Can my credit card company unilaterally lower my Credit limit at its discretion? How likely is this?

I have a credit card with a credit limit of ,500. I have not only been making the payments each month, but I have been paying off my monthly balance at the end of each month consistently. My father told me that, given the situation of today’s financial market, the bank can decide to lower [...] http://bit.ly/qKjQVm