Like the average American, I am in the process of paying down some credit card debt. I have one card with a revolving balance equal to about 35% of the total card limit.
A few weeks back I had to make a semi-large purchase that would be reimbursed later, so I figured I'd just use my credit card. The purchase was much less than my 65% available credit, but during the transaction my card was declined. Fortunately, I had another form payment.
When I got home, I looked up my credit card status online, and found that my credit card company had lowered my card limit by almost 50%. Now, instead of my revolving balance occupying only 35%, it's practically maxed out. I felt somewhat cheated, since I'm a good customer and make my payments on time.
Normally I would call the credit card company and make a fuss, but I am planning to pay off the card in full this month with my tax return.
About a week later, I got a letter from the credit card company stating they were going to lower my limit. The letter didn't really have clear explanation of why. I can only assume that it's repercussions from the economy.
Keep an eye on your credit card company, they can be a sneaky bunch of buggers.