Posted by William Charles on November 22, 2016
Credit Cards

Published on November 22nd, 2016 | by William Charles

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Received An Invitation To Experience Chase Private Client? What To Know

A number of readers have reported receiving an “Invitation To Experience Chase Private Client” e-mail, the body of the e-mail is as follows:

As a valued Chase customer, we are pleased to invite you to upgrade to Chase Private Client, where you will experience premium banking privileges, priority service, and special relationship benefits.

What’s interesting is that readers that have reported receiving this invitation do not have a lot of funds with Chase. Normally you need $250,000 in deposits with Chase to be eligible. I assumed that people that received this e-mail were basically pre-approved for Chase Private Client status and this deposit requirement wasn’t being enforced.

Unfortunately that doesn’t look to the case and the e-mail seems to be a bit deceiving. Reader JM reported going into a branch and being told that the e-mail was sent out to those that Chase believed had the ability to transfer $250,000 in deposits to Chase. The $250,000 deposit requirement isn’t mandatory and can be waived at the discretion of the private banker, but that is always the case.

This e-mail is/was basically meaningless and you have no more/less chance of actually getting CPC status having received it. Feel free to share your experiences in the comments if they differe/are the same. For those interested in the benefits of CPC status, read this post. The biggest benefit is most likely using it to get approved for credit cards.



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SG
SG

Had the same thing went in to the branch yesterday and was told that I need $250k, was trying to push but was a no go

Lantean
Lantean

yeah, same for me… just wasted time, banker asked me if i can get $250k… they could have asked that over email.

Credit
Credit

What are the benefits of chase private client?

Are you guaranteed approval of all cards past 5/24? Are their ANY tangible benefits besides just stoking your ego?

Dan
Dan

Here’s everything you need to know about Chase Private Client, as DoC mentioned in his posting:

https://www.doctorofcredit.com/everything-need-know-chase-private-client/

Credit
Credit

Thanks dan.

Even on that thread there are data points that say cpc is not guaranteed tosave you from 5/24.

James
James

I’m a CPC and was approved for both the Reserve and Sapphired Preferred with 100k & 75K reward signup bonuses recently even though I’m way over 5/24.
Also, initially got denied for the new ink business preferred card with 80k signup bonus, but was approved after calling reconsideration. I’m not sure if CPC had anything to do with it in this case, but it couldn’t have hurt.

rahul
rahul

Did you get approved for all these 3 chase cards recently?

And you applied in branch or online?

James
James

The Sapphire Preferred was 3 months ago, the Reserve card was a month ago. I had to send a message to get the 10k extra points for the Sapphire Preferred since my signup bonus at the time was only 65k with authorized user added.

The Biz preferred card approval was a yesterday, and I applied last Monday at a branch. I got the reject letter on Saturday, and called reconsider. They asked me my income, mortgage, and then put me on hold for 10 minutes during review. They then said, they’ll contact me within 7 to 10 days. However, when I logged on to Chase web, the new card appeared with an approval, 10k limit though. Good luck.

Mark
Mark

Is there any downside to accepting CPC?

JASON
JASON

Your opportunity cost of putting those funds into a better saving rate account. To me, I would buy a co-op apartment if I have the much fund, instead of maybe $2000 as sign-up bonus on their three credit cards.

James
James

My employer maintains my 401k with Chase, so I automatically got it. It’s fairly easy to reach $250k if one max their contributions and gets a decent employer match.

Jan B
Jan B

I also make a trek into the bank to prompt a response while raising questions about other topics.

No budge. He did say that when the computer system prompts for credit card solicitation, the system advises the applicable bonus. So, I guess others “stretch” the rep to get those matched bonus offers/

One more thing, he said that Chase now requires a hard pull for opening checking accounts. AND, get this…even for opening savings accounts. Cites the regulation in place after 9/11 and recent change to it.

Just my experience. Take it as anecdotal. No harsh replies, please. Thanks.

wwllmm
wwllmm

Anybody get the 50,000 UR bonus mailer for joining CPC?

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