J.P. Morgan Reserve Card Rewards & Membership 2020 Review

J.P. Morgan Reserve Credit Card: The J.P. Morgan Reserve is one of the most exclusive. Its benefits, however, are almost identical to those of the Chase Sapphire Reserve, which anyone with excellent credit might qualify for.

J.P. Morgan Reserve Card Rewards & Membership 2020 Review

There is one key requirement to receive your invitation for the J.P. Morgan Reserve Card. You must have at least $10 million in assets with J.P. Morgan Private Bank.

If you can clear this hurdle, you can receive an invitation for the J.P. Morgan Reserve Card. Other banks might offer their invite-only cards to customers with high monthly spending power. That’s not exactly the case here.

What is the J.P. Morgan Reserve Card?

The J.P. Morgan Reserve was previously called the Chase Palladium card because it’s made of palladium, a metal that can cost $64 a gram. (You can supposedly get a plastic version, too, but it isn’t contactless.)

It is the heaviest credit card on the market, clocking in at 27 grams. Although the price of palladium fluctuates, it’s easy to see why this card is so exclusive — and so precious!

As Eric, an alleged cardholder commented on YouTube: “Be prepared — this card attracts a LOT of unwanted attention. A lot. It’s nearly impossible to pay for something without someone commenting on how heavy it is, how it can cut someone’s head off, or another of a dozen comments I’ve now heard 10k times.”

When the Chase Sapphire Reserve was introduced in 2016, the Palladium card adopted its new name: the J.P. Morgan Reserve. It also adopted many of the same exact benefits and features.

The big difference? While anyone can apply for the Sapphire Reserve, you reportedly must be a member of J.P. Morgan’s private bank to apply for the J.P. Morgan Reserve card.

And, in order to be a member of that private bank, you need to have more than $10 million in investible assets. Not exactly chump change!

J.P. Morgan Reserve Card Benefits

As noted above, the benefits of the J.P. Morgan Reserve card look nearly identical of those of the Chase Sapphire Reserve, which is one of the best travel rewards cards around.

In fact, the only difference you might spot is a United Club membership. Though it’s not listed as an official benefit, rumor has it that the J.P. Morgan Reserve comes with an annual United Club membership, which grants you access to more than 1,000 United and Star Alliance lounges worldwide.

Beyond that, its points, benefits, and perks mirror the Sapphire Reserve:

Chase Ultimate Rewards Points Earned

  • 3X points/dollar spent on travel (after the $300 credit is used) and dining
  • 10X points/dollar on Lyft rides (through March 2022)
  • 1X point/dollar on everything else

Statement Credits & Memberships

  • $300 annual travel credit (reimbursement for travel expenses like airfare, train/bus tickets, hotels, rental cars, and even parking)
  • Priority Pass Select membership (airport lounge access at 1,200+ locations)
  • Complimentary DashPass subscription ($0 delivery fee and reduced service fees on DoorDash orders over $12)
  • $60 in annual statement credits for DoorDash (through at least 2021)
  • Complimentary year of Lyft Pink (which includes “preferred pricing” and “priority airport pickups”)
  • $100 application fee credit for TSA PreCheck / Global Entry (once every four years)

More Travel Perks & Insurance

  • Excellent travel insurance, including trip cancellation/delay, baggage delay/loss, and primary car rental coverage
  • Access to Chase’s Luxury Hotel & Resort Collection (free breakfast! and room upgrades!)
  • 24/7 direct access to customer service specialists
  • VIP sports and entertainment privileges
  • No foreign transaction fees

Redeeming Points for Travel

Like the Chase Sapphire cards, which are also some of the best rewards credit cards, the J.P. Morgan Reserve earns Chase Ultimate Rewards points.

These points are redeemable for award travel, cashback, gift cards, and Amazon.com shopping points.

Your points are always worth at least 1 cent each when redeemed for non-travel rewards. However, they are most valuable when redeemed for award travel.

Your two travel redemption options are booking award travel through Chase or 1:1 point transfers.

50% Travel Redemption Bonus

The first option is booking award travel using the Chase Ultimate Rewards portal. Whether you book flights, hotel nights, rental cars, or anything other award travel option, each point is always worth 1.5 cents each.

This means your points are worth 50% more than the average credit card point, regardless of the bank. Redeeming 50,000 points through Chase means you can book $750 in award travel but only $500 in cash statement credits thanks to the 50% bonus.

This is usually a better option for booking economy-class flights, hotel nights, and rental cars.

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Point Transfers

A second and usually more valuable option is 1:1 point transfers to airline and hotel partners. This is a better option when your points can be worth more than 1.5 cents each.

Transferring your points to airlines is almost always the best way to find at least 1.5 cents from each point. First-class and business class seats let you find the most value as points can easily be worth between 2 and 8 cents, depending on the airline and route.

One example is flying business class from Newark to Rome on United. Paying cash for a one-way ticket costs $8,000 or the award ticket costs 70,000 points plus $19.80.

This redemption is one of the best options because each point is worth approximately 11 cents each.

You can transfer your points on a 1:1 basis in 1,000-point increments. Most transfers happen instantly.

Airline Partners Air Lingus

Hotel Partners

  • IHG Rewards Club
  • Marriott Bonvoy
  • World of Hyatt

The J.P. Morgan Reserve Credit Card has similar benefits to the Chase Sapphire Reserve. However, this card will turn heads as it’s made of palladium.

It’s also one of the hardest credit cards to get which also says something if you get an invitation.

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