// Workers AI · dad joke modeWhat did the J.P. Morgan Reserve Card say? I'm reserved.
The J.P. Morgan Reserve Card, formerly branded and colloquially known as the Palladium Card, is a credit card issued by J.P. Morgan[nb 1] on the Visa network. It is reserved for the wealthiest clients of the firm's global private bank.[1][2] The card is minted out of a brass alloy, laser-engraved, and plated with metal palladium and 23-karat gold.[3] Eligibility for the card is not fully known as it is invitation-only and at the discretion of J.P. Morgan.[1][3] The card does not report to credit bureaus or maintain a pre-set credit limit. It is considered a status symbol among the affluent.[2][4]
History
[edit]The card was launched in September 2009, following the 2008 financial crisis, for J.P. Morgan's high-net-worth individual clients.[1] Its original name, the Palladium Card, reflected the card's composition: minted out of a brass alloy, laser-engraved, and plated with metal palladium.[3] The card was re-branded as the J.P. Morgan Reserve Card in September 2016.[citation needed]Bloomberg described the Palladium Card as the "card for the 1% of the 1%".[5] 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.[6] The firm declined to confirm this figure as part of their eligibility requirements.[2]
Physical specifications
[edit]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.[3]
Features
[edit]| Region | Annual fee | Initiation fee | Credit limit | Eligibility |
|---|---|---|---|---|
| United States | US$795 | None | Unlimited | $10 million AUM at J.P. Morgan (reported)[6][7] |
| United Kingdom | £500 | None | Unlimited | $10 million AUM at J.P. Morgan (reported)[6][7] |
| European Union | €555 | None | Unlimited | $10 million AUM at J.P. Morgan (reported)[6][7] |
| China | ¥4,000 | None | Unlimited | $10 million AUM at J.P. Morgan (reported)[6][7] |
See also
[edit]Notes
[edit]- ↑ J.P. Morgan & Co. is a subsidiary of JPMorgan Chase specialized in commercial banking, investment banking, and private banking.
External links
[edit]References
[edit]- 1 2 3 Fitzgerald, Kate (July 8, 2021). "Up or down? Issuers adjust fees to compete for luxury spending". American Banker. Retrieved January 10, 2021.
- 1 2 3 Blumberg, Yoni (July 10, 2018). "3 elite credit cards with outrageous benefits only available to the super rich". CNBC. Retrieved January 10, 2023.
- 1 2 3 4 White, Martha C. (2 March 2012). "You're Probably Not Rich Enough For This Credit Card". TIME. Retrieved 10 February 2015.
- ↑ Pokora, Becky (September 11, 2021). "5 Exclusive Credit Cards That Shower You With Service". Robb Report. Archived from the original on January 10, 2023. Retrieved January 10, 2023.
- ↑ Cohan, William D. (29 February 2012). "The Credit Card for the 1 Percent of the 1 Percent: The Ticker". Bloomberg News. Archived from the original on 14 February 2015. Retrieved 10 February 2015.
- 1 2 3 4 5 Nunez, Matthew (October 22, 2022). "High-net-worth people are invited to use these credit cards". The Ticker. Archived from the original on March 17, 2025. Retrieved January 10, 2023.
- 1 2 3 4 Glazer, Emily (March 18, 2016). "At J.P. Morgan, $9 Million in Assets Isn't Rich Enough". WSJ. Retrieved January 10, 2023.