credit cards, my protection,rights vs bank

[bellastella]

What is the name of your state (only U.S. law)? NC
I've searched hours with no clear answer. Got letter stating my cc limit lowered...3 very vague reasons could not understand. Leetter said bank choice made in part or whole based on report from Experian. Long short:
1. Not 1 late payment report or negative point on my report.
2. Experian shows last time this bank looked at my report was in 2006.
3. Had this card over 2 years, not late, 14000 limit...avg balance 1000-2
due to business ran to 12000 , but paid down to 6400 over Jan, Feb, Mar.
4. By phone...first told I had other non credit card debt...not true.. Then told lowered because I had never asked for more larger credit line since got card!? Really...I get penalized for not asking to go more into debt?
5.Then told change was NOT based on report from Experian...as letter stated, so they send me a letter blaming my financial activity for change based on this report that was not used?
6.I asked for letter stating what the change was based on...what reasons...refused?
7. 14000 with 6400 balance looks good...7300 limit with 6400 balance looks like I ride my card at max and was told since now my balance so high compared to limit, my APR is going to be higher??? Seriously...my balance was not high to limit before they lowered it so it is not an action I did to myself...running up my card!

Bad economy...yeah, so take it from 14 to 10000....not cut in half and I sure should not be penalized financially or credit wise. Do I have any rights or recourse? Mostly I am pissed that they sent a letter with false reasons, claiming based on a credit report they did not request, review or look at and refuse to tell me what information they did use to make change.

Do I just have to take this treatment? I feel like its damaging to the credit history I have strived to build and that is something that will last and affect my life greatly for some time. I only have 2 credit cards so this change does make a big impact on the way my finances look to any inquiries, a negative impact that I do not deserve.
I kmow you cant fight the banks, but is there any recourse? Have already filed complaint with FTC and CPA.
Thanks

[ShyCat]

You have no legal recourse. All credit cards reserve the right to make changes at their discretion. Many credit cards are cutting credit limits to reduce their exposure. I believe they have to keep a certain percentage of total credit limits in cash. Lowering credit limits allows them to meet that requirement without liquidating other assets. It also reduces their potential exposure for costly defaults which are expected to rise with increased unemployment.

It's a bummer to be on the receiving end of such actions, but do not take it so personally. There's nothing personal about it; it's an increasingly common action.

Complain, ask for reconsideration, whatever, but don't hold your breath.

[VeronicaLodge]

our move your debt to another card and close it

[Antigone*of*Greece]

I agree with both of the posters above. Please read the terms of your credit card agreement. Their right to increase or decrease your credit limits are clearly spelled out in your agreement.