I've just received a letter from my bank to say that they've reviewed my account and reduced my credit card limit from something like £4000 to £700.
I was in massive debt a few years ago but since meeting sensible DH have paid it all off and been debt-free for a while now. This is the only credit card we have and it has lived in the freezer (with a zero balance) for most of the past couple of years (DH hates them). I've spent a little on it over the past two months, up to £600-ish, but have paid off big chunks each month (on time, I think). A couple of days ago we paid the car insurance on it as they wouldn't take a debit card. Then today this letter.
I could understand them reducing it if I never used it but to do it when I've just started using it is a bit odd.
Don't mind as we don't use it much and I think we'd both prefer a lower limit anyway, but I'm just panicking that someone's stolen my identity and racked up massive debts or something. Financially nothing has changed for us. Am I right to worry or is this just something banks do from time to time?