Hi @DrRicka,
While I don't see it spelled out well in the guides right now, it does appear that 100 is the highest value for a points-based grading scheme. I suspect it has to do with number rounding/precision, but don't know that for a fact. From my understanding and testing, the points-based schemes do basically translate back to percentages behind the scenes, and I think they were indented to make it easier for teachers using low-point assignments to create a grade scale based on those points. Canvas pretty much always trats the final grade as a percentage and not raw points, so you could enter your grade scheme in terms of percentages instead of points. If you need help with that translation, someone in the community here could probably help if you post your intended grade scale.
Hope this helps!
-Chris