New Chase Premium Cards in the Works
Chase seems to be working on two new credit cards that could be a step above the Chase Sapphire Reserve. It’s all just a rumor right now and we don’t know many details about these cards.
What we do know, based on reports from Doctor of Credit, is that a consumer and a business card could launch soon, maybe as this year. The two cards are part of “Project Emerald”. It’s not clear if that will be the name of the cards.
Both cards are tailored towards Chase Private Clients (CPC). This is a program that gets you some extra perks, but you normally need a balance of $150,000 or more across your Chase accounts in order to join.
Since Chase Private Client status is required, I would assume that these will be premier products. Currently Chase has the Sapphire Reserve as its most expensive card, and that’s in line with the Amex Platinum Card. Maybe the new cards could rival the Centurion Card?
This is all speculation for now, so let us know in the comments what you expect to see from Chase if these cards come to market!
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and … a message to Chase …: If you want to be successful with that big plan of your luxury card for CPC folks, you’ll have to shape up your approval and delivery process ! In comparison to Amex, you’ve been medieval ! …: … 5/24 rule … then wait time for delivery of the card is endless, sometimes up to two weeks … then you don’t reveal the number right away so I cannot use it after approval … then you have a whole lot of representatives who don’t know how to add a new card into an existing online profile … All this is really ridiculous and has been so incredibly annoying and unprofessional that I have lost interest in applying for your cards. So, if you want me to be interested in your new cards, you’ll have to shape up substantially !
If they did roll out with a new card it would probably be the equivalent to the rumored Amex Optio Card., since the JP Morgan Reserve is their top tier card.
Note, the JP Morgan Reserve is also available to JP Morgan Private Clients. Minimum is $750k in assets.
For the uninitiated, the JPM Reserve is the Chase Sapphire Reserve with an unpublished benefit of United lounge access. It is as special as the Goldman Sachs version of the Amex Platinum Card. Which is, it’s not. Just remember what Mr. Spock said: “After a time, you may find that ‘having’ is not so pleasing a thing after all as ‘wanting.’ It is not logical, but it is often true.”
In these surveys that Chase and Amex sometimes send asking really detailed questions about credit card use, and what I favor in terms of perks, I have always told them – and I know this sounds arrogant – that for those folks traveling a lot for business, it would actually be great to have a ‘super-powered’ card – (and I agree: The Centurion card is actually stupid) – It would have to be a card that dispenses with the foolish half-hearted kinds of benefits that are useful for some folks but not for others.
What I mean concretely: I want a card bonus worth $3000 with minimum spend (maybe $15K or so). I want 10 times the points for travel booking. I want those points directly, and not be forced to go through their travel portal. I want airline club membership as part of the card. I want at least $500 travel credit. I want premium status with hotels and rental car companies. And – for heaven’s sake: I want free Internet inflight. Plus REAL travel insurance. I could come up with a number of other things.
The Amex Plat and The Chase Saph Res are really good cards. But a high powered card as described above … charge me an annual fee of $1500, I don’t care … I’ll take it. … like I said: It’ll sound arrogant !
You are on point. A few years ago, I suggested to Amex’ CEO that high-end customers want a single silver bullet card. They don’t want to jack around with this card for this charge and that card for that charge. The silver bullet card would roll up the highest category earn rate from the Platinum, Gold, Green, and EDP . . . and Amex would charge an annual fee equal to the sum of the annual fees of those cards. The problem is that no one would want the Centurion Card. As such, it will likely never happen.
Yes – REAL travel insurance that you can collect on. I do not have confidence regarding travel insurance that is included on my premium type credit cards. I have never heard of anyone successfully collecting on medical evacuation coverage using the credit card benefit.
Let’s not bring up the Amex Centurion Card. It is worthless. It’s a mug’s card. 1X on everything. The benefits (I have screenshots) are virtually all fulfilled via third parties and attainable directly from those third parties. Add up all of your instances of usage and it ain’t $5000 per year. Trust me.
Then, if you want the International Arrivals benefit (which you can otherwise secure directly for about $250), you *must* book your airfare via Centurion Travel at 1X (and forego your Platinum 5X). If you want the hotel upgrade at booking (which is only one notch from what you book), you *must* book your hotel via Centurion Travel at 1X (and forego your Platinum 5X). The icing on the cake is that it is not uncommon for the airfare and hotel rate you pay through Centurion Travel to be higher than other platforms or even direct. Etc., etc., etc.
PS – And, when one is traveling and has a request for dining or tickets to some event, it is not uncommon for the Centurion Concierge to task one’s hotel concierge (in an all too impolite tone). You learn about this when the Centurion Concierge forgets to copy your itinerary from the hotel’s letterhead to Amex letterhead . . . and forwards it on the hotel’s letterhead. Oops! Tip: Start with the hotel concierge.
Sweet! Was wondering my cpc would get me besides free checks lol
CPC is great for debit cards with no foreign transaction fees anywhere in the world. We created a separate checking account for travel. We only keep a couple of hundred dollars in it and that’s the debit card I carry with me all the time. If I need to get cash, I transfer in from our regular checking.
I was able to add a checking account for my son and DIL, too, to use for travel. I have to be on the account. So, it is my DIL and me. We can both see it from our Chase log-ins.
With designated low balance accounts, I don’t worry as much if the cards are stolen. I never carry the card for my regular CPC checking any more.
P2 is an Angel Investor. He sometimes has to wire money for investments. CPC has free wires.