Credit card issuers are as stupid as the OP contends. Not becuase they (wisely) reduced the credit limit on the B&N card but because the other company lent $50K, unsecured, at an interest rate of ZERO. Morons, even if they have some model that forecasts a profit once the introductory teaser rate is replaced by a new rate.
For the OP, you can still buy the same amount of stuff with the BN card and get your rewards, you just have to pay it off, say, every week.
