Updated on September 30, 2016
Approved for the JPM Reserve 100,000 Bonus Offer
This morning, my friend received a call from a JPM representative to confirm some details about his application. After 5 minutes, he was approved for the new JPM Reserve card, with the 100,000 sign-up bonus. That's on top of his recent Chase Sapphire Reserve 100k approval! That's right, he just locked in an easy 200,000 Ultimate Rewards bonus from 2 Reserve card signups!
After I heard this, I checked my Chase account online… I was approved too!
UPDATE: The card arrived. Check out my unboxing video.
Applying for JP Morgan Reserve Card
Last week, I confirmed the new 100K sign-up bonus for the JPM Reserve card and I also posted about the hoops my friend jumped through to get approved for the Chase Sapphire Reserve 100k offer. After we both were initially rejected for the Sapphire Reserve, we both applied for the JPM Reserve card by fax (details in my previous post). And no, neither of us have $10M with Chase, not $5M, not any M. Both of us have ~ 1K sitting with Chase.
Recap of the JPM Call
The JPM rep said my friend had been aggressively signing up for credit cards in the past 24 months, with 10+ new accounts in the past 12 months and asked for an explanation. My friend explained that he has several businesses and wanted to separate personal expenses from each of his business expenses.
He also had to confirm his annual gross income and monthly housing expenses (mortgage/rent). He provided his real income and didn't inflate anything. The rep pointed out Chase recently extended him a large amount of credit, could not extend any more, and would need to move some credit around to accommodate the new card. He asked for $15k to be moved from an existing Chase card to the new JPM Reserve card which resulted in an approval after a 3 minute hold.
I didn't apply for as many cards as he did. As a result, they probably didn't need to call me. I was, however, also over the 5/24 rule.
How to Check If You Are Approved
If you've recently applied for the JPM Reserve card and are still waiting for a response, it is possible JPM approved you for the card without a phone call. A Chase application status / reconsideration line exists for Chase credit cards but does not exist for the JPM Reserve card. One reader has said they are able to see JPM applications.
Check if you are approved by logging in to your Chase account and looking for a new “JP Morgan” account (below). As far as I know, this is the only way to check status. My other friend, who is a legit Chase Private Bank client, applied for the JPM Reserve hours after I did and was approved eventually.
- Approved: both me and 2 friends (1 PBC) – see comments below for further updates
Does the 5/24 Rule Apply to the JPM Reserve Card?
Based on data points so far, the 5/24 rule does not appear to apply to the JP Morgan Reserve card. Whether you are shooting for the exacta (200k from both Reserve cards) or you didn't get approved for the CSR because of 5/24, this JPM Reserve card is the real deal and attainable… at least for now.
Is a Trifecta Possible (3 Reserve Cards for 300K)?
Check out this post on FlyerTalk. Apparently user darkhound was previously a JPM Palladium cardholder, who received 100k UR pts for converting to the JPM Reserve card. At the same time, he was also approved for the Chase Sapphire Reserve 100k offer and had also submitted his application for the JPM Reserve card for another 100k. Good luck to you!
JPM 100K Application
Application Link (fax only): Application PDF
Before you decide to apply, 1) if you are below 5/24, apply for the Chase Sapphire Reserve first and 2) keep in mind our applications (my friend and mine) were submitted early, and even then, JPM was supposedly receiving over 1,000 applications per hour. Since then, the JPM Reserve card application was posted publicly and I can only imagine how many more individuals applied.
If you decide to apply now, you may not receive a response for weeks and by then JPM may be more stringent on approving the average Joe (like me). Good luck!
Also, if you are not comfortable sending your info via fax, don't! Google the number with hyphens and you'll find many references that look legit. Without the hyphens, not so much.
Update: Fax line has been disconnected. Those who successfully faxed in their application prior to 9/1/16 have a shot at getting approved. Those who faxed in 9/1/16 and after – your app is probably in the shredder. See comments below for data points.