How Chase Private Client Helps Get the Sapphire Reserve

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How Chase Private Client Helps Get the Sapphire Reserve

Million Mile SecretsHow Chase Private Client Helps Get the Sapphire ReserveMillion Mile Secrets Team

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Have I mentioned how excited I am about the amazing 100,000 point sign-up bonus on the Chase Sapphire Reserve card?  🙂

But I know some folks are disappointed this card is impacted by Chase’s “5/24 rule.”  Because many people in the miles and points hobby apply for new credit cards every few months.  So they’re not able to take advantage of this new offer.

That’s why I wanted to tell you how becoming a Chase Private Client could help you bypass Chase’s tougher application rules.  Million Mile Secrets team member Keith used this method to get approved for the Sapphire Reserve because he’s had more than 10 new cards in the past 24 months.

Chase Private Client Sapphire Reserve
Becoming a Chase Private Client Could Help You Bypass Chase’s Tougher Application Rules and Get You Approved for the Sapphire Reserve Card!

The Chase Private Client program might not be for everybody, but I’ll explain how it works!

What Is the Chase Private Client Program?

Link:   Chase Private Client

Chase Private Clients have access to special perks with Chase like:

  • Competitive mortgage rates when you buy a home
  • Higher ATM withdrawal limits
  • Investment and financial planning advice through J.P. Morgan
  • No fees for certain banking services like checking and savings accounts, money orders, or stop payments
  • Travel benefits like no ATM fees when traveling abroad

Note:  There are fees for folks who use financial planning and wealth management services through J.P. Morgan.  However, this service is optional for Chase Private Clients if you just keep your money in regular checking and savings accounts.

Chase Private Client Sapphire Reserve
The Chase Private Client Program Gives You Access to Special Banking and Investment Perks With Chase

Based on Chase’s marketing material, the program is designed for folks with $500,000 to $10 million in assets.

To become a Private Client you’ll usually need to bring a total of $250,000 in assets to Chase.  This can include checking, savings, investment, and retirement accounts.

Upgrade Your Chase Account

I talked with a Chase banker who said existing Chase customers can upgrade their accounts to Private Client status if they have $100,000 in deposits at Chase.  There’s no promise this works at every branch.  But it might be worth asking your banker if you’re already an existing customer.

There are no monthly or annual account fees if you just use the Chase Private Client banking program and maintain certain account balances.  You’ll just get a designation on your account and a special ATM card.

To find out if you qualify for the Private Client program, you can contact Chase or visit a local Chase branch.

Bypass Chase’s Tougher Application Rules With Private Client Designation

Doctor of Credit and folks on Reddit have discussed how being a Chase Private Client can help folks get approved for Chase cards even if they’ve had lots of new credit cards in the past 24 months.

Million Mile Secrets team member Keith is a Chase Private Client.  And this week it helped him get approved for the Chase Sapphire Reserve.

He applied for the card in a local Chase branch and the application was declined.  His Chase banker called the Chase reconsideration line who said his application was declined because he’s had too many new credit cards in the past 24 months.  According to Keith, he’s had more than 10 new cards.

It’s been tougher to be approved for most Chase cards, including the new Sapphire Reserve card if you’ve opened ~5+ cards from any bank (except these business cards) in the past 24 months.  Chase hasn’t announced an official rule.  But many refer to it as the “5/24 rule.”

Chase Private Client Sapphire Reserve
Million Mile Secrets Team Member Keith Is Eager to Earn the Chase Sapphire Reserve Sign-Up Bonus to Fly With His Wife to Europe on Lufthansa First Class for a 2nd Time!

But the Chase banker told the reconsideration representative that Keith is a Private Client with Chase.  After Keith agreed to move credit limits from existing Chase cards, he was approved!

Keep in mind, being a Chase Private Client doesn’t guarantee automatic approval for every Chase card.

Chase Private Client Sapphire Reserve – Worth it?

I don’t offer financial or investment advice, so you’ll have to see if the benefits of the Chase Private Client program make sense for your personal situation.

But if you’re already an existing Chase customer, you might want to inquire to see if you qualify.  Because there are no fees for certain parts of the program.  And the special Private Client designation might help you get the 100,000 Chase Ultimate Rewards point sign-up bonus with the Chase Sapphire Reserve card!

Bottom Line

It’s possible to bypass the Chase “5/24 rule” if you’re a Chase Private Client.  To be eligible for the program, you’ll need $250,000 in combined assets at Chase, which can include savings, checking, investment, and retirement accounts.

Being a Chase Private Client could make it easier to get the incredible 100,000 point sign-up bonus on the Chase Sapphire Reserve card!

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Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • 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®
  • Chase Sapphire Preferred named "Best Credit Card for Flexible Travel Redemption" - Kiplinger's Personal Finance, June 2018
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • 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
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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Hey Daraius,

I read on one of your blog posts in my email that you wanted to hear feedback from the experience of applying for the Chase Saphire Reserve Card.

Email me if you’d like!

I just got approved for the Chases Saphire Reserve while currently having a Chase Freedom AND a Chase Saphire Preferred card. The latter I got just under a year and a half ago. I don’t have a consistent job right now either. Nor am I a Chase Private Client. But, I was approved with a $31,000 limit. It was quick and easy.

While I have a regular Chase checking account, I have less than $2000 in it (and have never had more than $2000 in it). I am not a Chase Private Client. Nonetheless, I went to my local branch and had a banker there (she didn’t know me) submit my application. I was approved within 2 minutes for a $10,000 credit line. I’ve not applied for very many cards recently (I’m probably 4/24), but I’m wondering how important being a CPC really is for getting this card.

I think travel blogs provide a real service to folks looking for deals and tips.

But at some point, with such competition in the blog space for all the potential referral bonuses, IMO, there’s just a lot of shilling.

Basically, a lot of sites are unofficial credit card marketing departments for banks.


When i got married I wanted to invest around 40,000-60,000. When i went to chase they set me up with a private client account. They said that they want me to always use them as my money grows so they were willing to set me up as a private client for less $. it seems that 250,000 (and even the 100,000) is flexible

@Lesliej – If you’re pre-approved in-branch, I’d recommend applying with a Chase banker. Last week, Emily’s Chase banker told her folks can get approved in-branch, even after an online application has been denied.

@HS – You’ll want to check with a Chase Private Client banker about moving a brokerage account. Chase will review your account periodically to confirm your eligibility. Investment accounts are managed by a J.P. Morgan Private Client Advisor.

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