Who is at risk?

• Any one with a credit card is at risk of their credit limit lowered even if you have a solid credit history with on-time payments.
  
  

When is it lowered?

• Credit card limits are being lowered at times before consumers know about it. Most often notification is made by mail and customers are receiving the information after their credit lines have been lowered.
  
  

Increased Risk of Lending

• Banks are worried that customers will not pay their debts and they are facing more bankruptcies than ever. They are preventing people from borrowing so they do not lose money.
  
  

Consumer Woes

• Consumers with lower credit lines have less to spend, which affects the economy overall. Consumers may also suffer lower credit scores as a result of decreased credit limits because their debt to available credit ratio is lowered.
  
  

What to Do

• Look for a different credit card if you need more credit and your credit card lowers your credit limit. You may also speak to your credit card company and ask for reconsideration of the lower credit limit.
  
  

Tips

• Now is a good time to get rid of debt. You can take advantage of a lower credit line to reduce your debt and how much you borrow.