They did that to my parent's business account with AMEX. Raised the rate to 23% from 7% and cut the limit to $3500 from $10,000.

Then, because they were "over the limit" ($4200) at the time of the credit limit cut, they raised the rate again (to 30%) for being over the limit.

Insanity. Always remember..banks and casinos don't get to build big, marble floored buildings because they're losing money.