It generally depends on whether it's a game ban or an account ban at the moment. If it's just a game ban at the moment, ToS will potentially permanently ban the entire account, so OP will lose access to all other games and put them in a worse position if they request a chargeback.
The other thing to consider is that a chargeback isn't a guaranteed win. The bank will temporarily credit the funds to the account used to make the purchase, while the merchant is given the opportunity to dispute. If the merchant decides to dispute the chargeback and wins, the funds will be debited from the account again (if they've been spent or transferred in the meantime, then it can cause issues with overdrafts and bank charges etc). Some things may have changed since I worked for a bank, but I believe that's still the usual process.