Chase J.P. Morgan Reserve Review

Big news for Private Clients or those everywhere looking to be a private client with Chase. JP Morgan’s Palladium will no longer be available (as of August 19, 2016) and will be replaced by the new J.P. Morgan Reserve Card. Good news is, Chase Bankers are telling their clients that the card will not undergo any new and drastic changes, but expect to have no sign-up bonus with an exchange of a lower annual fee of $450 vs Palladium’s hefty $595 AF with similar Sapphire Reserve Benefits such as $300 Travel Credit, 3 times the points on dining and travel, etc.

Alternative Credit Card Bonuses:

• Platinum Card® from American Express
• Citi Prestige® Card
• Chase Sapphire Preferred® Card

Converting To A JP Morgan Reserve:

If you’re a current Palladium cardholder, you’ll be changed over to the new J.P. Morgan Reserve Product. Also, starting October, we’ll be expecting to see the Reserve benefits applied to the cards. regarding the annual fee, client who paid the $595 and $99 fee on their Palladium Card recently, will receive a rebated  reimbursement on the basis of the Reserve Pricing of $450 and $75 once the Palladium is enacted in October.

Now, what this entitles us could be that a product change the JP Morgan Reserve wouldn’t be necessary yet considering you’ll lose out on the 35,000 and 100,000 Bonus. Which, I strongly suggest keeping the Palladium card until it expires and you could grab a replacement JPM Reserve card in doing so. Or another option could be to apply for the JP Morgan Reserve or the Chase Sapphire Reserve directly for the 100,000 UR Bonus and after that, close the Palladium. Of course, to each their own experience. If you are skeptical about keeping your Palladium open while applying for the JPMR or CSR, then this method is out the window.

Chase Private Clients

Being a Private Client for Chase means having some amount of influence and in order to get your hands on the JP Morgan Reserve card, you will be prompted to possess at least $5M+ with Chase. Keep in mind that there has been reports that the JP Morgan Reserve will only be limited for Private Banking Clients only. Again, this does not include Private Clients; Private Clients may be inclined to another judgement system of approval in the future, but as of now, only Private Banking Clients will be for sure get approval for the JPM Reserve.

JP Morgan Reserve Features:

• Sign up bonus of 100,000 Chase Ultimate Rewards points is expected (but just a hunch)
• 3x points on travel & dining purchases
• 1x points on all other purchases
• 50% bonus when redeeming points through Chase Ultimate Rewards for airfare, hotels, car rentals and cruises
• $300 annual travel credit for travel purchases charged to the card
• Complimentary lounge access at over 900+ lounges (Priority Pass Select membership)
• Global Entry or TSA PreCheck credit of up to $100
• 1:1 Transfer Ratio
• No foreign transaction fees
• Visa Infinite
  • Exclusive events and experiences
  • Elite HOTEL BENEFITS AT RELAIS & CHÂTEAUX
  • Special benefits at a variety of hand-selected top hotels and resorts worldwide
• Annual fee of $450

JP Morgan Reserve Unadvertised Features: 

• JPM Reserve will not report balances to the credit bureaus, as was the case with the Palladium
• Lounge Club Membership with a Guest for no extra cost
• Full United Club benefits

Conclusion:

The JP Morgan Palladium Card offered to Private Clients will no longer be available for grabs as of August 19, 2016 and there’s no wonder considering that there’s a new player in the game: The JP Morgan Reserve, which will still offer most if not all of Palladium’s benefits with the added extra “Reserve” benefits that you’ll see on the new Sapphire Reserve. One of the biggest changes you can see is the lower annual fee of $450 instead of $595, but there’s no current sign-up bonus out currently.

I expect a sign-up that matches the Reserve in the near future and seemingly enough, since the JPMR and the CSR will be handled entirely separately from other credit cards, you could possibly get 200,000 bonus points total from both cards! If what you’re looking for perhaps is another card, be sure to check out our complete list of Chase Card Promotions or Credit Card Promotions!