The Most Exclusive Credit Card – Amex Centurion Card vs J.P. Morgan Reserve Card

by Daniel | Last Updated July 10th, 2022

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Have you ever wondered what the most exclusive credit card is? how much it costs on an annual basis and what benefits and perks it offers?

Well in this article I’ll try and answer all of those questions by doing a full review and comparison of the American Express Centurion Card and the J.P. Morgan Reserve card.
Basically, I’ll go over all of the requirements needed to be considered for one of these cards, and then I’ll go into more detail about the perks, benefits, and insurance-related coverage that each card offers.

https://www.youtube.com/watch?v=g22QotwrC3s

Who Are These Cards Designed For?

Now if you’re reading this article and are somewhat interested in credit cards, then there is a good chance that you have heard some information about both of these cards.

And you might be asking yourself, what’s the deal with these credit cards and who are these cards actually targeted towards?
Well, the first thing to know is that they are both invite-only credit cards, which means that you will need to meet certain criteria for each card before you will even be considered for one.
And at least with the Amex Centurion card, it is possible to apply to be considered here:

 but as it says in small print below the application:

“Submission of your information is not an application for credit and does not obligate American Express to invite you to apply for the Centurion Card.”

So, if you do decide to apply, hopefully, you meet the spending requirements which are rumored to be around $350,000 each year.

With the J.P Morgan Reserve card, I’ve read that it is not possible to apply, (Although YouTuber and cardholder Simon Katz said in one of his reviews that you can actually apply for the card if you are a Chase Private Client, apparently you just need to talk to a private banker that works with Chase Private Client services.

Now, most reviews of this card say that you may be offered access to a card if you have at least $10 Million in liquid cash or managed assets with Chase Bank, so this could be a combination of managed assets and mortgages. 
This makes it a pretty exclusive card seeing that you need at least eight figures in managed funds with Chase just to be considered.

So as you can, both cards are focused towards high net worth individuals that generally spend quite a lot on their credit cards each year.
Now although it seems that the J.P Morgan card would be harder to acquire than the Amex Centurion just based on needing at least $10 million in managed assets, apparently it is actually harder to be approved for the Amex Centurion card, it also costs substantially more on an annual basis as you will see in the next section of this review.

Initiation Fee and Annual Fee 

So both of these cards have pretty high annual fees, but the Amex Centurion card costs substantially more on an annual basis than the J.P. Morgan Reserve card.
It also has an insanely expensive Initiation fee as you will see.

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And if that’s not enough, new cardholders will also have to pay an initiation fee of $10,000.
So before you can even start using the card it will cost you $15,000, that’s the equivalent of just over $288 each and every week for the first year of card ownership, which I think is pretty expensive.

Also, if you want an additional card for a family member most reviews that I have read of the Amex Centurion card say that it will cost $5,000 for an additional card, but according to the American Express website that I found here says the first card will be free, but if you want another one it will cost $1,500.  
Amex also writes that additional Platinum cards are free.

Sign-up Bonus 

Now interestingly enough when it comes to the sign-up bonus, the Centurion card doesn’t seem to have one, but as far as I know, the J.P. Morgan Reserve card does.

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Earning Points

Now when it comes to earning points both of these cards offer a few different ways to earn points, but the J.P. Morgan Reserve card has a much higher points-earning potential than the Amex Centurion card does.

Then from here, flights that are booked through Chase Ultimate Rewards will receive 5x points.
And if you book any travel that is NOT through Chase Ultimate Rewards, it is possible to earn 3x points.
Then for dining out at restaurants it is possible to earn 3x points, again if it is not booked through Chase Dining.
Finally, everything else will earn 1 point per dollar spent. 

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So earning points with the J.P. Morgan Reserve card looks to be quite a lot easier than with the Amex Centurion card.

Redeeming Points and Points Value

Now when it comes to actually redeeming points there are quite a few options with each card.
Also, there is a fair difference in the value of each point between the two cards.

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Also, by transferring your Amex points to one of the 17 different Frequent Traveler Program Partners or 3 different hotel partners, points will be worth 1 cent per point.

Now just a side note, with the Business Centurion card it is possible to actually receive 50% of your Membership Reward points back if you use them through either Centurion Travel Services or American Express Travel.
And the points can be used for either a partial flight or the entire flight fair.

Benefits and User Perks 

Now for the interesting part of this review, what benefits and user perks actually come with these cards.

Now similar to this is a complimentary Priority Pass Select Membership worth $429, which provides access to well over 1,000 airport lounges from around the world. 

There is then a $300 annual travel statement credit.
And a $100 credit for use on either Global Entry, TSA Pre Check, or NEXUS
There is access to The Luxury Hotel & Resort Collection that provides a credit of up to $100 and Daily Breakfast for Two.
The card also provides a Free DashPass through Dec 31, 2024, which includes a $5 DoorDash credit each month that can roll over to a maximum of $15.

It also includes $0 delivery fees on orders that are over $12 and 5% back in DoorDash credits on eligible pickup orders.
And finally, there is the ability to do a 1:1 Point Transfer to a large range of different airline and hotel loyalty programs. 

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Then from here each quarter you will receive a $250 credit that can be used at Saks Fifth Ave, for a total of $1,000 each calendar year.
Again a nice benefit to have if you actually shop at Saks Fifth Ave, and if you do, this brings the annual feed down to $400 assuming you can take advantage of the Equinox Membership.

A really nice benefit that comes with this card and the Platinum Amex Card which I currently have, is access to The Global Lounge Collection which includes airport lounges such as the Centurion Lounge, Delta Sky Club, Plaza Premium, Lufthansa First Class, Business, and Senator Lounges and Escape lounges.

Now similar to this, there is the ability to apply for a complimentary Priority Pass Select Membership which is valued at $429 each year.
And this basically provides you access to even more lounges all over the world, which is a nice option to have.

If you like holidaying on cruise ships, there is the Cruise Privileges Program which provides up to $300 in credit per stateroom booking of 5 nights or more, and this is available on 18 different cruise lines and can be booked through American Express Travel.

For help getting through airport security, there is a $189 credit that can be used for a CLEAR membership, then there is a $100 credit that can go towards either TSA PreCheck or Global Entry.

There is a $200 credit for use on either Uber Rides or Uber Eats, and this provides a credit of $15 each month, and then an additional $20 credit in December.

Then from here, there is an extensive list of different hotel, Airline, and Car rental partnerships that will provide you with the following status levels:

• IHG Platinum Elite Status
• Marriott Bonvoy Gold Elite Status
• Centurion Hotel Program
• Hilton Honors Diamond Elite Status
• Relais & Chateaux 5C Status
• Hertz Gold Plus Rewards Presidents Circle
• Sixt Advantage Circle Diamond 

And finally, Delta SkyMiles Medallion Status, which can provide you with unlimited complimentary upgrades.

And when making a booking at a hotel through either the Fine Hotels + Resorts or The Hotel Collection it is possible to receive a $200 credit.

Now finally, there is Centurion Concierge which is most probably one of the best and highest levels of service that you will get with any Credit card.
With this, you will receive a dedicated concierge to help with all of your needs.

Insurance Related Benefits 

So for the last part of the review, I’ll go over all of the insurance coverage that each card offers, and to be honest they both offer quite a lot.

And to go along with this there is Roadside Assistance that covers up to $50 for each service event and is eligible to cover things such as:

• Towing
• Tire change
• Jumpstart
• Lockout service
• Fuel delivery
• Standard winching

There is Baggage Delay Insurance of up to $100 per day for up to 5 days if your luggage is delayed for more than 6 hours. 

Then with Emergency Evacuation and Transportation insurance, there is coverage of up to $100,000 if you, your spouse, or children under the age of 19, or 26 if enrolled as a full-time student, are injured or become ill whilst traveling and require emergency evacuation.
This benefit also provides the ability to bring a relative or friend to your bedside if you are hospitalized for more than 8 days.
Basically, the benefit Administrator will arrange for a complimentary economy-class return ticket.

There is Emergency Medical and Dental coverage that provides up to  $2,500 if you become sick or are accidentally injured whilst traveling on a covered trip, and if a claim is made there will be a $50 deductible fee.

Then if you are actually hospitalized as a result of the sickness or injury and your Physician recommends that you should recover in a hotel immediately following your release from the hospital, it is possible to receive an additional benefit of $75 per day for up to 5 days to help cover the cost of a hotel room.

With Extended Warranty Protection there is one extra year of coverage on warranties that are 3 years or less, with a maximum of $10,000 per claim and a total of $50,000 per account. 

Then when you are traveling there is Lost Luggage Reimbursement that covers up to $3,000 per covered person for checked and carry-on baggage. 

There is then Purchase Protection which provides 120 days of coverage against theft or damage on new purchases and this covers up to $10,000 per claim and $50,000 per year.   

Then with Return Protection, there is 90 days of coverage for new purchases that a seller won’t take back and covers up to $500 per item and $1,000 per account. 

In the unlikely event of a major accident whilst traveling there is Travel Accident Insurance which covers up to $1 million for accidents that include loss of Life, Limb, Sight, Speech, or Hearing.

There is Trip Cancellation/Interruption Insurance that covers up to $10,000 per covered person and $20,000 per trip, and both claims have a maximum of $40,000 in coverage per 12-month period.
Interruption insurance also includes up to $250 for transportation to any necessary medical treatment, to an airport or travel station.

Then finally, with Trip Delay Reimbursement it is possible to receive up to $500 for each ticket if there is a delay of more than 6 hours, or you require an overnight stay. 

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Then with Trip Cancellation, there is coverage of up to $10,000 per trip and $50,000 per card per 12-month period.

Similar to this is Trip Delay Insurance which provides up to $500 per trip if it is delayed by more than 6 hours.
And with this, it is possible to make a maximum of 2 claims in a 12-month period.

With Travel Inconvenience coverage it is possible to receive up to $250 per covered person for any missed departures, connections, delays, canceled flights, or overbooked flights.

There is a Baggage Insurance Plan that covers checked baggage for up to $2,000 per person and Carry-on bags for up to $3,000 per person.

And similar to this is Baggage Assistance which can cover up to $1,200 per trip if your luggage is lost by a commercial carrier and Centurion Travel Assistance cannot recover your luggage.

Similar to the J.P. Morgan Reserve card, there is Travel Medical Assistance that provides up to $100,000 for medical services in the event of an emergency.
Then there is Travel Accident Insurance that covers up to $1 million in case of accidental death or dismemberment whilst traveling on a common carrier.

With Cell Phone Protection there is coverage of up to $800 with the ability to make 2 claims in a 12-month period, and each claim will incur a $50 fee.

Then in terms of shopping-related coverage, there is Purchases Protection which provides 90 days of coverage and covers up to $10,000 per occurrence and $50,000 per card member per year.

Then similar to this is Return Protection which also provides 90 days of coverage for items that a merchant won’t take back, and covers up to $300 per item and a total of $1,000 per year.

Finally, there is Extended Warranty Protection that provides 3 years of additional coverage on US warranties that are 5 years or less.
And this covers up to $10,000 per covered purchase and a total of $50,000 per card per year.

Final Thoughts 

So now that I’ve covered pretty much everything there is to know about these two cards, which card would I choose and why?

Now as you might have noticed, both of these cards have some similarities to both the Chase Sapphire Reserve Card and the Amex Platinum Card, which I already have and really like.
I must say that the J.P. Morgan Reserve card doesn’t seem to offer that much more than the Sapphire Reserve card, other than the fact that it looks more exclusive.

And for that reason, I would have to choose the Amex Centurion Card.
It has more exclusive benefits that are worth a lot more than what the J.P. Morgan Card offers.
If you make use of most of the offers it quite easily covers the cost of the $5,000 annual fee.
And you also get Delta SkyMiles Platinum Medallion Status, which is really quite a valuable benefit to have seeing that it is possible to receive unlimited complimentary upgrades.

Now if you’re interested in learning more about 3 of the best credit cards that are available right now, check out this review here where I review and compare the Capital One Venture X card, the Chase Sapphire Reserve card, and the Amex Platinum Card.