Mad as a hatter,
Did Chase report your delinquency to the credit bureaus? (If you haven't pulled your credit report lately, you should). One payment less than 30 days late won't hurt your credit score too terribly much. Unfortunately, however, credit card companies use one missed payment as an excuse to start jerking you around, such as lowering limits or canceling the account altogether. Unfortunately, if you don't pay off your debt with Chase, debt collectors will start to come after you. The debt will continue to affect your credit score, making it increasingly hard for you to qualify for new loans for yourself or your business in the future. Paying off the debt will help your overall credit utilization, which will in turn help your score.