JP Morgan Reserve Credit Card Review

The J.P. Morgan Reserve Card, formerly known as The Chase Palladium Card, is an exclusive high-tier, invite-only credit card only available to private bank customers of Chase. That’s right, there’s no JP credit card application for this card, the only way you’re going to get an application is if you’re personally invited by Chase.

 

There’s no question about it, this is one of the most exclusive credit cards you could ever own. With a card being this exclusive, the benefits have to be out of the park, right? Well, let’s get to the review to find out.

 

J.P. Morgan Reserve Card: A unique card without any exclusive benefits

 

The J.P. Morgan Reserve Card was introduced in 2009 and is intended for very high net worth individuals. To get an invitation to the card, cardholders must have a minimum of $10 million in assets managed by J.P. Morgan’s private bank. It is one of the few invitation-only credit cards on the market. If any card could be compared to the JP Morgan Reserve Card, it would likely be the Centurion Card from American Express, also referred to as the Amex black card.

 

The J.P. Morgan Reserve Card does have attractive benefits and features, but many of these benefits can be found on other Chase-issued credit cards. It’s constructed out of brass and palladium, which is how the card got its original name. The J.P. Morgan Reserve Card annual fee is $595 – one of the highest credit card fees in the world.

 

J.P. Morgan Reserve Card Rewards

 

The J.P. Morgan Reserve Card comes with a long list of benefits. As you read down the list, you may notice the benefits are very similar to the Chase Sapphire Reserve. When you are approved for the J.P. Morgan Reserve Card, you will earn:

 

  • 3X points on travel worldwide immediately after earning your $300 annual travel credit. Plus, 3X points per $1 spent at restaurants and 1 point per $1 on other purchases
  • Comprehensive travel insurance coverage including trip cancellation/interruption insurance
  • Primary Rental Car Insurance
  • 10X points/dollar on Lyft rides (through March 2022)
  • Priority Pass Lounge Access
  • $300 Flexible Travel Credit
  • $100 Statement Credit For TSA PreCheck/Global Entry
  • Complimentary DashPass Subscription For DoorDash
  • Complimentary Year Of Lyft Pink
  • VIP sports and entertainment privileges
  • Access to VIP events and experiences hosted by Chase
  • Special benefits at the Luxury Hotel and Resort Collection
  • 24/7 direct access to customer service specialists
  • 0% foreign transaction fee

 

At the moment, they also have some special benefits for Peloton, those include:

 

  • Earn 10x total points on Peloton equipment purchases, plus up to $120 back on an All-Access Membership. Get an immersive cardio experience that will keep you coming back for more. Through March 2022, earn 10x total points on each Peloton equipment and accessory purchase over $1,800, with a max earn of 50,000 total points.
  •  After ordering, get started right away with a complimentary Digital Membership from Peloton. When your equipment arrives, you can also earn up to $120 back from Chase on a Peloton All-Access Membership through December 2021.
  • Not ready for equipment? Get up to $120 back on a Peloton Digital Membership.Access thousands of workout classes through the Peloton App, including cardio, strength, yoga and more on your phone, tablet or TV. Get started with a free trial from Peloton, then earn up to $120 back on a Peloton Digital Membership through December 2021.

 

All of the points you earn are worth $0.015 when redeemed for travel through the Ultimate Rewards website. You can also trade the points in for cashback, you’ll get $0.01 per point. If you’re looking for the best cash back cards, check this: Best Cash Back Credit Cards

 

Transferable points

 

The J.P. Morgan Reserve Card is part of Chase Ultimate Rewards, which gives you the ability to transfer your points to one of 13 airline and hotel partners. For those of you that are trying to maximize your point values, this is a great way to make it happen. You can exchange Ultimate Rewards for travel miles and points that are worth $0.02, some even higher.

 

Here’s the list of Ultimate Rewards travel partners:

 

  • Air France/KLM Flying Blue
  • Aer Lingus
  • British Airways Executive Club
  • Emirates Skywards
  • Iberia Plus
  • IHG Rewards Club
  • JetBlue Airlines
  • Korean Air SKYPASS
  • Marriott Bonvoy
  • Singapore Airlines KrisFlyer
  • Southwest Airlines Rapid Rewards®
  • United Airlines MileagePlus®
  • World of Hyatt

 

Looking for the top travel cards? If so, see this: Top Travel Credit Cards

 

Travel Credit $300

 

The $300 annual travel credit on the JP Morgan Reserve may sound familiar to some Chase card holders. This is because it’s the same benefit offered on the Chase Sapphire Reserve. The benefit is automatically applied to your account whenever you make a purchase, the first $300 in travel purchases per cardmember year will be covered by the $300 travel credit.

 

Is The J.P. Morgan Reserve Card Right For Me?

 

The majority of you reading this will never have $10M in assets with Chase’s private bank. This is also an invite-only credit card, so you have to be invited to join. If you do own ten million dollars in assets with Chase, you may get an invite sooner than later.

 

The JP Morgan Reserve Card has a ton of great benefits and perks, if you ever get the opportunity to apply, we’d recommend taking advantage of it.

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