Yep, seems pretty common, I've seen that a lot.

Watch your credit score... you dont want the limit getting so low that its lower then your balance or equal to your balance. Thats bad for your credit rating and score.

Good credit = Keeping your limit about twice as high as what your charge and pay off monthly.

The lowering of the credits limits has been going on in the United States for some time and they are starting to do this in Canada. They waited for you to lower your limit before they notified you just in case you would get offended and decided not to pay them.

Hi Thumper

Maybe this link will shed some light on your situation? Good luck:

http://www.creditcards.com/credit-card-news/what-to-do-if-credit-limit-cut-1270.php

Can anyone make sense of this?

I am a heavy user of my PC Financial credit card and I have been carrying around a significant $20K debt for the past 8 months while starting up a business. I have finally been able to completely pay it off with some substantial payments in the last 4 months... and I get this notice, " Due to your recent account history, your credit limit has been lowered to $6000." This is from the $20K limit it had. (ie. by paying it off they are now substantially lowering the limit).

Makes no sense to me. If it makes some sense to you, please feel free to respond.

Thanks