Is Chase Private Client worth it in 2020? Chase Private Client review and alternatives. [ Blog Post ]
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0:00 Start Here
0:45 Overview of Chase Private Client
2:27 Discontinued Benefits
3:54 Investing
5:18 Banking
5:58 Private Client vs Sapphire Banking
6:40 Alternatives
8:20 Lending Benefits
11:00 Dear Chase…
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45 comments
Hey sebby love yah page. ❤ Wanted to know what app you use to keep track of what card to use where? 🤔 I remember you mentioning it but can't remember what video😔😄😄
Sebby: "I don't like having an asset that doesn't make me money or appreciate in value…"
Me: A Texan who does DoorDash on the side 😓😓😓
Sebby needs an intervention
What are your feelings on the benefits of a Schwab brokerage and checking account? Even better for overseas travelers… tome anyway.
The future of banking will be more about Data banks where the banks will have our financial transactions and web/digital transactions to tailor a better service (look what Google Card is trying to do). If you think about what are the benefits for example to access to a Lounge of Priority Pass, it doesn't make any difference to have a lower tier card and then pay the fee for getting access to Priority Pass. So I think banks will have to offer a differentiated service that 'matches' the name of the card.
What's that yellow cat thing in the background?
I had an interview with TransferWise in Tampa Florida.
They treat their employees phenomenal, so I would expect the same for customers.
You’re going to have to make a new video in a couple months here. I was a chase employee and there are some big changes happening here in SoCal
Getting the answer right away made me want to watch the rest
I was offered this service today. I thought that there was a mistake: I am not rich.
I just became a Chase private client this weekend hahaha – maybe should have watched this video first. Thanks for the informative video! Wish a perk of CPC was waived card fees – now that would be legit!
Chase Private Client is pretty much worthless, they spend more on the CPC Plaques in the Chase Bank and promotional materials and branding "Chase Private Client Advisor' than trying to provide "value" to the Customer. I have Chase Sapphire Banking and the only benefit I use is the "free" trades on Chase YouInvest which pretty much every other trading platform gives you after Robinhood turned that industry upside down. The least they could do for CPC is to give you a way around 5/24. Do not waste your time with this product unless Chase is willing to provide "real value" rather than keeping your money at 0.01% CD which is a total ripoff.
I know this channel is credit card focused. Would you consider a video on M1 Finance or WeBull for beginners???
My man put the headphones back on. You know he was playing fortnite. 😂🤣
Lol $1.8 million for a "starter" home. I have no idea why people still live in California.
Get it for the upgrade bonus and then downgrade to Sapphire.
10:30 Financial people always get this wrong. Cars are not assets, they are tools. Just like the frying pan in your kitchen is a tool that you have to serve a function you want, a car is the same. As for never wanting or getting one, you don't know what you're missing. It's like the difference between flying commercial vs flying your own private plane – one requires that you follow their schedule and routes whereas the other lets you make your own schedule and routes.
Its a little disconnected to think a signifigant amount of people in their 20s are gonna be eligible for Chase private client. Unless you own a very successful startup company or you're a trust fund baby you're probably not gonna have that much wealth built up until later in life
The theme of the video that I agree with is that most of the services with CPC can be obtained elsewhere without the $250k gate. one alternative that I don't think was mentioned was on the checking account end – Schwab offers a checking account with unlimited ATM reimbursements and no foreign transaction fees.
Its about the CPC banker you get. Its the white glove service and having someone to rely on more so than all the perks. Definitely missing that part, which is the primary part.
On the investment side, youre missing the access provided to the Chase Private Bank and insight/access provided by that.
I have Chase Sapphire checking and from my experience it's not your daily average balance it's if at any point during your monthly cycle your balance drops below the minimum you get charged the $25 monthly service fee.
Also the savings on the rates is over-stated: the big banks never have the best rates available vs warehouse lenders for mortgages or car loans. So saving 1/8 pt with 250k at Chase or 1/4 pt with 1MM at Chase isn't really saving you any $ over the more competitive other lenders.
I also considered CPC this year but decided to go for Citigold. I have Citi Prestige and Citigold is great in annual fee reduction. Plus they are going to offer $200 credit for several subscription service like hulu, amazon prime soon (some states already have it).
Pays for way more than your coffee
I had a dream last night that I received a bank deposit of a pound of boiled potatoes sprinkled with Old Bay Seasoning.
Hey Sebby – CPC here. Any chance of being able to get the JP Morgan Reserve or do you think it'll be foolish to even inquire since I'm not in their private bank. Thanks, my friend! Killer content, as usual.
Can you do Chase private client vs BOA Platinum Honors
That vanilla mini blinds is so distracting.
Strange, I have been sending free international wires with Sapphire Checking. Seattle. Maybe regional differences or they have changed it.
Definitely not worth it. You can use your money to generate far more wealth by investing it. Chase doesn’t give you anything. Unless you need to set aside 150k cash for your own emergency, otherwise I don’t see any reason to let so much cash sit idle in a bank.
"After listening to feedback to meet our clients' needs, we'll no longer offer the Chase Private Client Arts & Culture program after June 30, 2021. After that date, your Arts & Culture card will no longer be accepted at partner institutions. Your current Arts & Culture card will continue to be accepted until June 30, so you don't need to request a new card."
LOL, well shit.
The benefits I probably would never, or hardly, use. I think I've sent a bank wire once in my lifetime, so that isn't a benefit for me. I laughed, and cried, at the same time when you mentioned a $6,600 a month mortgage payment is a "starter home." I'll never be living in San Francisco, that's for sure, unless it's on the streets. Chase lowered the requirements to $150,000 for Private Client. Even though I could swing that, it's not worth it for me to tie up so much money for benefits I probably will never use. I look at "Private Client" as the poor man's "Private Bank." There are some people out there that just want to say they're a bank "private client," like they're some rich "big-shot" in Monte Carlo sailing around in their 100 foot yacht.
For this guy no it doesn’t make sense, but for the ones who just inherited large sums of money or who make large salaries who don’t have time to research the best investments this is where they’d go
Sebs lets do a refresh now that they eliminated arts and culture
Also if you are a CPC i dont think fractional shares are a concern
Chase private client requirements has now been reduced to 150k and you invest account balances still count. I was reading in certain blogs that it had to be managed investments but apparently youinvest balances still count as confirmed by bank manager in a CT branch. By the way HSBC premier has the same benefits on the banking side minus the safe deposit box and branch network for in-branch transactions for 5k direct deposit per month.
Good vid–thanks. I came to the same conclusion prior to watching, but nice to see it confirmed. Any thoughts on Chase Sapphire banking vs. Citbank's Citigold?
I’ve been a CPC member since 2018, and I met the minimum requirement of $250k, but then I’ve pulled out 220k to another account outside of chase & invested in cryptos, stocks, real estate, etc. Therefore, my CPC account maintained a monthly average between 15k to 50k, and I haven’t been booted out yet, and I am paying monthly service fees. It seems like Chase don’t seem to care as long they are getting their monthly fees.
I’d love to see chase let you cash out your point like the AMEX platinum Charles Schwab with to your JP Morgan brokerage or checking of savings that would also make there brokerage accounts a second look to why have your assets with them
Ohh, you’re still here! 😂
Joined over a year ago, haven’t felt anything good particularly. Thinking about to transfer out to another firm for brokerage account
I Have been a chase client since 1988. From coast Federal savings to Washington mutual to chase bank. Maybe martha Salinas with chase bank now in San Pedro since 1988 and most managers like Greg and Ashlee and noe and and redmond and eric alcala., duistrict manager or director knows me from head to toe. Amen.
Yes, it is worthed for me to be a chase client since 1988. Amen
I just became a private client and the debit card is blue did they change the design?
Where did you get your wallet ?
Can you verify if they changed this card to a blue one ? Thank you seby