J.P. Morgan Retiring Palladium Card, Offering Bonus Points For Existing Cardholders
Update: Some offers mentioned below are no longer available. View the current offers here.
Last summer, we reported that Chase would be replacing its most exclusive product, the Palladium card, with an updated product known as the J.P. Morgan Reserve card. If you hold the Palladium card, you had the option to 'upgrade' to the new JPM Reserve card after it was announced last August. Now, however, it appears that you're not going to be able to hold on to the Palladium for much longer.
TPG received some literature from J.P. Morgan explaining that his (now canceled) Palladium account would be converted into a JPM Reserve account as of July 17, 2017. In case you've forgotten about this card, here's a refresher on some of the notable features of the product, which match those of the Chase Sapphire Reserve:
- Earn 3 points per dollar spent on travel and dining expenses
- $300 annual travel credit
- No foreign transaction fees
- Priority Pass Select membership
- $450 annual fee; $75 for each authorized user
Though we were expecting these features on this card, the literature provided by Chase does contain some notable information — J.P. Morgan is offering Palladium cardholders who will be transitioning to the JPM Reserve card 35,000 bonus Ultimate Rewards points if they spend at least $75,000 between the anniversary date and the date that the account changes over.
TPG featured card
at Bilt's secure site
Terms & restrictions apply. See rates & fees.
| 1X | Choose to earn up to 1X points on rent and mortgage payments with no transaction fee |
| 2X | Earn 2X points + the option to earn 4% back in Bilt Cash on everyday purchases |
Pros
- Choice to earn up to 1 Bilt Point per dollar spent on rent and mortgage payments
- Elevated everyday earnings with both Bilt Points and the option to earn Bilt Cash
- $400 Bilt Travel Portal hotel credit per year (up to $200 biannually)
- $200 Bilt Cash annually
- Priority Pass membership
- No foreign transaction fees
Cons
- Moderate annual fee
- Designed primarily for members seeking a premium, all-in-one card
- Earn points on housing with no transaction fee
- Choose to earn 4% back in Bilt Cash on everyday spend. Use Bilt Cash to unlock point earnings on rent and mortgage payments with no transaction fee, up to 1X.
- 2X points on everyday spend
- $400 Bilt Travel Hotel credit. Applied twice a year, as $200 statement credits, for qualifying Bilt Travel Portal hotel bookings.
- $200 Bilt Cash (awarded annually). At the end of each calendar year, any Bilt Cash balance over $100 will expire.
- Welcome bonus (subject to approval): 50,000 Bilt Points + Gold Status after spending $4,000 on everyday purchases in the first 90 days + $300 of Bilt Cash.
- Priority Pass ($469/year value). See Guide to Benefits.
- Bilt Point redemptions include airlines, hotels, future rent and mortgage payments, Lyft rides, statement credits, student loan balances, a down payment on a home, and more.