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Can they cut your limit and demand payment for difference

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Posted by Adam ( on October 22, 2009 at 14:22:11:

Citibank cut the limit on one of my cards to 1500 below my balance and are now saying that I owe them the difference as my min. monthly payment.

Is this legal? How can they do this? I am not in default and am up to date on all payments. I'd pay it off if I could but I dont have the cash and dont have the $1500 they are demanding.

Anyone know if they are allowed to do this? What are my options here?

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