Since the launch of our exclusive members area, we’ve verified over 10% of all active Palladium Card holders. In July, we issued a formal letter on behalf of all our verified Palladium Card members to Ms. Eileen Serra, CEO of Chase JPM Card services, President, Affluent, High Net Worth Business outlining our request for enhancements to the card and provided our suggestions. We were optimistic that upper level management would respond positively. Unfortunately, this has not been the case and when reaching out to JPM/Chase support directly on September 8th, 2015, they issued the following response:
There are no updates on future enhancements coming to the Chase Palladium cards. However, we will keep you updated if any information comes about for this card. ^KB
This formal response issued by JPM Chase is a huge disappointment and clearly demonstrates a lack of responsiveness from upper level management towards their most affluent clientele base.
With an estimated combined annual spending exceeding $100 million among our verified Palladium card holders, a lack of enhancements to the Palladium Card’s benefits portfolio from now until the end of the year will likely result in significant decreased revenue for JPM/Chase as verified Palladium members abandon their Palladium Cards and divert their spending onto other premium credit cards that offer more responsiveness and higher returns.