Edited by: Jessica Merritt
& Kellie Jez
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Two of the most exclusive cards you can have in your wallet are the J.P. Morgan Reserve Credit Card and the Centurion® Card from American Express.
The J.P. Morgan Reserve card was formerly known as the J.P. Morgan Palladium card, and the Centurion card is commonly referred to as the “Amex Black card” or “Black card.”
Both of these cards are invitation-only and very, very exclusive.
In fact, the J.P. Morgan Reserve card is only available to the most important private clients of JPMorgan Chase, while the Centurion card requires hundreds of thousands of dollars in annual spending as an existing American Express cardholder to even have a chance at qualifying.
In this guide, we’ll show you the differences between two of the most exclusive cards in the world.
Let’s get right into it!
Despite similarly exclusive qualification requirements, the Centurion card stands out as the costlier option. But it also comes with enormous perks that could pay for the annual fee many times over in the right wallet.
Here are the critical features of both cards:
|Feature||J.P. Morgan Reserve Card||Centurion Card|
|Airline Program Benefits||
|Hotel Program Benefits||
|Top Statement Credits||
|Travel Benefits and Protections||
|Shopping Benefits and Protections||
|Annual Fees||$595 ($75 for each authorized user)||$5,000 ($5,000 for each authorized user)
$10,000 initiation fee
At a high level, the J.P. Morgan Reserve card seems to be almost identical to the Chase Sapphire Reserve®, which is somewhat disappointing for a card as exclusive as this.
On the other hand, the Centurion card offers mountains of benefits beyond its closest sister card, The Platinum Card® from American Express.
It also comes with a much larger price tag than the Amex Platinum card, but if you can maximize the high-value perks, like the Equinox Destination membership, Delta SkyMiles Platinum Medallion status, and PS at LAX membership, you should easily recuperate the annual fee.
In the rest of this guide, we’ll break down the individual aspects of the cards.
Qualifying for either of these cards isn’t an easy feat by any stretch of the imagination. In fact, qualifying isn’t an exact science, either. There’s no set-in-stone formula through which you can qualify for the J.P. Morgan Reserve card or Centurion card.
What we do know about the J.P. Morgan Reserve card is that it is only available to JPMorgan Chase clients with at least $10 million in assets under management by J.P. Morgan Private Bank. Even then, an invitation is not guaranteed.
The Centurion card is also extremely prestigious and difficult to qualify for. Most experts agree that qualification for the Centurion card has multiple layers:
We mentioned that there’s no specific threshold in which you’re guaranteed an invitation to the Centurion card, but you’ll probably need to spend at least $250,000 per year on your Amex cards, have an annual income of at least $500,000, and a net worth of $5 million.
Although the Centurion card never offers a welcome bonus, the J.P. Morgan Reserve card sometimes offers a welcome bonus.
In the past, when the J.P. Morgan Reserve card replaced the J.P. Morgan Palladium card, there was an introductory bonus of 100,000 points after meeting some minimum spending requirements.
But as a rule of thumb, these invitation-only cards do not come with any welcome bonuses.
With the J.P. Morgan Reserve card, you’ll earn Chase Ultimate Rewards points, which is the proprietary rewards currency also used by the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve card (among other credit cards).
Those who have the Centurion card have the privilege of earning American Express Membership Rewards points, which are similar to Chase Ultimate Rewards points in the sense that you can use these points flexibly to book luxury award travel.
The J.P. Morgan Reserve card is identical to the Chase Sapphire Reserve card in terms of earning potential.
From the table below, you can see how the Centurion card isn’t well-suited to generate lots of points:
|Bonus Earning Category||J.P. Morgan Reserve Card (Ultimate Rewards Points)||Centurion Card (Membership Rewards Points)|
|Flights Purchased Directly From Airlines||3x points||1x points|
|Flights Purchased From the Card’s Travel Portal||5x points||1x points|
|Hotels, Dining, and Car Rentals From the Card’s Travel Portal||10x points||1x points|
|Other Travel||3x points||1x points|
|Dining||3x points||1x points|
|Additional Earnings||10x points on Lyft purchases through March 31, 2025
1x points on other purchases
|1.5x points on purchases of $5,000 or more|
Amex points are worth 2.2 cents apiece, while Chase points are worth around 2.0 cents each, according to our valuations.
Even so, the J.P. Morgan Reserve card earns points more quickly than the Centurion card on most purchases, which makes the J.P. Morgan Reserve card a more powerful rewards card.
Still, if you’re a Centurion card holder, you’re most likely holding onto the card for the benefits instead of the rewards.
Chase Ultimate Rewards points can be used incredibly flexibly; our go-to redemption pathway is to transfer points to partners such as United MileagePlus, World of Hyatt, or British Airways Executive Club to book luxury travel, either at 5-star hotels or for business or first class flights.
You can also use Chase Ultimate Rewards points with a 50% redemption bonus in 2 ways:
If you choose to take advantage of the 50% redemption bonus, you’ll get a redemption value of 1.5 cents per point.
Also, you can use Chase Ultimate Rewards points for cash-back, statement credits, gift cards, merchandise, Amazon.com purchases, and Apple purchases. These redemptions usually yield a value of 1 cent per point or less, though there are some occasions in which Apple purchases can be made for around 1.1 to 1.2 cents per point.
The story is similar with Amex Membership Rewards — we recommend transferring points to the American Express transfer partners to book luxury award travel through partners such as Hilton Honors, Delta SkyMiles, and ANA Mileage Club.
Whenever you redeem points through Amex Travel using Pay with Points on the Centurion card, you can enjoy a 20% rebate, which gets you a redemption value of 1.25 cents per point.
In addition, you can use Amex points for statement credits, charitable donations, gift cards, merchandise, Amazon.com purchases, and more. However, you won’t get as much bang for your buck through these methods.
Unfortunately, with the J.P. Morgan Reserve card, you don’t receive any airline loyalty program benefits, whether it’s elite status, complimentary upgrades, or free checked bags.
The Centurion card offers complimentary Delta SkyMiles Platinum Medallion status, which we value at more than $3,000 per year! This upper-tier status entitles you to waived baggage fees, SkyTeam Elite Plus status, unlimited complimentary upgrades, a choice benefit (which can be 4 Regional Upgrades valid on domestic or local international routes), a VIP phone line, and much more.
In addition, the Centurion card gets you a discounted Wheels Up membership, which is an on-demand private jet charter company. Through this discounted membership, you can access discounted charter flights with capped hourly rates, complimentary flight credits, and a discounted initiation fee.
The J.P. Morgan Reserve card gets you access to the Chase Luxury Hotel & Resort Collection, which consists of more than 1,000 properties around the world where you can get benefits including upgrades, early check-in, late checkout, resort credits, and daily breakfast. While this benefit is valuable, we’ve found that bookings made through the Luxury Hotel & Resort Collection sometimes deliver higher rates.
In contrast, the Centurion card offers the most comprehensive list of hotel perks from any single card.
To start off, you’ll get top-tier Hilton Honors Diamond status, which includes perks such as suite upgrades, complimentary daily breakfast, and late checkout.
You’ll also get Marriott Bonvoy Gold Elite status, which is the mid-tier offering that gets preferred room upgrades, late checkout, and bonus rewards points.
Lastly, there’s even IHG One Rewards Platinum Elite status, which is the second-highest tier. This status gets you room upgrades, late checkout, early check-in, a welcome amenity, and more.
Even beyond hotel elite status, the Centurion card offers elite-like benefits at a range of luxury properties around the world in 3 major collections:
The Centurion Hotel Collection is really a subset of Fine Hotels & Resorts, though you’ll usually get an enhanced $200 property credit as opposed to a $100 property credit.
Both Fine Hotels & Resorts and Centurion Hotel Collection stays include:
The Centurion Hotel Collection includes these brands:
Lastly, The Hotel Collection is a set of upscale or luxury hotels that comes with these perks on eligible stays of 2 nights or more:
Hot Tip: The Hotel Collection is also a benefit program offered to those who hold the American Express® Gold Card, which is one of the best cards for everyday purchases!
The J.P. Morgan Reserve card has 2 statement credits:
The $300 annual travel credit is based on your cardmember anniversary year, and it’s incredibly easy to use!
The Global Entry, TSA PreCheck, or NEXUS application fee credit is designed to reimburse you for the application fees involved in applying for these Trusted Traveler Programs.
The Centurion card comes with these nifty statement credits:
Hot Tip: If you’re looking for high-end luxury travel perks, but can’t justify or qualify for the Centurion card, consider getting the Amex Platinum card.
Now, let’s talk about each card’s travel benefits and protections! We’ve got a lot of ground to cover, so let’s start with a summary of travel-related statement credits.
The J.P. Morgan Reserve card comes with that $300 travel credit, which is super easy to use, thanks to Chase’s broad definition of travel. Also, you’ll get a $100 fee reimbursement for Global Entry/TSA PreCheck/NEXUS application costs.
As far as the Centurion card goes, you can make use of the up to $100 Global Entry/TSA PreCheck application fee credit, up to $189 CLEAR Plus credit, and up to $200 in Uber Cash.
Overall, the edge goes to the Centurion card with travel statement credits.
As you’ll see in this section, the value of airport lounge access perks on these cards depends on your geographical location and travel habits.
When you have the Centurion card, you can access all of these airport lounges that fall under the American Express Global Lounge Collection:
But perhaps the most special airport lounge-related benefit you’ll get with the Centurion card if you’re a luxury traveler is the complimentary PS at LAX membership.
This membership is valued at $4,850 and is an absolute essential if you dread crowded airports, long security queues, and crave VIP service.
Every year, you and 1 guest will be allotted a complimentary visit to a new space within PS created exclusively for Centurion members. when you book an international first or business class ticket through Centurion Membership Services.
You can also access the space any time for $550 per person using your Centurion card.
Another area where the Centurion card truly shines above its competitors is in complimentary Centurion Arrival and Departure Services, which essentially is a set of meet-and-greet perks.
In general, these services include greeting you at the gate or as you arrive at the airport, expedited security, customs and immigration, electric carts and baggage porters, and coordinating with ground transportation for an easy exit.
These services are available for up to 9 travelers (yourself and up to 8 companions).
You must book a first or business class ticket through Centurion Travel Services to use Centurion Arrival and Departure Services.
Here are the U.S. airports currently offering arrival and departure services:
Rental cars are a major piece of the travel logistics puzzle, and you’ll get substantial benefits when you have either of these cards.
Currently, the J.P. Morgan Reserve card offers privileges at Avis, National, and Audi on demand, including rate codes with discounts and upgrades. You’ll also get National Emerald Club Executive membership by virtue of the Visa Infinite card status.
The Centurion card takes rental car perks a step further. Currently, you can get complimentary status to not 1, but 2 invitation-only elite status tiers (read: higher than the highest published status): Avis President’s Club and Hertz Platinum.
One of the biggest benefits of Avis President’s Club is getting a guaranteed car at corporate locations with only 1 day of advance notice; you can also get complimentary double upgrades, discounts, and more.
And with Hertz Platinum, you can have rentals delivered to the location of your choice, a 4-hour grace period to return your car, complimentary ski racks and car seats, and so much more.
With the J.P. Morgan Reserve card, you get to enjoy primary rental car insurance.
Rental car insurance on the Centurion card is secondary, though you can purchase a primary rental car insurance policy through Amex for $24.95 or less per rental.
The J.P. Morgan Reserve card boasts premium roadside assistance, which includes up to 4 complimentary service calls per year with a maximum benefit of $50 per call.
These benefits include:
The Centurion card does not offer premium roadside assistance.
At a high level, the travel insurance and protection benefits on the J.P. Morgan Reserve card more or less mirror exactly what is offered on the Chase Sapphire Reserve card.
To start, there’s trip cancellation and interruption insurance, which covers up to $10,000 per trip and up to $20,000 per consecutive 12-month period.
The Centurion card offers the same coverage as the J.P. Morgan Reserve card — up to $10,000 per trip and up to $20,000 per consecutive 12-month period.
The J.P. Morgan Reserve card boasts trip delay insurance whereby you can get reimbursed up to $500 per ticket for delays lasting more than 6 hours.
With the Centurion card, you can get the same coverage for up to 2 claims every 12 consecutive month period.
When you hold the J.P. Morgan Reserve card, you’ll have access to a complete baggage coverage plan that includes lost, stolen, damaged, or delayed baggage.
With lost, stolen, or damaged baggage, you’re eligible for up to $3,000 in reimbursement per person per trip. With delayed baggage, you can get up to $100 per day for up to 5 days on baggage delays of more than 6 hours.
The Centurion card doesn’t offer delayed baggage coverage, but it does offer lost baggage insurance, which covers you for up to $3,000 per person per trip and a further sub-cap of $1,000 per person for all high-risk items.
The J.P. Morgan Reserve card comes with $100,000 in travel accident insurance, whereas the Centurion card does not come with any travel accident insurance.
If you run into any unexpected issues while traveling that require immediate or urgent resolution, you, your spouse, and your dependent children under 22 years old have 24/7/365 access to these benefits via the J.P. Morgan Reserve card:
The Centurion card offers these same benefits through their Premium Global Assist Hotline — in addition, you can get emergency medical transportation and evacuation, as well as repatriation of mortal remains through Premium Global Assist.
The J.P. Morgan Reserve card also comes with up to $100,000 in emergency evacuation and transportation benefits, which applies if your trip is between 5 and 60 days and more than 100 miles away from your primary residence.
So if you need to be treated at a local hospital or are required to be transported during an emergency evacuation, you can use this benefit to your advantage.
The Centurion card’s Premium Global Assist hotline offers similar coverage.
With the J.P. Morgan Reserve card, you can receive up to $2,500 with a $50 deductible in reimbursement for medical expenses not paid or payable by your medical insurance as a result of emergency treatment or accidental injury occurring during the course of your trip.
The Centurion card does not offer this benefit.
One of the cornerstone benefits of the Centurion card is the ability to have a personal concierge who is assigned to you through Centurion Membership Services.
Your concierge can help you make hard-to-get reservations at the world’s best restaurants, get your hands on sold-out event tickets, or help you plan activities and excursions while traveling.
The J.P. Morgan Reserve card offers access to a Visa Infinite Concierge, but we haven’t found this benefit to be particularly useful.
Naturally, the J.P. Morgan Reserve card and Centurion card both offer beneficial features for shopping (beyond travel and rewards).
One of the most valuable benefits of the Centurion card is the complimentary Equinox Destination Access Membership.
Equinox is one of the most exclusive gyms out there, easily costing $300 per month. This celebrity-favorite chain of gyms can be accessed for free when you have the Centurion card, and the membership also includes Equinox+.
You’ll also get a $300 SoulCycle statement credit every time you use your card to buy a SoulCycle at-home bike (up to 15 bikes every year).
By contrast, the J.P. Morgan Reserve card does not offer any gym memberships or perks.
While both are great programs, we give the edge to Amex Offers due to its attractive deals such as:
Here are some examples of Chase Offers:
As you can see, Chase Offers are usually capped at a very small amount, which diminishes the value they can truly offer.
Currently, the Centurion card offers cell phone protection, which reimburses you up to $800 per claim with a $50 deductible per claim and up to 2 claims per consecutive 12-month period.
The J.P. Morgan Reserve card doesn’t offer any cell phone insurance.
Purchase protection on the J.P. Morgan Reserve card covers you for up to 120 days after your purchase with a maximum of $10,000 per item and $50,000 per calendar year.
The Centurion card covers items up to 90 days after the date of purchase with a maximum of $10,000 per item and $50,000 per calendar year.
Extended warranty is a fairly standard benefit offered on most credit cards, and the protection offered by the Centurion card is truly one-of-a-kind.
The J.P. Morgan Reserve card offers 1 additional year on eligible warranties of 3 years or less with a claim maximum of $10,000 per item and $50,000 per calendar year.
The Centurion card also covers you for up to $10,000 per item and $50,000 per calendar year — the difference is that you can get up to 3 extra years on top of any eligible warranties of 5 years or less!
If you’ve ever attempted to return an item you bought and the store didn’t accept your return, you might feel helpless. But return protection can help you get reimbursed when your return is not accepted by the original merchant.
On the J.P. Morgan Reserve card, you can get reimbursed up to 90 days after the purchase date for up to $500 per item and $1,000 per calendar year.
The Centurion card offers up to $300 per item and $1,000 per calendar year on items that were attempted to be returned within 90 days after the original purchase date.
If your card is ever compromised and used for fraudulent purposes or unauthorized transactions, you’ll have peace of mind with zero liability protection.
Both the Centurion card and J.P. Morgan Reserve card offer this benefit.
Both the Centurion card and J.P. Morgan Reserve card have no foreign transaction fees.
Although the minimum credit limit for the J.P. Morgan Reserve card is $10,000 by virtue of its Visa Infinite status, we’ve seen credit limits as high as $200,000 with this card.
The Centurion card has no preset spending limit and could theoretically be used to make millions of dollars in purchases if Amex believes you can pay your bills completely.
The J.P. Morgan Reserve card has a $595 annual fee.
The Centurion card has a $10,000 initiation fee (one-time) and a $5,000 annual fee (recurring every cardmember anniversary year).
Adding an authorized user to the J.P. Morgan Reserve card costs $75 per person, while adding an authorized user to the Centurion card costs $5,000 per person.
Despite both cards being extremely exclusive, the J.P. Morgan Reserve card and Centurion card are worlds apart in terms of the depth and breadth of benefits.
The J.P. Morgan Reserve card appears to be almost identical to the Chase Sapphire Reserve card with complimentary United Club membership, whereas the Centurion card is a totally different animal compared to the Amex Platinum card.
The Centurion card has a comprehensive list of benefits that can each be worth thousands of dollars to the right cardholders.
Some of these benefits include the complimentary Equinox Destination Access membership, PS at LAX membership, Delta SkyMiles Platinum Medallion status, Hilton Honors Diamond status, $1,000 in Saks credits, and Centurion Arrival and Departure services.
Simply put, the Centurion card offers much better perks than the J.P. Morgan Reserve card, but it also comes with an eye-watering price tag.
For the baggage insurance plan benefit of the Centurion® Card from American Express, baggage insurance plan coverage can be in effect for covered persons for eligible lost, damaged, or stolen baggage during their travel on a common carrier vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one-way or round-trip) is charged to an eligible card. Coverage can be provided for up to $2,000 for checked baggage and up to a combined maximum of $3,000 for checked and carry-on baggage, in excess of coverage provided by the common carrier. The coverage is also subject to a $3,000 aggregate limit per covered trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each covered person with a $10,000 aggregate maximum for all covered persons per covered trip. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
For the car rental loss and damage insurance benefit of the Centurion® Card from American Express, car rental loss and damage insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the commercial car rental company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. geographic restrictions apply. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
For the cell phone protection benefit of the Centurion® Card from American Express, coverage for a stolen or damaged eligible cellular wireless telephone is subject to the terms, conditions, exclusions and limits of liability of this benefit. The maximum liability is $800, per claim, per eligible card account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per eligible card account per 12 month period. Eligibility and benefit level varies by Card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
For the extended warranty benefit of the Centurion® Card from American Express, when an American Express® card member charges a covered purchase to an eligible card, extended warranty can provide up to one extra year added to the original manufacturer’s warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your card for the item up to a maximum of $10,000; not to exceed $50,000 per card member account per calendar year. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
For the purchase protection benefit of the Centurion® Card from American Express, purchase protection is an embedded benefit of your card membership and requires no enrollment. It can help protect covered purchases made on your eligible card when they’re accidentally damaged, stolen, or lost, for up to 90 days from the covered purchase date. The coverage is limited up to $10,000 per occurrence, up to $50,000 per card member account per calendar year. Coverage limits apply. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
For the return protection benefit of the Centurion® Card from American Express, with return protection, you may return eligible purchases to American Express if the seller won’t take them back up to 90 days from the date of purchase. American Express may refund the full purchase price excluding shipping and handling, up to $300 per item, up to a maximum of $1,000 per calendar year per Card account, if you purchased it entirely with your eligible American Express® Card. Purchases must be made in the U.S. or its territories. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details.
For the trip cancellation and interruption insurance benefit of the Centurion® Card from American Express, the maximum benefit amount for trip cancellation and interruption insurance is $10,000 per covered trip and $20,000 per eligible card per 12 consecutive month period. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
For the trip delay insurance benefit of the Centurion® Card from American Express, up to $500 per covered trip that is delayed for more than 6 hours; and 2 claims per eligible card per 12 consecutive month period. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
The information regarding the J.P. Morgan Reserve Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Centurion® Card from American Express was independently collected by Upgraded Points and was not provided nor reviewed by the issuer.
For most people, going through the trouble of qualifying for the J.P. Morgan Reserve card is probably not worth it.
If you already have more than $10 million in invested assets with J.P. Morgan Private Bank and are invited, there’s minimal downside in getting this card.
However, the benefits on this card are nowhere near as comprehensive as the benefits on the Centurion card.
The J.P. Morgan Reserve card has a credit limit. It is not a charge card. However, the credit limit is known to be higher than $100,000 for many cardholders.
The hardest “black card” to get is most likely the Centurion card. There are no specific criteria to qualify, but you must spend at least $250,000 per year on your Amex cards, have a high net worth, and an annual income of at least $500,000.
Most people agree that the best card for billionaires is the Centurion card.
Rumor has it that there are only 5,000 J.P. Morgan Reserve cardholders worldwide, but this number has likely grown in the past few years.
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