All banks have different levels of credit cards that give certain benefits, exclusivity and are given only to customers with higher incomes. These cards are usually divided into basic cards, the ones most people have, and the gold or platinum.
If you feel that you are an exclusive client because your bank gave you a gold or platinum card, you have to know that there is one that only the “1% of the 1% of the world population”.
This is the JP Morgan Reserve Card, issued by the American bank JP Morgan and is only obtained by invitation. That is, no one can request it, it does not matter if you have an impeccable credit history, it is reserved only for your most exclusive clients.
How is this card?
The JP Morgan Reserve Card was first issued in 2009 under the name Palladium Card due to the materials it is made from. It weighs five times more than a conventional credit card due to its composition of 24-carat gold and one ounce of pure palladium, two precious metals.
The card itself is worth approximately $1,000 for the materials it is made from. It was one of the first ultra-premium cards to have a smart chip.
What benefits does this card give?
The first, and perhaps most important, is that this card has an unlimited line of credit. Plus, there are no fees for changes, late payments, cash advances, or overdrafts. In 2016, when it was renamed the JP Morgan Reserve Card, other benefits were included, such as free memberships in airport lounges.
The holders of these cards pay only an annuity of 595 dollars, approximately 12 thousand Mexican pesos.
Who can have this card?
As we mentioned at the beginning, this card cannot be requested, regardless of who the client is or their credit history. It is reserved for only a few exclusive JP Morgan clients.
These members must have at least 10 million dollars in assets under management of the investment bank, and 100 million dollars in a checking account.
In 2012, Bloomberg described that this card is only “for 1% of 1%” of the world’s population.
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