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
Dec 5, 2020 | 1:00 am
#76
FlyerTalk Evangelist
Join Date: Aug 2009
Location: ZOA, SFO, HKG
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FWIW - the recurring HSBC rumor is due to the fact that HSBC is not a U.S. bank. As one of the largest banks in the world, its U.S. position (and businesses) have been head to head with other major U.S. banks, resulting a not-as-expected performance, especially given its limited presentation. Yet, it is one of the largest banking market in the world. And its network can't be beat, especially when it is one of the few foreign banks allowed to have branch network in China.
On that basis, despite the not-as-expected performance, HSBC's U.S. business still has a vital purpose for the Group, especially when Wells Fargo ceased working with HSBC since a decade ago.
Bottom line - HSBC never intends to offload the U.S. retail business, but wants to improve the performance.
On that basis, despite the not-as-expected performance, HSBC's U.S. business still has a vital purpose for the Group, especially when Wells Fargo ceased working with HSBC since a decade ago.
Bottom line - HSBC never intends to offload the U.S. retail business, but wants to improve the performance.
Dec 5, 2020 | 8:00 am
#77
Join Date: Jan 2003
Location: New York, NY, USA
Programs: UA 1K - 2.1MM, HH LT Diamond, IHG Diamond, Bonvoy LT Titanium, Hyatt Glob
Posts: 777
FWIW - the recurring HSBC rumor is due to the fact that HSBC is not a U.S. bank. As one of the largest banks in the world, its U.S. position (and businesses) have been head to head with other major U.S. banks, resulting a not-as-expected performance, especially given its limited presentation. Yet, it is one of the largest banking market in the world. And its network can't be beat, especially when it is one of the few foreign banks allowed to have branch network in China.
On that basis, despite the not-as-expected performance, HSBC's U.S. business still has a vital purpose for the Group, especially when Wells Fargo ceased working with HSBC since a decade ago.
Bottom line - HSBC never intends to offload the U.S. retail business, but wants to improve the performance.
On that basis, despite the not-as-expected performance, HSBC's U.S. business still has a vital purpose for the Group, especially when Wells Fargo ceased working with HSBC since a decade ago.
Bottom line - HSBC never intends to offload the U.S. retail business, but wants to improve the performance.
My Chase accounts are so old that they date back to Manufacturers Hanover Trust (MHT or Manny Hanny), Chemical, Chase Manhattan and Chase Lincoln First.
Dec 5, 2020 | 5:04 pm
#78
Join Date: Apr 2012
Location: RDU
Programs: UA Silver, Marriott LTT, Avis President's Club
Posts: 1,542
FWIW - the recurring HSBC rumor is due to the fact that HSBC is not a U.S. bank. As one of the largest banks in the world, its U.S. position (and businesses) have been head to head with other major U.S. banks, resulting a not-as-expected performance, especially given its limited presentation. Yet, it is one of the largest banking market in the world. And its network can't be beat, especially when it is one of the few foreign banks allowed to have branch network in China.
On that basis, despite the not-as-expected performance, HSBC's U.S. business still has a vital purpose for the Group, especially when Wells Fargo ceased working with HSBC since a decade ago.
Bottom line - HSBC never intends to offload the U.S. retail business, but wants to improve the performance.
On that basis, despite the not-as-expected performance, HSBC's U.S. business still has a vital purpose for the Group, especially when Wells Fargo ceased working with HSBC since a decade ago.
Bottom line - HSBC never intends to offload the U.S. retail business, but wants to improve the performance.
The report said this would be discussed during the next board meeting. Im hoping they really revamp in a positive way. Updated tech along with competitive investment fees.
Dec 6, 2020 | 3:00 pm
#79
Join Date: Apr 2002
Posts: 601
Anyone know if you can downgrade CPC checking/savings accounts to regular accounts ? I would like to go for that $2,000 bonus for becoming a new client, keep the 250k balance for at least 3 months and then downgrade after using most of that money to fund a real estate investment.
Dec 6, 2020 | 3:14 pm
#80
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✓
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Anyone know if you can downgrade CPC checking/savings accounts to regular accounts ? I would like to go for that $2,000 bonus for becoming a new client, keep the 250k balance for at least 3 months and then downgrade after using most of that money to fund a real estate investment.
If I were you, I would do the downgrade over SM.
Dec 7, 2020 | 4:33 pm
#83
Join Date: Nov 2004
Location: Los Angeles, CA; Philadelphia, PA
Programs: FA
Posts: 6,480
LAX
Dec 7, 2020 | 5:00 pm
#84
FlyerTalk Evangelist
Join Date: Aug 2009
Location: ZOA, SFO, HKG
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Chase is okay with churning bank bonuses? When I opened my Sapphire checking account for the bonus, I intentionally kept it open for at least 12 months. Is that no longer required? In either case, I probably won't try to move $250K for the bonus this time, especially if I "should" keep it for an extended period of time. With Sapphire, at least You Invest balance counts to waive the monthly fee. I don't think it works with CPC. It has to be near zero interest checking/saving and/or fee-based investment accounts.
There are some noisy bankers who would do something above and beyond, like banning a customer. Of course, there are some nice bankers who would do something above and beyond as well, i.e. they know the trick and they work with you regardless. Unless you certainly know someone who will play ball, SM is a better way. In fact, the most of my bank accounts, Chase or otherwise, are closed by SM rather than in branch.
I would not recommend OP to move the money that quick after reviewing the offer. At the minimum, I would wait until the bonus has been deposited first.
Dec 15, 2020 | 6:09 am
#85
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: 4,557
Nothing constructive to write other than thank you to Chase, CPC been berry berry good to me[1].
Oh yeah, this is my 1000th post, I like round numbers. 😉
(Notes: 1. Saturday Night Live 1978, Garrett Morris as Chico Escuela)
Oh yeah, this is my 1000th post, I like round numbers. 😉
(Notes: 1. Saturday Night Live 1978, Garrett Morris as Chico Escuela)
Dec 29, 2020 | 7:22 pm
#86
Join Date: Apr 2019
Posts: 15
- Wire transfer fee: With $100,000 or more in Household Balances, you will receive three free online domestic wire transfers per quarter.
Dec 29, 2020 | 10:08 pm
#87
FlyerTalk Evangelist
Join Date: Aug 2009
Location: ZOA, SFO, HKG
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Posts: 13,807
Jan 3, 2021 | 1:20 pm
#89
Original Poster
Join Date: Mar 2009
Location: PHX
Programs: HHonors Lifetime Diamond, UA Million Miler Gold, Marriott Platinum
Posts: 1,176
Jan 4, 2021 | 11:05 am
#90
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: 4,557
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 Ive 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 theres 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 theres 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.