A few days ago both of my credit cards from Chase stopped working. I received no sort of notification from the company that any action was being taken. Both accounts are in good standing, far below the credit limit and without missed payments. One I've had for a couple years and one is new (so new that the first statement just arrived and the first payment isn't due yet.)
When I finally got through to customer support, they fed me a line about how my account was under a "periodic review" done on a "random" basis "for the credit bureaus", and the hold would be lifted in a few days. This didn't sound entirely credible to me, because of the agent's evasive tone during the conversation, because I received no communication about what was happening, and because I've never heard of such a thing before. Having a real conversation with customer support has been difficult because of reduced hours due to the pandemic.
My question is, what's really going on here and how concerned should I be?
UPDATE: One week later, both cards work again. I have still received no communication from Chase about what was happening. My guess is that their automated system flagged me as potentially abusing rewards as discussed in Ben Voigt's answer, and that upon human review they realized I hadn't been, so they didn't eventually cancel the card, and that this process lasted long enough to notice because of Coronavirus-related closures.