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J.P. Morgan Reserve Card (Formerly Chase Palladium): Everything You Need to Know

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer.

The information related to the J.P. Morgan Reserve Card has been collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.

The Chase Palladium Card, now known as the J.P. Morgan Reserve, is a high-end, invite-only credit card available to Chase Private Bank Customers. Despite its exclusivity, the card itself doesn't offer any special benefits beyond the novelty of being made out of a rare chemical element, palladium. The Amex Centurion Card is far more interesting from a benefits standpoint since it provides no preset spending limit and other features that are hard to find elsewhere.

About The J.P. Morgan Reserve Card (Formerly The Palladium Card)

The J.P. Morgan Reserve Card was introduced in 2009 and is intended for super high-net worth individuals. To get an invitation to the card, cardholders must have a minimum of $10 million is assets managed by J.P. Morgan's Private Bank. It is one of the few invitation-only credit cards in the United States. The closest card by comparison is Amex's Centurion Card, sometimes referred to as the Amex Black Card.

Though the J.P. Morgan Reserve Card now features a set of attractive benefits and features, it acts as more of a status symbol. It's constructed out of brass and palladium—which is where the card got its original name. The J.P. Morgan Reserve has a $595 annual fee, which is higher than most cards. Still, this is far lower than the annual fee on its direct competitor, the Amex Centurion Card which charges $2,500 per year.

From a benefits standpoint, this card is extremely similar to the Chase Sapphire Reserve®. They sport the same sign-up bonus, similar point-earning potential, and even provide similar airport lounge access. You can check out how the two cards stack up against each other below.

Bottom Line: The J.P. Morgan Reserve Card is no more than a novelty. It was the card-of-choice for former President Barack Obama, which may be the most extraordinary thing about it. All the rewards and features we uncovered through research are not drastically different than what you can get through other Chase credit cards.

J.P. Morgan Reserve Card Benefits & Features

The J.P. Morgan Reserve Card awards three points per dollar spent on travel and at restaurants. All other purchases will get you one point per dollar. Chase considers flights, cruise lines, hotels, car rentals, trains and taxis to be part of 'travel'. Restaurants include anything from fast food to fine dining, cafes, and pizzerias. 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, though this will get you just $0.01 per point.

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J.P. Morgan Reserve Card

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  • 3x Points on travel worldwide
  • 3x points on dining
  • $300 annual travel credit
  • No blackout dates or restrictions
  • Chase Ultimate Rewards transferrable to 11 hotel and airline partners
  • VIP Access to events & experiences
  • Purchase Protection, Price Protection, and Extended Warranty Protection
  • Visa Infinite benefits
  • 3x Points on travel worldwide
  • 3x points on dining
  • $300 annual travel credit
  • No blackout dates or restrictions
  • Chase Ultimate Rewards transferrable to 11 hotel and airline partners
  • VIP Access to events & experiences
  • Purchase Protection, Price Protection, and Extended Warranty Protection
  • Visa Infinite benefits
Annual Fee
$595
Regular APR
Credit Needed
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Excellent
Editor's Rating
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The information related to the J.P. Morgan Reserve Card has been collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.

Since the J.P. Morgan Reserve Card is part of Chase Ultimate Rewards, cardholders are allowed to transfer their points to one of 11 airline and hotel partners. Optimizers can use this method to get even more value out of a single point. You can easily exchange Ultimate Rewards for travel miles and points that are worth $0.02 or more. Here is a full list of the Ultimate Rewards travel partners:

  • British Airways Executive Club
  • Korean Air SKYPASS
  • Singapore Airlines KrisFlyer
  • Southwest Airlines Rapid Rewards®
  • United MileagePlus®
  • Virgin Atlantic Flying Club
  • Hyatt Gold Passport®
  • Marriott Rewards®
  • IHG® Rewards Club
  • Ritz Carlton Rewards®

The last card benefit worth mentioning is the $300 annual travel credit. The best thing about it is the that it's applied automatically to your account, whenever you make a purchase. For example, if you use your J.P. Morgan Reserve to purchase a $1,000 airline ticket, $300 will be credited towards your following statement.

How Does the J.P. Morgan Reserve Card Compare to Other Cards?

It's impossible to get a sense for how good a card is in a vacuum. That's why anytime we evaluate a credit card, we like to compare it against similar offers. Below you'll see how the J.P. Morgan Reserve card did when matched up against its competitors.

J.P. Morgan Reserve Card (Palladium Card) vs Amex Centurion Card

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The Amex Centurion Card, sometimes referred to as the Black Card, is a far more interesting offer. The card provides a gamut of elite memberships with hotel chains. Cardmembers also have no preset spending limit, which famously led one Chinese billionaire to buy a million-dollar painting using his Black Card. These types of benefits help the Centurion Card stand out as a special card. Unlike the J.P. Morgan Reserve card it offers more than simple exclusivity. That being said, the Black Card is a lot more expensive. It has an annual fee of $2,500—which is four times more expensive than what the J.P. Morgan Reserve card charges. Still, given the fact that these cards are targeted at extremely high net worth individuals, we imagine the actual distinction doesn't mean much.

The information related to the Centurion® Card from American Express has been collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information.

J.P. Morgan Reserve Card (Palladium Card) vs Chase Sapphire Reserve®

  • On Chase's Secure Website
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Not only are the J.P. Morgan Reserve Card and the Chase Sapphire Reserve® similar in name, but in benefits as well. Virtually all of the perks you can get on the Palladium credit card are offered on the Chase Sapphire Reserve®. You earn the same number of points on every purchase and you get the same $300 annual travel credit (3 points on travel after you earn the $300 travel credit). Even though the benefits are the same, the annual fees are not. The Chase Sapphire Reserve® charges $550 per year, compared to the $595 on the J.P. Morgan Reserve Card.

Comparison Tool

We've built a comparison to give you an estimate how much rewards you can earn with the J.P. Morgan Reserve Card, compared to comparable cards.

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Assumptions based on $1,430 monthly spend
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These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).

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