Bass Pro Shops and Cabela’s have entered into a definitive agreement where Bass Pro Shops will acquire Cabela’s for approximately $5.5 billion. As part of this agreement Capital One will issue and service the Cabela’s co-branded credit card. Previously this was managed by Cabela’s itself. Cabela’s has been a bit of an anomaly in the past in that they issued their own credit cards, rather than having a co-branded relationship with a traditional credit card issuer. Both Capital One & Synchrony were eager to earn this business as it resulted in $3.6 billion in sales per year.
I doubt we’ll see much if any change to the Cabela’s credit cards, but let’s wait and see what happens.
This is the worst credit card I have ever had. It doesn’t work well with Quicken, I am always having to reset the settings to get the download to work.
I always pay the balance due every month, but in December, the payment was processed late, causing me to get a service charge and interest charge. I paid both those, even though it seemed that the payment was received by them in time, and then paid the balance due the following month.
Somehow, I still get another interest charge, even though the statements show that I pay everything, including the penalties on time.
Closed the card and cut it up. Stay away from Capital One credit cards. Can’t comment on Capital One bank as I have never had an account there. But I would advise that you stay away from the whole outfit just to be sure.
Capital One totally screwed up the transition. CC was hacked. New cards never arrived. I am done. Cancelling my account and will no longer shop at Cabelas or Bass Pro unless item is unavailable elsewhere.
I have already cancelled my 8 year old Cabela’s account over this.
Capital One is about as bad as a company can get – I had fraudulent charges on a C1 card that was sitting in my safe and hadn’t been used in a few years, disputed them and started a battle with them that went for more than a year with them insisting that they had proof that I had made the purchases but refusing to send it to me or the police unless I acknowledged that the charges were mine, otherwise they might be sending me someone else’s personal information. I finally got them to remove the charges from my account after almost a year, then received a letter from them to my estate offering condolences for my death and letting my estate know that they would pursue payment for the fraudulent charges from my estate. And it took almost 6 months to get them to accept that I was not deceased and remove their report that I am deceased from my credit report (which will really screw with your credit) and stop trying to collect the fraudulent charges from me. Their “Zero Liability” policy is absolutely meaningless.
I had a Capital One card years ago when they promised me 9.8% for life.
One day the interest jumped up to over 17%, when I called and inquired about it I was told,
“Well, that’s just the way it is…!”
Really?
I don’t think so..
I sent them a check for the balance and cancelled the account on the spot!
I’m a Cabelas Black card holder that does over $40,000 a year worth of business.
When they change to Capital One, I’m canceling the account and I would urge everyone else that can to do so too.
Your article mentions capital one bank and synchrony bank. Are you indicating capital one is definitely taking over cabelas or is there still negotiations between cabela and synchrony? When does this takover begin? Do we think capital one is trying to stay in the game and bring competition to synchrony and comenity? Do we expect better credit limits from capital one? Article good.
Capital One will be taking over the portfolio, Synchrony was in the running. No firm dates yet as far as I know.
No more Cabela’s World’s Foremost Bank!?
I will be one of many to look for another credit card. I have had great service with cabelas CC since 1999 as a black card holder. Bit I will not be subjected to Capital Ones BS. I am not alone with this sentiment.
I can’t believe they have that much CC biz
always impressed with a retailer managing their own CC when not a bank…