KP Pham

Hi everyone
I'm quite new to the credit score build-up journey. Right now I have BOA Cash rewards with 7k limit (opened in Oct, 2015) and Discover It with 4.7k limit (opened in Jul 2016). Both of the limit were actually increased after several request. My credit score at the new year of 2017 was 724. It's unfortunate that I have a short history. In Oct 2016, I tried to apply for the Citi Double Cash card and got rejected. Please understand that I don't actually need to borrow money. I just want to spend money to get rewards and build the score. I tend to pay back immediately and my utilization ratio is always lower than 5%.

And with the new year spirit, I did a stupid action. I applied for Chase Sapphire Reserve. Somehow they approved me immediately with 17k limit. Then I thought maybe luck came to me, I became greedy. see how greed can kill us. Smiley Sad the day after that, i apply for citi double cash again and got rejected. But I didn't stop there. With the new spirit of getting accepted for Chase, and because I do have quite a lot of money to spend in January, I decided to apply for Chase Marriott Premier Card. I got accepted for 7k limit. I then used the card immediately, maxed out the card two times. And because I do want to spend more and with a time limit, I then stupidly asked for credit line increase with this card. The reason I spent a lot with Chase Marriott is because I want to get the points bonus from them (the 150k bonus for 30k spending first year). So far, it's good. I got my goal. I got 100k points bonus from the Chase Reserve and around 120k points in my Marriott. Again, I'm willing to pay the annual fee and I just want to spend money in a beneficial way with rewards and build the score for the future.

Then it came last Friday. Chase closed all accounts without notice. I were shocked. Called them and ask for reconsideration. They ignored and denied. But thanks god I still can redeem my points. So I'm not sure it's good news or bad news. Good news I get free points. Bad news I lost a relationship with Chase. But seriously. Chase claimed I inquired a lot and had a short credit history. They claimed I posed a credit risk. I honestly don't understand. But I guess because I pay off immediately, they can't get interest from me. But then I also spend a lot, which brings a lot of profit for them. I spent almost 30k in 4 weeks.To be honest, I don't get it why this happened to me.

But anw, the past is the past. My question is will I be able to apply for Chase Unlimited Freedom around August or September of 2017 (which means 6-7 months from now)? Or should I wait for 24 months to apply for a Chase card? Or should I give up on Chase forever? Will their closing my two cards be the final verdict that will become the stain of my life? And yes, the reason I still want to reapply with Chase is because I want to diversify the portfolio of credit cards and yes, their points program is among the best one. I still want to own a Chase card. Smiley Sad

Hope that you guys can give me advice. And sorry for my long stupid story. Just want to make clear my situation.