J.P. Morgan Reserve Card
| Company type | Credit card |
|---|---|
| Industry | Financial services |
| Founded | September 2009 |
| Founder | J.P. Morgan |
| Products | Credit card |
| Owner | J.P. Morgan |
The J.P. Morgan Reserve Card, initially introduced as the Palladium Card, is a credit card provided by J.P. Morgan and operates on the Visa platform. This card is exclusively available to the firm's most affluent clients within its global private banking division. Manufactured from a brass alloy, the card is laser-etched and coated with layers of palladium and 23-karat gold. Access to this card is by invitation only, granted solely at the discretion of J.P. Morgan. It does not report activity to credit bureaus nor does it have a predetermined credit limit, positioning it as a symbol of prestige among wealthy individuals.
History
Introduced in September 2009 in the aftermath of the 2008 financial crisis, the card was designed for J.P. Morgan’s clientele with substantial wealth. Its initial designation, Palladium Card, highlighted its distinctive metal construction. In September 2016, it was renamed the J.P. Morgan Reserve Card. Bloomberg characterized it as a card for the "1% of the 1%." While J.P. Morgan does not officially disclose criteria, prospective holders are generally understood to maintain at least US$10 million in assets under management (AUM) with the firm’s private bank. Globally, there are roughly 5,000 holders of this exclusive card.
Physical specifications
The J.P. Morgan Reserve Card was among the pioneering U.S. credit cards to incorporate EMV smart chip technology. Crafted from brass and plated with palladium, it weighs approximately 1 ounce (28.35 grams), making it five times heavier than a typical plastic credit card and twice as heavy as the titanium American Express Centurion Card.
Features
| Region | Annual fee | Initiation fee | Credit limit | Eligibility |
|---|---|---|---|---|
| United States | US$595 | None | Unlimited | Reported minimum of $10 million AUM with J.P. Morgan |
| United Kingdom | £500 | None | Unlimited | |
| European Union | €555 | None | Unlimited | |
| China | ¥4,000 | None | Unlimited |
See also
- American Express, including the Centurion Card and Platinum Card
- Mastercard and Visa
- Credit score in the United States
- Banking in the United States
Notes