Originally Posted by TheChallenge

As others have said, I'd recommend the small claims court option if you get nowhere with Chase. It'll be the only way they will surely listen and you'll receive what you are owed (Likely they'll call to settle).

Your shut down sounds similar to mine a few weeks back, personal checking and business cards shut down while I had a semi high balance of UR points. I'd say somehow Chase didn't like what or how much you were charging on the Sapphire if you really were charging that little to the Ink.

Sometimes I feel like Chase specifically targets those with large point balances to get rid of the liability off their books. Even assuming a high 2% merchant fee, a consumer would have to charge an additional $300,000 in charges to equal the gain Chase made my confiscating over 300k UR points. My math could be wrong since it's 3am, but $300,000*.02(Merchant Fee)-$300,000*.01(CB Value)=$3000.

I really could see Chase deciding it's pointless to wait for a customer who never has interest charges to push $300,000 through their cards when they simply can remove a $3000 liability from their books to the same effect by severing the relationship with the customer.