J.P. Morgan Reserve Card

The J.P. Morgan Reserve Card, formerly branded and colloquially known as the Palladium Card, is a credit card issued by J.P. Morgan on the Visa network. It is reserved for the wealthiest clients of the firm's global private bank. The card is minted out of a brass alloy, laser-engraved, and plated with metal palladium and 23-karat gold. Eligibility for the card is not fully known as it is invitation-only and at the discretion of J.P. Morgan. The card does not report to credit bureaus or maintain a pre-set credit limit. It is considered a status symbol among the affluent.

History

The card was launched in September 2009, following the 2008 financial crisis, for J.P. Morgan's ultra-high-net-worth clients. Its original name, the Palladium Card, reflected the card's composition: minted out of a brass alloy, laser-engraved, and plated with metal palladium. The card was re-branded as the J.P. Morgan Reserve Card in September 2016. Bloomberg described the Palladium Card as the "card for the 1% of the 1%". 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. The firm declined to confirm this figure as part of their eligibility requirements. There are roughly 5,000 J.P. Morgan Reserve cardholders worldwide.

Physical specifications

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.

Features

See also

• American Express, Centurion Card, and Platinum Card
• MasterCard and Visa
• Credit score in the United States
• Banking in the United States

Notes

External links

• Official website

References

1. J.P. Morgan & Co.
2. JPMorgan Chase
3. Black card
4. American Express
5. Palladium (disambiguation)
6. Morgan Stanley
7. Centurion Card
8. Discover Card
9. Private banking
10. Federal Reserve
11. Wealth management
12. Visa Inc.
13. First Chicago Bank
14. Bankers Trust
15. Bank One Corporation
16. Titanic conspiracy theories
17. American Queen
18. Citigroup
19. List of last words (20th century)
20. History of the Federal Reserve System