Spoke with executive offices today. Not offered any explanation. Was told this was not for perk abuse, but rather for unexpected spending. Reading between the lines it sounds like it was because I had several accounts, with very little spending on them. They will not return my annual fees even though I only have 4-6 months of use of the cards. They said they are entitled to keep them. They are not returning my points.
I have am considering legal action against Chase here. If anyone else has filed suits against Chase, please PM me as I would love to know what has happened.
My advice to all- Do NOT let UR points accumulate in your account. Find a travel partner and transfer them immediately or you could be next.