The J.P. Morgan Palladium Card (now formally re-branded the J.P. Morgan Reserve Card) was an invitation-only Visa credit card issued by JPMorgan Chase. The laser engraved card was minted out of solid metal and plated with palladium. The card and its successor dominates a category of ultra exclusive, invitation-only credit and charge cards, which includes the American Express Centurion Card.
JPMorgan Chase introduced the Palladium Card in 2009 to cater to their ultra high net worth clients. Bloomberg described the Palladium Card as the "card for the 1% of the 1%". Most J.P. Morgan clients who are invited to carry this card have a minimum of US$10 million in assets under management with J.P. Morgan's Private Bank and a median of US$100 million. The Palladium 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. As of September 2016, the J.P. Morgan Palladium Card has been re-branded the J.P. Morgan Reserve Card, which is physically identical to its predecessor, but now includes a suite of improved benefits and privileges including complimentary airport lounge memberships such as United Club and Priority Pass Select, as well as being branded Visa Infinite.
Availability and fees
The J.P. Morgan Palladium Card and subsequent J.P. Morgan Reserve Card were offered to clients of J.P. Morgan Private Bank.
Card members were required to pay an annual fee of US$595. After the re-branding to the J.P. Morgan Reserve Card in September 2016, the annual fee was adjusted to US$450. There are no fees for foreign transactions, late payments, returned payments, or cash advances. The card has no pre-set spending limit, and operates as a hidden trade line where client usage activity is not reported to any credit reporting bureau.
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