Be glad that "universal default" is gone.  This clause was slipped in in the mid 2000's by most card companies.  they said if you "default" on one of your bank's cards, they can apply that default on all of the cards they've issues to you.  "Default" can mean going over the limit, a late payment, nsf on a check, you name it. 

Most card companies voluntarily removed this clause in the last year, after Congress started making some noise.  Chase is not a bad company.  The problem with them is that their front line employees are simply not empowered to "do the right thing", like cut you some slack on your first late.  Play the game.  Pay the card off, cancel it and reapply in a few months.  Forewarned is forearmed.