Introduction to the Cabela’s Credit Card
Although the old members of the Cabela’s club might be incentivized to sign up for the store’s new branded credit card, most of them still opt to stick to the free Club reward loyalty program. Camping, fishing, shooting, and hunting enthusiasts have a great opportunity of benefiting from the Cabela’s Club credit card rewards which include the signup bonuses, baseline rewards, and exorbitant spending. The biggest selling point of this credit card might be the easy to navigate feature which is an adornment of the redemption program. However, this program benefits only those who are willing to invest significantly at their outdoor activities and hobbies, some of which we mentioned earlier on. Consequently, the high APR on purchase rewards or bonuses from outside purchases are some of the features that make the Cabela’s club credit card unappealing to new members who may need a day to day use credit card.
Earning Points Using Cabela’s Credit Card
One feature of the Cabela’s credit card that might be considered a downside is its reward program as we have seen above. The program rewards 2 points for every dollar used for purchases at Cabela’s and the Bass Pro Shops and other purchases made at their affiliate Cenex gas station and other convenience stores. For purchases made elsewhere, the card rewards 1 point per every dollar used.
Here is the most interesting thing about this credit card, members of the Clubs loyalty program earn a ready 2% on all purchases done at the Cabela’s regardless of which method of payment they use, not necessarily the Cabela’s Credit Card. There is a difference though between Cabela’s Credit Card and other regular store-issued credit cards. The Cabela’s card is able to earn 2% points at any Cenex gas station and 1% point for purchases made anywhere else. This rate is honestly surpassed or matched by many other cash back cards which also come with a better offer on flexible redemption options.
Tip: Since the classic Cabela’s Membership card does not qualify you for higher points earning rate at Cabela’s or any of their affiliate shops, you should also consider applying for a cash back card that rewards points for purchases made at the Cabela’s. This could also be a useful tip for individuals who know that they will never get to the $15,000 expenditure limit at Cabela’s in order to qualify for the credit card’s silver tier status.
Earning More as you spend with Cabela’s Membership Tiers
Although the Cabela’s credit card holders have a lot of options to earn better reward points, advancing to those higher tiers is not as easy as it may seem. All beginners start out with a Classic card which comes with a 2:1 reward ratio on all purchases made at Cabela’s or any of the mentioned shops. On the other hand, Silver cardholders who achieve their tiers after reaching the annual milestone requirement of a total expenditure amounting to $10,000 worth of purchases, get to earn 3:1 ration points on all the purchases made at Cabela’s stores. On top of that, if an individual is able to spend extra $15,000 or the eye-opening amount of $25,000, they are automatically upgraded to the Black tier which earns points at a ratio of 5:1.
Among the advantages of owning the Cabela’s MasterCard is that the rules of redeeming points are very flexible as compared to other store-issued credit cards. Contrary to its other counterparts from the retail category, the cardholder does not need to wait in order to cash in their points. Redemption of the points can be done instantly during a purchase using the card. However, points redemption can only be done at Cabela’s shop or the Bass Pro Shops, which is actually the standard procedure for any other store-issued credit card. What makes Cabela’s credit card stand out is that the points do not expire.
Cabela’s points can also be combined with other discounts and coupons. Therefore, make a point of paying a visit to the clearance section when shopping either online or in store.
Cabela’s Purchases APR rate
The regular APR charged on the Cabela’s credit card might be high, but cardholders get a complementary low APR on all purchases made at Cabela’s stores and Bass Pro stores. For all the qualifying purchases, the total amount charged is 9.99%.
In case an individual would be interested in using their Cabela’s credit card to pay for a big purchase, either at any of their stores or paying over time, this would be a very ripe advantage. However, if paying for a big purchase is a priority, it would be much better if they signed up for a card that features 0% introductory APR, at least within the first months. This is not to say that the Cabela’s purchase APR is not reasonable, but the interest can accumulate very quickly especially after making a large purchase.
Other Features of the Cabela’s MasterCard
There are no real extraordinary features associated with the Cabela’s credit card. However, the card does have a few noticeable perks. For example, using the Cabela’s Gear Guide collection, you can earn extra points on certain qualifying purchases that are over and beyond your normal reward points.
You also get to enjoy the extended warranty, protection from ID theft and general price protection. In addition, Silver and Black cardholders get exclusive memberships at the Cabela’s signature outdoor adventures. There is also a series of Backpacking trips, special training and more, referred to as “The Experience”.
Unfortunately, this credit card does not offer purchase protection, which is the protection against accidents and damages or purchase related thefts.
Benefits of the Cabela’s credit card
- You get to earn more points for purchases made at the Bass Pro shops and even more at the Cabela’s shops
- The club points do not expire and there is no limit to point redemption for accounts that have a good credit score.
- The APR on purchase at the Cabela’s stores is relatively low
- Cabela’s mobile app has enhanced online tools and fraud protection covered by Capital One.
- Silver card and Black cardholders have free access to fishing and hunting activities all over the world.
Cabela’s Affiliate Merchant Partners
- Bass Pro shops: Cabela’s merged with the Bass Pro Shops in an effort to increase ways in which their customers could earn and redeem points. The Bass Pro and Cabela’s shops are still separate entities although they offer similar rewards.
- Capital One: this is one of the newest Merchant partners to the Cabela’s. This partnership allows Cabela’s customers to set up their online accounts with ‘text’ hunt and Capital one mobile app.
- MasterCard: Cabela’s has also partnered with MasterCard and all their members have received the new MasterCard with all the beneficial features.
- Who should consider applying for Cabela’s MasterCard?
- All current customers of the Cabela’s and Bass Pro shops or any other person who spends a lot of money on clothes and outdoor gear
- Those who want exclusive access to Cabela’s Signature Adventure Trips and ‘The Experience”
- If you are looking for a hassle-free points redemption credit card whose points do not expire
- Those who want a card that you do not have to use every day or has no expiry limit.
The Downsides of Cabela’s Credit Card
- Just like in any other store-issued credit card, the interest rate is very high.
- The card can negatively affect your overall credit score, therefore, if you are at risk of getting into bad debts, you should consider other options
- It is not as beneficial at the normal credit card mainly because of its limited credit limit.
Judging from the reviews and ratings of the Cabela’s MasterCard, it is not a very bad idea to apply for one, especially for people who love outdoor adventure or those who love shopping for clothes. However, if none of the above is a priority to you, you should consider applying for the normal credit card which comes with vast possibilities.
David is a financial expert who graduated from the University of Fordham (Master in Finance) in 2001. He has 10+ years of experience in private equity and wealth management. With strong expertise in senior-level financial planning, personal financial analysis, and mortgages, David knows his way around personal finance. Before working at CCR he used to be a financial analyst at McKinsey.
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