J.P. Morgan Retiring Palladium Card, Offering Bonus Points For Existing Cardholders
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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.
WELCOME OFFER: 60,000 Points
TPG'S BONUS VALUATION*: $1,200
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel