Unboxing the new invite-only JP Morgan Reserve Credit Card Card, formerly known as the JP Morgan Palladium Card – enjoy! Add me on Snapchat/Instagram: GPStephan

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Some background on the card: Typically, in order for people to be eligible to receive one of these, you need to be a JP Morgan Private Bank Customer with more than $10,000,000 in investable assets. This places it as one of the most exclusive credit cards available.

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Originally this card was branded as the JP Morgan Palladium Card, and..if you couldn’t guess…it was made out of Palladium. At current value, just the precious metal value of the card ALONE was worth $1000. However, when Chase launched the Chase Sapphire Reserve in 2016, JP Morgan Palladium Card Holders were a little upset…the Chase Sapphire Reserve held ALL the benefits of the JP Morgan Palladium Card, for a fee of only $450…and the Palladium Card’s fee was $595.

So in 2017, JP Morgan discounted the Palladium Card, and simply rebranded it as the JP Morgan Reserve Card. Same thing, different name, and they lowered the annual fee to $450 to match the Chase Sapphire Reserve.

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On the surface, the benefits of this card are nearly IDENTICAL to the Chase Sapphire Reserve. They’re both a $450 annual fee, they both give you a $300 annual travel credit, they both get 3x points on travel and dining, they both give you complimentary lounge access…I’d say overall, these are the same cards. Except, I got this card for a few reasons:

1. I had the opportunity to get it, so now I get bragging rights 😉
2. I also get 60,000 points by signing up and spending $4000 in the first 3 months, which I was going to spend anyway, so I value that at approximately $1100 in free travel.
3. I also can get the $300 travel credit in 2018, and then again beginning in 2019…so that’s another $600 in value

Hope you enjoy the unboxing!

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For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness@gmail.com

Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq

Favorite Credit Cards:
Chase Sapphire Reserve – https://goo.gl/sT68EC
American Express Platinum – https://goo.gl/C9n4e3

Graham Stephan : Unboxing The $10 Million Dollar Invite-Only Credit Card: The JP Morgan Reserve

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34 COMMENTS

  1. I've had this card now for about 4 years – it was the Palladium when I first got it. To be honest, it was a bit nicer back then – it had your signature laser etched into the back. When JPM switched over to JPM Reserve (around the time they announced the Sapphire Reserve), they did away with the etching. I was a bit disappointed in that when the replacement card came.

    Be prepared – this card attracts a LOT of unwanted attention. A lot. It's nearly impossible to pay for something without someone commenting on how heavy it is, how it can cut someone's head off, or another of a dozen comments I've now heard 10k times. It's much more rare than even the Centurion, largely because you need to HAVE assets to qualify for it, versus SPEND money (Centurion), which, as you pointed out, is often just achieved by running business expenses through the card. For the JPM, you can qualify after establishing a private bank relationship. The requirements to do so (amount of assets you're placing with the bank) can vary substantially. From what I understand, that's largely due to a number of demographic factors. In general, though, I believe they'll gladly shave down the requirements for younger clients who they know will grow into much higher net-worth clients as the years roll on.

    But now for the down-side. While it's a nice card, and the perks are reasonable, they're honestly not much better than the Sapphire Reserve – Chase's version of this card, which pretty much anyone with decent credit can get. True, Chase's version isn't as flashy or exclusive, but 95% of the benefits are the same. Where the JPM sets itself apart is really in private service. You get personal attention, a number to call where there's literally just a person who picks up (no automated nonsense), and as you likely know by now, the private banker assigned to you at JPM is really your key to getting what you need when you need it.

    Now, is your money best KEPT at JPM? That's also a big question. As you obviously know by now, as well, their goal is to have you invested there, and MANY of the investment options IMHO are just not suited for a value index investor, like myself. I'm a firm believer that my money is best invested in a passive way through index ETFs with low expense ratios. Jack Bogle has proven this for us time and time again – and those big bank expenses add up. I despise paying fund managers for active management, or wealth managers to tell me what I already know… or worse yet, try to tell me what I know is NOT the best plan of action. But this is nothing against JPM… they're as good as the next big investment bank (or better); however, I've used a strategy that allows me to invest the way I like, while still keeping JPM happy, keeping my JPM Reserve, AND not paying the ugly investment fees. It IS possible. Look carefully at this since that shiny card, if you're choosing to invest unwisely, can be costing a LOT of money.

    In any case, congratulations – it's a nice feeling when you realize you've "made it" in life, and people are chasing you with their exclusive products. 🙂 And as I said, you WILL get a bunch of unwanted attention with that card. Most have no clue what it is or how much you're "worth" to qualify for it (thankfully!), but they do seem to recognize that it's impressive feeling and want to talk to you about it. So, if you're in a situation where you may not want to risk the unwanted attention with the waiter, like taking out a prospective client, maybe pull out a less flashy card.

  2. I've just randomly come across your channel and really happy i did as I'm learning a lot from you and you do a great job! I have a question, not sure if you'll even see it but here goes…i recently came through a very long period of crappy credit, thanks to a screw up with student loans(long story) however, finally i discovered a couple years ago after getting approved for a 300.00 store card and paying it off in 3 monthly payments
    along with the negative stuff finally falling off my credit report, my credit score jumped up into the low 800's high 700's!
    I used credit karma and stocked up on a few credit cards, which i was shocked i could get. I literally applied in the app for amex and got approved within 5 minutes for 10,000.00$ i was flabbergasted and elated.
    So this is my long, drawn out( so sorry) question for you!
    The cc company's want you to charge a lot, but doing this causes your credit score to drop. I always pay much more than the minimum but my score
    Goes up and down sometimes 60 pts.
    for no apparent reason!
    The quandary is using my credit cards vs. Credit score.
    What is your advice or personal take on this? Also what do yo.u think about credit karma? Hoping for an answer knowing …it's not very
    likely bc of all the subs u have.
    Anyway thank you for all the work you do putting out such well made videos, i for one truly am grateful for your immense knowledge and sharing it!
    Thank you!,

  3. I don't pay cash for anything. I deposit cash and pay the cc with it. I've always heard that credit cards were the devil, but used irresponsibly they are. I don't see why people don't want free money though… hello…

  4. I’d rather just have 10 million cash and you can keep your card. You can keep all the perks and frequent flyer miles you card offers cuz I would buy my own plane and get my pilots license. Then you could flex that card all you wanted cuz I wouldn’t give *^#*!

  5. so basically this card is useless! PS lounge access and global entry are free to every one you moron !! the only difference is its free for us but for you not so much sins you have to pay $400 a year like a moron ! lol FAIL !!!

  6. I'm not your normal audience but I'm like you, I love credit cards. Loved the video, I just was hoping when you opened up the box it was some random thing that you ordered like 5 years ago but got lost in the mail.

  7. So just a hypothetical scenario question for you Graham. Say a lottery winner puts 10-20 million into a JPM account with the private bank. Say they have horrible credit, maybe 500 fico score. Do you think that JPM will approve them because of the money they put in the accounts? Just curious? I am sure AMEX will not allow them to get a credit card but I am curious if JPM. 🙂 Congrats on the card btw

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