Originally Posted by radonc1

In general, yes. Especially if you were caught actually gaming the system.

If you have any other accounts with them, especially if there are bonuses in them, I suggest moving them now. (However, Chase is known to give miscreants 90 days to move).

Also, recognize that Chase usually has a scorched earth policy and will bar you from any Chase related banking activity in the future, so keep that in mind when pursuing other financial adventures.