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Ask a Palladium Card Holder a Question ....


Ruby Centurion & Palladium
Centurion & Palladium

Posts: 18
Jason wrote:
Well I made a decision to start a banking relationship with Chase by jumping right into CPC. I have had Private client relationship with US Bank for past decade and have an independent financial advisor. We do not have a CPC branch in the state I live in and while I don't care about having to deal with an out of state banker for my periodic requests, I'm not going to set up an investment account with them. I don't care if my account is CPC or I just have whatever their highest tier checking account is.

Do I need to be CPC to get the Palladium card? My new non CPC banker is willing to submit a request but I'd rather not apply just to get denied. Everyone I talk with has told me a different story. Should I just open up an out of state CPC or gamble and set up a savings/checking with high deposit and apply for the card? For the record I do want a chase checking account regardless.


I've been mostly a lurker on here but I'll throw in my 2cents. I'm a bit confused because you mention that you've made the jump to CPC but that your new banker is non-CPC. Does this mean that you've opened an account at a Chase branch in your state since CPC locations currently only exist in 22 states? The requirements for the card have changed since I became a member over 4 years ago. At the time, you could just call up their executive line and they would put you in touch with someone to determine your eligibility. In my case, they wanted proof of assets and my spending patterns on my Centurion Card. I have the card but to this day do not have a private banking relationship with Chase/JPM.

If your banker has an application and is willing to submit it on your behalf and you are concerned about being potentially denied because they are not a CPC office, then my suggestion would be to ask the banker directly if they have had been able to approve prior clients...Someone else posted recently on here that they were denied for a Palladium Card after a non-CPC banker submitted their application but I'm wondering if there may have been more to the story?

Versace

Jason Palladium
Palladium

Posts: 11
Hello,
I'm sorry I wasn't very clear with my post. I have not opened any accounts with Chase yet. I met with a local banker (not PB or CPC) who was willing to submit the application on my behalf if I open some accounts. She roughly knows my asset class. She printed me off an application. I called the phone number on the application and the woman informed me that I had to be a CPC or PB. The local banker told me that was not the case and the person I spoke with on the JP executive line was wrong. I have debated just opening up a CPC account in another state so I don't have to worry about being declined. I'm not sure if the label CPC is whats important or just the assumption that most people who are CPC have assets at JP and that is what underwriting is really looking for. If thats the case I'd rather not apply as I have no intention of moving investments, just banking.
I am sure my income, assets and credit score will not be a problem.
Thanks in advance

MyPalladiumCard User avatar
Centurion & Palladium
Centurion & Palladium

Posts: 220
Jason wrote:
Hello,
I'm sorry I wasn't very clear with my post. I have not opened any accounts with Chase yet. I met with a local banker (not PB or CPC) who was willing to submit the application on my behalf if I open some accounts. She roughly knows my asset class. She printed me off an application. I called the phone number on the application and the woman informed me that I had to be a CPC or PB. The local banker told me that was not the case and the person I spoke with on the JP executive line was wrong. I have debated just opening up a CPC account in another state so I don't have to worry about being declined. I'm not sure if the label CPC is whats important or just the assumption that most people who are CPC have assets at JP and that is what underwriting is really looking for. If thats the case I'd rather not apply as I have no intention of moving investments, just banking.
I am sure my income, assets and credit score will not be a problem.
Thanks in advance


Welcome to the site Jason!

Based on our members experience with the card, a private bank relationship is preferred BUT it is not an absolute requirement. However, we are seeing this preference being enforced more and more nowadays. The most important factors outside of one's credit score are spending patterns and liquid assets. If your local Chase banker is willing to support your application for a Palladium Card then I would go ahead and have her submit the application along with asset documentation and spending patterns from another card.

Good luck and please let us know what happens!

Jason Palladium
Palladium

Posts: 11
I ended up getting approved for the Palladium Card today! As a side note, I filled out the application and after it was submitted I was told a couple days later that the application was recently changed and had to fill out a new application. The new application did say it needed to be submitted by a CPC. Looking forward to receiving the card next week!

wallst User avatar
Palladium
Palladium

Posts: 50
Jason wrote:
I ended up getting approved for the Palladium Card today! As a side note, I filled out the application and after it was submitted I was told a couple days later that the application was recently changed and had to fill out a new application. The new application did say it needed to be submitted by a CPC. Looking forward to receiving the card next week!


Has the new application changed significantly from the old one?

Congrats Jason! :)

Jason Palladium
Palladium

Posts: 11
I don't believe so but submission by Private Banker and CPC was at the top of the application as well as some of the bank codes on the application changed. I didn't really study it but there were enough changes I had to fill out the new form

Ruby Centurion & Palladium
Centurion & Palladium

Posts: 18
Jason wrote:
I ended up getting approved for the Palladium Card today! As a side note, I filled out the application and after it was submitted I was told a couple days later that the application was recently changed and had to fill out a new application. The new application did say it needed to be submitted by a CPC. Looking forward to receiving the card next week!


That's awesome! Sounds like you just went ahead with having your local non CPC banker submit the application on your behalf?

Card usually takes 24-48 hrs to arrive by UPS from OH.

Jason Palladium
Palladium

Posts: 11
No it had to be submitted by a CPC or PB. That was also stated on top of the application (which I did not read on the old application). I got approved Friday so I'm hoping I will have the card when I get home from work today!

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