Best Reward Cards You Never Get: Hidden Perks Make It Stand Out, But Limited to a Few
In the highly competitive landscape of reward credit cards, it seems that the Sapphire Reserve Card, once the benchmark, has lost some of its allure. What was once the go-to card for rewards has transformed into just another solid option, perhaps overshadowed by its own benefits.
So, what exactly is going on with that card? A notable change is that we’ve launched a full membership to the United Club without any extra charges. This introduces a “hidden trade line,” which essentially means you don’t need to report your card usage to card issuers.
The JP Morgan Reserve Card is essentially a premium version of the Chase Sapphire Reserve Card. Moreover, memberships for the United Club are included as unlisted perks. However, there hasn’t been any detailed information about the JP Morgan Reserve Card available from the issuer.
This card is exclusive to JP Morgan Private Bank clients, who generally need over $5 million in investment assets. Now, they’re looking for clients with assets exceeding $10 million, which already comprises about 90% of their clientele.
For those without $10 million in assets, I’ve identified three possible avenues to access this card.
- Existing holders of the palladium card have been transitioned to the JP Morgan Reserve. This card has now become accessible to Chase customers through the private client program aimed at attracting individuals with at least $150,000 in deposits. Interestingly, many applicants who didn’t have a corresponding private account found themselves being invited to the program, which sometimes processed applications without a linked private client account.
- Seven years ago, there was a brief open application for the JP Morgan Reserve. This opportunity coincided with the Sapphire Reserve launch and offered a bonus of 100,000 points. However, that option quickly closed.
- Open a private banking account even if your assets are under $10 million. A representative from Chase Private Bank indicated that clients could sometimes be transitioned from the private client program to private banking, especially if there’s potential for bringing in more assets.
A private client customer shared their experience on YouTube, showing how they managed to secure a JP Morgan Reserve card without meeting the $10 million asset requirement.
It seems like many current holders are now vying for the same kind of prestige that private client customers with palladium cards enjoy. It’s noteworthy that even former President Obama was a private client and likely carried a palladium card.
- Palladium cards came with an annual fee of $595, offering numerous benefits:
- United Club Membership and Priority Pass access with free guests
- GHA Hotel Black Status for one year
- A highly regarded concierge service
- 35,000 bonus points after spending $100,000 annually
- Double points for travel
- Hidden trade lines that don’t report credit usage monthly, meaning your credit score remains unaffected
However, the opportunity for new customers to get the Palladium card has ended. Chase Private Client consumers are still gaining valuable rewards on sapphire reserve cards, earning triple points for travel and meals, with an annual $300 travel credit, though it remains heavier than the average card.
The Palladium card was distinct with the cardholder’s name and number engraved on the metal front, and their signature on the back after a signature card submission to Chase.
All Palladium cardholders were permitted to retain their cards when transitions to “Sapphire Reserve + United Club” occurred in 2017. Once those cards expire, they are replaced with a somewhat similar JP Morgan Reserve Card, but without the engraved signature. Notably, the new JP Morgan Reserve Card doesn’t offer GHA hotel elite status or the 35,000 bonus points, and it’s not even made of heavy metal like the original designs.
Maybe the Amex Black Card has more lavish perks, but I’m not quite convinced it’s worth the investment. Thus, the JP Morgan Reserve Card appears to be the top-tier rewards card available in the U.S. With an annual fee of only $550, a yearly $300 travel credit, and benefits that go beyond those of the Sapphire Reserve, including the United Club, it certainly makes a compelling case.
