A new trend in the credit card industry has consumer credit limits on the decline. Some credit card issuers have started lowering the spending limits on existing customer accounts as a way of tightening their belts during the current credit crunch. Our credit card and personal finance expert, Gerri Detweiler, was recently interviewed by ABC News in Los Angeles about the changes:

"If you don&39;t know your credit line has been dropped, you could go over the limit. And, with most card issuers, that means you&39;ll pay a hefty over the limit fee," Gerri Detweiler, a credit card expert, said.

You also have to watch your credit rating.

"A third of your credit score takes into account how close you are to your credit limits on your credit cards. So, a lower credit limit may make you appear maxed out on your credit card and that in turn can really affect your score," Detweiler said.

We&39;ve received reports about credit limit decreases from Bank of America and Capital One customers. If you&39;ve had your credit limit lowered recently, post your experiences in the comments section below.

Emily Davidson – Credit.com&39;s Communication Director and former TransUnion credit expert. Emily writes about credit reports, credit cards, loans and personal finance as the CreditBloggers.com moderator.