Credit card issuers periodically review accounts to determine if a customer's credit worthiness has changed. That review can result in a decrease or increase in a customer's credit limit. Issuers may also make changes in credit limits to reduce their risk during times of economic uncertainty. This may happen if you have changed your spending habits or if you have a considerable amount of unused credit.

In this time of economic uncertainty, managing your credit card usage and your finances is more important than ever.

The fine print in your credit card agreement allows the issuer to change your credit line at any time and for any reason without notice. If a reduction would lead to over-the-limit fees or other changes, a 45-day notice must be given.

Impact on Your Credit Score

Unfortunately, having your credit limit lowered will probably impact your credit score since it will change your credit-utilization ratio. Monitoring your credit reports during this time can be helpful. You can check them weekly for free through April 2021 at annualcreditreport.com.

If this should happen to you, consider taking the following steps.

• Talk to your card issuer. Ask for the rationalization behind the reduction and request that it be restored. If you are experiencing financial hardship, you may want to discuss options you may have. You can usually find the customer service number on the back of your card.

• Work to pay down the balance. But don't close the account because that will impact your credit-utilization ratio.

• If you have credit cards that you are using infrequently or not at all, make small purchases on them such as automatic payments. Just remember to pay them off each month. Issuers may reduce limits or even close underused cards.

In this time of economic uncertainty, managing your credit card usage and your finances is more important than ever.