I have always used the website Creditchoices.co.uk for help with decisions regarding mortgage financing. A few years ago when 100% mortgages were popular I was able to arrange a great deal with Abbey mortgages through Credit Choices. Since then I have been a regular visitor to the site for updates on everything pertaining to personal finance. So when I read that many credit card companies were cutting back spending limits on cards issued to customers with good credit I wanted to learn why. A Credit Choices article explained in detail that almost every major banking system in the world is facing default on both home mortgage lending and secondary loans. Basically the big banks all need cash. One way to have this cash pour back into the vaults is to lower credit limits as people pay down their bills. So if you have a card with a £2000.00 limit and pay it down to £500 pounds you may suddenly find the available credit is lowered to £500.00 as well. The solution to this is 0 balance transfers. Basically these cards allow you to transfer what ever you owe on one card to the balance of anew card. And because these companies aggressively want your business they will offer you an extended credit available balance. All of this information is offered in detail at creditchoices.co.uk.