Chase J.P. Morgan Reserve Card Review [Replaces the Palladium]

J.P. Morgan Reserve

The Chase Palladium card is no longer available for signup and is replaced by the J.P. Morgan Reserve.

Direct Link to J.P. Morgan Reserve 

PDF Link

That’s pretty anti-climactic being that the JPM Reserve and the Sapphire Reserve appear to be exactly the same in every way.

The only apparent difference between the cards is the look and feel. Here’s what’s showing on the Chase site (similar to the old Palladium card).

Screen Shot 2016-08-22 at 3.19.05 PM

Not clear if it will continue to be made out of palladium.

Unadvertised Benefits

Chase bankers are telling their clients that the new JPMR card will have the same unadvertised benefits that the Palladium had.

  • Full United Club benefits (1)
  • JPM Reserve will not report balances to the credit bureaus, as was the case with the Palladium (source)
  • Possibly, some fee waivers

The one benefit being dropped is the 35,000 point bonus after spending $100,000.

While Palladium cardholders will lose the 35k bonus, they’ll gain in numerous ways, such as lower annual fee ($450 vs $595), $300 annual travel credit, and 3x points on dining and travel.

Signup Bonus

The landing page doesn’t show any application link or signup bonus.

  • As with the Palladium, you’ll request an ‘invite’ from your dedicated Chase banker
  • JPM Reserve has the same 100k signup bonus as the Sapphire Reserve

The old Palladium/Select card did not have any signup bonus, but this card is so similar to the Sapphire Reserve it makes sense to have the same bonus.

It sounds that the JPM Reserve card is being handled entirely separately from other credit cards, and you’ll thus be able to get 200,000 bonus points if you apply for both the JPM Reserve and the Sapphire Reserve.

Current Palladium Cardholders

Current Palladium cardholders are being prodded to change over to the new JPM Reserve product. Starting October, all the extra benefits of Reserve will be applied to current Palladium cards.

Here’s an email received by a Flyertalk member:

We received the details in regards to the new card. In October this year all Palladium card holders will receive the new benefits of the Reserve card. You do not need to apply for the card, you are still able to use the Palladium card until it expires at which point the replacement card will be a metal Reserve instead of Palladium.

For the annual fee, clients who recently paid the $595 / $99 fee on the Palladium Card will receive a rebate to their account to reflect the Reserve pricing of $450 / $75 – this will be rebated once the Palladium Card is flipped to Reserve in October

From what I gather, if you product change to the JPMR you’ll lose the 35k/100k bonus while if you leave it you’ll keep that bonus. Best would be, perhaps, to keep the Palladium until it expires since you’ll then get the best of both worlds. Note that by doing so your annual fee will be $145 more ($595 vs $450).

Be sure to verify this point with your banker, however, as it might be that in October they are automatically switching everything over completely.

Instead of product changing the Palladium, you might want to apply for the JPM Reserve or the CSR directly to get the 100k bonus, and then close out the Palladium.

Chase Private Clients

The JPM Reserve card will be reserved for Private Banking clients who have $5M+ (or $10M, perhaps) with Chase.

Palladium cards used to be available to Chase Private Clients too, but the Private Client website directs customers to the standard Sapphire Reserve card, and reports sound that the JPMR will be limited to Private Banking clients only, not Private Clients. Let us know if you experience otherwise.

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26 Comments
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Aaron
Aaron (@guest_290963)
September 2, 2016 01:16

Any word on an authorized user fee?

jeff
jeff (@guest_295320)
September 14, 2016 23:51

yes, that’s right $75.

diddy
diddy (@guest_290593)
September 1, 2016 12:13

looks like the boss got approved for the jpm reserve and he is not cpc nor cpb: http://therewardboss.com/approved-jp-morgan-reserve-chase-sapphire-reserve-200k-bonus/

Al
Al (@guest_287935)
August 24, 2016 22:36

The PDF link doesn’t work. Is this intentional

diddy
diddy (@guest_288087)
August 25, 2016 10:20
diddy
diddy (@guest_287698)
August 24, 2016 13:16
Steve
Steve (@guest_287425)
August 23, 2016 20:45

There’s Chase Private Client ($100k-$250k AUM minimum), and then there’s the J.P. Morgan Private Bank ($5mm-$10mm AUM minimum); they are totally different client segments and not even part of the same line of business within JPMC. There’s no such thing as “Chase Private Banking.” In general, the J.P. Morgan brand is used for “higher end” parts of the firm (like HNW wealth management, investment banking, etc.), while the Chase brand is used for retail banking, commercial banking, and card services. You need to be a client of the JPM Private Bank to apply for the JPM Reserve card. The JPM Reserve card includes extra benefits like waived nuisance fees, United Club membership, etc. along with everything the CSR offers, for the same $450 AF.

Lrdx
Lrdx (@guest_286840)
August 22, 2016 22:47

Why is it a benefit that the card does not report balances? So I could carry balance without a dent on my score, or what?

William Charles
Admin
August 23, 2016 00:12

If you’re spending a lot, then a high credit utilization will hurt your score. Some people also don’t like having their high balances reported in general.

Johnny
Johnny (@guest_286798)
August 22, 2016 20:44

I’m a cpc member and was getting super excited for this until I read the last paragraph lol

Johnny
Johnny (@guest_286796)
August 22, 2016 20:43

How about apply for the Palladium card now and wait to be converted if you don’t have 5M?

Tyler
Tyler (@guest_286777)
August 22, 2016 19:55

Do we know for certain then that the Sapphire Reserve’s Priority Pass won’t have guesting privileges?

HORACE
HORACE (@guest_286812)
August 22, 2016 21:06

CSR program rules state that the cardholder must enroll for this benefit — not hard to do but a hoop to jump through, whereas the JPM Reserve states that the cardholder is automatically enrolled & can bring in 2 guests to t he Priority Pass Lounges.

I think the above implicitly indicates that the Priority Pass envisioned for the CSR is of the AMEX Plat variety, whereas the JPM Reserve is of the Citi Prestige variety — time will no doubt tell.

HORACE
HORACE (@guest_286816)
August 22, 2016 21:32

Correction — AU on the JPM Reserve card will get in free to Priority Pass Lounges.

See: https://www.chase.com/card-benefits/jpmreserve/travel

JP
JP (@guest_286722)
August 22, 2016 17:43

If I had 5 mil why would I care about 100k points?

Morgan
Morgan (@guest_286724)
August 22, 2016 17:47
  JP

So you could get them anyway in spite of responding to comment made by person just like you asking the question. 😉

Carlos Martinho
Carlos Martinho (@guest_286774)
August 22, 2016 19:37

Huh???

Kyle
Kyle (@guest_286784)
August 22, 2016 20:14
  JP

Maybe for some financially-independent/retire-early types who need the $5M to last the rest of their lives.

paul5795
paul5795 (@guest_290885)
September 1, 2016 22:54

I have 5+ million $$, through saving, investing . . . and traveling cheap. On point deals like these!

Max
Max (@guest_298731)
September 24, 2016 20:44

Don’t forget Luck, our Great Lord and God.