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

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.

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.

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!