J.P. Morgan Reserve Card

{{redirect|Chase Palladium Card|text=Not to be confused with the Platinum Card issued by American Express}}

File:JP Morgan Reserve 1.png from 2019]]

The J.P. Morgan Reserve Card, formerly branded and colloquially known as the Palladium Card, is a credit card issued by J.P. Morgan{{#tag:ref|J.P. Morgan & Co. is a subsidiary of JPMorgan Chase specialized in commercial banking, investment banking, and private banking.|group="nb"}} on the Visa network. It is reserved for the wealthiest clients of the firm's global private bank.{{Cite web |last=Fitzgerald |first=Kate |date=July 8, 2021 |title=Up or down? Issuers adjust fees to compete for luxury spending |url=https://www.americanbanker.com/payments/news/up-or-down-issuers-adjust-fees-to-compete-for-luxury-spending |access-date=January 10, 2021 |website=American Banker |language=en}}{{Cite web |last=Blumberg |first=Yoni |date=July 10, 2018 |title=3 elite credit cards with outrageous benefits only available to the super rich |url=https://www.cnbc.com/2018/07/06/3-luxury-credit-cards-only-available-to-the-super-rich.html |access-date=January 10, 2023 |website=CNBC |language=en}} The card is minted out of a brass alloy, laser-engraved, and plated with metal palladium and 23-karat gold.{{cite news |author=White, Martha C. |date=2 March 2012 |title=You’re Probably Not Rich Enough For This Credit Card |work=TIME |url=https://business.time.com/2012/03/02/youre-probably-not-rich-enough-for-this-credit-card/ |access-date=10 February 2015}} Eligibility for the card is not fully known as it is invitation-only and at the discretion of J.P. Morgan. The card does not report to credit bureaus or maintain a pre-set credit limit. It is considered a status symbol among the affluent.{{Cite web |last=Pokora |first=Becky |date=September 11, 2021 |title=5 Exclusive Credit Cards That Shower You With Service |url=https://robbreport.com/lifestyle/finance/exclusive-credit-cards-service-1234631652/ |access-date=January 10, 2023 |website=Robb Report |language=en-US}} {{deadlink|date=January 2025}}

History

The card was launched in September 2009, following the 2008 financial crisis, for J.P. Morgan's ultra-high-net-worth clients. Its original name, the Palladium Card, reflected the card's composition: minted out of a brass alloy, laser-engraved, and plated with metal palladium. The card was re-branded as the J.P. Morgan Reserve Card in September 2016.{{cite web |author=Ellis, Nick |date=August 25, 2016 |title=Have $10 Million with Chase? You Can Get the J.P. Morgan Reserve Card |url=https://thepointsguy.com/2016/08/jp-morgan-reserve-card/ |website=The Points Guy}} Bloomberg described the Palladium Card as the "card for the 1% of the 1%".{{cite news | url=http://www.bloombergview.com/articles/2012-02-29/the-credit-card-for-the-1-percent-of-the-1-percent-the-ticker | title=The Credit Card for the 1 Percent of the 1 Percent: The Ticker | work=Bloomberg News | date=29 February 2012 | access-date=10 February 2015 | author=Cohan, William D. | url-status=dead | archive-url=https://web.archive.org/web/20150214043005/http://www.bloombergview.com/articles/2012-02-29/the-credit-card-for-the-1-percent-of-the-1-percent-the-ticker | archive-date=14 February 2015 }} Clients of J.P. Morgan who are invited to carry the card must have a reported minimum of US$10 million in assets under management (AUM) with the private bank.{{Cite web |last=Nunez |first=Matthew |date=October 22, 2022 |title=High-net-worth people are invited to use these credit cards |url=https://theticker.org/8935/business/high-net-worth-people-are-invited-to-use-these-credit-cards/ |access-date=January 10, 2023 |website=The Ticker}} The firm declined to confirm this figure as part of their eligibility requirements. There are roughly 5,000 J.P. Morgan Reserve cardholders worldwide.

Physical specifications

The J.P. Morgan Reserve Card was one of the first U.S. credit cards to adopt EMV smart chip technology. With its brass construction and palladium plating, the card weighs 1 ounce or 28.35 grams, five times the weight of a conventional plastic credit card and twice the weight of the titanium constructed American Express Centurion Card.

Features

class="wikitable"

!Region

!Annual fee

!Initiation fee

!Credit limit

!Eligibility

United States

|US$595

|None

|Unlimited

|$10 million AUM at J.P. Morgan (reported){{Cite web |last=Glazer |first=Emily |date=March 18, 2016 |title=At J.P. Morgan, $9 Million in Assets Isn’t Rich Enough |url=http://www.wsj.com/articles/at-j-p-morgan-9-million-in-assets-isnt-rich-enough-1458340690 |access-date=January 10, 2023 |website=WSJ |language=en-US}}

United Kingdom

|£500

|None

|Unlimited

European Union

|€555

|None

|Unlimited

China

|¥4,000

|None

|Unlimited