No way. I think it's ludicrous to give one company the power to deny you access to all your games if you're not in good standing with them.
I heard tell of someone who went to buy some games on Steam at the weekend, but his wife queried the transaction with Paypal.
Because of this query Paypal halted the transaction and because of this, Steam suspended his account and he couldn't access any of his games on Steam, not just the new games he tried to purchase, but all his existing games (including retail games which he had the discs for but which used Steam as DRM).
Apparently it took over 2 weeks of back and forth correspondence to Steam customer support before the guy finally had his account back and was able to play his games.
Your access to the games that you own, that you've already bought and have the discs for, should never be dependant on your current credit rating, financial status, or whether you're on good terms with Valve.
As convenient as Steam is, they already have too much power over suspending your account and cutting you off from all your games, to let them extend this power over every single PC game you ever buy is just madness.