Reply #30: J.P. Morgan presents The Palladium Card

[Ian David]

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The card itself is made of a mix of palladium—a rare, silvery-white, and very shiny metal—and 23 karat gold. At current prices, the card, if melted, would fetch about $1,000 for its metal alone. The card’s annual fee is only (only?) about half that, at $595. And that comes with free laser engraving—the cardholder’s name is etched into the metallic card by the bank.

The benefits?

To start with, cardholders are given access to Marquis Jets, a private jet company which sells access to a fleet of roughly 800 private planes in increments of 25 hours. Palladium Card members receive one free hour—value starting at just over $5,000—per 25 purchased. And if you happen to be flying commercial, the card has you covered there, as well: access to private lounges in 600 airports worldwide; a free upgrade to first class when flying British Airways to London; and, if you’re flying British Airways in business class elsewhere, well, how’s a free ticket for a companion sound? Consider it done.

Other benefits: Need to be evacuated from an emergency situation? They’ll pay for it, up to $100,000. If the airline loses your bag? J.P. Morgan will give you up to $500 to replace “essentials.” And, heaven forbid, if you die while traveling, they’ll pay up to a grand to bring your body back home. (The full list of benefits is available here.) Oh, and of course, the card has no pre-set spending limit.

All of this for $595? If you think that there has to be a catch, you are correct. Membership is limited to customers of a select group of J.P. Morgan private bank offerings. The average customer of one of these has over $30 million invested with the bank.



More:
http://www.mentalfloss.com/blogs/archives/99904