Chase Private Client: Benefits and Qualification Requirements

Chase Private Client is an elusive goal that some people want to achieve. In this post, we'll cover what the requirements are to qualify for Chase Private Client, and what the benefits are.

Chase Private Client Credit Cards

The Chase Private Client debit card is made out of plastic, not metal. In the past, Chase Private Client members could apply for the Palladium card, but the card was recently discontinued and replaced with the JP Morgan Reserve. 

The JP Morgan Reserve credit card offers the same signup bonus and benefits as the Chase Sapphire Reserve credit card. The only difference between the two cards is that you must have Chase Private Banking to qualify for the JP Morgan Reserve card. 

On a side note, having a Chase Private Client account no longer gets you around the 5/24 rule.

How to qualify for Chase Private Banking

Minimum: $10,000,000 of Investable assets*

How to qualify for Chase Private Client

Minimum: $250,000 of investable assets*

For Chase Private Client, this is not a hard minimum; they've been promoting this to people with $100,000 to "upgrade" to Chase Private Client.

Clarification: I'm referring to their fund vehicle. Money needs to be in the investment account, but you can invest however you want (ETF, stocks, etc.).

* investable assets = cash, bank accounts, securities, liquid investments

Benefits of Chase Private Client

No fees for:

  • wire transfers
  • money orders
  • counter checks/cashier's checks
  • personal checks
  • no monthly fees
  • no fees on [insert almost every other instance where banks would otherwise charge fees]

Other benefits:

  •  free 3 x 5 safety deposit box (20% discount on other sizes)
  •  $750 off closing fees on loans
  •  "best rates" for mortgages
  •  priority processing/customer service
  •  Arts and Culture card

Chase Private Client Arts and Culture Card

The Arts and Culture card is one of the most underrate perks of the Chase Private Client program. If you enjoy visiting museums of if you have a family, the cost of museum admission tickets can add up quickly.

Benefits for each museum vary — some give you complimentary admission for 1 person, some may give complimentary admission for up to 4 people, or a discount. Be sure to research the respective museum on the Chase Private Client website before visiting.  

Here's a list of museums you can get complimentary admission to with the Arts and Culture card (as of February 2018): 

a) Chicago (5) = i.e., Shedd Aquarium + The Art Institute of Chicago

b) Los Angeles (6) = i.e., Aquarium of the Pacific + MOCA

c) Miami (6) = i.e., The Florida Aquarium + Norton Museum of Art

d) New York (6) = i.e., American Museum of Natural History + Guggenheim

e) Phoenix (6) = i.e., Arizona Science Center + Heard Museum   

f) San Francisco (6) = i.e., SF MOMA + California Academy of Sciences

g) Seattle (5) = i.e., Museum of Glass + Pacific Science Center

h) Texas (6) = i.e., Dallas Museum of Art + Houston Museum of Natural Science