Cabelas Cardholders FYI

[Anonymous]

Just thought I would share this on here for general info.

News broke Tuesday that Bass Pro Shops is preparing a bid for the purchase of Cabela’s. The merger, first rumored in November, would transform the world of hunting and fishing like nothing else before it, as well as affecting the livelihoods of thousands of workers.

Reuters reported that BPS has partnered with Goldman Sach’s private equity firm to provide the financing needed to purchase Cabela’s. While the bid amount and a potential date for the purchase are still unknown, the report said BPS is facing competition from other unnamed buyout firms and has only begun the lengthy process required to buy Cabela’s. Competition is limited because firms are hesitant to purchase brands associated with firearms in the current political and legislative atmosphere, but it still exists.

The rumored buyout has residents of Sidney, Nebraska, site of Cabela’s corporate headquarters, in a state of panic. The outdoor company employs 2,000 of Sidney’s 6,800 residents. Analysts project that, if the BPS buyout takes place, the closure and consolidation of Cabela’s headquarters with Bass Pro’s is likely.

Cabela’s is also exploring selling its credit card business.

From an article on Sporting Classics Today

Hopefully this is ok to post as it pertains to cardholders.

[woodyman100]

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@Anonymous wrote:

Just thought I would share this on here for general info.

News broke Tuesday that Bass Pro Shops is preparing a bid for the purchase of Cabela’s. The merger, first rumored in November, would transform the world of hunting and fishing like nothing else before it, as well as affecting the livelihoods of thousands of workers.

Reuters reported that BPS has partnered with Goldman Sach’s private equity firm to provide the financing needed to purchase Cabela’s. While the bid amount and a potential date for the purchase are still unknown, the report said BPS is facing competition from other unnamed buyout firms and has only begun the lengthy process required to buy Cabela’s. Competition is limited because firms are hesitant to purchase brands associated with firearms in the current political and legislative atmosphere, but it still exists.

The rumored buyout has residents of Sidney, Nebraska, site of Cabela’s corporate headquarters, in a state of panic. The outdoor company employs 2,000 of Sidney’s 6,800 residents. Analysts project that, if the BPS buyout takes place, the closure and consolidation of Cabela’s headquarters with Bass Pro’s is likely.

Cabela’s is also exploring selling its credit card business.

From an article on Sporting Classics Today

Hopefully this is ok to post as it pertains to cardholders.

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I will be following this closely

[MyLoFICO]

Maybe Synchrony will buy it and set them up to remain solvent as their own entity. Big business is not always good business, not for consumers or employees anyway. 

[creditguy]

This is no surprise, cabelas sale or rumored sale to bass pro shops or someone else has been floating around for several months, there's even some threads on it buried around here somewhere. If they sell the card portfolio, no biggie it happens from time to time with stores. If they sell the stores and the portfolio to bass pro shops then I would imagine BofA would absorb the portfolio since they issue bass pro shops cards. Feel sorry for the small Sidney but unfortunately it's a sign of the times.

[creditguy]

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@MyLoFICO wrote:

Maybe Synchrony will buy it and set them up to remain solvent as their own entity. Big business is not always good business, not for consumers or employees anyway. 

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Are you suggesting synchrony buy cabelas or their card portfolio? 

[MyLoFICO]

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@creditguy wrote:

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@MyLoFICO wrote:

Maybe Synchrony will buy it and set them up to remain solvent as their own entity. Big business is not always good business, not for consumers or employees anyway. 

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Are you suggesting synchrony buy cabelas or their card portfolio? 

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Their card portfolio. 

[creditguy]

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@MyLoFICO wrote:

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@creditguy wrote:

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@MyLoFICO wrote:

Maybe Synchrony will buy it and set them up to remain solvent as their own entity. Big business is not always good business, not for consumers or employees anyway. 

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Are you suggesting synchrony buy cabelas or their card portfolio? 

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Their card portfolio. 

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Gotcha, they would be the perfect buyer. 

[MyLoFICO]

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@creditguy wrote:

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@MyLoFICO wrote:

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@creditguy wrote:

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@MyLoFICO wrote:

Maybe Synchrony will buy it and set them up to remain solvent as their own entity. Big business is not always good business, not for consumers or employees anyway. 

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Are you suggesting synchrony buy cabelas or their card portfolio? 

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Their card portfolio. 

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Gotcha, they would be the perfect buyer. 

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I thought so too. Be my luck though their SP CLI's would dry up to offset the expense. lol

[12njoy]

Oh I hope the sell isn't to Synchrony or Comenity for the credit card portfolio.  I'm at that magical 100k with Synchrony and Comenity won't touch me with a ten foot pole   I just got a cli on my Cabelas from 4k to 12k.  Synchrony might not like that additional 12k risk.

[Anonymous]

It is what it is I supposed....on another note, anyone received a CLI with their Cabelas card after 6 months? I haven't read any success stories online regarding Cabelas CLIs.