Do standard credit card / line of credit agreements with banks allow them to pull your credit score any time they want after they extend you the credit? I had a substantial line of credit. The lender pulled my credit score after I inquired regarding a single 30-day late payment (immediately rectified), and they used the new credit report to justify cutting the line to nearly zero (ie, it's small outstanding balance). Thank you.
When you get a credit line or credit card, most applications clearly indicate the rights of the lender to monitor your credit on an ongoing basis.
The lenders are afraid of a sudden turn of events, such as a default on your other credit lines that may impair your ability to pay them. As you have found out, that's exactly what happened to you. The lender then can make an adjustment to your exisiting credit line to protect themself.