The J.P. Morgan Reserve Card, formerly branded and colloquially known as the Palladium Card, is a

credit card A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the o ...

issued by J.P. Morgan on the

Visa Visa most commonly refers to: *Visa Inc., a US multinational financial and payment cards company ** Visa Debit card issued by the above company ** Visa Electron, a debit card ** Visa Plus, an interbank network *Travel visa, a document that allows ...

network. It is reserved for the wealthiest clients of the firm's global

private bank Private banks are banks owned by either the individual or a general Partner (business rank), partner(s) with limited partner(s). Private banks are not incorporation (business), incorporated. In any such case, creditors can look to both the "enti ...

. The card is minted out of a

brass Brass is an alloy of copper (Cu) and zinc (Zn), in proportions which can be varied to achieve different mechanical, electrical, and chemical properties. It is a substitutional alloy: atoms of the two constituents may replace each other wit ...

alloy,

laser A laser is a device that emits light through a process of optical amplification based on the stimulated emission of electromagnetic radiation. The word "laser" is an acronym for "light amplification by stimulated emission of radiation". The fi ...

-engraved, and plated with metal

palladium Palladium is a chemical element with the symbol Pd and atomic number 46. It is a rare and lustrous silvery-white metal discovered in 1803 by the English chemist William Hyde Wollaston. He named it after the asteroid Pallas, which was itself na ...

and 23-

karat The fineness of a precious metal object (coin, bar, jewelry, etc.) represents the weight of ''fine metal'' therein, in proportion to the total weight which includes alloying base metals and any impurities. Alloy metals are added to increase hardne ...

gold. Eligibility for the card is not fully known as it is invitation-only and at the discretion of J.P. Morgan. The card does not report to

credit bureau A credit bureau is a data collection agency that gathers account information from various creditors and provides that information to a consumer reporting agency in the United States, a credit reference agency in the United Kingdom, a credit repor ...

s or maintain a pre-set

credit limit A credit limit is the maximum amount of credit that a financial institution or other lender will extend to a debtor for a particular line of credit (sometimes called a credit line, line of credit, or a tradeline). This limit is based on a variety ...

. It is considered a status symbol among the affluent.

History

The card was launched in September 2009, following the 2008 financial crisis, for J.P. Morgan's ultra-high-net-worth clients. Its original name, the Palladium Card, reflected the card's composition: minted out of a

alloy,

-engraved, and plated with metal

. The card was re-branded as the J.P. Morgan Reserve Card in September 2016. ''

Bloomberg Bloomberg may refer to: People * Daniel J. Bloomberg (1905–1984), audio engineer * Georgina Bloomberg (born 1983), professional equestrian * Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician and m ...

'' described the Palladium Card as the "card for the 1% of the 1%". Clients of J.P. Morgan who are invited to carry the card must have a reported minimum of

US$ The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...

10 million in assets under management (AUM) with the private bank. The firm declined to confirm this figure as part of their eligibility requirements. There are only 5,000 Palladium card holders worldwide.

Physical specifications

The Reserve Card was one of the first U.S. credit cards to adopt EMV smart chip technology. With its 23-karat gold construction and palladium plating, the card weighs 1 ounce or 28.35 grams, five times the weight of a conventional plastic credit card and twice the weight of the titanium constructed American Express

Centurion Card The American Express Centurion Card, colloquially known as the Black Card, is a charge card issued by American Express. It is reserved for the company's wealthiest clients who meet certain net worth, credit quality, and spending requirements o ...

. The value of the materials used to construct the card is $1,000.

Features

Notes

External links

References