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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 ReserveÂ
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).
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.
