It is not baffling when you think that the reason we're here in 2009 in a massive recession is because of banks like Lloyds lending and lending without any regard for sensibility. It's like an elastic band that was pulled and pulled and then let go, we're in the midst of an overcorrection on banks suddenly reining all their lending in and reducing their liabilities. If you didn't need the huge credit limit, then you're probably in a better situation by having it reduced, like the person said earlier.

Spectrum

Hasn't it been on the news today about the debt situation, and this was blamed on companies giving credit to people who may not be credit worthy? (I am NOT saying you're not credit worthy by the way - but it was on the news today). Maybe they've decided to review accounts etc. Ring them and see?

maybe they have been criticised for giving people such extortionately high limits???  Or perhaps they see that you dont really use it and so have lowered it for you - surely this is better for you if you don't intend to use it - now when you have a credit search done they will see you only have a potential 1800 to spend rather than a potential of 17,000

This one has knocked me sideways!

I opened an account with Lloyds back in 2001 6 months later they offered me a gold visa card with an initial limit of £3000 and I have managed the account with the utmost perfection, never over limit never a late payment and until July 25th my limit was set at £17,000 and the current balance around £1,600

Yesterday I received a letter stating they were de-creasing my limit to £1,800 (almost 90%) without really stating an exact reason just a standard letter about responsible lending and credit reference reports and the past and present performance of my account!

I will stress I have no adverse credit and manage all my credit commitments perfectly and have managed all my past and present commitments with Lloyds to the letter and I have a regulary healthy salary payment bac'd to them

Totally baffled??????