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76 comments
Barbara Udell
February 22, 2019
Could you provide details of the Chase Private Client Arts & Culture program.
Katie Seemann
February 22, 2019
Hi Barbara,
According to the Chase Private Client website, the CPC Arts and Culture Program offers free admission, discounts, and other benefits at select cultural institutions.
Here’s a link for more information and to search for participating institutions:
https://chaseprivateclient.chase.com/arts-and-culture
Unfortunately, it looks like this program is only available to people who live in one of the 8 regions this program services (Arizona, Chicago, Florida, NYC, Northern California, Seattle, Southern California, Texas)
Waifung Sit
March 01, 2020
Who is your CPC agent? I spoke to mine today and they said the 5/24 is a hard rule. Help?
ST
July 24, 2020
Chase changed the 5/24 CPC exceptions over a year ago. The only exceptions are for Private Banking.
Marc
May 17, 2019
I’m only 19 and have a little over $20,000 in my chase checking account (and 2 credit cards) yet when I called today they said “thanks for being a chase private client” and my call was directed to the CPC line. I asked to double check and she told me, yes I’m a CPC. How is that possible?
Christine Krzyszton
May 18, 2019
Hi Marc. It’s possible it is a mistake or your account may be linked to another Chase Private Client account.
ST
July 24, 2020
Do your parents have CPC?
TonyM
November 13, 2020
I am a current CPC and my assigned banker has not contacted me for over 1 year. I signed up with an account over the minimum. They were not clear and did not enforce the minimum and my accounts were grandfathered in from their mergers. So far I have had a negative experience with Chase. I am in process of changing banks after being with them for over 20years. The new chase bank doesn’t care about all its customers just specific ones.
Joe Lovell
June 05, 2023
Are your parents private clients? That rolls down to you.
patricia
June 18, 2019
As a chase private client member. i have a chase private client visa debit. Does it qualify for the damage loss waiver insurance when i rent a vehicle in Jamaica?
Katie Seemann
June 19, 2019
Hi Patricia,
No, your Chase Private Client Visa debit card won’t cover you when renting a car in
Jamaica. I would suggest using a credit card like the Chase Sapphire Preferred or Chase Sapphire Reserve instead.
Karthik Chawala
August 04, 2019
Is it worth enrolling into the CPC service based on the benefits it offers? And are there other banks that are providing services like this and are competitive to CPC?
Katie Seemann
August 05, 2019
Hi Karthik,
It can’t hurt to enroll in Chase Private Client if you are eligible since it’s a free service. Many other banks also offer a similar program (Citigold from Citibank or Bank of America’s Preferred Rewards Platinum or Platinum Honors programs are a couple), so it can’t hurt to evaluate them before you choose which one to go with. Thanks for reading!
Morgan
August 07, 2019
A caution – I recently upgraded my Chase account to a Private Client account. Have had negative experiences thus far.
Example – I wanted to invest the cash in a money market fund for the near term. I have a professional background in institutional investing and told the financial advisor this and he sent me forms to open a brokerage account. Once the account was open I tried to buy the fund I selected, showed up on the system but said I couldn’t buy it. This happened with 3-4 other funds in the sector. Asked the advisor about it and he said the only fund available in this sector is a JPMorgan fund (their affiliate/parent). The recent performance on that fund was around 50 bp below that of my first choice fund, very significant for a money market fund. Only when I pressed the point as to why would the system show the fund if you can’t transact in it did I learn I could buy it, not in the full service/full fee brokerage account, but in a YouInvest discount fee account. So I opened a YouInvest account and moved the funds there. But my takeaway was to be cautious and alert with this advisor and the account.
Also, I find the customer service to be poor. When I call or send emails it almost always requires follow up to get an answer. Don’t know if this is the standard level of service or perhaps because I moved the money from the full fee brokerage account, but they still have my money. Not what I would expect from a private banking account. I would also note that before opening the account I received numerous solicitation calls and emails from Chase to open a private banking account on a regular basis.
Harry
August 22, 2019
Hi Morgan,
Thanks for sharing your experience. I have the same concern and plan to join CPC. A quick question I have is – when you move the money to Youinvest account, does the money that was moved still count toward your CPC 250K balance requirement?
Thanks, Harry
Stephen Au
August 31, 2019
Hi Harry,
Yes, since Youinvest is an investment account with Chase and investment accounts count towards the Chase Private Client $250,000 balance requirement, you should be fine. However, it may be worthwhile to double check with Chase directly.
Trey
April 16, 2021
Interesting you posted something similar on another website on the same day, but a different name.
JohnB
May 01, 2021
@Morgan
If you have the JPMorgan Investors account, everything is done through your advisor. All the products are JPMorgan Chase because they make very high commissions and fees off those products. With Chase You Invest, you can buy far more financial products for low or nothing in fees. Also with an Investors account you have to pay 1.25% annually as a maintenance fee. That is in addition to loads on mutual funds, etc. For that fee, you are supposed to get comprehensive advice. My proposal meeting was like one step above buying a timeshare. It was a real hard sell for Chase products. I walked out of the meeting. They were pushing annuities and sub-standard Chase mutual funds. I have 3 accounts: Schwab, Vanguard, and Fidelity. It was shocking and very demoralizing to be talked down to like I am stupid when it comes to investing. Ran as far away as you can from JPMorgan Chase Investors! They have so many fines against them for illegal practices. That says more about Chase than anything I can say!
Daniel W Barker
October 18, 2019
Does the $100,000 balance on my Chase Mortgage count toward the $250,000 requirement?
Stephen Au
October 21, 2019
If you have an outstanding balance of $100,000 on a Chase mortgage, then no. It will not count, as the loan balance is a liability and not an asset. Thanks for reading.
Luke
October 02, 2020
You owe chase money to have a loan….. $250k is asset.
Janet
August 07, 2022
How do I get hotel discounts on my card? I was told there were travel perks.
Christine Krzyszton
August 07, 2022
Hi Janet. Let us know which card you are referring to and we’ll try to help.
JAMES FORMILLER
October 25, 2019
I have $200,000 in Chase & JP Morgan Youinvest account. I have a family LLC account that has $280,000 in a Chase business checking account. If I am 25% owner of the LLC do I get credited $70,000 toward a Chase Private Client status? Thanks
Jarrod West
October 25, 2019
Hi James,
You would need to contact Chase Bank directly to see if these figures will help you qualify.
Thanks for reading!
Mike Pal
January 26, 2020
I am a CPC with over 250K balance in a Chase Investment account. Would I lose my status if I move $150K out of Chase?
I also have an existing mortgage with Chase which has a preferred discount due to the then CPC status. Can that rate be readjusted if I lose my CPC status?
Thanks
Jarrod West
January 29, 2020
Hi Mike,
In order to continue qualifying for Chase Private Client, you need to maintain a daily average of $250,000 in Chase investments and accounts. So if you move $150k out, it is likely you will lose your CPC status.
I cannot speak to whether or not it is possible for them to adjust your mortgage rate. I would speak with your banker directly for an answer to that.
Cindy
January 03, 2021
It used to be that once you opened the account, you can take out any amount you want with no fee or penalty. There was a change in Nov 2020, now you need to maintain a 150k daily average, otherwise, there’s a $30 monthly fee. You won’t lose the status once the account is open, and they can’t change the fixed mortgage rate once the loan is closed.
Justin
April 03, 2020
So what does happen if I lose Chase Private Client status after the balance falls below $250K. Will Chase downgrade mine into a Sapphire account if the balance falls between 75K and 250K or regular account if it falls below 75K? Or they keep me under private client status and charge any fee?
Jarrod West
April 05, 2020
Hi Justin,
Per the Chase website, they state that “Chase Private Client is available to individuals who maintain an average daily balance of $250,000 or more in any combination of qualifying identified deposits and investments. If total balances in qualifying deposits and investments do not meet the Chase Private Client requirements, Chase may contact you to help determine an alternate Chase product.”
So, it sounds like the account will definitely be downgraded, but they do not specify what type of account it will be downgraded to. I imagine that will depend largely on the number of remaining funds in the account.
Bruce
April 13, 2020
Does it strictly mean you need to have 250K or more in liquid funds? or if you have Cash, a Mortgage and Credit Cards combined to be more than 250K.
Jarrod West
April 14, 2020
Hi Bruce,
It strictly refers to the amount you have in any chase banking account (savings or checking), and investment accounts. Mortgages or credit lines from your credit cards do not count.
William Cusack
April 14, 2020
Please correct me if I’m wrong.
There a no credit card benefits associated with CPC.
Stacy Christine
April 29, 2023
Would it be best to get a different Chase account if I want to earn points on purchases? I currently am a CPC member. Use my debit card for all my purchases but thinking this probably isn’t wise and should be getting something back for my purchases. Please advise. Thank you
Christine Krzyszton
April 29, 2023
Hi Stacy. If you’re referring to getting a Chase credit card so you can earn points on your purchases, here’s an article on some of the best Chase credit cards for earning rewards. /credit-cards/best-chase-credit-cards/
Jo-Anne
April 19, 2020
Would retirement investments count towards the CPC $250k minimum investment if I chose to rollover my retirement accounts to Chase?
Jarrod West
April 20, 2020
Hi Jo-Anne,
Yes, retirement investments should count towards the minimum investment amount.
Thanks for reading!
AJ
April 23, 2020
Unfortunately, this isn’t the case. Retirement investment accounts that you could rollover (such as IRA’s and 401K’s) do not count to the 250K minimum.
This has been confirmed by reports, and is currently listed in the terms at the bottom of chaseprivateclient.chase.com :
“Qualifying personal and business deposit accounts you own include this account and up to 9 Chase Private Client Checking accounts, Chase High School CheckingSM accounts, Chase personal savings accounts (excluding Chase Premier SavingsSM), Chase Liquid Cards, CDs, Chase business checking and savings accounts (balances in attorney trust accounts, client fund trust accounts, and Government or Non-Profit accounts do not qualify), or certain investment management fiduciary and custody accounts, certain Chase Retirement CDs, or certain Chase Retirement Money Market accounts.
…
Balances in 529 plans and certain retirement plan investment accounts do not qualify.”
SJ
July 24, 2020
I was told by Chase that retirement rollovers do qualify.
Luke
October 02, 2020
It does count.
JohnB
May 01, 2021
IRA and 401K Rollovers most definitely count towards Chase Private Client. It definitely qualified me. But after my experiences, I suggest you go elsewhere. Schwab, Fidelity and Vanguard all have excellent funds and programs that are far better than Chase Money-Grab Private Client!
Gertrude Bonkers
June 25, 2021
I can confirm the following is accurate as of June 24, 2021: Yes, 401(k) rollovers and IRAs into your Chase/JP Morgan investment account DO count toward the $150k minimum (which used to be $250k until recently). I just opened an acct with Chase and rolled over my 401(k) from a previous employer, and that qualified me for the CPC status. The website says I am, and all the literature and paperwork I got from them state my status.
From the way others are responding, though, it sounds like this may be a new policy that wasn’t in place back when they had a $250k minimum.
Nathan
April 30, 2020
Will Chase count your property equity towards the 250,000 to qualify for CPC? (Example: Value 500k – 300 loan = Equity 200k)
Jarrod West
April 30, 2020
Hi Nathan,
Unfortunately, home equity will not be counted towards the $250,000 needed to qualify for CPC, only personal or business deposits and investments are counted.
Thanks for reading!
KC
June 15, 2020
Any suggestions on which private client account to choose from? Chase Private Client vs. Citigold vs. BoA Preferred Platinum accounts?
Jarrod West
June 17, 2020
Hi KC,
It really all depends on how much you value the banking benefits from each. But purely based on credit card benefits, I think BoA takes the cake. The 75% Platinum Honors bonus on cards like the Premium Rewards and Cash Rewards cards can be very beneficial. BoA also has the lowest capital requirement of all three banks, so that’s something to keep in mind as well.
Thanks for reading!
William Heming
June 19, 2020
Will Chase Private client offer a securities backed LOC?
Jarrod West
June 19, 2020
Hi William,
The Chase Private Client website does not appear to offer an answer to that. I recommend you contact them directly for the answer to that question. The CPC line is 1-888-994-5626.
Thanks for reading!
richard
June 25, 2020
yes. my agent offered me this.
Doug
October 05, 2021
Yes, but excludes retirement funds, and only certain accounts count
DIANE CADY
June 29, 2020
I have been a Chase member for many years. I have always felt respected and well treated. And I have treated Chase well. A month ago, a man I did not know came onto my computer picture and started talking about his sale of new contracts for seniors. I listened for a minute and knew it was not good.
As I pulled out I became aware that a Chase person pulled my ability to do anything. It was permanent.
My view was blank. Nothing. And for a month of trying to be able to get into my Chase account, I have not been allowed to get into my Chase account. I have, with my daughter, gone to the nearest Chase office for an appointment with a Chase executive who gave us 3 phone numbers.
The situation has not changed. I am 86 years old.
Sanjay K.
August 28, 2020
You may have been scammed by someone posing as a Chase representative. Your Chase login and password is possibly compromised. Scams with Senior citizens are common because one can click on a link that can download spyware or give control of the laptop to the scammer.
Never let anyone access your computer. If you are a Senior citizen, never talk to an unknown person alone without a family member or friend with high analytical skills present.
SANJAY K.
August 28, 2020
Go to the Chase branch, withdraw all the funds and close this Chase account. Cancel your Debit card as well.
You can open a new Chase account and get a different Login and Password.
Buy a new laptop for $500. Your current laptop is compromised.
If you are bored, please develop a hobby but never talk to strangers.
Redwan
November 13, 2020
The minimum is now only $150,000 instead of $250,000.
Jarrod West
November 13, 2020
Hi Redwan,
Thanks for pointing that out! I’ve updated the post.
Palayam sundaram
January 28, 2021
Do the balances on a guardianship account count towards the required CPC balance?
Jarrod West
January 29, 2021
Hi Palayam,
The Chase website does not appear to clarify that. If you are interested in requesting a meeting to go over your qualifications to become a Chase Private Client, submit this form online.
Kelly Janes
January 29, 2021
I am refinancing my current mortgage with Chase. Does being a CPC offer any benefits for me? Are there any fees that should be waived since I am a CPC?
Jarrod West
January 29, 2021
Hi Kelly,
You should be eligible for a discounted interest rate when refinancing a home with the CPC Mortgage Rate Program.
Ethel May McMurphy
June 25, 2021
Relatively significant mortgage rate savings (.25%) occur with a minimum balance of $300k. If you merely clear the $150k minimum, the mortgage rate savings would merely be .125%.
You should do the math to figure out if it would make sense for you to tie $300k up with Chase—with its limited benefits, exorbitant fees, and commissions. In our case, it did.
Sheldon Gertel
March 13, 2021
I have been a Chase customer for many years. I have over $150,000 in a business account with Chase and $250,000 in an online account. I am wondering if I can be a Chase private client while having a business account instead of a personal account. I do not want to have to change account numbers. Please advise.
Jarrod West
March 15, 2021
Hi Sheldon,
You should be eligible for the Chase Private Client Program, but you likely will be required to open a Chase Private Client Checking account. That said, you should be fine to keep your other accounts open without needing to change account numbers. For more information regarding this, I recommend you contact Chase directly and speak with a Private Client banker.
K Narayanan
October 13, 2021
Does IRA balance count toward the balance requirement for discounted interest rate?
Jarrod West
October 18, 2021
Hi K,
Yes, your IRA with Chase should count towards the Chase Private Client requirements.
CJ
April 16, 2021
Chase called me about CPC, but I only have a balance of around $130k. Why call me if the minimum is 150?
Also, none of the benefits of CPC are compelling to me, should I still sign up, or simply keep my “regular” chase banking accounts?
Jarrod West
April 19, 2021
Hi CJ,
I cannot say as to why Chase might have contacted you about that. Perhaps it was to incentivize you to deposit more money with them in order to be eligible for CPC?
If none of the benefits are very compelling to you then there isn’t a big need to upgrade to it. That said, you could always speak to a Chase Private Client Banker to see if there is anything they can offer that might make it worth your while.
JohnB
May 01, 2021
Don’t open a Chase Private Client account. Run as far away as you from Chase Investments. Everything they sell has very high fees, for things that you can get from other investment companies for free. Try Charles Schwab.
JohnB
May 01, 2021
Chase Private Client is not “by invitation only”. Anyone that has the assets, can open an account. Retirement accounts DO count for the $150K minimum assets. I know as I just went to my 2nd meeting and I was not impressed with Chase Private Client. I just retired and easily surpass the minimums, with multiple investment accounts. The Chase Financial Advisor assigned to my local office was way more concerned about making sales and commissions than my best interests. He wanted to liquidate all my holdings and put half in a Chase mutual fund that averages 3.5% annually for the last 5 years. The other half, he wanted me to purchase an annuity. Keep in mind that all of my funds are in retirement accounts. My spouse has poor health, no way would I buy an annuity. I walked out of the meeting. The whole time, I felt that the investment advisor was talking down to me. It is insulting that Chase wants people to pay 1.25% annually on all of their holdings for such pitiful investment advice. All the “extra benefits” are fluff and can be easily duplicated for less cost. Charles Schwab offers better benefits for far less cost.
Chase Private Client is a scam to get people’s IRAs and 401Ks and make them pay fees out the yazoo for substandard investments. Don’t do it.
DrVinayaS
June 11, 2021
You are wasting your time on this forum trying to bring down Chase. It sounds like you had one bad meeting with an advisor that was trying to make sure you understood his plan. If you don’t like what he has to pitch, he has hundreds of other viable scenarios for you. It’s based on what is best for YOU. They explained to me and my spouse, they need to learn as much as possible about us to give the best advice, and we have received impressive returns on our investments. It sounds like you walked into the meeting with a negative outlook, and that’s what you got out of it.
Hattie deVries
June 25, 2021
JohnB, I think you had a “rotten” team of Chase employees taking care of you at that branch, and I suspect yours may not be a typical CPC experience. I recently opened a Chase account (and I was granted the CPC status at the time), and the experience has been SUPER, coming from years of “meh” service at BoA and Citi.
My assigned banker has been extraordinarily courteous, caring, knowledgeable, and efficient. The CPC investment advisor from JP Morgan has been responsive to my requests (e.g., if mutual funds, go for no-loads or low fees; nothing with maintenance/operational cost over 1%, etc.). So, I have no complaints thus far.
May 01, 2021
Chase considered balances in Jpmorgan investment accounts up till the change this year. Now they no longer do. I have about $850,000 in investment accounts at JPMorgan and for many years qualified as a private client account. I am also a JPMorgan employee.
Since the new changes, I no longer qualify to be a chase private client because I do not hold $150,000 in my chase account.
I find it absurd that chase and JPMorgan, that is one firm, are making this distinction. This change means that, as a non private client account, I would be charged a $40.00 wiring fee each time I send funds internationally. I send funds several times a year to my family. Do I have to transfer money to chase to complicate my life to qualify?
Hal
July 01, 2021
Ridiculous, many benefits are offered by many other banks at lower fees… With the removal of arts and culture I have no reason to stay a CPC and am considering moving to BOA.
xela
October 08, 2021
Most of you guys misusing the “minimum” total amount for CPC qualification. Nothing is “used to be” or has changed. There are three different lines here. First, one can still remain a Private Client even when one’s total drops below $150K, it’s just you’ll be charged $35 monthly fee. Second, $150K is and has always been the minimum for Private Client to avoid $35 fee, and finally, one would have to bring their total to the minimum of $250K in order to qualify for the $2,000 bonus. Once you kept at least $250K for 90 days and eventually received your bonus, you can return to one of the first two levels (either =$150K with no fee).
Dave
November 17, 2021
I’ve been looking for a bank program with fewer fees, and finally found it.
MH
August 11, 2022
If I am nowhere near having a balance of $150,000 in the bank, let’s say I’ve got $1,500 in the bank.
Will I even receive one of these offers by mail at my home?
Christine Krzyszton
August 12, 2022
Hi MH. It’s possible you might receive an invitation in error but to actually qualify as a Chase Private Client, you need to have a daily average of $150,000 in Chase investments and accounts or share an account with someone who does.
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