Barclaycard abruptly large credit limit decrease, affect on credit file

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So Barclaycard have decided to give me 2 months warning they are reducing my limit by about 75%, the new limit is not much over the current balance.
The stated reason is based on data they have on me, so obviously vague.
All my other cards as things stand, are still the same and have available 0% offers.
My concern is there may be a potential chain reaction, they routinely check the credit file, and if they see a sudden drop in limit on a card, they may react to that as some kind of warning sign and also reduce their limits as well as removing offers.
So what I am thinking is to preempt that happening and to just close the Barclaycard account (paying it off whilst doing so), my thinking is that doesnt look as bad as a sudden large drop of a limit.
I am curious what others think on this.
The stated reason is based on data they have on me, so obviously vague.
All my other cards as things stand, are still the same and have available 0% offers.
My concern is there may be a potential chain reaction, they routinely check the credit file, and if they see a sudden drop in limit on a card, they may react to that as some kind of warning sign and also reduce their limits as well as removing offers.
So what I am thinking is to preempt that happening and to just close the Barclaycard account (paying it off whilst doing so), my thinking is that doesnt look as bad as a sudden large drop of a limit.
I am curious what others think on this.
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So the question is not if it matters, but which scenario makes it more likely to have negative consequences on my other credit card suppliers. Keep the card with lower limit or close it?
I have been told today my limit is reducing to £250 from 12k. I use it periodically for large purchases that are paid in full when the statement arrives.
My credit report has a score of 624/710 on creditkarma and my last missed payment was 58 months ago. I am using 16% of my total available credit.
My question - am i better to clear the balance and close the account rather than have a low limit with a relatively high balance? They do so that if i can prove my income, they will review it, but i am not hopeful about that and dont want to waste the time (the limit reduces on 30 Nov)
Any advice/discussion would be useful.
Thanks in advance
Ben
Thanks for your help
Ben