My credit card limit got cut from $8k to $5k last month with no warning. My credit score is still around 750 and I've never missed a payment. The bank just sent a letter saying they reviewed my account but didn't explain why. Is this something banks are doing more often lately, and should I call them to ask what happened?
Banks do pull back credit limits fairly often, especially when they run portfolio reviews or notice changes in spending patterns, income signals, or overall economic conditions - it's not necessarily about your payment history. A 750 credit score is solid, so it's likely not a credit risk issue on their end. Calling them is definitely worth doing; they should be able to explain the specific reason (maybe reduced income signals from their data, lower account activity, or just a blanket portfolio adjustment), and if you think it's unfair, you can sometimes negotiate to get it restored.
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