... wasn't really sure why they wasted my time as they have access to my personal and business accounts and could clearly see how much money I was holding and running through. Fwiw, my business runs roughly 1M though them per year and I regularly have balances over 100K in my checking for months so I wasn't really sure what they were looking for? I'm glad to hear that I'm really not missing out on much. I was thinking maybe there was some access to the Chase martini lounge or something. Higher ATM limits is about the only complaint I might have but it's really not that big of a deal.
According to google, you need a daily average of $250,000 balance in your accounts to qualify. Honestly it is much easier to be Plat Honor client at BoA and much better benefits (bonus) for their credit cards!
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Old Sep 3, 20, 9:14 am
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mia
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Originally Posted by mtofell View Post
I.... why they wasted my time as they have access to my personal and business accounts and could clearly see how much money I was holding ...
Did they ask if you had money at other institutions that you could move to Chase?
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Old Sep 3, 20, 9:33 am
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BTW, I kept getting emails from Chase saying that I could get $2000 becoming a Chase Private Client. I have no checking/saving/investment accounts with Chase except for credit cards. It said I just need to schedule a phone meeting, transfer $250k to a Chase account and maintain for 90 days, get $2000 bonus. Maybe they just sent those emails out to everyone with Chase credit cards and not even looking at your Chase's bank account at all.
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Old Sep 3, 20, 1:15 pm
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Originally Posted by Need View Post
Honestly it is much easier to be Plat Honor client at BoA and much better benefits (bonus) for their credit cards!
Honestly - Plat Honor sucks.
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Old Sep 3, 20, 9:05 pm
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Originally Posted by mia View Post
Did they ask if you had money at other institutions that you could move to Chase?
I can't remember if they did or not. I don't have 250K liquid cash sitting around (who does?) but my home equity, IRA and value of my company easily exceeds it. I was kind of just annoyed by the whole thing and tuned the guy out pretty quickly.
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Old Sep 4, 20, 10:46 pm
  #14  
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We like the free cashier's checks and wires, the CPC debit card and (until recently) the safe deposit box. Our local branch is relocating and they told us to come in and get our stuff. When I went to return the key/check the box, they told me they are doing away with the boxes in all new locations. So basically there is very little value. The first year we opened a brokerage account with our dedicated banker/broker but the returns were less than stellar so we moved everything to Vanguard and have done much better.
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Old Sep 4, 20, 10:58 pm
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Originally Posted by garykung View Post
Honestly - Plat Honor sucks.
Still better than what CPC offers, IMHO. However, BofA service DOES suck big time!

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